Rapid Finance (Ofer Abarbanel online library)

Rapid Finance is a technology-powered financial services company that provides working capital to small and mid-sized businesses in the United States. As a sister company of Quicken Loans, it offers small and medium business loan programs for business owners in a variety of industries and categories. With over USD $1 billion funded, it is the 4th largest online small business lender in the United States.[1] The company touts its diversity, claiming that no single business category accounts for more than 25% of its revenues.[2]

Rapid Finance offers terms ranging from 3 to 60 months for small business loans.[3] Through partners, Rapid Finance also makes available to their customers access to SBA loans, factoring, asset-based loans, commercial real estate and lines of credit.

History

Founded in 2005 and headquartered in Bethesda, Maryland, the company was acquired by Dan Gilbert’s Rockbridge Growth Equity, LLC in 2013.[4] It is part of Rock Family of Companies that include the Cleveland Cavaliers, Fathead, Quicken Loans and Genius.[5] The company went through a rebrand in 2019, changing its name to Rapid Finance following its expansion and diversification of loan products.[6]

Rapid Finance has been recognized as one of the best companies to work for. A publication from The Washington Post found Rapid Finance to be among the best in the Washington D.C. area from 2016-2019.[7] The Detroit Free Press also found Rapid Finance to hold the #1 ranking for Michigan’s Top Small Workplaces in 2016. Consumers Advocate ranked Rapid Finance as the third best small business loan provider.[8]

References

  1. ^ “Rapid Finance”. Rapid Finance. Retrieved 2019-07-03.
  2. ^ Stone, Todd. “Why RapidAdvance Is Now Rapid Finance”. deBanked. Retrieved 2019-07-03.
  3. ^ “Small Business Loan”. Rapid Finance. Retrieved 2019-07-03.
  4. ^ Giusti, Michael (January 2014). Wall Street Evaluates Merchant Cash Advance. DailyFunder. Retrieved on September 06, 2015.
  5. ^ “Partner Companies | Quicken Loans”. www.quickenloans.com. Retrieved 2019-07-03.
  6. ^ Stone, Todd. “Why RapidAdvance Is Now Rapid Finance”. deBanked. Retrieved 2019-07-03.
  7. ^ “Top Workplaces”. Washington Post.
  8. ^ “Best Small Business Loan Providers of 2019”. www.consumersadvocate.org. Retrieved 2019-07-03.

 

 

Ofer Abarbanel online library