| Takeaway | Details |
|---|---|
| 🏢 What Elevate Funding Is | Elevate Funding is a revenue-based finance provider offering merchant cash advances and alternative funding to small businesses that may not qualify for traditional loans. |
| ⚡ Fast Approvals & Funding | Many businesses receive approvals within 24 hours, and funding can be deposited the same or next business day. |
| 💰 Funding Amounts & Structure | Elevate typically offers $5,000–$100,000 in financing with fixed payback amounts and factor rates rather than interest. |
| 🧾 Flexible Program Options | Programs include Flex Funds, Embark (up to 8-month terms), Abound, and connections to additional products through LoanBud. |
| 🧩 Easy Qualifications | Businesses can qualify with as little as 3 months in business and a 550 credit score, with no hard credit pull required. |
| 📉 Potential Downsides | Higher costs, daily payments, limited maximum funding, and occasional complaints about fee transparency are common concerns. |
| ⭐ Customer Feedback | Reviews highlight fast funding and helpful customer service, though some negative reviews reference unclear terms. |
| 🏆 UCS Rating | Elevate Funding receives a 4 out of 5 rating as a strong option for revenue-based financing. |
Small businesses often operate with limited cash flow, making it challenging to handle unexpected expenses, invest in business growth, or weather slow seasons. Traditional business loans can be hard to obtain—especially for businesses with poor credit, newer companies, or those facing irregular revenue patterns. As a result, many owners turn to alternative business financing sources to manage cash flow, address financial concerns, and pursue growth opportunities.
Companies like Elevate Funding aim to fill that gap by offering revenue-based solutions designed for small businesses that may not qualify for conventional business loans. These products allow business owners to leverage future sales to access working capital quickly. Still, any business needs to research its options, carefully review contracts, and compare funding products before committing to any financing offer.
In this review, we’ll explore how Elevate Funding works, including the available options, pros and cons, and application process, to help you decide if it’s right for your financing needs. Specifically, we’ll answer these questions and more:
Elevate Funding is a small business funder that specializes in revenue-based finance. Founded in 2015 and headquartered in Gainesville, Florida, the company provides working capital solutions to help businesses manage cash flow challenges and access fast financing without the strict requirements of traditional loans. Its mission is to provide transparent, sustainable, and straightforward funding to small businesses nationwide.
The company highlights a culture built around communication, customer support, and a streamlined application process. Its services are designed for small and midsize businesses that need consistent access to capital for daily operations, emergencies, or growth opportunities. Elevate Funding serves a range of industries, including restaurants, retail, and medical practices.
The team emphasizes assisting business owners who may struggle to obtain bank financing, including those with poor credit or inconsistent revenue. Through its revenue-based finance structure, the company attempts to provide an accessible solution to a wide range of applicants.
Elevate Funding provides merchant cash advances (MCAs) to small and medium-sized businesses. Instead of offering traditional business loans, the company purchases a portion of a business’s future receivables in exchange for upfront capital. This revenue-based model allows the business to repay the funding through a fixed payment structure that draws on future sales.
The company offers two additional funding programs: Flex Funds and Embark. Each program is designed to meet different small business needs, from fast business funding to longer-term financing with better rates.
Funding amounts vary by applicant, but Elevate Funding’s loan amounts typically range from $5,000 to $100,000. As part of its streamlined funding process, fast funding can occur within 24 hours of approval from Elevate Funding.
The company uses factor rates instead of interest, meaning repayment is based on a multiplier applied to the funded amount. Terms and costs vary depending on revenue, industry, and business performance.
Elevate Funding offers a variety of funding programs designed to assist businesses with different financial needs:
Flex Funds: Elevate Funding offers a Flex Funds program that allows business owners to renew their funding and access additional cash flow financing. This program is designed for companies that need ongoing working capital or additional financing after demonstrating consistent payment performance.
Abound: The Abound program offers short-term business funding for businesses with urgent financial needs. It features simple documentation requirements and is designed for quick decision-making, making it a suitable solution for owners seeking fast approvals without extensive paperwork.
LoanBud: LoanBud functions as an aggregator platform that connects businesses with multiple financial products beyond Elevate Funding’s in-house programs. While Elevate does not directly offer business lines or equipment financing, LoanBud may direct applicants to lenders that provide these services through its network.
Embark: The Embark program from Elevate Funding offers better rates and longer terms, with funding terms of up to 8 months. This option is positioned as a more flexible alternative to traditional MCAs.
For small businesses evaluating whether they qualify, Elevate Funding maintains more flexible requirements than banks or conventional lenders. To be eligible for a loan with Elevate Funding, a company must have a credit score of 550 or higher.
However, Elevate Funding does not require extensive credit checks for funding approval, making it more accessible for businesses with poor credit. Companies can qualify for Elevate Funding after being open for as little as 3 months, without a credit check. The company primarily evaluates a business’s revenue performance, transaction history, and ability to maintain consistent payments.
Basic requirements may include:
Revenue-based financing, such as the type Elevate Funding specializes in, differs significantly from more conventional loans. Traditional loans require strong credit, established business history, and collateral. Revenue-based finance, on the other hand, focuses on future sales and repayment ability, making the application process faster and more accessible for many small businesses.
Because revenue-based options use factor rates instead of conventional business loan interest rates, costs can be higher overall. A factor rate is a multiplier—for example, a $20,000 advance with a 1.3 factor rate requires a total repayment of $26,000. This method does not reduce the payoff amount when borrowers pay early, unless the funder offers discounts.
Elevate Funding provides easier access to funding than many competitors, and the company indicates it does not perform a hard credit pull during the application. A soft pull does not impact a business owner’s credit, whereas a hard inquiry can temporarily lower a credit score. However, most revenue-based finance products do not help build business credit, and defaulting on an agreement could lead to collections. Elevate Funding may take legal action if a business stops making payments or fails to follow the repayment schedule.
Online reputations for Elevate Funding are generally favorable, with clients praising the services, team, and assistance they receive. Clients have appreciated the simple application process and the rapid access to funds, which make Elevate Funding a valuable option for those who traditional lenders have turned down. However, customers have reported feeling misled about the financial products offered by Elevate Funding, leading to customer complaints. These concerns typically involve misunderstanding repayment terms, factor rates, or the total amount owed.
Elevate Funding offers an affiliate business lending program. ISOs and business loan brokers can sign up on the company’s website to refer deals and earn commissions.
The small business loan application process for Elevate Funding is designed to be quick and straightforward. Applicants begin by submitting basic business information online, followed by documentation that verifies revenue and identity. Many approvals occur within one business day, and funding may be disbursed shortly afterward.
Below is a step-by-step guide to applying.
Applicants start by providing their business name, contact information, monthly revenue, and funding needs. The online form is short and designed for quick completion.
Elevate may request recent bank statements—typically the past three months—to assess cash flow, account activity, and revenue stability.
After analysis, Elevate Funding presents a funding offer outlining the approved amount, the factor rate, the repayment structure, and the contract terms. Applicants should review the contract carefully to fully understand the fees and obligations.
Once the applicant agrees to the terms, they sign the funding contract. At this point, Elevate verifies documents and prepares the file for funding.
Funding may be deposited directly into the business’s bank account, often within 24 hours of approval.
After receiving financing, repayment begins almost immediately. Elevate Funding’s repayment structure is based on a fixed amount agreed upon in the contract, rather than traditional interest rates. Because the product functions as a merchant cash advance, repayment is tied to future receivables.
Repayments for Elevate Funding’s merchant cash advances are made daily from the business’s bank account or through credit card processing. The company automatically withdraws payments based on the agreement. Elevate Funding does not publicly disclose information about early payoff discounts, prepayment penalties, or specific renewal criteria.
Renewal may be possible through the Flex Funds program, which allows businesses to access additional capital after paying off a portion of their existing balance.
Elevate Funding offers quick access to capital for small businesses that otherwise may not qualify for traditional loans. Its soft credit inquiry process makes the funding more accessible to owners with poor credit, and the same-day or next-day approvals make it an appealing choice for urgent financial needs.
Businesses that struggle with cash flow fluctuations may benefit from this solution due to its fast processing times and flexible programs such as Flex Funds and Embark. The company also receives positive feedback regarding customer service and the ease of the application process.
Revenue-based financing is typically more expensive than bank loans or other debt-based products. Factor rates can lead to a higher total repayment amount, and fixed daily payments may strain cash flow for businesses with inconsistent revenue patterns.
Elevate Funding’s maximum loan amount is $100,000, which may not be sufficient for larger businesses compared to other lenders’ higher limits. Some customers report a lack of transparency regarding fees, terms, and the total payback amount, which contributes to negative reviews questioning the quality of communication. Additionally, because the company may take legal action if a business stops making payments, owners must carefully manage repayment obligations.
Pros:
Cons:
Yes, Elevate Funding is a legitimate business funder. Its online profiles, Better Business Bureau listing, and user reviews further support its legitimacy.
Elevate Funding has been in operation since 2015, indicating a stable presence in the market. The company displays transparent contact information, a U.S.-based office location, and publicly available program details.
Customer experiences with Elevate Funding are mixed, with positives including fast funding and negatives such as a lack of transparency regarding fees and terms. Most reviews for Elevate Funding are positive, indicating that it is a trustworthy and well-regarded company. Elevate Funding has a Trustpilot rating of 4.5 out of 5 based on user reviews.
Many users mention quick response times, attentive service, and a team willing to assist throughout the process. Users praise Elevate Funding for fast processing and customer service, while criticisms often mention unclear fees and poor communication. Elevate Funding has received positive reviews for its customer service and professionalism.
Many negative reviews highlight the lack of transparency regarding borrowing fees and repayment periods associated with Elevate Funding’s products. Some customers report feeling confused about the total payback amount after signing, indicating that factor rates and fixed payment structures were not clearly explained during the application process.
Others mention that communication gaps made it difficult to understand how daily payments would impact their cash flow. A few recent review submissions also note frustration with customer support follow-up once funding was issued, particularly when attempting to clarify contract terms or request additional information.
Elevate Funding may deny a funding application for various reasons. If the company rejects your request, it should provide a written notice indicating the reasons for the denial. If not, or if you require additional information, contact Elevate Funding directly.
Fortunately, small business owners have many lending options to consider if Elevate Funding doesn’t work for their needs. Various online funders offer revenue based financing options in addition to conventional debt financing.
Working with a small business loan marketplace, like United Capital Source (UCS), allows you to apply to a network of lenders and receive multiple offers. A loan expert can then help guide you through your options to choose the best deal for your small business.
You may be interested in one of the following small business loans:
Elevate Funding can be a suitable option for small businesses that need fast access to capital and cannot qualify for traditional financing. Companies with poor credit, young businesses, and those seeking flexible revenue-based financing options may benefit from its programs. Businesses with predictable sales and daily transaction volume may also find the repayment structure manageable.
However, larger businesses or those seeking lower-cost financing, longer terms, business lines of credit, or equipment financing may want to consider alternatives. Because revenue-based finance is generally more expensive than traditional loans, owners should carefully evaluate their repayment ability and fully understand the contract before signing.
Based on the available information, we rate Elevate Funding 4 out of 5. It’s a solid option for revenue-based finance, but it lacks other essential financing options.
Disclaimer: The Elevate Funding trademark is owned by Elevate Funding, LLC, and its use herein is for reference purposes only, and it does not indicate sponsorship or endorsement from Elevate Funding, LLC.
