1West Finance Review: High Ratings, High Rates

Is 1West legit?

Yes, 1West Finance is legit. It’s a privately held company founded in 2017, with headquarters in New York, NY. It’s been accredited with the Better Business Bureau (BBB) since 2020 and has an A+ business rating.

While no company can guarantee 100% security, its website is encrypted and its privacy policy covers a variety of details on how and why your information is collected and shared.

What makes 1West shine?

1West stands out for its network of 50+ lending partners and wide range of business loan products that make it straightforward to compare multiple options in one place. It works with some of the top names in the business lending space, including OnDeck, BlueVine and Smartbiz.

As a fintech company, its Automated Business Lending Engine (ABLE) lets you apply in as little as 15 minutes without having to talk to a loan officer. It also gets high marks from many customers on the Trustpilot and the Better Business Bureau (BBB) website, who praise the company for its helpful and professional loan officers

Where 1West falls short

Compared to some other business marketplaces, 1West’s application is quite extensive, requiring a lot of personal and financial information upfront. Other marketplaces, like businessloans.com, for example, only require basic information to get you prequalified to see your loan offers.

Some customers have complained about providing a lot of information to 1West and not being able to reach the company afterward. If you’re uncomfortable with providing so much information out of the gate with 1West, you can also call the company to connect with a loan officer first.

1West’s loan details

1West isn’t a direct lender, but it lets you compare LOCs, SBA loans, equipment financing, accounts receivable financing, real estate loans and unsecured working capital loans. Keep in mind that while the 1West service is free, lenders may charge origination and other fees that can affect your loan’s APR.

Read through your loan agreement carefully to make sure you understand how your loan payments work and if you’re on the hook for any fees, including prepayment penalties.

1West contact details

How to qualify for 1West

Eligibility requirements vary by lender and loan product, but 1West lists the following criteria as the minimum:

• Credit score of 500
• 3 months in business
• 3 months of business bank statements
• $10,000 a month in revenue

1West also requires the following documents to be uploaded with your application:

• Government-issued ID
• Voided check for business bank account

You may also be asked to provide additional documents, like a profile and loss statement or a balance sheet. 1West doesn’t accept personal statements, tax returns or cash receipts as proof of revenue.

How to apply with 1West

To apply with 1West, follow these steps:

1. Start the application. Fill out 1West’s application by entering your personal and business information, including your Social Security number.
2. Upload your documents. You’ll be asked to upload your business bank statements during the application process.
3. Sign your application. Sign the 1West agreement and submit your application for loan preapproval.
4. Link your bank account. You’ll be required to link your bank accounts so 1West can verify your business finances.
5. Compare your offers. If eligible, you should receive offers from the lenders in the 1West network. If you have any questions or need help, call 1West during business hours.

1West claims its application process can take as little as 15 minutes and doesn’t include a hard credit pull.

How 1West compares to other lenders

If this marketplace isn’t right for your business needs, take a few minutes to compare these connection services. Select Go to site or Read Review to learn more about the requirements and options these services offer.

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Olympus Business Capital Finder Score: 4.4 / 5: ★★★★★ Olympus Business Capital Finder Score: 4.4 / 5: ★★★★★			$500	$250,000	Not stated	Been in business for 6 months registered with the state, active and open bank account in business name, have $10,000 of revenue each month	No credit needed. Funding up to $250,000 with a variety of finance options to best fit your business needs.	Go to site Compare	loading Fetching your data...
$10M+ funded! Lendio business loans Finder Score: 4.8 / 5: ★★★★★ Lendio business loans Finder Score: 4.8 / 5: ★★★★★			$1,000	$10,000,000	Varies by lender	Operate business in US or Canada for 6 months or more, have a business bank account, minimum 520 personal credit score, at least $8,000 in monthly revenue.	Submit one simple application to potentially get offers from a network of over 75 legit business lenders.	Go to siteMore Info Compare	loading Fetching your data...
Fundera business loans Finder Score: 4.9 / 5: ★★★★★ Fundera business loans Finder Score: 4.9 / 5: ★★★★★			$2,500	$5,000,000	Varies based on lenders	$60,000+ of annual revenue, 550+ personal credit score, in business for 6+ months	Get connected with short-term funding, SBA loans, lines of credit and more.	Go to siteMore Info Compare	loading Fetching your data...
Fora Financial business loans Finder Score: 4.5 / 5: ★★★★★ Fora Financial business loans Finder Score: 4.5 / 5: ★★★★★			$5,000	$1,500,000	Varies	6+ months in business, $25,000+ gross monthly sales, no open bankruptcies	Get qualified for funding in minutes for up to $1,500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.	Go to siteMore Info Compare	loading Fetching your data...
National Funding business loans Finder Score: 4.6 / 5: ★★★★★ National Funding business loans Finder Score: 4.6 / 5: ★★★★★			$5,000	$500,000	Undisclosed	In business 6+ months and make at least $250,000 in annual sales. Other loan types have additional requirements.	Working capital loans and equipment financing, some high-risk industries may be eligible.	Go to site Compare	loading Fetching your data...
American Express® Business Line of Credit Finder Score: 4.4 / 5: ★★★★★ American Express® Business Line of Credit Finder Score: 4.4 / 5: ★★★★★			$2,000	$250,000	N/A	Minimum FICO score of at least 660 at the time of application, have started your business at least a year ago, and an average monthly revenue of at least $3,000	Access lines of credit for your small business even if you aren't currently an Amex customer.	Go to siteMore Info Compare	loading Fetching your data...

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1West reviews and complaints

The vast majority of customers who left reviews online rave about their experiences with 1West, specifically calling out the representatives they worked with by name and mentioning the exceptional service they received.

Complaints mention lackluster customer service and 1West staffers advising applicants to apply despite being ineligible. Other customers have complained that loans had high APRs or that they got matched with programs that didn’t fit their needs.

What are people saying on Reddit?

There isn’t much chatter about 1West finance on Reddit. A few comments mentioning the company seem to be promotional messages from an employee, specifically for PPP loans during the Covid pandemic. Others posted threads asking if 1West was a legit company, and a few replies claimed that the site “looked legit” but no one with direct experience with the company commented.

Frequently asked questions

Can I qualify with bad credit?

Yes, 1West offers loans for people with less-than-stellar credit. It’s possible to qualify for some types of financing through 1West with a credit score as low as 500.

Am I required to speak to a loan officer over the phone?

No. 1West’s Automated Business Lending Engine (ABLE) can provide financing options without requiring you to talk to someone over the phone.

1West Unsecured Working Capital is not currently available on Finder

Have you considered Olympus Business Capital?

No credit needed. Funding up to $250,000 with a variety of finance options to best fit your business needs.

• Borrow up to $250,000
• Apply in 5 minutes
• Funding by next business day
• Required time in business: 6+ months
• Required monthly revenue: $10k+
• Min credit score: No credit needed

Learn more

No thanks, compare other business loan options.