Wells Fargo vs Swish Funding

Business funding is offered by Wells Fargo and Swish Funding. Finding the right business loan is always crucial for your company’s growth and success, and it offers a business opportunity differently. Here is the clear comparison to help make an informed decision.

Who Are These Lenders?

Wells Fargo offers financial services in a comprehensive way that includes business checking accounts, savings, credit cards, and various business loan products, and it is one of the largest banks in the United States.

They are known for:

• They have banking experience of over 150 years
• Across the US, the branch network is extensive
• The range of business financial records is wide
• Banking approach is relationship-based

For small and medium-sized businesses, Swish Funding offers various loan products, and it is a UK-based business.

They focus on:

• The access to capital will be so quick
• The application process is so simple
• Business loans, merchant cash advances, and asset finance

What Can You Borrow?

Wells Fargo offers business loans starting from $10,000 up to $500,000 or more for qualified businesses. They provide term loans with fixed monthly payments, business lines of credit for flexible access to funds, equipment financing, and commercial real estate loans. Their loan terms typically range from 1 to 10 years depending on the purpose and amount. Existing Wells Fargo customers often receive preferential rates and faster processing.

Swish Funding provides term loans starting from £10,000 with flexible maximum amounts based on business qualifications. They offer merchant cash advances that work well for businesses with consistent card sales, equipment financing for purchasing machinery or vehicles, and invoice financing to unlock cash tied up in unpaid invoices. Their product range is designed to match different business scenarios.

How Fast Can You Get Money?

With applications available online, Wells Fargo follows a traditional banking approach by phone or in-branch, and within 20–30 minutes, the application process can be completed with all the necessary documentation. Thoroughly review your application with their underwriting team, which typically takes 7–14 business days for a decision. Once approved, the funds will be deposited into your account within a week of business days. Once approved, funds are usually. Timeline can be sped up with Wells Fargo, and they have an existing relationship.

The application process will be faster in Swish Funding, and the decision will be made within 24–49 hours after receiving your application. Each application will receive personal attention with their team, who take time to understand your specific business needs. And the funding will be in your account after approval within 48 hours, making them an excellent choice for urgent financial needs.

Who Qualifies for Funding?

Wells Fargo Requirements:

• In business, the requirement is a minimum of 2 years
• Annual revenue should be $100,000 or higher
• The credit score should be good to excellent (generally 680+)
• Comprehensive business and personal financial documentation required

Swish Funding Requirements:

• More flexible on business age and history
• Works with various credit profiles
• Beyond credit scores, Swish Funding evaluates the complete business
• The documentation process will be simpler

What Will It Cost You?

Depending on your credit score and business finances, Wells Fargo offers a range from approximately 6.5% to 14% APR, and there will be no prepayment penalties; all costs are disclosed.

By product and business profile, Swish Funding's rates vary, and the rates may be higher than traditional banks but reflect faster service, and the approval will be flexible.

The User Experience

Wells Fargo:

• It has access to thousands of physical branches nationwide
• There will be full-service in online and mobile banking platforms
• They support their teams and are dedicated to small business bankers a
• Wells Fargo business services have integration with other Wells Fargo businesses

Swish Funding:

• The application and management are completely online-based
• The platform is user-friendly and straightforward
• They have direct access to lending specialists
• The communication and support will be so fast

Making Your Choice

If you want complete banking services, then choose Wells Fargo with established business and strong credit; you can wait 2-3 weeks for funding.

For urgent funding within a day, then choose Swish Funding if you need urgent funding within days, have less established credit, and without extensive paperwork, the qualification becomes simpler. 

For established businesses, Wells Fargo is best for comprehensive banking, and in Swish Funding, the approval will be flexible, and the access to the capital will be fast.