We spent 17 hours researching and reviewing 1West. Then we put it all together in this analysis to help you choose the right business loan solution based on your needs.
1West Finance is a business loan marketplace that connects applicants with loan providers in its network of 50+ lenders. Founded in 2017, the company holds an A+ BBB rating and a 4.8-star average on Trustpilot from over 1,300 verified reviews. In this review, we break down 1West Finance reviews from real customers, rates, products, and requirements so you can decide if this platform is worth your time.
| Feature | 1West |
|---|---|
| Loan broker | Yes |
| Loan amount | $5,000 – 15M |
| Loan term | 3 months – 10 years |
| APR | Varies by product |
| Interest rate | Min 5% |
| Min. credit score | Not specified |
| Monthly fees | None |
| Time to receive loan | Within minutes if eligible |
| Weekend pay-out | No |
| Requirements | Application, Bank Statements, Monthly Revenue, 3 Months in Business |
Who is 1West for?
1West caters primarily to small businesses looking for quick access to capital. Their 1West business loans are particularly well-suited for companies that need fast funding for growth opportunities, equipment purchases, or working capital needs.
Requirements you must fulfill
To qualify for financing with 1West, you'll need to:
Be in business for at least 3 months
Generate at least $5,000 in monthly revenue
Provide 3 months of business bank statements
Unlike many traditional lenders, 1West doesn't prominently advertise a minimum credit score requirement. This suggests they may be open to working with businesses across a range of credit profiles. Some sources indicate a minimum personal credit score of 500 may apply for certain products, though this varies by lender in their network.
1West is best for...
1West is best for newer businesses that struggle to qualify for traditional bank loans but need substantial funding. Their quick approval process makes them ideal for business owners who face time-sensitive opportunities or challenges and need capital within days rather than weeks.
They're particularly valuable for businesses with strong revenue but limited credit history or time in business, as they focus more on cash flow than traditional lending criteria.
1West is not for you if…
1West is not for you if you’re looking for the absolute lowest interest rates on the market. Traditional banks might offer better rates if you have excellent credit and can wait through their lengthy approval processes.
Very small businesses making less than $5,000 monthly will find it difficult to qualify. Also, if you prefer face-to-face interactions with your lender, 1West’s primarily online application process may not satisfy your preferences.
Complete the online application
Fill out basic information about your business, including how long you’ve been operating, monthly revenue, and the amount of funding you need.
Submit required documentation
Upload at least 3 months of business bank statements and any other requested documents through their secure portal.
Receive your funding offer
After review, a 1West funding specialist will contact you with available options, typically within 24 hours.
Receive your funds
Once you accept an offer, sign the agreement electronically, and funds can be deposited into your account in as little as 24-72 hours.
Consider this before applying
Before applying, review your business cash flow to ensure you can comfortably meet repayment terms. Have your business financial documents organized to speed up the process. Also, understand that while 1West offers quick funding, faster financing often comes at a slightly higher cost than traditional bank loans, so consider if the timing advantage justifies potentially higher rates.
Business Loans Available Through 1West
1West offers various business financing products, each with its own structure. While they don’t publish a comprehensive fee schedule on their website, here’s what we’ve gathered about their offers:
| Financing Type | Interest Rates | Amount | Term Length |
|---|---|---|---|
| Unsecured Working Capital | Starting at 18% | $5K-$1M | 2-24 months |
| Equipment Financing | Starting at 7% | $10K-$5M | 5-60 months |
| Real Estate Financing | Starting at 6% | $100K-$20M | 6-60 months |
| Lines of Credit | Starting at 6% | $5K-$500K | 3-24 months |
| SBA Loans | Starting at 5.75% | $30K-$5M | 10-25 years |
| Accounts Receivable Financing | Starting at 5% | $10K-$10M | No minimum |
The actual rates you’ll qualify for depend on your business’s financial health, time in business, credit score, and the specific loan product. For the most accurate information, you’ll need to complete an application and receive a customized quote.
Is 1West Right for Your Business?
1West shines as a flexible business financing solution that prioritizes speed and accessibility over the stringent requirements of traditional banks. Their approach focuses on your business's actual performance rather than just credit history, opening doors for growing companies that need capital quickly.
The ability to fund within 24-72 hours for working capital puts 1West ahead of competitors when time-sensitive opportunities arise. While their rates may be higher than traditional banks for the most qualified borrowers, they provide a valuable service by filling the gap for businesses that need substantial capital but don't meet conventional lending criteria.
So, is 1West Finance legit? With an A+ BBB rating and 4.8-star average across 1,300+ Trustpilot reviews, 1West has built a solid track record since its founding in 2017. If you've been in business for at least 3 months, generate steady revenue, and need funding quickly without excessive paperwork, 1West deserves serious consideration.
1West FAQs
Is 1West legit?
Yes, 1West is a legitimate business financing marketplace based in Iselin, New Jersey with an additional office in New York. The company has been BBB-accredited since 2020 with an A+ rating and holds a 4.8-star average on Trustpilot from over 1,300 verified reviews. They've operated since 2017 and connect businesses with a network of 50+ lenders.
How quickly can I get funded through 1West?
For working capital loans and lines of credit, 1West can provide funding in as little as 24-72 hours after approval. However, other products like SBA loans, equipment financing, and real estate loans typically take several weeks to process and fund due to their complexity and documentation requirements.
What types of business financing does 1West offer?
1West offers six main financing products: unsecured working capital ($5K-$1M), equipment financing ($10K-$5M), real estate financing ($100K-$20M), lines of credit ($5K-$500K), SBA loans ($30K-$5M), and accounts receivable financing ($10K-$10M). Interest rates range from 5% for receivables to 18%+ for unsecured working capital.
What credit score do I need to qualify for financing with 1West?
1West does not publicly specify a strict minimum credit score requirement. Since they work with 50+ lenders, each may apply different criteria. Some sources indicate a minimum personal credit score of 500 for certain products like equipment financing. 1West focuses more on business cash flow and revenue than on credit scores alone.
How much can I borrow from 1West?
Loan amounts range from $5,000 for working capital up to $20 million for real estate financing. The amount you qualify for depends on your business revenue, time in operation, credit profile, and the specific financing product. Equipment financing goes up to $5 million, and SBA loans top out at $5 million.
Can startups get financing through 1West?
1West requires just 3 months in business and $5,000 in monthly revenue, making them far more accessible than traditional lenders that often require 2+ years of operation. Equipment financing has a slightly higher bar at 1 year in business and $10,000 in gross monthly sales. As long as you meet the minimum requirements, relatively new businesses can qualify.
What is the easiest business loan to get approved for?
Through 1West, unsecured working capital loans tend to be the easiest to get approved for since they only require 3 months in business and $5,000 monthly revenue. The approval process takes as little as 24 hours. Lines of credit also have relatively low barriers. SBA and equipment loans have stricter requirements but offer better rates in return.
Disclaimers
All funding subject to credit approval and standard underwriting criteria
Business loans provided through third-party lender network
Rates and terms determined by:
Time in business
Annual revenue
Business type and industry
Bank account balances
Business owner(s) credit profile
Additional underwriting factors may apply
