Harvest Small Business Finance LLC | Reviews & Loan Guide

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Harvest Small Business Finance LLC was established in 2016 and is based in Laguna Hills, California. It is a commercial mortgage lender.  

For businesses looking to buy real estate, Harvest provides SBA 7(a) financing. The business claims that it can process loan applications for these small-enterprise loans in just a few days and close loans in only 30 days.


With Harvest Small Company Finance, small business owners have more access to cheap finance choices than they would with traditional bank loans. SBA 7(a) loans have rates and conditions that are incredibly low, making it quite feasible to buy or refinance commercial real estate.

Harvest also provides affordable interest rates, just like any other SBA lender. The maximum interest rate for SBA 7(a) real estate loans is determined by the U.S. Small Business Administration at the Prime rate of +2.75%.

This article will provide you with all you need to know about Harvest, how to apply for its loans, and an unbiased review.

Let’s dive in.

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Overview

Harvest Small Business Finance operates as a mortgage lender. It provides small businesses with SBA 7(a) loans for real estate.

The business was founded in 2016 and has its main office in Laguna Hills, California. Harvest SBF offers several benefits, such as low-interest rates and a short processing period for loans of roughly 2-4 days.

It is in the top 100 SBA-preferred lenders. From 2020 to 2021, they collaborated with the Fintech startup business Womply.

They collaborated to fund the paycheck protection program (PPP) loans. However, due to a budget shortfall, PPP money is no longer accessible.

For further information on PPP forgiveness, you can visit the website @https://www.harvestsbf.com.

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What is the Customer Service/ Contact Number of Harvest Small Business Finance LLC?

The website for Harvest Small Business Finance LLC is actually rather awful, with a shoddy user experience and sparse information on their service. This makes it hard to avoid assuming that the website harvest is a hoax.

They do, however, rank in the top 100 lending platforms, according to SBA. Harvest small business finance LLC’s contact number is so concealed that it is only displayed in one section of the website.

According to reviews, they have lousy customer service systems that may even hang up on customers. That is very impolite, for Petes’s sake! 

Nevertheless, it is advisable to visit Harvest physically at their office in Laguna Hills, California, in order to get the best services from them.

Let’s save you the hassle of searching for the phone number on their website if you still want to contact them online. Here is harvest small business finance LLC’s contact number for small business loans.

  • Harvest Small Business Finance LLC Contact Number: (949) 994-3610.
  • For customer support, send a mail to ppp@harvestcref.com

What are the Pros and Cons of Harvest Small Business Loans?

Well, everyone enjoys blowing their own trumpet. Who wouldn’t, after all? So harvest went berserk with blowing up their own horn, and I must say, they did a fantastic job.

Don’t get me wrong; I’m not criticizing them; I’m simply not gushing over their services.

They initially had a competitive advantage over other SBA lenders thanks to their PPP loans and streamlined application procedure.

But as of late, I can’t even vouch for them—all of their customer service ratings are negative. Anyway, let’s go over a list of their advantages and disadvantages.

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Pros and Cons of Harvest Small Business Lenders

PROSCONS
It is one of the top SBA-preferred lenders They have a terrible website with no tangible information
It has a relatively low SBA interest rate You’ll have to call via phone to kick-start your application process
Their application process is quite fast and can be completed in 2 -3 days. They require collateral
Registered consumers are assigned an account managerThey have limited loan option
You can repay monthlyHidden charges apply
They also offer long-term financingLoan disbursement really takes time
They give high loan amounts from $200,000 – $5 million
Pros and Cons of Harvest Small Business Lenders

What Loans are Available on Harvest Small Business Finance LLC?

Well, Harvest Small Business Finance LLC previously provided this wildly popular lending option for small enterprises. It is called the PPP loans.

However, people who applied for this loan had a lot of complaints, ranging from incomplete loan payments to incorrect documentation.

The PPP loans are no longer accessible as of right now, and Information on their website implies that this is due to a lack of financing. But in addition to the PPP loans, they also provide incredibly good SBA 7 (a) Loans for real estate.

To put it another way, SBA 7(a) mortgage lending. The mortgage loan is the sole type of loan Harvest offers at the moment. Mortgage loan amounts are quite large, and you may get a closing in 30 days.

Only the following property kinds are eligible for these loans: offices, industrial buildings, retail stores, self-storage facilities, hotels, auto service centers, car lots, childcare centers, and more.

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What are the Requirements for a Harvest SBF Loan?

Despite the fact that this information is not expressly included on the website, we went above and above to give you a list of the extra documentation required to proceed with your loan application and processing.

List of Requirements for a Harvest SBF loan

  • You’ll need to provide copies of tenant leases for the real estate you want to refinance
  • Government-issued identification, e.g., Drivers license
  • 3 years of complete personal federal tax returns for the borrower
  • 3 years of complete business federal income tax returns
  • current business financial statement to include a balance sheet and a profit and loss statement less than 60 days old
  • copies of leases for all locations occupied by the business
  • Transaction documents as available; purchase contract, escrow instructions, preliminary title report.

How to Apply for a Harvest SBF Loan

Despite being rather quick, the Harvest application procedure is quite basic for a business in this day and age.

We would definitely appreciate a flawless online application process in this era of the internet. However, you must carefully follow these steps to apply for a harvest loan.

No 1 Step: visit the website @https://www.harvestsbf.com and select the product button.

Step 2: on the “Product” button drop-down, select the SBA 7(A) loan

Step No 3: Download the Harvest loan application highlighted text and proceed to fill out the form.

You are required to call the Harvest SBF phone number after filling out your form for further instructions.

  • Harvest SBF Phone Number: (949) 994-3610
  • For more inquiries or complaints, you can email the support team at ppp@harvestcref.com

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Customer Reviews for Harvest Small Business Finance LLC

RATING: 1.3 STARS

Rating: 1.5 out of 5.

If you were to rate Harvest Small Business Finance based just on the negative feedback left by their clients, they most likely wouldn’t still be in operation.

Numerous clients have voiced complaints about their poor customer service and inadequate documentation processes. Also, there are terrible PPP forgiveness processes.

The good news is that if you truly want to try them, they always produce fantastic results.

Frequently Asked Questions on Harvest Small Business Finance LLC

Q1. What are the Processes Involved in PPP Forgiveness?

The PPP forgiveness program is now available, and the application procedure is straightforward. Only borrowers with loan amounts of $150,000 or less are eligible to apply.

After completing the application form, send an email to ppp2020forgiveness@harvestcref.com with the subject “Forgiveness Request” and the details of your SBA loan, including the SBA LOAN NAME and SBA NUMBER.

Q2. How Can I Apply for a PPP Forgiveness?

Here is a step-by-step procedure to apply for PPP Forgiveness

  1. visit https://directforgiveness.sba.gov/ ( Use MS Edge or Google Chrome)
  2. Select “Register to start your Application” Follow the listed Instructions
  3. After Registration, use your new credentials and SMS two-factor authentication to access the portal.
  4. login and then click on the “Start New Forgiveness Request ” enter the TIN( SSN or EIN) used for the application process and also your SBA loan Number
  5. Follow all the instructions to complete all the fields
  6. As soon as you finish, the system will generate a completed 35085 application via DocuSign for you to execute and submit into the lender queue
  7. Check out the PPP Forgiveness platform User Guide for a better information

Conclusion

The Harvest SBF does have advantages and disadvantages, just like any other provider of services. In-depth details on what to anticipate while doing business with Harvest Small Business Finance have been offered in this post.

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