Currency Finance Review 2024

Currency Finance is an online business loan marketplace that was formerly known as Currency Capital. They specialize in business loans that are designed to help you purchase equipment and they also offer medium-term traditional loans. Currency Finance helps verify the quality of the equipment purchased.

At a Glance:

  • Loans up to $500,000
  • Competitive rates and relatively low APR when compared to similar loans
  • Streamlined application process is easy and straightforward
  • Online marketplace specializing in equipment loans and medium term loans
  • Several fees may apply especially when borrowers have lower credit scores or show risk in other ways

Currency Finance Pros and Cons


  • Competitive rates and comparatively low APR
  • Variety of loan options available


  • Early payment fees may apply
  • Personal guarantee and business lien needed

Currency Finance Business Loan Rates and Fees


Varies depending on borrower

Loan term:

Up to 72 months

Loan amounts:

Up to $500,000

Hidden fees:

Varies, loans may require origination fees, prepayment fees, late fees, etc.

Minimum credit score required


Extra perks:

Verification of equipment quality for equipment loans

Fund availability

As early as one business day but may require more time

What type of business loans does Currency Finance offer?

Equipment Financing: Equipment financing allows business owners to receive a lump sum that they are to use to pay for any equipment they may need. If the borrower defaults on this type of loan, the equipment purchased would be repossessed as it is considered the collateral for the loan. Those who qualify for Equipment Financing through Currency Finance typically have an annual revenue over $75k, a personal credit score of at least 585, and have been in business for at least six months. Best for business owners who need new equipment or machinery.

Medium-Term Business Loans: Medium-term business loans are quite literally business loans designed for medium term uses as they include fast financing and medium repayment term lengths. Those who qualify for Short-Term Business Loans through Currency Finance typically have an annual revenue over $75k, a personal credit score of at least 585, and have been in business for at least six months. Best for emergency situations.

What are some of the benefits of using Currency Finance’s Services?

There are a variety of lenders available through Currency Finance.

As Currency Finance is an online marketplace you will be able to weigh several options from a variety of lenders when you submit your one application. Currency Finance will show you multiple options that you may qualify for in one place so you can compare and contrast so you can make sure you are picking the best one.

The lenders Currency Finance recommends will be able to competitive rates and comparatively low APRs.

The lenders you will be matched with when you apply with Currency Finance will offer you great rates which are often better than you would get otherwise. The APR range is between 6% - 24% so even on the higher end it is quite competitive.

What are some of the downsides to using Currency Finance Business Loans?

You will need a personal guarantee and business lien.

Currency, like other lenders, requires a personal guarantee for all business lines of credit, which means you (the borrower) will be personally liable for repayment if your company defaults on a loan. To secure the line of credit, borrowers must consent to a general lien on their business assets which means that your business or aspects of it may serve as collateral should you default on the loan.

Early payment fees may apply.

There are many online lenders who will not charge you a fee for paying off your loan early but many of the lenders that you’ll be matched with through Currency Finance will. You’ll be able to enjoy other financial perks like lower interest rates but you will not be able to save any money by paying off your loan early and you may be charged a flat fee simply for making that early pay off.

Currency Finance’s website is sparse.

While Currency Finance is a reputable lender, the lack of information on their website can be a deterrent for customers who like to research companies before they work with them. Their website does not include general financial advice and apart from basic answers to FAQs, you will likely need to contact them directly to receive answers to most of your questions.

Currency Finance Business Loan Review

Borrow up to $500k

Funding as fast as one business day but may require more time

Loan term: up to 72 months

Verification of equipment quality for equipment loans

Minimum credit score: 620

Need help finding the right loan?

No worries, we've got you covered! Compare personalized loan options in just minutes without impact on your credit score.

Do I need a credit check to take out a business loan with Currency Finance?

The prequalification process does not require a hard credit check - that comes later when you select a loan and complete your application process. During the application process Currency Finance will pull a soft credit check to evaluate your creditworthiness but this will not count as a negative mark on your credit score.

Are there any hidden costs and fees associated with Currency Finance business loans?

As Currency Finance is an online marketplace that connects borrowers and lenders, the exact types of fees will vary depending on which lender is chosen. You may need to pay origination fees or processing fees when the loan is finalized and late fees and unsuccessful payment fees may be charged during the course of your loan if you are not able to make your payments properly on time.

That said, there are no fees or costs associated with simply applying for a loan with Currency Finance.

How is Currency Finance’s customer service and support?

Reviews of Currency Finance’s customer support systems note that customers are usually able to find a satisfactory conclusion to whichever issue they’re having. To contact their customer service department you will have to fill out a contact form on their website and wait to be contacted via email by a representative. They do not list a phone number for customer service on their website.

How to qualify for a Business Loan through Currency Finance

The precise requirements may vary depending on what type of loan you are interested in and how much money you are seeking to borrow, but Currency Finance lists the following as minimum requirements for business loans:

  • 625 credit score
  • 2+ years in business
  • Business credit history
  • You should apply with anyone who has at least a 10% ownership in the business

How to Apply for a Business Loan with Currency Finance

The application process with Currency Finance business loans is specifically designed to be as fast and easy as possible. You start by heading to their website and filling out a brief online survey that will allow Currency Finance to collect basic information about you and your business. Once your information is collected and analyzed, Currency Finance will present you with any loan offer that you qualify for. You may receive one or you may receive multiple options - either way, you have the choice as to whether or not you will accept.

Once you do accept a loan you will be directed onwards to finalize the loan. This process may vary and is dependent on what the specific lender requires but usually if you are required to do anything significant, it will involve submitting documentation in order to verify the information you gave earlier on in the process.

Is Currency Finance Legit and Trustworthy?

Yes, Currency Finance is a legitimate company that does what it says it will do so as a borrower you can expect to be able to compare and contrast lenders and find one that suits your specific business needs.


Currency Finance offers loan options for many, especially those who are struggling to qualify through other traditional lenders. The loans you can find through their services can include high total loan amounts and decent terms especially when compared to other lenders who work with those with lower credit scores. As they are an online marketplace for loans, they work with multiple lenders and you can receive multiple offers after submitting only one application.

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*Disclaimer: does not function as a lender. The offers provided on this website are provided solely by third parties, who compensate for their inclusion. We would like to emphasize that will not contact you regarding any loan application resulting from the aforementioned offers, and we will never request financial information or any sensitive personal data via phone, email, or any other means.

REMEMBER, it is essential to exercise caution and never share any financial information or sensitive personal data over the phone or via email without independently verifying the identity of the company initiating the communication first!