Last Updated: 06/21/2025
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Highlights
Amount Range
$5,000 - $100,000
APR (Fee-Based Product)
3% - 52%(Verified 06/21/2024)
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Loan Term (Months)
N/A
FastPay Review
FastPay is a business financing offering by FastPay Partners LLC, based in Los Angeles, CA. Founded in 2009, FastPay Partners LLC offers access to small business loans in 48 states (and Washington, DC).
FastPay FAQ
What are FastPay rates?
This is a fee-based business loan. This means borrowers pay a percentage of the business loan balance as a fixed-fee instead of an ongoing APR. FastPay offers small business loans with a finance charge ranging from % to % of the business loan's amount.
The equivalent APR will vary depending on the terms. SuperMoney tried to run the numbers and a typical APR for this product ranges from 3% APR up to 52% APR.
Does FastPay charge an origination fee?
No, FastPay does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a business loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does FastPay charge prepayment fees?
No, FastPay does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.
How much can you borrow from FastPay?
Business loan amounts start at $5,000 and go up to $100,000.
What do you need to qualify for FastPay?
FastPay requires companies to be in business for at least month Businesses don't have to meet a minimum annual revenue to be considered.
Applicants with a credit score of at least 500 and up to 850 may be eligible for FastPay. U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by FastPay.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
Does FastPay Partners LLC perform a hard credit pull?
Yes, FastPay performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from our editor
What We Love About Fastpay Loans
Fastpay Loans offers a financial alternative for new businesses that need venture capital. Those who don’t have established credit and need to find a way to fund their business can use equity to exchange for capital, offering a solution to help digital media brands grow and thrive. This type of funding is as unique as the people who need it, and it is changing the way the media industry finances its business needs.
Another big selling point of Fastpay Capital is that the team is comprised of people who understand the difficulties and unique nature of modern financing and have backgrounds in finance, media, entertainment, legal, technology, and design. This means that the company truly understands the lending needs of this industry.
What Could Fastpay Do Better?
The entire premise of Fastpay is that businesses are given financing for their operations and then asked to repay those funds by using a percentage of their sales or income. The concept is good. The disadvantage is this they don’t generally give you choices or terms on the repayment end. Fastpay will typically require a percentage of each sale to repay the loan.
Fastpay Backstory
Fastpay was founded in 2009 as a financial technology brand that helps provide liquidity and financial workflow solutions to the digital media industry. The company leverages proprietary analytics and technology to address common issues like inefficient processes and long payment terms, helping companies get the capital they need. Their headquarters are in Los Angeles, and the company also has offices in New York, Boston, San Francisco, and London.
Since the company was founded, it has originated more than $2 billion in working capital loans for small to mid-size businesses.
The Verdict
When a company is not in a place to take on a traditional loan, Fastpay is easy with no personal guarantees or credit checks required. Funding is also quick and seamless, alleviating concerns for several small media companies.
You can compare all kinds of working capital funding solutions by comparing business loans and more. See how Fastpay stacks up to other lenders with our reviews at Supermoney.com.
Other Services by FastPay Partners LLC
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