Grasshopper Bank review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Grasshopper Bank suits established US businesses that already bank with it and want a predictable fixed-rate loan without collateral. Its APR of 6.99% sits below the business loan median of 11.7%, and a personal guarantee carries the risk instead of pledging assets.

Key facts

Best for
Established US businesses with an existing Grasshopper Bank deposit account
APR
6.99% (Source, checked September 26, 2026)
Loan amount
$10,000 to $200,000 (Source, checked September 26, 2026)
Term
36 months (Source, checked September 26, 2026)
Arrangement fee
1% of the loan, deducted from disbursed proceeds (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Funding time
Within 1 business day of approval (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
Active Grasshopper Bank deposit account held 6 months or longer and business operating at least 1 year; personal guarantee required, no collateral (Source, checked September 26, 2026)
Origination fee (%)
1% (Source, checked September 26, 2026)
Loan types
Business, Guarantor (Source, checked September 26, 2026)
Legal entity
Grasshopper Bank, N.A. (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Founded
2019 (Source, checked September 26, 2026)
Support channels
Phone, Chat, Email, Help-centre (Source, checked September 26, 2026)
Pricing model
Fixed rate
Features
Same-day funding
Official website
grasshopper.bank

Apps and profiles

Elsewhere
TrustpilotLinkedInXbbb.org

Pros and cons

Pros

  • APR of 6.99%, below the business loan median of 11.7%
  • Fixed rate on 36, so repayments do not shift
  • Loans of $10,000 to $200,000 funded Within 1 business day of approval
  • Free early repayment, with a personal guarantee standing in for collateral

Cons

  • Arrangement costs of 1% of the loan, deducted from disbursed proceeds come out of the amount disbursed
  • Eligibility needs an existing Grasshopper Bank account, so borrowers elsewhere cannot apply
  • A personal guarantee is required, leaving the owner responsible for the debt
Grasshopper Bank

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Scored 9.1 / 10 by BorrowCue.

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Who it suits

  • Businesses already holding a Grasshopper Bank account
  • Owners comfortable with a personal guarantee rather than collateral
  • Firms planning ahead and able to clear a soft prequal check

Who should look elsewhere

  • Businesses wanting a longer repayment period than 36, who should weigh Sofkredit at 10.74% to 18.06% first
  • Borrowers outside the US, better served by Andacredito at 0% to 36%
  • New businesses with no banking history, who may find more open doors at Montonio at 0%

Safety and regulation

Grasshopper Bank is a direct lender operating as Grasshopper Bank, N.A. in the US, so you deal with the bank itself rather than a broker or marketplace. It holds FDIC cert 59113 and also lends as a delegated US Small Business Administration lender. A personal guarantee stands behind the borrowing, meaning the owner shares the repayment risk with the business.

How Grasshopper Bank compares

Where Grasshopper Bank is available

Available
United States
Licence in United States
Federal Deposit Insurance Corporation (FDIC), checked September 26, 2026
Licence in United States
U.S. Small Business Administration (delegated SBA lender), checked September 26, 2026
Licence in United States
FDIC (FDIC cert 59113), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate do I pay on a Grasshopper Bank business loan?+

The quoted rate is an APR of 6.99% on a fixed-rate loan of 36. That sits below the business loan median of 11.7%. Because the rate is fixed, monthly repayments do not move as market rates shift.

What fees does Grasshopper Bank charge?+

There is an origination fee of 1% of the loan, deducted from disbursed proceeds, taken from the amount disbursed rather than billed afterwards. Early repayment is free, so clearing the loan ahead of schedule costs nothing extra. Repayment terms run over 36.

How much can I borrow?+

Loans run $10,000 to $200,000. That is well above the business loan median of €1,315.44, so the product suits established firms. Support runs on phone, chat and email if the figure you need sits outside that band.

How fast is the money?+

Funding is Within 1 business day of approval. A same-day funding option is also listed on same day funding, quicker than most business lenders in this comparison. That speed is useful for payroll or stock deadlines rather than planned purchases.

Does Grasshopper Bank check my credit?+

The check is a soft prequal check, so exploring terms is lighter on a credit file than a hard search. Full underwriting still applies before any offer is final, and the business is assessed alongside the owner.

What security stands behind the loan?+

The loan is backed by a personal guarantee rather than security over company assets, so the owner signs up to repay from personal assets if the business cannot. Deposits sit with the bank, Grasshopper Bank, N.A., rather than an intermediary.

Who can apply for a Grasshopper Bank business loan?+

You need a business that already banks with Grasshopper Bank and has traded for a minimum period, and the account must have been held for a minimum period too. Lenders accepting applicants with no banking relationship, such as Montonio at 0%, suit businesses starting out.

Is Grasshopper Bank regulated?+

It is a direct lender holding FDIC cert 59113, and it also lends as a delegated US Small Business Administration lender. The bank has been trading since 2019 and takes deposits directly, so the money sits with the bank itself.

Sources

  • banks.data.fdic.gov/bankfind-suite/bankfind/details/59113 checked September 26, 2026

    Backs: Headquarters, Legal entity, Licences

    “CERT=59113; NAME=Grasshopper Bank, N.A.; WEBADDR=www.grasshopper.bank; ACTIVE=1”

  • grasshopper.bank checked September 26, 2026

    Backs: Features, Support channels

    “Get up to $200,000 within one business day, exclusively for Grasshopper business banking clients”

  • grasshopper.bank/lending-solutions/sba-lending checked September 26, 2026

    Backs: Lender type, APR

    “Grasshopper Bank is a delegated SBA Lender”

  • grasshopper.bank/lending-solutions/smallbusinessloan checked September 26, 2026

    Backs: Eligibility, Free early repayment, Funding time, Loan amount, Loan types, Pricing model, Arrangement fee, Origination fee (%), Rate type, Term, Credit check

    “Have an active Grasshopper Bank account for 6 months or longer. Be in business for at least 1 year or longer”

  • grasshopper.bank/who-we-are checked September 26, 2026

    Backs: Founded

    “Grasshopper began operations in 2019 and is a client-first digital bank serving small businesses”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Representative example.

Grasshopper Bank

Grasshopper Bank

Established US businesses with an existing Grasshopper Bank deposit account

9.1/10See alternatives

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