Altbanq is a New York-based alternative finance company, formerly called SOS Capital, that offers business term loans from $100,000 to $10,000,000 with terms up to 24 months and weekly, biweekly or monthly payments. It asks for a personal credit score of 650 or higher, at least 51% ownership by the applicant, and your last 3 months of business bank statements (per its site, checked October 20, 2026). It fits established businesses that need a large amount fast. It does not fit if you need less than $100,000 or your credit is under 650.
Below we cover what Altbanq offers, what it asks for, how the process works, the trade-offs, and your alternatives. Every Altbanq fact comes from its official site; where it does not publish something, such as a minimum time in business, we say so. If Altbanq is not the right fit, our recommended alternative is Merchant Fund Express.
Key takeaways
- Altbanq (formerly SOS Capital) offers term loans of $100,000 to $10,000,000 with terms up to 24 months.
- Payments can be weekly, biweekly or monthly, per its site.
- It asks for 650+ personal credit, at least 51% ownership, and 3 months of bank statements or a Plaid connection.
- Applying is free and does not affect your credit, per its site; its lending page mentions a decision in 24 hours or less.
- It does not publish a minimum time in business, ITIN acceptance or Spanish-language support.
- If you need less than $100,000 or your credit is under 650, our recommended alternative reviews sales and deposits from a 500 FICO.
What Altbanq is
Altbanq describes itself as an alternative financing provider built to fund businesses faster than traditional sources. Its site says it used to be called SOS Capital, that it changed its name as it expanded its services, and that it has close to a decade of experience. It is headquartered in New York, and its site states that its loans are made or arranged under a California Financing Law license.
Today it runs two business lines:
- Lending (altbanq Lending): business term loans from $100,000 to $10,000,000.
- Payments (altbanq Payments): card processing in store and online. Its site advertises that if you move your processing to Altbanq, your business could qualify for an interest-free loan, subject to conditions.
This review focuses on the loans, which is what most owners are looking for. If the processing-linked offer interests you, get the loan terms and the processing fees in writing before you switch providers. A cheap loan tied to an expensive processing contract is not cheap.
Amounts, terms and payments
| Item | What Altbanq publishes |
|---|---|
| Product | Business term loan |
| Amounts | $100,000 to $10,000,000 |
| Term | Up to 24 months |
| Payment frequency | Weekly, biweekly or monthly |
| Minimum personal credit | 650 |
| Minimum ownership of the applicant | 51% of the business |
| Documents | One-page application plus 3 months of business bank statements, or a Plaid connection |
| Decision | 24 hours or less on its lending page; another part of its site mentions as fast as 6 hours |
| Funding | Same day as approval in some cases |
| Credit impact of applying | Free to apply with no impact to your score, per its site |
| Minimum time in business | Not published |
| Rates | Not published |
Two things stand out. First, the $100,000 minimum rules out most small businesses, which usually need $20,000 or $50,000. Second, 24 months is a short term for amounts this large: a loan of several hundred thousand dollars repaid in two years comes with big installments. Before you accept, check that the payment fits your worst month, not your average one.
Requirements and how Altbanq decides
Per its site, Altbanq decides with its own model that weighs several factors:
- Business cash flow, which it reads from your bank statements.
- Time in business (no published minimum).
- Industry.
- Business and personal credit, with a 650 personal minimum.
The applicant must own at least 51% of the company. If you split ownership 50/50 with a partner, or you own less than half, ask how they handle it before you apply. For paperwork it offers two routes: upload your last 3 months of business bank statements, or connect your bank through Plaid, a read-only tool. It may request more documents if it cannot determine whether you qualify.
What we did not find on its site: ITIN acceptance, Spanish-language support or a minimum time in business. If any of those matter to you, confirm them directly before you apply.
The process, per its site
- You fill out a one-page application with business and owner details; it says this takes under 5 minutes.
- You connect your bank through Plaid or upload your last 3 statements.
- Its system approves a maximum amount and presents the offer.
- If you accept, you sign the contracts electronically and can track progress online.
- It confirms your wire details and sends the funds, which can arrive the same day as approval in some cases.
Altbanq pros and cons
We do not publish scores or testimonials. This is our read of what Altbanq publishes:
| Pros | Cons |
|---|---|
| Large amounts, up to $10,000,000 | $100,000 minimum; not built for small amounts |
| Fast decisions and possible same-day funding | 24-month maximum term, short for large amounts |
| Weekly, biweekly or monthly payments | Requires 650+ personal credit |
| Short application and only 3 months of statements | Does not publish rates or a minimum time in business |
| No credit impact to apply, per its site | No Spanish-language site or ITIN mention found |
Good fit for: established businesses with strong cash flow, 650+ credit and a large, specific need, such as a seasonal inventory buy, a contract that needs capital up front, or an expansion that pays for itself in under two years.
Think twice if: you need less than $100,000, your credit is under 650, your investment takes longer than two years to pay back, or you would rather handle the whole process in Spanish.
Alternatives to Altbanq
If Altbanq does not fit your situation, these are options with facts published on their official sites:
Merchant Fund Express (recommended alternative). Amounts from $5,000 to $5,000,000, credit from a 500 FICO, approval based on sales and deposits, not just credit, decisions often in 2–4 hours, and collateral not required in most cases. It offers Spanish-speaking support and accepts applicants with an ITIN (no SSN needed). Applying is free and does not impact your credit.
OnDeck (term loan). $5,000 to $400,000 for up to 24 months, with 1 year in business, $100,000 in annual revenue and a 625 FICO.
National Funding. Working capital from $6,000 to $500,000 over 4–24 months, and equipment financing up to $150,000 over 2–5 years.
SBA 7(a) loan. Up to $5 million with terms up to 10 years for working capital and equipment. If you qualify, it usually costs less. Since March 1, 2026, every owner must be a U.S. citizen or U.S. national.
| Option | Amounts | Term | Credit | ITIN | Spanish support |
|---|---|---|---|---|---|
| Altbanq | $100,000 to $10,000,000 | Up to 24 months | 650+ | Not published | Not found |
| Merchant Fund Express | $5,000 to $5,000,000 | Based on your profile | FICO 500+ | Yes | Yes |
| OnDeck term loan | $5,000 to $400,000 | Up to 24 months | 625 | Not published | Not found |
| National Funding (working capital) | $6,000 to $500,000 | 4 to 24 months | Reviewed | Not published | Not found |
| SBA 7(a) | Up to $5 million | Up to 10 years (longer with real estate) | Set by the bank | No | Depends on the bank |
To compare more products, read our complete guide to business term loans and, if you need a six- or seven-figure amount, how to get a $500K business loan.
Before you sign with Altbanq or any funder
- Get the full offer in writing: amount, term, payment frequency, installment, rate or total cost, and every fee.
- Ask about early repayment. Its site mentions early-payment discounts in its section for business partners; ask whether your offer includes them and how they work.
- Test the installment against your worst month, not your best one.
- Check for a personal guarantee and what happens if the business falls behind.
- Go to the official site yourself by typing the address into your browser. Do not follow links in texts or emails you did not ask for; scammers pose as well-known funders. Our guide on how to spot a business funding scam lists the red flags.
- Compare at least two offers. The same file can get very different terms from different funders.
One more planning tip for large term loans: map the money to a return. If you borrow $250,000 to fill a contract, write down when that contract pays and confirm the installments start after cash comes in, or that your existing deposits can carry them until it does. Leer en español
Frequently asked questions
Is Altbanq legit?
Altbanq is a real company headquartered in New York, formerly called SOS Capital, and its site says it operates under a California Financing Law license. As with any funder, read the full contract, get the offer in writing and compare it with other options before you sign. We do not give ratings; we give you the facts to decide.
How much does Altbanq lend?
Per its site, its business term loans run from $100,000 to $10,000,000, with terms up to 24 months and weekly, biweekly or monthly payments. If you need less than $100,000, Altbanq is not built for you; look for funders whose amounts start around $5,000.
What credit score do I need for Altbanq?
Its site says it works with clients who have a personal credit score of 650 or higher. It also weighs business cash flow, time in business, industry and business credit. If your score is lower, consider funders that review sales and deposits and work with scores from 500.
Does Altbanq accept ITIN applicants?
We found no mention of ITIN or applicants without a Social Security number on its site, so ask directly before you apply. Merchant Fund Express, our recommended alternative, accepts applicants with an ITIN, no SSN needed, and offers Spanish-speaking support.
Does applying with Altbanq affect my credit?
Per its site, applying is free and does not affect your credit score, and its homepage says it does not run hard pulls. As with any funder, accepting an offer and signing can involve further checks, so ask what happens at each step before you sign.
What documents does Altbanq ask for?
A one-page application with business and owner details, plus your 3 most recent business bank statements or a Plaid connection to your bank. The applicant must own at least 51% of the business. If that is not enough for a decision, it may ask for more documents.