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1West Finance Review: Pros, Cons, & How to Apply

Small business owners looking for fast working capital may want to consider 1West Finance. The lending marketplace offers various small business loan options through its network of lenders.

The costs could run high depending on the product and lender the connection service provides. However, it might be worth it if you can’t qualify for bank loans and need quick funding.

If you’re considering 1West Finance, this review can help with answers to these questions:

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    What is 1West Finance?

    1West is an online lending marketing marketplace offering multiple small business loan options through its network of lenders. The company’s services include quick applications and approval and fast funding – within 48-72 hours of approval for most products.

    With over 50 lending partners, 1West excels at getting customers approved, often with multiple loan offers. However, since it is not a direct lender, costs can vary significantly depending on the product you qualify for and the lender that services it.

    How does 1West Finance work?

    money, finance, loan, service

    You can apply for one of six small business loans through the marketplace. If you’re unsure which program you want, 1West will help you determine the right program with question-and-answer prompts.

    Here are the details on the different programs offered.

    Unsecured Working Capital

    • Loan amount: $5,000 – $1 million.
    • Terms: 2-24 months.
    • Rates: Starting at 18%.
    • Time to Fund: 48 hours.

    The company’s working capital product provides a lump sum of money based on your sales history. It indicates that customers receive around 125% of their monthly sales revenue. Unsecured means it doesn’t require any collateral. Interest is determined using factor rates but doesn’t list a range. It indicates the starting factor rate is the equivalent of an 18% interest rate.

    Commercial Real Estate Loans

    • Amount: $100,000 – $20 million.
    • Terms: 6-60 months.
    • Rates: Starting at 6%.
    • Time to Fund: 2-3 weeks.

    Commercial Real Estate (CRE) loans are used to purchase, renovate, or refinance commercial properties. 1West’s CRE loans are usually related to income-producing properties. Examples include offices, retail spaces, hotels, and apartments.

    Accounts Receivable Financing

    • Amount: $10,000 – $10 million.
    • Terms: N/A.
    • Rates: Starting at 5%.
    • Time to Fund: 2 weeks.

    Accounts receivable (A/R) financing is secured using pending customer payments as collateral. The unpaid invoices in a company’s A/R are assets, and this form of asset-based loan allows you to convert that value into working capital.

    It only works when your customers are reliable and pay on time. Late customer payments will increase costs since the interest applies each time a customer goes beyond their scheduled payment cycle. A/R loans through 1West offer terms of net 30 to net 120 days.

    If you have net 30 terms, the interest is applied every 30 days the customer doesn’t pay. 1West also indicates that you can sometimes structure it as a line of credit.

    Lines of Credit

    • Amount: $5,000 – $500k.
    • Terms: 3-24 months.
    • Rates: Starting at 6%.
    • Time to Fund: 48 hours.

    A business line of credit (LOC) provides an available credit limit; you can draw funds from it as needed. You only repay what you draw, plus interest and fees. In many ways, a line of credit is like a credit card but with more flexibility.

    It’s great for seasonal businesses, ongoing projects, and covering unexpected expenses. 1West’s LOCs are revolving, which means your credit limit replenishes as you pay it off.

    Equipment Financing

    • Amount: $10,000 – $5 million.
    • Terms: 5-60 months.
    • Rates: Starting at 7%.
    • Time to Fund: 1 week.

    Business equipment includes everything from computers and office furniture to manufacturing and construction machinery to commercial vehicles. Most businesses don’t have the capital reserves to purchase these pieces outright.

    Equipment financing allows you to get the equipment you need and pay for it over time. In most cases, the equipment being financed is the collateral for the loan. 1West offers both equipment leases and loans. You can finance new or used equipment.

    SBA Loans

    • Amount: $30,000 – $5 million.
    • Terms: 10-25 years.
    • Rates: Starting at 5.75%.
    • Time to Fund: 1 month.

    1West is an approved marketplace for the SBA loan program, which means it works with SBA-approved lenders. It offers SBA 7(a) loans, the most common and popular SBA loan options.

    The US Small Business Administration (SBA) partially guarantees these loans up to 85%. With backing from the federal government, lenders have the security to offer higher borrowing amounts, lower rates, and longer repayment terms. These loans are often considered the “gold standard of small business loans.”

    What are the qualifications for 1West?

    Like many alternative lending sources, 1West offers lower qualification thresholds than traditional lenders, like banks and credit unions. However, some products are more challenging to get than others.

    The 1West website indicates it will help find business loans for any credit score, but it depends on the lender. Here are the suggested minimum requirements for each product type.

    Unsecured Working Capital:

    • Credit score: 500.
    • Time in business: 3+ months.
    • Revenue: $10k+ monthly.

    Required Documentation:

    • Business application.
    • Last 3 months of business bank statements.

    Commercial Real Estate Loans:

    • Credit score: 500.
    • Time in business: Not listed.
    • Revenue: Not listed.

    Required documentation:

    • 1003 Application.
    • Personal Financial Statement.
    • Real estate schedule.
    • Previous 2 years’ business tax returns.

    Accounts Receivable Financing:

    • Credit score: No minimum.
    • Time business: 2+ years.
    • Revenue: Not listed.

    Required documentation:

    Lines of Credit:

    • Credit score: 500.
    • Time in business: 3+ months.
    • Revenue: $10k+ monthly.

    Required documentation:

    • 6 months bank account statements.
    • Direct connection to online banking (preferred).

    Equipment Financing:

    • Credit score: 550.
    • Time in business: 1+ years.
    • Revenue: $10k+ monthly.

    Required documentation:

    • 6 months bank statements.
    • Equipment invoice.
    • Most recent business tax return.

    SBA Loans:

    • Credit score: 650.
    • Time in business: 3+ years.
    • Revenue: Not listed.

    Required documentation:

    • 6 months bank account statements.
    • Business debt schedule.
    • 2 years of business tax returns.
    • YTD business financials.

    For 1West, You Need to Know That:

    While the listed interest rates are approximations, the actual amount you’ll be charged depends on the lender in 1West’s network. The fees you’re charged can also vary significantly between lenders.

    The lending marketplace uses a combination of AI and human representatives to analyze and approve applications. The company’s Automated Business Lending Engine (ABLE) can quickly return pre-approval decisions.

    Loan brokers and ISOs can take advantage of the lending marketplace’s referral program for bringing in qualified leads and getting them qualified. The website doesn’t provide much detail on this. In its FAQ, it says you must inquire for more information.

    How to apply for 1West Finance:

    Applicants must create an account on the 1West website. Many of the features are only available after creating an account. You’ll provide information about your business, including your industry and the number of employees.

    Here are the basic steps to apply:

    • Step 1: Create an account.
    • Step 2: Select a loan type.
    • Step 3: Apply and compare.

    You can decide to accept or decline any offers after applying.

    1West, Post Funding:

    You’ll set up automatic payments via ACH transfer from your business bank account. The payment schedule depends on the product you receive.

    Unsecured working capital and lines of credit have either daily or weekly payments. SBA loans have monthly payments. The website doesn’t specify repayment schedules for equipment financing or CRE loans. A/R repayment occurs when your customers pay their invoices.

    1West advertises an early payment discount for unsecured working capital. CRE loans, equipment financing, and SBA 7(a) loans will follow an amortization schedule. Paying a line of credit draws early saves on interest, the same as with a credit card.

    What are the advantages of 1West?

    According to the website, the application process only takes 15 minutes. You can receive approval (or denial) for most products within 24 hours.

    It can fund some loans within 48 hours of approval. The interest rates are competitive with similar lending platforms.

    As a lending marketplace, you can apply to multiple lenders with a single application. 1West’s ABLE platform will send you to its lender partners, where you will most likely qualify. It offers programs for every credit score level.

    What are the disadvantages of 1West?

    While the rates are competitive with alternative lenders, the costs are still higher than with a bank or credit union. While it provides helpful product information, getting an accurate cost estimate is difficult.

    Some products require weekly or daily repayment, which can strain your cash flow. 1West also doesn’t provide factor rate ranges, instead representing them as simple interest.

    Pros & Cons:

    pros, and, cons


    • Easy application & quick turnaround.
    • Multiple lending products are available.
    • Costs are competitive with alternative lenders.
    • Fast funding – within 48 hours for some products.
    • Low credit score requirements.


    • Higher rates & fees than traditional lenders.
    • Lack of clarity on terms & factor rate ranges.
    • Must create an online profile to apply.

    Apply for business funding through United Capital Source today.

    1West Finance Frequently Asked Questions

    Is 1West Finance legit?

    Yes, 1West is a legitimate alternative lending marketplace. The Better Business Bureau (BBB) has accredited the company since 2020, where it has an A+ rating. The website is encrypted and secure, and 1West provides its policy on information sharing.

    What do 1West Finance Reviews typically focus on?

    review, 5 stars, managing finances, loan, service

    1West has a mostly positive online reputation. It has a 4.5 out of 5 rating on Trustpilot with over 140 reviews, a 4.1 out of 5 rating on more than 50 Google reviews, and a 3.67 out of 5 customer rating on the BBB, which is good for the watchdog site.

    Positive reviews discuss the convenient application process, fast funding, and excellent customer service. Several users called out their representatives by name.

    Negative reviews largely talk about the cost. Since the marketplace works with 50 lenders, some have higher costs than others. Sometimes, users would get hit with additional fees at closing. Some complaints said that customer service was rude, but the positive mentions far outnumber the negative ones.

    What if 1West declines my finance request?

    1West has multiple programs for lower credit score borrowers. However, you might get a higher interest and shorter terms.

    If declined, the denial letter should explain why. If not, contact the lending service for more information.

    Whether you applied and were declined or decided against the terms and rates offered, there are plenty of other online lending options. Many lenders offer similar programs. You might be interested in the following small business loans from another lender:

    Making Your Decision

    path, feet, shoes

    1West Finance is best suited for borrowers with low credit scores who need quick funding and are willing to pay more to get it. The lending marketplace offers a variety of loan options with a network of over 50 lenders, so most businesses can get approved for a program.

    More established businesses with excellent credit and high revenue can likely find a less costly loan elsewhere. If you’re willing to pay more for fast funding, some lenders are quicker in their turnaround time.

    Based on the available products, user reviews, and website, we rate 1West Financial 4.1 out of 5 stars. It’s worth considering, but the lack of clarity makes comparing costs with other lenders difficult.

    Disclaimer: The 1West trademark is owned by Jaydee Ventures, LLC DBA 1West. and its use herein is for reference purposes only and it does not indicate sponsorship or endorsement from Jaydee Ventures, LLC DBA 1West.

    Apply for business funding through United Capital Source today.

    Why Choose United Capital Source?

    Why businesses choose UCS:

    Quick funding options that won’t affect credit
    Access to 75+ lenders with multiple products to choose from
    Financing up to $5 million in as few as 3 days
    1500+ 5 star reviews from happy clients!

    Ready to grow your business? See how much you qualify for:

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        At UCS, we understand the value of your time and want to ensure that your application has a great chance of approval. Please take note of the following details before applying:
        • To be eligible, it’s necessary to have a business bank account with a well-established U.S. bank such as Chase, Wells Fargo, Bank of America, Citibank, or other major banks. Unfortunately, online-based bank accounts like PayPal, Chime, CashApp, etc., are not permitted.
        • When describing your current average monthly sales deposits to your business bank account, please provide accurate information. Our approval process is based on your current business performance, and it’s essential to provide accurate details about your current sales in the first question on the application form. We cannot approve applications based on projected revenues after receiving funding.
        We appreciate your understanding and cooperation in ensuring a smooth and successful application process.
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