Dealstruck is a peer-to-peer lending platform that provides affordable medium-term loans for small to medium-sized businesses. The San Diego company was launched in 2012 and provides a similar service to Lending Club and Prosper but specializes in established companies that don't quite qualify for traditional bank business loans but shouldn't have to resort to expensive short-term business loans.

How Does DealStruck Work?

Dealstruck offers businesses three types of loans depending on their characteristics and needs: business term loans, revenue secured term loans and asset based lines of credit.

Business term loans are the traditional lending format we are all used to with the best of crowd-sourcing, which allows for more favorable loan terms.

Revenue secured term loans are a good solution for companies with little in the way of assets and profitability that still want low interest rates. It requires companies to direct all their revenue to a bank account managed by Dealstruck where a reserve of three to six months of loan payments is built up. Once the reserve amount is reached any surplus after the current month loan payment flows back to the business' bank account. This reduces the risk for lenders and lowers interest rates.

Asset based line of credit is an attractive option for businesses with considerable assets in accounts receivable that are looking for more reliable cash flow. The business submits their accounts receivable to Dealstruck which calculates a borrowing base using the outstanding invoices as collateral. This provides security to investors and better rates for borrowers.

What Are DealStruck's Interest Rates?

Interest rates vary widely depending on loan type but range from 10% to 38%.

How Much Money Can I Borrow from DealStruck?

Business term loans and revenue secured term loans have a maximum loan amount of $250,000. The maximum loan amount on asset based lines of credit depends on the annual revenue of the company.

What Is the DealStruck Application Process Like?

Business must apply online by posting a loan request with details on the loan amount, term and intended use of the funds. If the business meets Dealstruck's requirements, the loan request is posted for up to 30 days. To qualify companies must be profitable, have annual sales of at least $250,000 and at least one year in business.

Borrowers have to provide a minimum of three months of detailed bank statements by either giving Dealstruck access to their business bank accounts or by uploading the documents manually.

If investors fully fund the loan, the funds are transferred to the borrower's bank account minus a 2 to 5 percent origination fee charged by Dealstruck.

How Is DealStruck Better than Other Lenders?

Dealstruck provides low interest loans that compete favorably with traditional bank loans and leading peer-to-peer marketplaces, such as Lending Club and Prosper. However, other peer-to-peer marketplaces have much lower loan amount limits. Dealstruck also offers longer repayment terms and an all-digital application process, which allows for more flexible terms and a simpler application process.

Although less stringent than banks, Dealstruck still is selective about which companies it does business with, which allows them to offer competitive rates. Therefore, many startups and companies with modest annual revenues will not qualify for a loan.

  • Loan Amount
    $50000 - $250000
  • APR
    10% - 38%
  • Max Loan Term (Months)
  • Military Status
  • Verification Documents Required?
  • Minimum Revenue
  • Minimum Years in Business
  • Business Loan Type
    • Unsecured Term Loan
    • Secured Term Loan
    • Line Of Credit
  • Intended Use of Funds
    • Equipment Purchase
    • Lease Improvements
    • New Location
    • Product or Service Expansion
    • Working Capital
  • Institution Type
    Marketplace Lender
  • Approval Speed (Hours)
  • Funding Time
  • Credit Bureau Reporting
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0 votes

Was referred to deal struck to be disappointed by a slow rejection. My business has been in operation for 2+ years and make $20,000+ a month. I asked for a $50,000 loan and line of credit for inventory. Trent told me they'd get back with some options in 3 or so days. 8 days later, I receive an email stating that underwritting decided to pass due to insufficient cash flow and the business being overleveraged? How? I have 3 MCA that I currently pay $6,000 a month on. Somehow expensive ... MCA see your business as qualifed to pay this, however, these companies that are supposed to help with payments of $2,000-3,000 don't think we can pay it. It's a complete scam to have your business turn to these garbage companies. I believe they are receiving a commission on you getting horrible loans. Btw I have 705 transunion score and co-signor with a 798 and that makes $110,000 annually outside of the business. A complete waste of time. More Less

1 votes

Thanks for wasting my time only to deny my loan. I am a small business owner with reliable income. You are missing out on a great customer.

1 votes

If you are a business owner considering their 38% APR loan you should really rethink whether you are making a good business decision. Think about the margin you'll need to make just to break even. If possible find other ways to move forward beyond trapping your company in a debt spiral.

0 votes

I was so hesitant to take out my first loan for my small business. I built my company on my own hard earned money, so the thought of getting monet elsewhere was completely new to me. I did an extensive amount of research, and eventually came upon Dealstruck, I felt like they were too good to be true. I ended up applying, and it was so much easy, quicker, and simpler than I ever thought it would be! I'd highly recommend them.

0 votes

Truly lives up to the name. you will strike a deal for real! Rates were very competitive and the service is outstanding. Couldn't be happier right now! BBB rates DealStruck as an A+ and I agree

0 votes

I needed to consolidate my small business debt, and lower the interest rates. Ultimately, I was tired of making ridiculous payments with insane interest rates on the business credit cards. Dealstruck was able to consolidate all of our debt, and give us a loan in the amount that we needed. In interest alone, we've been able to save upwards of $5,000 per month. We're excited to save that money and reinvest it into our business.

0 votes

I found that their rates are lower and repayment terms are longer. That's pretty good. You can pretty much do all the application online. But getting approved is tough. Better rates, but more like a bank. Other lenders are easier to get through IMO.

0 votes

When I needed additional funding for my small business, I went on a hunt to find my best option. I researched for hours on the internet, asked around, and even looked into traditional bank loans. After coming across Dealstruck, I came to the realization that they had the best rates for my needs. They have various loan programs, and the loan representatives were extremely helpful with my questions. After applying, I knew I'd made the best decision. The staff is amazing, and the interest is reasonable. I'm very happy, and ... I'd recommend Dealstruck to anyone in need of a small business loan. More Less

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