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SoFi Technologies began offering small-business loans Tuesday amid an industrywide growth spurt for the vertical.

“For many of our members, their financial lives do not stop at personal goals, they also include the businesses they are building,” SoFi CEO Anthony Noto said in a prepared statement on the launch.

Fixed business loans between $2,500 and $250,000 are available to SoFi customers, requiring no application or origination fees, and ultimately no prepayment penalties.

The loans are funded as soon as 24 hours after approval.

Small-business lending increased by 13.4% year-over-year from Q3 2024 to Q3 2025, the Kansas City Fed said in December. Loan demand and application approval rates decreased for big banks. Both metrics, however, increased for small banks, Fed data showed.

A Goldman Sachs poll in October found that 73% of small-business owners are concerned about access to capital, and 75% of small-business owners who sought a business loan or line within the past year found affordable capital challenging to access.

“With SoFi Small Business Loans, we are expanding our ability to serve members in more of the moments that matter, giving them access to business financing through the same digital-first platform they already use to manage their personal finances,” Noto said in a prepared statement.

SoFi said it has seen strong demand for small-business financing across several sectors, including construction, healthcare and professional services.

The new offerings follow the launches of other business lines, crypto trading and stablecoin infrastructure, in late 2025.

The bank saw substantial growth in its loan originations in the first quarter, increasing $1.7 billion from Q4 2025 to $12.2 billion. Personal loan originations reached $8.3 billion, student loan originations were up 2.2-times year-over-year to $2.6 billion, and home origination loans grew 2.4 times in the same period to $1.2 billion.

A SoFi spokesperson did not immediately respond to a request for comment.