Advertiser Disclosure

Swift Capital

Not Yet Rated
See Top Picks

Swift Capital Review

    Chris Motola
  • 10 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Not Yet Rated

Need help finding a lender?

Get matched with offers at Lendio

Date Established
2006
Location
Wilmington, DE
Chris Motola

Chris Motola

Expert Analyst & Reviewer at Merchant Maverick
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.
Chris Motola
View Chris Motola's professional experience on LinkedIn.



To learn more about how we score our reviews, see our Business Loan Rating Criteria.
Leave a comment

10 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Semvnacke Tafhvmken

    Organization Name: SOC

    Honestly the most FAIR MCA lender that I have come across so far. I borrowed $40,000 from them on a 1 year repayment plan with weekly payments of $909.00 which puts my APR at 16.34%. No non-SBA loan on the market can touch them as far as low and FAIR APR and my credit score is good (732) but that did NOT prevent other MCA companies from offering me loans with 45%-78% APR. Swift has been very good and fair with me and I will definitely do business with them again if I need capital for some reason.

    5
    • Organization Name: SOC

    This comment refers to an earlier version of this review and may be outdated.

    Ben Carmitchel

    Don’t trust these guys (Loanbuilder, Paypal). It is a spinoff of Swift Capital, which have horrible reviews. I had my own bad experience with Swift. They’ll charge you a ridiculous rate for a very short-term loan. They should call themselves “Bankruptcy Assistors” instead.

    1

      This comment refers to an earlier version of this review and may be outdated.

      Mark Hurley

      The loan process was typical for a funding company. The customer service department has been a nightmare. They do not return emails or phone calls. The automated voicemail system does not allow options to actually speak with someone. I have on ongoing two week issue that I cannot get resolved.

        This comment refers to an earlier version of this review and may be outdated.

        Ransom C.

        WARNING!!! DO NOT USE SWIFT CAPITAL!!! They treated me terribly! Tipping point for me was the fact that they treated me even worse after I paid them off early! Lies and underhanded business practices. DON’T GIVE THEM YOUR VALUABLE BUSINESS!

          This comment refers to an earlier version of this review and may be outdated.

          Janice

          I am consideng a loan with them. Please tell me what type of bad experience you had. Thank you

            This comment refers to an earlier version of this review and may be outdated.

            Mary

            Hard money is just that – HARD.

            Swift was the best we found. We compared 5 companies, and some of them had agreements that were dangerous for the borrower. Swift terms are better, their interest rates were best we found, the amount they approved was in line with what we could pay, and they didn’t threaten to closed down our business or turn off our utilities or take over our lease if we had a downturn.

            READ THE CONTRACT before you borrow hard money. Some of them are downright scary. Swift is in the business of loaning money to people who can’t get it anywhere else. But you don’t have to be afraid they will move in and put you out of business. Some contracts we read seemed as if that was the objective of loaning us the money.

              This comment refers to an earlier version of this review and may be outdated.

              tuck

              Meet Swift Capital was totally the end of disaster and nightmare! Be careful! Total scam!

              1

                This comment refers to an earlier version of this review and may be outdated.

                andrew netusil

                USED SWIFT ONCE, WAS NOT IMPRESSED THEY DID THERE JOB, SEVERAL MONTHS AFTER I NOTICED THAT THE UCC FILING THAT THEY PLACE WAS NOT RELEASED, CALLED THEM AND CUSTOMER SERVICE TOLD ME THAT THEY DO NOT RELEASE THE LIEN UNLESS ASKED TO.I HAD NEVER HAD THAT EXPERIENCE BEFORE, ONCE PAID I WAS ALWAYS RELEASED IN A REASONABLE AMOUNT OF TIME, SO I ASKED AGAIN, YOU MEAN EVEN WHEN I AM PAID IN FULL YOU LEAVE A LIEN ON THE BUSINESS? YES UNLESS YOU ASK FOR A RELEASE WE DO NOT ISSUE ONE. ASKED CUSTOMER SERVICE ONE MORE TIME, DOES’NT THAT SOUND STRANGE TO YOU, CUSTOMER SERVICE TOLD ME “I’M CUSTOMER SERVICE IT DOES NOT MATTER WHAT I THINK” THAT SAYS IT ALLSTAY AWAY THERE ARE BETTER COMPANIES OUT THERE WHO COMPLETE WHAT THEY ARE SUPPOSED TO, NOT EXPECT YOU TO RUN AND DO THERE JOB AFTER YOU HAVE PAID IN GOOD FAITH

                1

                  This comment refers to an earlier version of this review and may be outdated.

                  Adam

                  This is typical with these MCA (Merchant Cash Advance) companies. These types of companies were created vis a vis the ACH (Automated Clearing House) technology that allows them to know pull out of your bank account in many cases on a daily basis. They are terming out these loans and calling the interest that they impute into the term loan a “fee”. These loans carry interest rates that range from 40% on the low end to over 500% on the high end when you include the “fee”. The falsely advertise as low interest loans because the “fee” is embedded in the term loan. Please be careful with these scams and remember that if it sounds too good to be true, it almost certainly is!

                    This comment refers to an earlier version of this review and may be outdated.

                    John

                    Company cancellation clause in contract is nothing but a scam. I have been trying to cancel for 2 days ago and give them back their Money. Loan was Made Friday and on phone repeatedly the guy was telling me cancellation requires money back to them within 10 business days but still at this point has not provided me any information on how to wire it back to them as of Thursday night and earlier spent an hour on the phone with them today trying to cancel per their cancellation clause. They are trying to run out the clock and to take 10k in interestest for a 56k loan in 9 months plus an additional 1405 they already took for a origination fee. The guy refused to send email to put in writing I had 10 business days to cancel while on phone and said he would send that and the information on how to wire the money back within 30 min. At the very end of business day he sent an email stating that it was calendar days and not business days and still had no information on returning the money and cancelling before the now calendar day time is up.

                    1

                      This comment refers to an earlier version of this review and may be outdated.

                    Leave a Reply

                    Your email address will not be published. Required fields are marked *

                    Your Review

                    Comment moderation is enabled. Your comment may take some time to appear.
                    Please read the "User Review and Comment Policy" before posting.

                    We Recommend OnDeck for Loans 🏆

                    Fast turnaround: as little as 1 - 2 days.
                    Low requirements: 600+ credit score, 12+ months in business and $100,000+ revenue.

                    Get Started

                    No hard credit pulls

                    Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

                    Sign up for the Maverick Newsletter

                    • Please select topics of interest

                    • We occasionally send out emails with special offers.
                    • This field is for validation purposes and should be left unchanged.