SoFi
personal-business-loans · USSoFi (Social Finance) is a digital personal finance platform offering personal loans, business loans, student loan refinancing, and mortgage lending alongside banking and investing products. It stands out for its no-origination-fee personal loans (8.99%–29.99% APR) and its Unemployment Protection Program, which pauses payments if you lose your job. SoFi members also get access to career coaching, financial planning, and exclusive rate discounts — making it one of the most comprehensive lending platforms for entrepreneurs and individuals alike. Terms vary by applicant. SoFi is available to US residents only.
Quick Answer
SoFi is designed for smb and personal businesses. Pricing starts at $0/mo. Best suited for US-based businesses. No origination, late, or prepayment fees on personal loans
Pricing
// verify pricing before launch — prices shown may not reflect current vendor rates
Key Features
- •No origination fees on personal loans
- •Unemployment Protection Program — pauses payments if you lose your job
- •Soft credit check for pre-qualification — no impact on credit score
- •Member benefits: career coaching, financial planning, estate planning
- •Rate discounts for autopay and direct deposit
- •Full digital banking experience: lending, investing, banking in one app
Pros
- +No origination, late, or prepayment fees on personal loans
- +Unemployment Protection provides peace of mind for borrowers
- +Strong mobile app with integrated banking and investing features
- +Soft pre-qualification check protects your credit score
- +Members get complimentary financial planning and career coaching
Cons
- −Business loan terms vary and are less transparent than personal loan pricing
- −Best rates require autopay and direct deposit enrollment
- −Not available to non-US residents or businesses
- −Higher minimum credit score requirements compared to some competitors
- −No secured loan options for borrowers building credit
Available on
Integrations
Compare SoFi with other tools
See how SoFi stacks up against LendingClub and Bluevine side by side.
Reviewed by Finatune · Last updated 2026-07-12