SMB Compass is a business financing company based in Philadelphia, Pennsylvania. They provide a variety of funding solutions and consulting services to small and medium-sized businesses across the United States.
Here's our in-depth review of SMB Compass:
Products and Services
SMB Compass offers a variety of financing solutions and consulting services to small and medium-sized businesses. Their primary products and services include:
SBA Loans: SMB Compass offers SBA 7(a) loans, SBA 504 loans, and other SBA financing options. These loans are backed by the US Small Business Administration and can be used for a variety of purposes, including working capital, equipment purchases, and commercial real estate.
Equipment financing: SMB Compass provides financing for a wide range of equipment types, from heavy machinery to IT hardware. They offer flexible terms and competitive rates, and can help businesses to acquire the equipment they need to grow and succeed.
Lines of credit: SMB Compass offers both secured and unsecured lines of credit, which can be a useful tool for businesses that need ongoing access to capital. These credit lines can be used for a variety of purposes, from inventory purchases to payroll expenses.
Invoice factoring: SMB Compass can help businesses to turn their outstanding invoices into cash. They offer a variety of factoring options, including recourse and non-recourse factoring, and can provide fast and efficient funding to businesses that are waiting on unpaid invoices.
Consulting services: SMB Compass also provides consulting services to businesses in need of financial guidance and support. Their advisors can help businesses to develop financial strategies, optimize their cash flow, and navigate the complex world of business finance.
Pros:
A wide range of financing options: SMB Compass offers a diverse array of funding solutions, including SBA loans, equipment financing, lines of credit, and invoice factoring. This means that they can help businesses of all sizes and industries to secure the funding they need to grow and succeed.
Expertise and guidance: SMB Compass's team of advisors has extensive experience in the financial industry, and they offer personalized guidance and support to each client. They can help businesses to navigate the complex process of securing funding, and can offer insights into financial strategy and planning.
Fast and efficient service: SMB Compass prides itself on its fast turnaround times and streamlined application processes. They aim to provide funding to businesses as quickly and efficiently as possible, which can be a major advantage for companies in need of urgent capital.
Cons:
Limited geographic reach: Although SMB Compass serves clients across the United States, they do not operate internationally. This could be a disadvantage for businesses that operate outside of the US or have global aspirations.
Fees and interest rates: Like any financial institution, SMB Compass charges fees and interest rates for their services. While these rates are generally competitive with other lenders in the industry, businesses should carefully consider the costs associated with their financing options before committing to a loan or other product.
Rates
| INTEREST RATE | LOAN AMOUNTS | TERMS | FUNDING SPEED |
SBA Loans | Starting at 6.25% | $100,000 - $10,000,000 | 10 – 25 years | As little as 30 days |
Invoice Financing | Starting at 12% | $25,000 - $10,000,000+ | 6 – 24 Months | As little as 24 hours |
Inventory Financing | Starting at 7.25% | $25,000 – $10,000,000+ | Revolving | 24 – 48 Hours |
Asset Based Loans | Starting at 5.25% | $250,000 – $10,000,000+ | Revolving | 10 to 14 days |
Equipment Financing | Starting at 5.99% | $25,000 – $5,000,000 | up to 10 years | 24 - 48 hours |
Business Line of Credit | Starting at 7.99% | $10,000 - $5,000,000 | Revolving | 24 - 48 hours |
Bridge Loan | Starting at 12% | $25,000 – $5,000,000 | 6 to 36 Months | 24 - 48 hours |
Purchase Order Financing | Starting at 15% | $25,000 – $10,000,000+ | Revolving | 24 - 48 hours |
Business Term Loan | Starting at 6.99% | $25,000 – $5,000,000 | 2 – 25 years | 5 to 7 days |
Qualifications
| MIN CREDIT SCORE | MIN TIME IN BUSINESS | MIN ANNUAL REVENUE |
SBA Loans | 620+ | 3 Years | $500,000 |
Invoice Financing | N/A | Startups Eligible | $100,000 |
Inventory Financing | N/A | 2 years | $100,000 |
Asset Based Loans | N/A | 2 years | $1,000,000 |
Equipment Financing | 600+ | 1 year | $100,000 |
Business Line of Credit | 600+ | 2 years | $100,000 |
Bridge Loan | 550+ | 1 year | $100,000 |
Purchase Order Financing | N/A | 6 months | $100,000 |
Business Term Loan | 680+ | 6 months | $500,000 |
Reviews
SMB Compass has received generally positive reviews from clients and industry experts. On Trustpilot, they have a rating of 4.8 out of 5 stars, based on over 150 reviews. Clients praise the company's expertise, professionalism, and fast and efficient service. However, some clients have noted that the fees and interest rates associated with SMB Compass's financing options can be higher than those of other lenders.
Conclusion
After conducting an in-depth review of SMB Compass, it is clear that this company offers a range of financing solutions and consulting services that can be highly beneficial to small and medium-sized businesses. Their expertise and personalized guidance, along with their fast and efficient service, make them a valuable partner for businesses in need of funding.
While there are some drawbacks to consider, such as limited geographic reach and the potential for higher fees and interest rates, SMB Compass's overall offerings are highly competitive in the industry. Their diverse array of financing options, including SBA loans, equipment financing, lines of credit, and invoice factoring, means that they can serve businesses of all sizes and industries.
Based on our review, we highly recommend SMB Compass to small and medium-sized businesses seeking financing solutions and consulting services. We rate them 4.25 out of 5 stars, taking into account their competitive products, personalized service, and positive reviews from satisfied clients. Overall, SMB Compass is a strong choice for businesses seeking financial support and guidance.
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