My business has been in business for about 4 decades and all of which have been rewarding. We did over 1. 4 Million in sales but we never sourced even or funding more than just one company credit card. Little did we know that when we hit an slow patch which sourcing financing would be so difficult. I have tried to source a line of credit or a company term loan from both credit unions, 4 distinct banks and big banks . I have over $500,000 worth of inventory that is sellable and very near no debts. It didn't make sense to me in any way I looked in the situation. To say the refusal's weren't only words but a kick in my company's stomach would be an understatement. I just about threw in the towel with sourcing any kind of funding, but then I stumbled across StreetShares while considering registering my company as a Service Disabled Veteran Owned Small Business and guessed , I did not have much to lose now. After pulling pictures from the facebook and eComm website of my company and creating an account, I had to upload a few records and just had my profile. I uploaded all that info and had the chance of having each one of the documents prepared from the banks that are previously denying. When that was complete, I noticed I had a opportunity to upload documents to give a better idea of who ran the organization to the Investing parties and what we stood for. I thought the personable approach to this process was something I recall wanting banks could do, that which we exist for and what our driving force is for my company although because it enabled me to show our financials. After uploading a few videos, client testimonials, charities we stumbled behind, screenshots and some event photos of different events on our facebook, I was completed. I feel it was the day once I got a telephone call also to describe the procedure over the phone and to touch base. Frankly, it wasn't but a day or so later I was told that the loan offer was going to go live and to my surprise I was told that the sum was financed! My bank was hit by the funds ! Unreal! It is quite refreshing to know there are Veteran Owned Firms that exist now, which are in the company of helping people. I will be recommending StreetShares to anyone I hear talking about sourcing funding. You men set it in a blender shot Shark Tank & Ebay and poured out Wonderful! Keep up the great work!
This provider alleges veterans are helped by them. Not this one. My company has some debt issues that hoped Streetshares could help solve. Apparently not too much with those guys. After submitting everything they asked for, they declined our firm with one reason only and I quote"Your business cashflows don't support extra debt." Obviously. We aren't currently looking for extra capital or debt. We were looking to refinance our MCA's to free up cash flow. They were not willing to assist this veteran business. 2 million is revenue. However, according to their site, there is no effect on credit. Yet in actuality, that's exactly what their refusal letter said was the source of the decision! They then contradicted themselves below. They said it played no role in their conclusion, yet in next paragraph, said it had been. This was what they put in their denial correspondence: The consumer reporting agency or agencies contacted that supplied information that affected our choice in whole or in part was: Equifax Information Services LLC PO Box 740241 Atlanta, Georgia, 30374-0241 1-800-685-1111 The reporting agency played no part in our decision and is not able to supply specific reasons why we have denied credit to you. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file. You have a right to a free copy of your report from the reporting that is appropriate agency, if you request it no later than 60 days after this notice is received by you. Additionally, if you find any advice contained is incomplete or incorrect, you have the right to dispute the matter. Any queries regarding such information should be directed to the reporting service listed above. Your credit rating was also got by us and used it in creating our credit decision. Your credit score is. Your credit rating can change, based on the information in your credit report changes. Well, guess that they let this veteran down. Not a suggestion or referral. Fellow Veterans, do not pin your hopes with this"Veteran Owned" business to assist you out of a jam. What a joke. I will pass it on to this fellow vets in my area as I am next to Fort Stewart. Walk on Streetshares. Look elsewhere. David Goodell CPT, SC (retired) 4 combat deployments Veteran
This is a summary of streetshares.com only as an investor (me), not a debtor. I have had money spent with StreetShares now for almost a year. The return on their own 3-year notes is really hard to beat. Plus, beginning around May/June 2019 you can now reinvest your curiosity about new bonds (to catch the compounding effect of this interest). Since fresh bond/note purchases have a $25 minimum just remember that your interest has to be at least 25 so as to reinvest. Based on how much principal you've got on your account, it may take a shorter or longer period for your interest to reach on the reinvestment threshold that is 25. Streetshares.com has been a WONDERFUL investment vehicle for diversifying our portfolio as bonds get but without the interest rate risk having a rate of interest, which will be about as great. I am using my accounts to get (among other things) building my daughters' college fund by minding their 529 plans. The stability of the current 5% return is a fantastic alternative, if you will need your cash on a timescale of five decades or not. We opened a second streetshares.com accounts in my spouse's name so that we got two time periods of the year when we can withdraw funds without the 1 percent fee which is levied on cash drawn out of the anniversary grace period given to every account. Mel in Investor Relations is careful and very responsive in handling problems or any questions that I have. Thanks to the StreetShares team!
I'll be honest, I was excited about this support when I used it. I was approved as I pull for my $20k line of credit, which as you know ways I've got $20k to pull from and of course pay back. An important note is that we're used utilized to LOCs that you pull and start paying 30 days or so. Not here, it's immediate. If you are buying inventory, DON'T! The next week you will pay for it. Also, your"approved" LOC is not approved. So when you go in to draw it, it looks like advertised, it is there to look nice. You do not, like you've got an line, BUT. Underwriters will review every draw you choose. I took $8k on my LOC, then wanted $3500 to finish my stock order and it was disapproved. I know have half of everything I want AND I uttered the deadline of events to my rep. If you request to speak with some one, then last name Dogins will call you and keep to describe that the machine"is exactly what it really is." Standard lingo for, I don't want to do anything. I voiced the problem of revenge on the telephone two decades ago on LOCs, they are still telling me they're considering other options. Although I was thankful for my LOC in the long run it'll be what shuts down me, initially it is not run.
I have purchased a $1,000 note with a 5 percent per annum interest rate. The purchase itself was simple. The website's interface provides one basically 3 options 1) purchase a notice two ) redeem a note and 3) review legal documents. The investment agreement states that every note is a safety under Regulation A of the Securities Act of 1933 and you are able to read the filing to the SEC's Edgar site. While I read the filing it noted that the directors and officers owned some $400k+ of those securities . Consequently, they are placing their money where their advertising is. In general, this might seem to be a fine investment for a small portion of a fixed income portfolio. Since this is a Regulation A security which isn't registered with the SEC (Reg. A is an exemption for registration) these promissory notes can't be leveraged (you cannot use them as collateral to borrow money - for example ). In a few years, I will update with how things go for withdraws when I choose to do that. Until then, I strongly recommend this company to anybody.
In overall I had a good experience with Streetshares. Though declines that benefit their prices have been much better than other creditors. The application process was simple since signing up that making payments that are early is simple as 22, and I've discovered. My only negative was that the representative who contacted me to put my account up ended up being too pushy to market the service. When I said that I had some time to compare and check their history out that he pushed to close the deal. I ended up having to hang up on him. I did the research I needed and StreetShares did end up being the best option, but the hard sell sales technique left me. Where anything but 5-star is bad that I couldn't ding them much for one episode when their service was good, I would have knocked them down but in this culture. Hopefully they realize that business owners want their space to make decisions, although I am not positive if that advertising tactic is business policy.
Annually contract after winning a $ 8M our company contacted SS seeing their Flex contract service and an LOC. Our expertise with the SS team was superb. We have an account support specialist that's accessible anytime required. As government contractors we are continuously challenged with cash flow as a result of goverment's payment program (usually 30 days after services are supplied ). We used two $200k LOCs to get a new contract. Paid one straight back in a couple months and will get the other one paid following year. What has been most valuable is the contract support program. This season We'll run during that program over $ 5M. The interest is a little greater than banks, but the service is so much better it is well worth the cost. We anticipate winning different contracts and utilizing the Flex program for them.
Two parts - online and in person The online experience was OK, however, the site might have been more upfront and explanatory about how the auction worked, mixed prices, etc.. But the website/platform had any glitches that were completely unnecessary. When I talked to somebody on the phone they explained an upgrade was forthcoming, ideally these are solved now. However, for something having to do with decent sums of money, that never should have happened. In person - the very first telephone call I made to streetshares that the person answering the telephone interrupted me in the midst of my very first sentence to inform me they were moving me to someone else. This is ridiculously inadequate customer service. The men and women in e-mail and on the phone were great - but one really first impression was a very poor one.
After giving all my info, I NEVER received a call on the program with a standing. Finally, I call them to see if I"qualified," for a loan. The guy looks up whatever or my program and asks how much can I make personally, apparently you have to make at least $25,000 a year, to qualify for a loan. I asked him, well, that's not what is advertised- what streetshares promoted is, even if you have Lousy credit you can qualify for a loan" The only thing he says is,"sorry we can't move any further." They did not offer any help whatsoever, and also lots of the reviews online are imitation. The guy didn't give me two minutes before telling me there was nothing he can do. Poor company, advertising and bad business.
Getting setup to start Streetshares is en simple process, and you get a great deal of help doing it. The news is you began the auction and also are guaranteed to fund once they have underwritten the loan. The less good news is that your rate of interest will likely be higher than underwritten because there aren't the types of lenders active on the site who care for much else than maximum return, and, the shareholders seek as high a rate of interest because they may achieve. This isn't what you'd expect from the expertise given the good nature of this Streetshares Mission and staff, but, support them, one day you will be able to back company loans and the attention sharks will probably be out numbered!
The whole encounter with Street Shares has been gloomy. The feeling of urgency and communication was lacking. The whole procedure fell apart after getting an approval. Promises and the platform is flawed and by touting veteran 21, the company appears to only draw/attract small business owners/clients. We and deeply disappointing process are writing this review to innovate to handling our issues. We are still waiting to hear back in the main partner/owner/GM with no success. Potential borrowers get quotations and try different choices and beware of the company there is plenty of competitors that will look after businesses with a solid history such as others and ours.
This company had been employed by our company and it was because they were assumed to function as helping vets. We paid it off All on time, in full and took a line of credit! This was for a 12 month deal. We was told after 6 weeks following this one was compensated in full, that we can do another line. So after paying off in ahead and complete of time we had been told by some guy that was new that they might not do anything. Found out that this company has a massive turnover of staff, So I would say to use somebody else. They are using the vets as a means to find new customers And NOT doing exactly what they say they'll do.
I want to thank the VP David Bann for reaching out to me and listening to my first upset. His call was really worth getting the Funds if I do not get financed. Street Shares is currently going through a growth phase and there was no error that my account has been handled was a manifestation of a'Perfect Storm' of internal modifications and a Maternity Leave. David was good at listening to my'Case' and the call was left by us in a place with esteem and the relationship. BTW, in case you read up on David you are going to see exactly what a fine young man he's using a heritage of Education and Service.
While I have not used StreeShare's services (yet), I applaud the company's efforts to assist veteran business owners. A trust exists who is improbable to find using a company that is non-veteran, and difficult to explain. I am definitely more at ease with StreetShares than I would be with Big Banks because of that trust. I have spoken with the CEO on many occasions. His passion for helping people is clear. If I want financial assistance for my small business, I will be calling StreetShares.
I've had the pleasure of meeting the StreetShares staff and they're a great group of individuals. We've resolved to work together formally and that I couldn't be more excited. The process was easy, and I could see this being a strong, long-term partnership. If you are a veteran looking for funding or to increase money. STOP looking elsewhere and contact StreetShares. This is team around and the best price. They're veteran and plenty of specialists work there. It's a win-win.
The turnaround was faster than a bank loan, but the procedure wasn't too hard although costs for loan are large. There were several stumbles along the way, therefore it was not as fast as advertised, however they did get me and get things sorted out that the funds in a reasonable period. If your organization is too small and too new to be eligible for a bank loan, or gets earnings too low for the larger"small" company loan businesses, try them out - they might surprise you.
Set-up was a breeze - a few basic info and a few clicks and I was set. The speed of return on your investment is really a no-brainer; I can't get that on any savings account, CD, etc.. I logged in a couple days later and everything was upgraded so I knew just what I made. That's it, although they could explain how interest is compounded and provide a little more detail. Supporting a company that supports veterans is an extra bonus. Sign up. You won't regret it.
Streetshares is really interesting. They're attracting the behavior norms of this town - transparency / accountability - to classes such as veterans where support is a priority. I enjoy this a whole lot. Because it seems human, I like it. I call it"Back to the Future" because little town banking was this manner. Today, it seems as they scaled, like banks have lost their way a bit. I like this business / team is currently creating lending a dating .
Spartan was in need of cash and Streetshares delivered exactly what they promised. I was able to borrow money for operating expenses with no"red tape" that conventional banks require. The procedure was quick and simple. The staff was responsive and friendly. It almost seemed too good to be true. Thankfully it was real and true! I would suggest any company , in need of financing, to provide Streetshares a go.
Our family is every year, the owner of a construction toy company that's gaining in importance. About Street Shares via the World Wide Web, I discovered as a USAF veteran. They enabled me to secure a business loan when the banks for the most ignored my orders. I have a better credit line that lets us finance our production cycles of toy components. All 100% Made in the USA. Thank you Street Shares!
StreetShares provided a quick, easy loan process that resulted in out loan being funded in only about a week from beginning of application to capital from our account. The rate is comparable to that used for a capital lease, but the curiosity makes the loan appealing. The investor bidding process was interesting to watch, and I would recommend StreetShares to any business seeking short term capital.
The whole process was nicely organized from the beginning and easy to get through. Both of those individuals we worked with, and there were two as I remember, were knowledgeable and very helpful. But then they're Marines and I would expect! I am recommending Street Shares to quite a few seasoned businesses that I know who are searching for working capital to help grow their companies.
Streetshares.com is a fantastic resource for startups and small businesses to get access to the additional funding in order to grow their business they need. Waveborn Sunglasses got a StreetShares loan in November to help smooth out our seasonal cash flow and cover holiday fulfillment wants. Their team wants to discover ways to help your company succeed and is great to work with.
My experience with Street Shares has been excellent. The ease of use of the website is exceptional. I managed to seamlessly invest in the organization and the businesses they support. Additionally, the business has been very receptive to my follow up questions. My motivator was the organizations that Street Shares supports, I believe this is a great opportunity and market.
StreetShares came in to my life right at a time when I had an amazing opportunity to cultivate my company, but I lacked the necessary capital. My charge had been demolished when our real estate business tanked in 2006, but that did not frighten away StreetShares investors. They were able to examine my business plan, financials and determine I had been a risk that is secure.
The objective of Streetshares is laudable in that it helps small businesses obtain charge. Connecting small business owners is a crucial function, although granted, they are not altruistic and take a cut. The platform makes investing easy (autoinvest is simple) and they handle all the logistics. I just know it but believe its a top notch operation. No reservations here.
StreetShares is an outstanding firm. The concept is brilliant and the supervisors are qualified and inspired. It will help on the receiving and giving end of company borrowing, particularly for veterans. It is also a way for recipients to build wealth, although it had been founded to help that was supplied. Strongly suggest this service to borrowers and lenders alike!
I'd learned about StreetShares, and see about them. I spoke on the phone to their team, then had the opportunity to visit their shop. I then applied, and was approved and financed. I thought they were professional, easy to use, honest, honest. The procedure was fast smooth, and simple. Would heartily recommend to any friends in an identical startup place.
Very very good company. Fantastic service with a personal touch. The practice of getting the loan was easy and straightforward. Beware of this Origination Fee. It can bump your interest rate quite a bit. Luckily this Origination Fee has been easy to negotiate. The entire process was nearly flawless. I'd do business with StreetShares again.
A alternative investment collection. I enjoy the capability to indicate that the quantity of risk I am comfortable with (lowest of 3 tiers), set a couple of different parameters and allow StreetShares do the remainder. Zero losses with the investments, and I just keep rolling funds into new loans as the primary and interest return.
I am an investor in the P2P space. Street Shares is totally transparent while p2p sites are getting from discussing all the details of a deal. You know precisely what you are becoming and are able to look a bargain from all sides. You are currently getting a lot more than only a FICO score with those guys. Highly suggested.
The respect StreetShares shows to veterans is appreciated. StreetShares is the best firm I have worked with relative to servicing and receiving a business line of credit. The staff is friendly, capable and knowledgeable. Earning money is never a pleasant undertaking but the StreetShares process is seamless, prompt and fair.
My returns have dropped since you removed investing. If I am understanding my investing options I must invest in a wide selection of loans not individual ones. You've too many loans which will default - they are less likely to keep their word to repay their loan if someone is not ready to provide their name and info.
We've used Streetshares on projects. Together with Streetshares helping with first project financing, we can concentrate on the job and the client. Streetshares has followed through on what agreed to on every event. Streetshares has become our go to funding partner for every one of our Government job (contracts).
Streetshares is a logical, accessible and creative response to an emerging market of pros that are entrepreneurial. They are not only a source of funding, they are currently moving the needle in that they are clearly demonstrating how Americans can finance specialists as successful business owners' progression .
As a member myself I love the notion of supporting fellow veterans pursue their careers while making a good return. The application has performed exactly as advertised, I have begun getting interest and bought bonds. I do wish I could see what programs I had been encouraging, perhaps a revision for the future.
I Have recieved several pieces of mail from Streetshares. Being a Veteran in need of some help to maintain my owner operator trucking buisness operating, I gave Streetshares a call. After I advised them I had been an owner operator truck driver, oh we dont get some buisness. Thank you for the help.
I began investing with StreetShares at November of 2017.StreetShares has great customer support, and offers short term investment with a high rate of return. I'm very happy with the investment I'v done with StreetShares, and I will continue to increase my investment with the corporation.
I can honestly say working together with StreetShares was a boon. They responded immediately when I asked and I received funds in a couple of days. Without any upselling me, I was advised by them of my options. I strongly recommend them for accessibility to fast capital to grow your business.
Mo Kanafseh is the consumate professional. He does exactly what he says he will do. That's really phenominal in a world where folks wont give the time of day to you. There isnt enough accolades to provide Mo for his compassionate character and unequivoca lcompassion in getting the task done.
I started investing in Street Shares. I really enjoy their target of helping small businesses that are Veteran and their business model. I am not a Veteran myself, however, a investment vehicle where I will find a return that is good and assist out Veterans is a win - win opportunity.
My experience with the StreetShares procedure was a positive one. The 1 thing were financing options to meet my business needs. I was grateful to have financing extended for my business but I also felt the procedure levied all danger to me and removed all risk into the financier(s).
This is really a process that is painless and fast. Staff were very professional and took some time to learn about our enterprise. We got the speed service on the way and we had and asked for. We were able to pay our loan off almost a year early and that only took a telephone call.
The people are all great. The customer service is excellent. Be prepared to pay an interest rate that's credit cards, if you understand your credit rating is not the best. I've got a credit rating around 675 and I was quoted at 27% interest rate. My credit card is just 12. 99%.
StreetShares has a strong, solid platform that enables small businesses to access capital at competitive rates and quickly. It also enables lenders to find quality companies to lend to. Easy-to-use and intuitive platform and A very simple process developed by an outstanding team!
Company and easy to invest with. I have received great customer services and opened an account about a month ago but already earning interest. Nice to know my money is currently being used to help out small, veteran owned business in addition to earning a 5% that are nice.
A buddy of mine suggested I am very glad I did and I take a look at this site! First, it is easy to begin and the site is great. You can get started with small amounts so anyone can do it. Last thing is you really feel good because you are helping small companies.
I shopped around for weeks for hiring more members, that my firm needed. My experience was nothing short of stellar. They've been quick to reply, we have had our money in 2 days and approved. It was a process and I highly recommend them! Randa O'Connor CEO
I've recommended this organizaton to several other investors. Assist and it looks like a cause that is logical to invest verterans at exactly the same moment, while Ihave not seen reesults however. Excited about returns and results that are very good.
Street Shares made the financing process a breeze! To be able to set up my accounts and access to the tools my business wanted the were patient with me and provided me with the information I needed. I would recommend Street Share to anybody anytime.
Located just outside our nation's capital, StreetShares provides financial solutions to America's heroes and their communities. Whether you're looking to fund your business, grow your savings, or invest your capital, we can help. Learn more at StreetShares.com or give us a call at 1-800-560-1435.