SoFi (Social Finance, LLC) is a publicly traded fintech company and FDIC-insured bank (SoFi Bank, N.A.) founded in 2011 that offers small business loans from $2,500 to $250,000 through its direct lending platform. Unlike most online business lenders, SoFi prices in APR — not factor rates — making total cost transparent and directly comparable to bank loans. Soft credit pull for rate check (hard pull at final application). No origination fees. Same-day funding for loans signed by 2:45pm ET. Part of SoFi's broader financial platform (banking, investing, insurance, personal loans, student loans). Best for established business owners with strong personal credit who want APR-based pricing, no origination fees, and same-day funding from an FDIC-insured bank.
SoFi (Social Finance, LLC) is a publicly traded fintech company and FDIC-insured bank (SoFi Bank, N.A.) founded in 2011 that offers small business loans from $2,500 to $250,000 through its direct lending platform. Unlike most online business lenders, SoFi prices in APR — not factor rates — making total cost transparent and directly comparable to bank loans. Soft credit pull for rate check (hard pull at final application). No origination fees. Same-day funding for loans signed by 2:45pm ET. Part of SoFi's broader financial platform (banking, investing, insurance, personal loans, student loans). Best for established business owners with strong personal credit who want APR-based pricing, no origination fees, and same-day funding from an FDIC-insured bank.
APR pricing, no fees, FDIC-insured bank, and same-day funding set SoFi apart from both MCAs and conventional online lenders in 2026.
SoFi is best suited to established business owners with strong personal credit who want transparent, fee-free bank financing with fast funding.
Cover operational costs, payroll, and day-to-day expenses with APR-based pricing that makes total cost clear upfront.
Finance business equipment at a known APR with no origination fees and the full loan amount received.
Stock up for busy seasons or fulfill large orders with transparent fixed-rate capital.
Fund growth initiatives — new locations, staff hiring, marketing — with a fixed-rate bank loan.
Consolidate higher-cost business debt into a SoFi loan at APR pricing, potentially reducing total borrowing cost.
Access fast capital (same-day available) from an FDIC-insured bank for time-sensitive business needs.
SoFi offers one small business loan product — straightforward APR-based financing with no fees and same-day funding.
APR-based term loan with no origination fees and no prepayment penalties. Same-day funding if signed by 2:45pm ET. Hard pull at formal application. SoFi Bank, N.A. originated. 0.25% rate discount for SoFi Plus members or eligible direct deposit.
Go to sofi.com/small-business-loans and complete the quick online form. SoFi conducts a soft credit pull that does not affect your credit score and shows you your available rate and terms.
See your exact APR, loan amount, term, and monthly payment with no origination fees. Because SoFi prices in APR, you can directly compare this offer to bank loans and SBA options.
Proceed with your formal application. A hard credit pull occurs at this stage. SoFi verifies income and business information.
Sign your loan agreement. If signed by 2:45pm ET on a business day, most borrowers receive funds the same day. Outside that window, expect funds within 24 hours.
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SoFi Business Loans
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| Eligibility | ||||||
| Loan Amount | $5K – $2M | $10K – $5M | $5K – $1.5M | $5K – $400K | $5K – $600K | $10K – $5M |
| Time in Business | 12+ Months | 9+ Months | 6+ Months | 12+ Months | 6+ Months | 12+ Months |
| Monthly Revenue | $10K+ | $30K+ | $12K+ | $8,333+ | $15K+ | $21K+ |
| Min. Credit Score | 680 | None | 500 | 625+ | 500+ | 600+ |
| Loan Details | ||||||
| Funding Speed | Same Day | Same Day | 72 Hours | Same Day | 24 Hours | 24–48 Hours |
| Approval | — | Within 3 Hours | — | — | 4 Hours | — |
| Rating | ||||||
| Rating | ||||||
| BBB Rating | N/A | A- | A+ | A+ | A+ | N/A |
| Apply Now | Apply | Apply | Apply | Apply | Apply | |
Yes. SoFi Small Business Loans are originated by SoFi Bank, N.A. — a federally chartered FDIC-insured bank (NMLS #696891). SoFi is not a marketplace or broker for its business loan product. Founded in 2011, SoFi is publicly traded on NASDAQ (ticker: SOFI).
SoFi does not publicly disclose a minimum credit score for business loans. Based on SoFi’s broader lending profile and borrower experience reports, a 680+ FICO score is typically needed for approval, with better rates available for 700+ profiles. Use the soft-pull rate check to see what you qualify for without credit impact.
SoFi prices in APR — not factor rates — and rates vary by borrower profile, loan amount, and term. Rates are disclosed after the soft credit pull. A 0.25% rate reduction is available for SoFi Plus subscribers or borrowers with eligible direct deposit into a SoFi account. Exact current rates are at sofi.com/small-business-loans.
No. SoFi charges no origination fees on its small business loans. The full approved loan amount is deposited to your account. No prepayment penalties either.
Most borrowers receive funds within 24 hours of approval and signing. Same-day funding is available for borrowers who sign their loan agreement by 2:45pm ET on a business day. Delays may occur for inaccurate information or if the receiving bank declines the transfer.
Yes. SoFi Bank, N.A. is an FDIC-insured federally chartered bank (NMLS #696891, Member FDIC). SoFi (Social Finance, LLC) is publicly traded on NASDAQ (SOFI) and has been in operation since 2011. SoFi is one of the largest US consumer fintech banks. Small business loans are a relatively newer addition to its product suite.
SoFi Business Loans earn a strong place in 2026 for business owners who want APR-based pricing, no origination fees, no prepayment penalties, same-day funding, and the security of borrowing from an FDIC-insured bank. In a market flooded with factor-rate products that obscure true cost, SoFi's transparent APR pricing is genuinely differentiated — allowing direct comparison to bank and SBA alternatives.
The tradeoffs: the $250,000 maximum limits it to smaller capital needs, the precise credit score requirement isn't disclosed (expect 680+), and the product is relatively new compared to SoFi's core consumer lending suite. For business owners with strong personal credit who want clean, fee-free bank-originated financing with same-day availability, SoFi is worth making the first stop in your loan search.
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