SoFi Blog

Tips and news—
for your financial moves.

Mar
18
2024

SMB

By | 1_Web_Lantern | Comments Off on SMB

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SMALL BUSINESS LOANS MARKETPLACE

Grow your small
business the right way.


Search for financing

(without impacting your credit score)†

SoFi’s marketplace is owned and operated by SoFi Lending Corp. Expand for Advertising Disclosures.


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Advertising Disclosures: The preliminary options
presented on this site are from lenders and providers that
pay SoFi compensation for marketing their products and
services. This affects whether a product or service is
presented on this site. SoFi does not include all products
and services in the market. All rates, terms, and conditions
vary by provider. See SoFi Lending Corp. licensing information below.


  • One simple search

    Explore your options in one place with no impact to your
    credit score.†

  • Get up to $2 million

    Large or small, grow your business with funding that’s a fit for you.

  • As soon as the same day funding*

    Receive funds as soon as the same day you’re approved.

  • Save time

    Shop and compare your financing quotes in minutes.


Search for financing

(without impacting your credit score)†

SoFi’s marketplace is owned and operated by SoFi Lending Corp. Expand for Advertising Disclosures.


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expand={} />}
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Advertising Disclosures: The preliminary options
presented on this site are from lenders and providers that
pay SoFi compensation for marketing their products and
services. This affects whether a product or service is
presented on this site. SoFi does not include all products
and services in the market. All rates, terms, and conditions
vary by provider. See SoFi Lending Corp. licensing information below.


{/* Easily find small business financing in three easy steps. */}

Easily find small business financing
in three steps.


  • Shop in one place.

    Use our marketplace search to look for small business
    financing quotes.


  • Find a quote that works for you.

    We’ll match you up with a provider with the financing that suits your goals.


  • Get funded.

    You could receive funds as soon as the same day you’re approved*


Search for financing

(without impacting your credit score)†

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Access the capital your small business
needs with
one simple search.



Grow your business and take it to its next stage.

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Finance the equipment or machinery you need to run your business.

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Support and manage everyday operational expenses for your business.

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Cover business payroll and invoices on time with payroll financing.

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Launch your business with initial capital needed.

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Search for financing

(without impacting your credit score)†

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What is SoFi’s marketplace?

SoFi’s marketplace is our service to help members shop
and find business financing. While SoFi doesn’t provide
business loans directly, our marketplace can help you
quickly find the financing solutions you need for your
business. Explore your options from a provider in minutes
with one simple search.


Search for financing


(without impacting your credit score)†


Read more
Mar
14
2024

Financial Insights

By | Uncategorized | Comments Off on Financial Insights

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FINANCIAL INSIGHTS

Track your
money

like a
champion.


Get started

  • Easy to use dashboard

    Connect and view your accounts in one place.

  • Budgeting made simple

    Create budgets and review spending habits.

  • Free credit score

    Monitor your score and get updates when it changes.

  • Safe and secure

    Rest easy with multifactor authentication.


Get started

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Knowing your credit
score is the
first step to financial wellness.

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Keeping score

Get weekly updates, understand the factors that drive your credit score, and get rewards points* every time it goes up five points or more.

You’re covered

With multi-factor authentication, you can rest assured that your personal data is safe and secure.

Check it anytime

We only do a “soft” pull on your credit, so it won’t hurt your score or your wallet—plus it’s free.†

Powered by TransUnion®

Get your VantageScore® 3.0 credit score, a model developed by all three national credit reporting companies.


Get started

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Don’t take our word for it.
See what members have to say.

I love using SoFi to see an up to date snapshot on my full financial picture. Being able to pull in all my accounts, review equity in my home, and monitor my credit score gives me a true one stop shop to “get my money right.” Having up to date info all pulled together let’s me save time and feel confident that I know my full financial picture.

—Brad S.

Actual SoFi Ambassador.

SoFi has been the best tool to save me time, money and helps me accomplish my future financial goals and the best of all it’s all in one app. The setup is simple and you never have to go through several logins to see all your information on one screen.

—Anja C.

Actual SoFi Ambassador.

The best part about using SoFi is the ability to see your financials broken down by cash, investments, credit cards, loans and property. IT helps me have a better understanding of where all of my money lives and how it increases or decreases my net worth over time. SoFi has helped me become more confident with my financials and help me start to better prepare for retirement. This is a tool that everyone should take advantage of.

—Betty T.

Actual SoFi Ambassador.

SoFi has been incredibly helpful in having a clear, consolidated picture of my finances. A regularly updated credit score encourages me to constantly improve it, while seeing my investments gives me confidence for future goals and retirement. SoFi also keeps me honest when spending money and guides me towards better habits.

—Ethan T.

Actual SoFi Ambassador.

The best part about SoFi is the ability to see all my accounts, investment, credit, and more all in one place. SoFi offers me a one-stop-shop to view my net worth on all one platform. My spending and investing habits have improved thanks to the ability to see upcoming recurring expenses, monthly savings, and spending categories. Credit score monitoring also provided me with reminders that I was doing the right thing with my credit habits. All in all, I feel more confident than ever to lead my wallet into the world safely.

—Austin W.

Actual SoFi Ambassador.


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FAQs


What accounts can I link?
You can link your deposit account (checking, savings), investment, and retirement accounts as well as credit cards, student loans, mortgages, and other liabilities. If you’re not able to link your account, you will be able to manually add an account or asset (like an owned car or home) so that you’re able to see your entire net worth.


What are the primary components of my credit score?

SoFi leverages the TransUnion VantageScore 3.0 model which includes several key components:

  • Payment History – comprised of whether you regularly pay your bills on time.
  • Credit Age and Type – average age of your credit accounts and mix of various types such as revolving debt and installment debt. An example of revolving debt is a credit card and an example of installment debt is a student loan.
  • Credit Utilization – the percentage of your credit limit you currently have outstanding.
  • Balances – balances on your credit accounts including current balances as well as delinquent accounts.
  • Inquiries – recent inquiries or applications for new credit.
  • Available Credit – amount of available credit that is unused.



Will checking my credit hurt my credit score?

Checking your own credit report is considered a soft inquiry, which does not impact your credit score.



Why does my credit score matter?

Your credit score is used by lenders, among others, as they review your applications for credit and determine your creditworthiness which might influence if they are willing to extend credit and at what terms. It might also be used by landlords, utility providers, and prospective employers.


See more FAQs

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Learn more about budgeting.








See more articles

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Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

INVESTMENTS: NOT FDIC INSURED • HAVE NO GUARANTEE • MAY LOSE VALUE. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The SoFi Wealth platform is operated and maintained by SoFi Wealth LLC, an SEC Registered Investment Advisor. Brokerage services are provided to clients of SoFi Wealth LLC by SoFi Securities LLC, an affiliated broker-dealer registered with the Securities and Exchange Commission and a member of FINRA /SIPC . Clearing and custody of all securities are provided by APEX Clearing Corporation. For more information, please see SoFi Wealth LLC’s Form ADV Part 2 by clicking here for SoFi's Wealth Form ADV Part 2 A&B or by visiting www.adviserinfo.sec.gov .
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