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Atlas One Fund Review

Sunday, April 21st

2024 Business Loan Provider Reviews

Atlas One Fund Review 1 Star Rating

Atlas One Fund

1 Star Rating
  • Between $5,000 and $5,000,000 loan options
  • 24-hour funding for approved applications
  • No collateral is required for most products
  • Flexible repayment terms
  • Various financing options for different needs
  • Fast online or phone application

Atlas One Fund is a business loan provider that provides multiple financing options for small businesses that want money for their operations faster than traditional bank loans. Atlas One Fund isn't a bank, so it can provide a streamlined funding process that business owners can use to access the capital they need to launch and grow their operations in a more timely manner than through other means.

Financing options are varied

Atlas One Fund offers several financing products to meet different business needs, including a Merchant Cash Advance (MCA). It provides a lump sum of cash in exchange for a percentage of future credit/debit card sales with no credit score requirements and funding within 24 hours. Another option is a Business Loan, which serves as an unsecured loan alternative to bank loans. It does not require collateral and has a fast approval process within 24 hours. All of Atlas One Fund's financing products have flexible repayment terms and do not require minimum credit scores, and businesses in any industry can apply.

Business Line of Credit

Additionally, they offer a Business Line of Credit that provides access to a revolving line of credit up to $500,000. With a Business Line of Credit, businesses only repay amounts withdrawn plus interest and can receive 24-hour approval. Finally, they offer Equipment Financing in the form of loans or leases to purchase equipment with terms of up to 5 years, requiring one year in business.

Application process has problems

Applying is supposed to be simple according to the website's promotional copy. It says that you can apply online or over the phone by providing the amount you need, your monthly revenue, and contact information. However, the website's application form did not recognize as valid a perfectly valid U.S. phone number we entered, so we were unable to go through all the steps. An alternative path led us to a Dropbox Sign page where they wanted us to give up our email address and then review and sign an intimidatingly long legal document.

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Be aware of the eligibility requirements

From what we could gather from the rest of the website, the system evaluates the business and typically provides a decision within 24-48 hours. To be approved, businesses must have been in operation for at least 1 year, have a FICO score of 600+, and average monthly revenue of $10,000+. If approved, closing documents are signed and funds are deposited via wire transfer or ACH, sometimes on the same day. No collateral is required for most products.

Some advantages (maybe)

There are several potential benefits to obtaining financing from Atlas One Fund. The application process is (allegedly) fast, with most loans being deposited within 24 hours of approval. This allows you to access capital quickly when you need it. Additionally, no collateral is typically required for their financing products. Not having to pledge an asset can make obtaining funds more feasible for some. Atlas One Fund also offers flexible repayment terms that work with various business cash flows. And, they provide different financing options so you can choose the one best suited to your particular needs.

  • The application process is fairly quick, with most loans being deposited within 24 hours of approval. This allows you to access capital quickly when you need it.
  • Additionally, no collateral is typically required for their financing products. Not having to pledge an asset can make obtaining funds more feasible for some.
  • Atlas One Fund also offers flexible repayment terms that work with various business cash flows. And, they provide different financing options so you can choose the one best suited to your particular needs.

Too many downsides

However, there are also some drawbacks to consider.

  • Interest rates and fees tend to be higher compared to traditional bank loans. This means financing from Atlas One Fund is likely to cost more in the long run.
  • Eligibility criteria for approval are also strict. Applicants must meet minimum requirements around credit scores, time in business, and revenue levels. This can exclude some businesses that need help. Products like merchant cash advances also involve daily or weekly repayment of future credit card or debit card sales.
  • Repaying a portion of revenue streams over time adds complexity versus a regular loan payment. You must also carefully consider the overall application of funds due to the higher costs of financing.

In weighing the pros and cons, you'll need to assess whether the faster funding and flexible terms from Atlas One Fund outweigh the increased interest and fees. The financing may make sense for some, but others may be better suited to alternatives depending on their specific situation and ability to qualify. A thorough review of all options is advised before applying.

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No customer reviews

Unfortunately, there were no customer reviews available when we evaluated Atlas One Fund. Neither Trustpilot nor the Better Business Bureau had listings and reviews. That's a huge problem when a small business owner like you is trying to determine if a lender has the reputability and the track record of customer service to help guide them through something as impactful as a business loan.

It's a no from us

Atlas One Fund's streamlined application and fast funding process allow most businesses to receive funds within 24 hours if approved. However, eligibility requirements are strict and financing comes at higher costs than traditional bank loans. The fact is that in order to get a loan, borrowers must demonstrate a certain trustworthiness via their credit scores. It's only fair that lenders be treated the same from the borrower's perspective through trusted review sites. Atlas One Fund is the only company to have no reputational measurement through trusted outlets like Trustpilot and the Better Business Bureau. That puts them at the bottom of our recommendation list.

Where Can You Get the Best Business Loans?

Whether you're kicking off a new enterprise, scaling up your current operation, or launching a digital storefront, there's a good chance you'll find yourself in need of a business loan. Traditionally, small business owners would turn to their local banks for financing, where personal relationships and reputations were significant factors in securing a loan. Back then, options were limited, making the hunt for low-interest rates a real challenge.

Today, the landscape has shifted favorably for business owners. A wealth of online lenders are available, offering competitive terms and rates, all vying for your business. The trick is to find a reputable business lender that meets your particular needs and objectives.

The Best Business Loan Providers Compare Business Loan Providers Compare Business Loan Provider Reviews What are the best Business Loan Providers Best Business Loan Provider Reviews

Business Loan Provider FAQ

Business loans are available for just about any need: equipment financing, merchant cash advances, working capital, and much more. While you'll have to provide details about your business to apply and qualify for a business loan, once you've received the funds you can usually use them for whatever your company needs.
There are several types of lenders when it comes to business loans. You could get funding through a traditional bank or credit union, either locally or online. There are also peer-to-peer lending platforms that allow smaller financial institutions and even private investors to fund business loans.
You'll definitely pay interest on your business loan. Rates typically range from 1.5% to as high as 36% APR. You may also have origination fees of up to 6% of the loan amount, depending on the lending partner you select.
That always depends on the lender. Some providers of business loans require you to have a certain length of time in business or a minimum amount of gross annual sales to even apply. It's a good idea to determine those requirements before you begin the application, to save yourself some time and hassle.
Most of the time, you can complete the entire business loan process, from application to funds transfer, 100% online. That's a huge convenience for busy business owners like you, who might be applying outside of traditional bank hours.
Most lenders offer business loans ranging from $2,000 to $500,000. The amount you're approved for will depend on the lender you select and your business situation: naturally, the longer you've been in business and the more profitable you've been, the more likely it is that you'll be approved for a large loan.
You should have the proceeds of your business loan in your account within a week. However, if you need the money sooner, look for a lender that offers next-business-day funding. And, keep in mind that those timeframes are based on when you accept the loan offer you get, not just when you finish the application. Your business loan may require extra verification steps, like documentation of income and expenses, before you receive a funding offer.
Any time you take out a loan, you run the risk of defaulting. Be sure to only borrow what you need and maybe a little extra, and have a clear plan for making on-time loan payments. Many providers of business loans offer education and counseling at no extra charge, if you could use help in determining how much to borrow and how to use the loan wisely to maintain and grow your company.
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Continued from above...

Online business loans have gained immense popularity in recent years, transforming the landscape of financial transactions for entrepreneurs and small business owners alike. The appeal of these loans extends beyond mere convenience; it encompasses a variety of factors that business owners are increasingly taking advantage of.

One important aspect that contributes to the popularity of online business loans is the accessibility they provide. Unlike traditional lending institutions, online lenders offer a streamlined application process that can be completed from the comfort of your home or office.. This accessibility is a game-changer for busy entrepreneurs who may find it challenging to carve out time for lengthy in-person meetings with traditional lenders. The online platform enables borrowers to initiate the loan application at their convenience, eliminating the need for physical presence and extensive paperwork.

The speed at which online business loans are processed is also a significant driving force behind their increased popularity. Traditional banks often involve prolonged approval procedures, requiring extensive documentation and meticulous scrutiny. In contrast, online lenders leverage technology to expedite the approval process. With algorithms and automated systems, these lenders can often assess applications quickly, providing borrowers with prompt decisions. This quick turnaround is particularly crucial for businesses facing urgent financial needs or time-sensitive opportunities.

Another often overlooked reason why online business loans have become so popular is the flexibility the offer. Traditional lenders often adhere to rigid criteria, which makes challenging for businesses with less-than-perfect credit histories to secure funding. Online lenders, on the other hand, often consider a broader range of factors in their assessment, including the business's online presence, cash flow, and overall financial health. This flexibility opens up opportunities for a more diverse array of businesses and financial conditions.

So how do you determine which business lender is right for you? There are several key considerations you should weigh in your evaluation:

  • Loan amount and interest rate: What's the maximum amount you can borrow, and what are the interest rates like for loans of that size?
  • Application process: Is it possible to tackle the loan application online? How streamlined and user-friendly is the application process?
  • Business history requirements: Is there room for a brand-new business to secure a loan, or do you need a certain amount of operating history? What other requirements or collateral might be necessary?
  • Lender reputation: Does the lender have a solid track record of ethical business practices, as evidenced by their BBB rating or other industry standards?

These factors are especially important as lenders adapt and evolve their services. For a rundown of the top business loan providers, Top Consumer Reviews has curated a list of the best options out there. This resource will help you secure the most suitable loan for your business at a manageable rate.

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National Funding vs National Business Capital National Funding vs CAN Capital National Funding vs Balboa Capital National Funding vs Funding Circle National Funding vs LendingTree National Funding vs LendingClub National Funding vs Fundera National Funding vs Upstart National Funding vs Atlas One Fund National Business Capital vs CAN Capital National Business Capital vs Balboa Capital National Business Capital vs Funding Circle National Business Capital vs LendingTree National Business Capital vs LendingClub National Business Capital vs Fundera National Business Capital vs Upstart National Business Capital vs Atlas One Fund CAN Capital vs Balboa Capital CAN Capital vs Funding Circle CAN Capital vs LendingTree CAN Capital vs LendingClub CAN Capital vs Fundera CAN Capital vs Upstart CAN Capital vs Atlas One Fund Balboa Capital vs Funding Circle Balboa Capital vs LendingTree Balboa Capital vs LendingClub Balboa Capital vs Fundera Balboa Capital vs Upstart Balboa Capital vs Atlas One Fund Funding Circle vs LendingTree Funding Circle vs LendingClub Funding Circle vs Fundera Funding Circle vs Upstart Funding Circle vs Atlas One Fund LendingTree vs LendingClub LendingTree vs Fundera LendingTree vs Upstart LendingTree vs Atlas One Fund LendingClub vs Fundera LendingClub vs Upstart LendingClub vs Atlas One Fund Fundera vs Upstart Fundera vs Atlas One Fund Upstart vs Atlas One Fund
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