COMPARISON
Banked.fyi vs IOU Financial
An honest comparison to help you choose the right business funding partner for your needs.
✓ Unbiased Analysis✓ Real User Feedback✓ Updated December 2025
OVERVIEW
At a glance
B
Banked.fyi
RECOMMENDEDA modern business funding marketplace that connects you with 75+ lenders for the best rates and terms. Transparent pricing, fast approvals, and dedicated support.
Highlights
- No hard credit pull to check rates
- Access to 75+ lenders in one application
- Same-day funding available
- Transparent fee structure
- US-based support team
I
IOU Financial
Est. 2009IOU Financial provides working capital loans and merchant cash advances to small businesses in the US and Canada.
Pros
- Reasonable rates
- Fast funding
- Multiple products
- Good service
Cons
- Higher rates than banks
- Daily payments option
- May require collateral
FEATURES
Feature comparison
| Feature | Banked.fyi | IOU Financial |
|---|---|---|
Soft Credit Pull to Check Rates See rates without impacting your credit score | ||
Same-Day Funding Get funds deposited the same day you apply | ||
Multiple Lender Options Compare offers from multiple lenders | ||
Bad Credit Accepted Options for credit scores below 600 | ||
No Collateral Required Unsecured funding options available | ||
Transparent Pricing Clear fee structure with no hidden costs | ||
Dedicated Advisor Personal support throughout the process | ||
Maximum Loan Amount Highest available funding | $5,000,000 | $500,000 |
Minimum Credit Score Credit requirements | All credit types | 550+ |
Time in Business Required Minimum operating history | 3 months | 6 months |
APR Range Interest rate range | 7.5% - 45% | 15% - 45% |
Funding Speed How quickly you can get funded | Same day - 7 days | 24-48 hours |
Rate Competitiveness How competitive are the offered rates | 4.5 | 4.0 |
Application Experience Ease and speed of the application process | 4.5 | 4.0 |
Customer Support Quality Responsiveness and helpfulness of support | 5.0 | 4.0 |
RATINGS
How they compare
Interest Rates
Banked.fyi
4.5
IOU Financial
4.0
Funding Speed
Banked.fyi
4.5
IOU Financial
4.0
Customer Service
Banked.fyi
5.0
IOU Financial
4.0
Flexibility
Banked.fyi
5.0
IOU Financial
4.0
Overall Experience
Banked.fyi
4.5
IOU Financial
4.0
FAQs
Common questions
Is Banked.fyi better than IOU Financial?+
Both options have their strengths. Banked.fyi is a lending marketplace that connects you with 75+ lenders, giving you more options to compare. IOU Financial is a direct lender with reasonable rates. The best choice depends on your specific needs, credit profile, and funding timeline.
What are the main differences between Banked.fyi and IOU Financial?+
The key difference is that Banked.fyi provides access to 75+ lenders through one application, while IOU Financial offers funding directly. Banked.fyi offers loan amounts up to $5M with funding as fast as 4 hours, while IOU Financial offers up to $500,000 with funding in 24-48 hours.
Which has better rates: Banked.fyi or IOU Financial?+
Rates vary based on your business profile, credit score, and loan type. Banked.fyi's marketplace model often helps businesses find more competitive rates by comparing multiple lenders. IOU Financial's rates range from 15% to 45%. We recommend checking both to see which offers better terms for your situation.
What credit score do I need for IOU Financial?+
IOU Financial typically requires a minimum credit score of 550+. Banked.fyi works with all credit types and can connect you with lenders even if you have bad credit, giving you more options to explore.
How fast can I get funded with IOU Financial vs Banked.fyi?+
IOU Financial typically funds in 24-48 hours. With Banked.fyi, depending on the lender match, you can receive funding as fast as 4 hours for certain products, though most loans fund within 1-7 days.
Does IOU Financial do a hard credit pull?+
IOU Financial may perform a hard credit pull as part of the application process. Banked.fyi never performs a hard credit pull when checking your rates—only when you choose to proceed with a specific lender.