ROK Financial is a lending marketplace that connects business owners with small business loans. The company has helped clients obtain hundreds of millions of dollars in financing since James Webster founded the company in 2020. Business owners can obtain same-day funding, with most people receiving their capital within five days.
What is ROK Financial?
ROK Financial works with lenders to provide small business owners with several financing options. ROK Financial has generous requirements that make business loans more accessible. For example, most of their loans do not require more than six months of business experience. You also need $60,000 in annual gross sales to qualify for a loan, and you can get financing even if you have bad credit. In addition, ROK Financial uses fintech solutions to pair you with funding quicker than other lenders. As a result, if you have urgent financing needs, ROK Financial may be a better solution than other lenders or marketplaces.
ROK Financial’s leadership has helped business owners obtain hundreds of millions of dollars in capital. The team at ROK Financial has more than two decades of experience within the alternative lending space. The ROK family has maintained a flawless reputation due to the company’s experience and commitment to customer service.
How Does ROK Financial Work?
ROK Financial has an online application process that takes roughly 15 seconds. A dedicated business financing advisor on ROK Financial’s team will reach out and share several options from lenders. Business owners can then review their choices, determine the right loan for their financial needs, and get funded. ROK Financial uses revolutionary technology to speed up the loan application process. You can have the loan proceeds in your bank account within a few hours of submitting the 15-second application.
What Makes ROK Financial Stand Out?
Same-day funding and generous requirements help ROK Financial stand out among other lenders. Some business owners need cash urgently and cannot wait too long before getting a loan. Traditional banks and credit unions may have you wait over a week before receiving funds. However, not every business owner has that long to wait for a decision.
Business owners with poor credit also face an uphill battle with the traditional model. These small business owners will get turned away by many lenders and may find it difficult to obtain essential financing. ROK Financial removes the hurdles so that low-credit borrowers can obtain loans. If you have a high credit score, ROK Financial is still a great option, and you may be able to obtain a lower interest rate for having good credit. You also won’t have to pay any extra for the dedicated business financing advisor ROK Financial provides for you.
Another advantage ROK Financial offers is its vast number of loan products and offers from private lenders. You can provide your information on ROK Financial and get several loan offers. In addition, business owners don’t have to apply to one lender at a time since ROK Financial has a marketplace that streamlines the application process.
What Products and Services Does ROK Financial Offer?
ROK Financial offers several small business loans that can provide you with the necessary capital. Here is the list of financing options you can obtain with the lender.
Small Business Term Loans
Small business term loans help companies acquire capital at a fixed interest rate. ROK Financial has 6-month to 10-year terms on their loans, and business owners can borrow any amount between $10,000 and $5 million. These loans have a FICO requirement of 660+ and have same-day funding available. You can get a fixed-rate loan to make the monthly payments predictable. Business owners who believe interest rates will decrease over time may want to consider a variable-rate loan. However, these monthly loan payments are less predictable and can increase if interest rates go up.
Business Lines of Credit
Lines of credit give your business extra reserves that you can tap into for short-term expenses. Lines of credit have variable interest rates, but you only pay when you borrow against the principal. Some business owners rarely use their line of credit, but it’s a useful backup. ROK Financial offers business lines of credit with up to 10-year terms and funding between $10,000 and $1 million. You can get same-day funding and don’t need a good credit score to qualify.
Equipment Financing
You can borrow between $10,000 to $5 million for equipment financing. ROK Financial can provide the proceeds in 2-5 days, and you can select loan terms ranging from 1-5 years. Equipment financing tends to have lower interest rates since the equipment gets used as collateral, and there is no minimum time in business requirement. Private lenders provide collateral equal to a percentage of the equipment’s face value. As a result, some small business owners can get equipment loans without putting any money down.
SBA Loans
ROK Financial pairs business owners with expedited SBA loans at competitive rates. Borrowers can get 10–25-year terms and borrow up to $5 million. These loans have higher credit score requirements and other standards than other loans, and it can also take a while to get funding. However, you can get funding from an SBA loan in as little as 45 days. Many of ROK Financial’s products have the potential for same-day funding, but if you apply for an SBA loan, you can end up with the most competitive interest rate and terms.
AR Financing
AR Financing lets you turn your accounts receivable into additional cash. ROK Financial will give you a loan based on a percentage of your invoices’ face value. So you can still serve your customers instead of giving the invoice to another company. This perk helps business owners maintain relationships with customers instead of risking an invoice factoring company souring up the relationship with aggressive marketing tactics. ROK Financial provides funding within 2-5 days, and you can borrow up to $5 million against your accounts receivable. Similar to many of ROK Financial’s other offerings, AR Financing does not have a minimum FICO score requirement.
Merchant Cash Advance
A merchant cash advance lets you use monthly gross sales to repay the loan. Businesses can borrow up to $5 million on a 6-month to a 10-year term. Merchant cash advances are flexible loans that do not require any collateral. The repayment for merchant cash advances takes place via a percentage of every credit and debit card transaction. Small business owners who receive a merchant cash advance from ROK Financial can receive funding in 1-3 days.
Asset-Based Loans
Asset-based loans help you acquire assets at competitive rates. The asset becomes collateral for the loan, similar to how a house becomes collateral for a mortgage. ROK Financial does not have FICO score requirements and only requests that you have three months of experience and $5,000 in monthly gross sales.
Franchise Financing
ROK Financial has franchise financing that can help franchise owners start their enterprises or fund expansion. ROK Financial’s requirement for three months of business experience makes them a friendly lending solution for franchisees getting started. 6-month to 10-year loan terms are available, and you can borrow up to $5 million. Approved applicants can receive funding in 2-7 days.
Fix N Flip Loans
If you want to flip real estate but don’t want to contend with high monthly loan payments, this financial product is for you. Fix N Flip loans have generous upfront monthly payments that give you more time to revitalize an asset before flipping it. ROK Financial provides clients with 80% to 100% purchase funding with rates starting at 8.99%. ROK Financial requires a 650 minimum FICO score for this financial product. Borrowers can obtain funds equal to 65% LTV of the property’s anticipated price after repairs. ROK Financial lets applicants borrow capital equal to 70% LTV under some scenarios.
Credit Card Processing
ROK Financial will conduct a free cost-saving analysis that can help you save 20% to 30% on credit card fees. You will have a dedicated relationship manager to guide you through the process and answer any questions. Borrowers get access to 24/7 customer service and a dedicated relationship manager. Since ROK Financial doesn’t have you commit to a contract, you can switch without incurring any additional costs. You can take it month by month.
What ROK Financial Customer Reviews Say
ROK Financial has served thousands of clients since 2020. As a result, the company has received thousands of reviews, including the following:
- “I was looking for funding for my business when a friend of mine referred me to ROK Financial. I worked with Paul, he was very informative, answered all my questions and walked me through the process. I told him I was looking to get this done immediately, he managed to get everything done for me, and I was able to close on time. I had an excellent experience working with Paul and his team, and I have already recommended their services to others.” — Penny Casey (Google Review)
- “Thank you, Rok Financial, especially Mike Gullo. Mike made sure he answered all my questions thoroughly ( I had plenty, this was my first experience). Can’t thank him enough.” — Diana Hill (TrustPilot Review)
- “I’ve worked with Rok Financial for several years now, and all of my experiences with them have been outstanding. Turnaround time is only a day or two with funding right afterward. Awesome!! I highly recommend to anyone looking for funding to contact them and experience their expertise and great customer service!!” — Jeanette Grace (TrustPilot Review)
How to Get Business Funding from ROK Financial
ROK Financial has several business loans available that can provide you with enough capital for your next project. You can apply for a small business loan on ROK Financial’s website. After completing their 15-second application, you will receive an email containing more details. One of ROK Financial’s advisors will provide additional guidance.
