Become Review

Become is a loan connection service that specializes in small business loans. It’s partnered with more than 50 lenders, and currently has 200,000 customers that have used its services.

SBA Loans Best for
3 /5
Rating
$ 100 /mo
Starting Price
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Table of Contents

    What Loans Become offers

    As a connection service, this lender offers a range of different loans across multiple different lenders.

    Its full product range is as follows:

    • Unsecured business loans
    • Startup business loans
    • SBA loans
    • Lines of credit
    • Invoice factoring
    • Business equipment loans
    • Merchant cash advances
    • Commercial vehicle loans

    How Become works

    Each type of loan has slightly different qualifying criteria and, depending on the type of loan you choose, your interest rates can vary significantly.

    Rates for a standard unsecured business loan start at 7.5%, but this provider doesn’t make clear how high rates can go and you’ll only find out once you apply.

    For any type of loan you choose, you’ll typically be allowed to borrow anywhere between $5,000 and $500,000 and repayment terms range between 6 months and 120 months.

    Bear in mind that some of Become’s partner lenders may charge origination fees, so make sure you read your offers carefully before accepting.

    How do I qualify for Become? 

    • Minimum credit score of 350
    • Your business must have been in operation for three months with $10,000 in monthly revenue or;
    • You must have been in operation for six months with $3,000 monthly revenue

    Some lenders may have other restrictions such as age or state limits.

    Become Pros And Cons

    Pros

    • Very quick application process
    • It promises some loans can be available and in your account just three hours after applying
    • Multiple loan types

    Cons

    • Maximum interest rates aren’t made clear
    • Become isn’t a direct lender, you’ll need to direct any issues and questions to the provider you draw your loan with
    • Some lenders can charge high fees

    How do I apply for Become? 

    You’ll apply for all loan types using just one application process. It should only take a few minutes to complete and the lender will connect you with a range of lenders and options.

    Documents I need to apply for Become

    This will depend entirely on each individual lender. Most will require business bank statements as proof of earnings, but others may ask for more detailed documentation, including proof of ID.

    Become for bad credit

    This provider is a good choice if you have bad credit. Each loan has different credit criteria, but its most popular offering, an unsecured business loan, has a credit score requirement of just 350.

    Become customer support

    Become has a toll-free number you can call as well as a customer service email address.

    However, if you have any specific issues with your loan, you’ll need to contact your chosen lender directly.

    Conclusion    

    This lender might be a good option for you if you have bad credit or are just starting out in business, but its starting rates are a little higher than some of its competitors.

    In addition, as a loan connection service, it's difficult to get clear terms before you apply. 

    If you like the idea of a loan marketplace but want more transparency on terms and rates, we’d recommend you give SmartBiz a try.