![]() In fact, it’s one of the top 100 SBA 7(a) lenders in the country. (A random pop-up ad for a completely different lender didn’t reassure us.)ĭon’t worry―it turns out that Harvest Small Business Finance is, in fact, a real lender. That might sound petty, but it looks ugly enough and generic enough that we seriously questioned whether or not Harvest is a real company. But Harvest also doesn’t have basic information about things like borrower requirements or interest rates (outside of an ugly widget that lists the Prime rate).Īnd we really cannot overstate how bad the website looks. You can’t apply for its business loans online, for starters. Harvest might have the worst website we’ve seen from a lender. And honestly, looking at its website, we get it. We saw a couple reviews that accuse Harvest of being a scam company. But if it does this bad of a job with PPP loans, do you really want to trust Harvest with a real estate loan? And sure, these complaints all focus on PPP loans rather than its usual SBA 7(a) loans. In other words, it looks like Harvest made a real mess of things. not this badly.īusiness owners complain that Harvest messed up their paperwork (meaning they couldn’t get a second PPP loan), never disbursed the full PPP loan amount, sent the loan proceeds to the wrong bank account, refuse to answer communications (or even hang up on business owners), won’t accept PPP loan forgiveness applications, and have plenty of other issues. And to Harvet’s credit, we understand lots of lenders messed up the PPP loan process. They mostly come from small-business owners who got (or tried to get) PPP loans through Harvest. 2 Now, we know that businesses usually get harsher reviews on their BBB pages, and we’ve seen lenders get low scores on the BBB that get good scores elsewhere.īut the reviews themselves really concern us. Harvest earns a 1.12 out of 5 on its Better Business Bureau profile. So let’s talk about how Harvest compares to the competition.īy far, Harvest’s biggest drawback is its customer reviews. That said, neither of these features is unique to Harvest. Yeah, you’re still looking at 30 days until closing―but you’ll know whether or not you’ve been approved way faster than you would from many other lenders. The approval process can drag out from days to weeks with a non-preferred lender.īut as an SBA-preferred lender, Harvest brags that it offers loan approvals in just two to four days. That matters because SBA loans can take a long time. That doesn’t just mean the Small Business Administration thinks Harvest is cool―it means Harvest can make lending decisions in-house instead of requiring SBA approval. Second, Harvest is what’s called an SBA-preferred lender. But the regulated interest rates on SBA loans makes them very competitive when compared to alternative business loans from online lenders. And sure, you may find lower interest rates from a traditional bank. We’ve found a couple features that make Harvest worth considering.įirst, the interest rates. Sound doable? Then let’s talk more about what makes Harvest good.
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