SoFi directly lends to small businesses through SoFi Bank, N.A. — a loan of $2,500 to $250,000, priced as an APR with no origination fee and no prepayment penalty, with a soft-pull rate check that doesn’t affect your credit score. That’s a genuinely strong offer for a fintech. The catch is what SoFi doesn’t publish, and what happens above $250,000. Here’s exactly what SoFi offers a business, and how REIL Capital compares.
What SoFi Offers a Business
SoFi’s business financing is really two different things under one brand. The first is a direct small-business loan originated by SoFi Bank, N.A. (an FDIC-insured bank) — a real first-party lending relationship, not a referral. It runs from $2,500 to $250,000, is priced as an APR rather than a factor rate, and carries no origination fee and no prepayment penalty. You can check your rate with a soft credit pull that doesn’t affect your score, and most approved borrowers receive funds within 24 hours if the agreement is signed by 2:45 PM ET on a business day (SoFi is explicit that this timing isn’t guaranteed).
The second is Lantern by SoFi, a financing marketplace. In SoFi’s own words, “connecting customers to small business lenders is a service offered by SoFi Lending Corp. under the Lantern brand,” and SoFi Lending Corp. “does not directly extend small business financing.” On the Lantern side, the rates, fees, credit limits, and terms are set by whichever third-party lender you’re matched with — not by SoFi. It’s where SoFi routes needs its direct loan doesn’t cover, including amounts above the $250,000 cap.
One thing SoFi doesn’t disclose is its bar to qualify: there’s no published minimum credit score, time in business, or revenue requirement for the direct loan — only that your business is U.S.-based and meets SoFi’s underwriting. That makes it hard to know before you apply whether you’re a fit.
SoFi vs. REIL Capital, Side by Side
| Factor | SoFi | REIL Capital |
|---|---|---|
| Direct lending amount | $2,500–$250,000 (SoFi Bank, N.A.) | Seven financing products spanning $5,000–$10,000,000; line of credit $5,000–$1,000,000 |
| Above the cap / if declined | Routed to the Lantern marketplace, where third-party lenders set the terms — SoFi sets none | One team works your application across REIL Capital’s own product range, start to finish |
| Published eligibility | None stated — U.S.-based business that “meets SoFi’s underwriting”; no score, revenue, or time-in-business minimum published | Line-of-credit bar published: 600 credit score, 1 year in business, $300,000 annual revenue |
| Rate | APR-priced, no published range; no origination or prepayment fee | Priced per applicant — ask about the full fee schedule for your specific product |
| Application | Soft-pull rate check online | About a two-minute online application |
SoFi is a legitimately strong option for what it directly offers: a bank-originated loan up to $250,000, no origination fee, and fast funding when everything lines up. The honest limits are that it publishes almost none of its qualification criteria, and anything beyond $250,000 — or a decline — hands you off to a third-party marketplace where SoFi no longer controls the deal.
When SoFi Might Be the Right Fit
If you need $250,000 or less, want a straightforward APR-priced loan with no origination fee, and like being able to check your rate without a hard credit pull, SoFi’s direct product is a clean, well-structured option — particularly attractive if you value fast funding and are confident you’ll clear its (unpublished) underwriting bar.
When REIL Capital Makes More Sense
If you want to know the qualification bar before you apply, need more than $250,000, or would rather one team handle your financing end to end than be matched to a third-party lender you haven’t vetted, REIL Capital is built for that. REIL Capital works across seven financing products — from a line of credit to larger facilities — on deals from $5,000 to $10,000,000, with a published line-of-credit bar (600 credit score, 1 year in business, $300,000 in annual revenue) and an application that takes about two minutes. On some products, approval comes within 24 hours.
Frequently Asked Questions
Does SoFi directly lend to small businesses?
Yes, in part. SoFi Bank, N.A. directly originates a small-business loan of $2,500 to $250,000. But SoFi also runs the Lantern marketplace, where — in SoFi’s own words — SoFi Lending Corp. “does not directly extend small business financing” and instead connects you to third-party lenders. Amounts above $250,000 go through that marketplace.
What credit score do I need for a SoFi business loan?
SoFi doesn’t publish a minimum credit score, time-in-business, or revenue requirement for its direct small-business loan — only that your business is U.S.-based and meets its underwriting. You can check your rate with a soft pull that doesn’t affect your score before committing.
How fast does SoFi fund a business loan?
SoFi states most approved borrowers receive funds within 24 hours if the loan agreement is signed by 2:45 PM ET on a business day, though it notes that timing isn’t guaranteed and excludes weekends and federal holidays.
How is REIL Capital different from SoFi?
REIL Capital publishes its line-of-credit qualification bar (600 credit score, 1 year in business, $300,000 annual revenue), lends across seven products on deals up to $10,000,000, and keeps one team on your application end to end — rather than capping direct lending at $250,000 and routing larger or declined requests to a third-party marketplace.
Explore Your Options With REIL Capital
See REIL Capital’s business line of credit, compare alternatives to Bank of America business loans, or call our team at 646-440-4100 to talk through financing built for your business’s stage and size.
