Business Loan Reviews

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ON DECK

In business since 2007, OnDeck specializes in providing short- and long-term business loans and lines of credit, and has helped more than 50,000 small businesses access the funds they need to grow. For businesses looking to borrow funds with extremely competitive rates, OnDeck is an excellent choice. They earn our highest rating.

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FUNDING CIRCLE

Started by small business owners in response to their own frustrations with securing business loans to grow their company, Funding Circle uses peer-to-peer lending to fund small business loans. With no hidden fees, clear interest rates, and an A+ rating as an accredited business with the Better Business Bureau, Funding Circle is a great choice for people seeking business loans.

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LENDING CLUB

Lending Club is a trusted lender for those seeking business loans from $5,000 to $300,000. With very competitive interest rates and an uncomplicated application process, Lending Club is an excellent choice for business owners who need a loan to grow their company.

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LENDING TREE

For business owners who want to see a number of possible loan sources in one place, LendingTree is a good site to use. They also offer helpful information about different types of loans: what purpose they serve, the positives and negatives of each loan type, and so on. Lending Tree is not a lender but provides business owners a list of legitimate companies willing to lend money - saving people significant time and effort in the process of borrowing money.

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KABBAGE

Kabbage uses a unique verification system for businesses looking to qualify for a business loan, making the application process incredibly quick and access to funds almost immediate. While their requirements make them unsuitable for startups, and their total loan amount is smaller than some other lenders, their low fees of 12% or less make them an attractive option for established businesses that need a business loan.

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FUNDIA

Fundia is an accredited business with the Better Business Bureau since 2015 and has an A rating. As one of the few companies in our review who provide funding for startups, and with 12 months of free consulting to help their customers effectively manage their credit lines, we think Fundia is a great option among companies offering business loans.

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BALBOA CAPITAL

Serving customers since 1998, California-based Balboa Capital has funded nearly $5 billion in financing solutions since its inception. Though some borrowers have expressed frustration with fees and other fine-print items, Balboa's A+ rating with the Better Business Bureau and established history make them a company to consider when looking for a business loan.

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NATIONAL BUSINESS CAPITAL

National Business Capital provides financing to businesses in a variety of industries and credit histories, specializing in helping those who have previously been turned down by banks and other lenders. They maintain an A+ rating with the Better Business Bureau and have a number of convincing testimonials on their website. Information on their loan terms is hard to come by, and we'd like to see more details with respect to loan amounts, eligibility requirements, and interest rates.

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CAN CAPITAL

Georgia-based CAN Capital has been providing business loans for nearly 20 years and maintains a perfect A+ rating with the Better Business Bureau. However, interest rates aren't readily available, and our research indicates that they may be as high as 85%. We recommend that prospective borrowers make sure to calculate their APR before making a commitment to borrow from CAN Capital.

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ADVANCED COMMERCIAL CAPITAL

Advanced Commercial Capital is based in St. George, Utah and specializes in a particular type of business loan commonly known as factoring, in which a business sells its outstanding accounts receivable to a financial institution (a "factor") in order to get cash immediately. While this type of business loan may work for some established businesses, especially those with a physical inventory, Advanced Commercial Capital may not meet the needs of other types of businesses, including startups.

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CAPITAL LOAN HUB

Most US-based businesses are likely to feel uncomfortable attempting to secure a loan through Capital Loan Hub. Based in the Caribbean and with no contact information other than an email address and online contact form, Capital Loan Hub serves merely as a referral service to other lenders and doesn't provide direct funding to businesses. We recommend that you consider one of the proven, trustworthy lenders that rank higher in our reviews.

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Business Loans

With all the difficulties in today's economy, many people are choosing to open their own business instead of working for a traditional employer. Whether you're just starting your business, expanding your already-established business, or even hanging out a shingle as an online company, it's likely that at some point you'll need a business loan to successfully meet your customer's needs and your business goals.

In the past, small business owners relied heavily on traditional brick-and-mortar banks in order to finance their business loans. Often that meant that borrowers had to rely on their own reputation and relationship with their local bank. Getting the lowest possible interest rate was also more challenging, since there were few lending options from which to choose.

Fortunately, business owners today can choose among many lenders to find the best terms and interest rates available. In addition to the old local options, small business borrowers now have much more and better choices through various lenders on the Internet that specialize in small business loans.

There are many factors that you should consider before selecting a lender for your business loan. Some of these include:

  • Loan size and rate. How much will you be allowed to borrow What interest rates do they typically offer on loans of that size
  • Loan application process. When applying for your business loan, can it be completed online Is the lending process easy and straightforward
  • Requirements for business history. Can a brand-new business take out a loan, or is there a minimum time that the business must have been in operation in order to qualify What other verification and/or collateral is required to secure the loan
  • BBB rating. Does the lender have an established history of good business practices

TopConsumerReviews.com has reviewed and ranked the best Business Loan programs available today. We hope this information helps you find the best loan for your small business at an affordable rate!



Business Loans In The News

6 Mistakes That Can Sabotage A Small Business Loan Request

Entrepreneurs often start with an idea and then, in order to get the business off the ground, need an infusion of capital. With traditional banks and, increasingly, online lenders willing to supply funding, in many ways the process of applying for small ...

Published:  Sun, 17 Dec 2017 05:53:00 GMT



The Perfect Storm For Small Business Loan Approvals In 2018

Small business lending has been strong in 2017 and recent figures indicate that the trend will continue in the coming year. A strong economy during President Trump's first year in the Oval Office, combined with less restrictive regulation of the banking ...

Published:  Thu, 14 Dec 2017 16:49:00 GMT



Tompor: Expect higher rates on credit cards, loans due to Fed

home equity loans and lines of credit and personal loans. Many small business loans are indexed to the prime rate, too. A record high stock market - and an ultra-low U.S. jobless rate - gave the Fed more room to raise short-term interest rates by a ...

Published:  Fri, 15 Dec 2017 06:52:00 GMT



5 questions every business owner should answer before applying for an SBA loan

SBA loans are one of many loan products available to small business owners -- and it's the only loan backed by the federal government specifically designed to help small business owners. SBA loans are offered by banks, just like any other loan, but the ...

Published:  Mon, 11 Dec 2017 13:20:00 GMT



More people than ever are defaulting on student loans - and it could put the US economy at risk

Millions of Americans can not pay off student loans. Julio Cortez/AP Almost 5 million student loans have gone unpaid for a significant amount of time. Federal and private loans are going into default, making it harder for loan holders to establish credit ...

Published:  Thu, 14 Dec 2017 20:32:00 GMT



What's the Difference Between a Term Loan and a Merchant Cash Advance

Other terms have very precise meanings that will be crucial for you to grasp as you explore your business's funding options. Two of these very important terms are "term loan" and "merchant cash advance," options that every small business owner should be ...

Published:  Mon, 11 Dec 2017 13:29:00 GMT



Fueled by Surging Economy, US Small Business Lending Again Reaches Post-Recession Highs

Biz2Credit's Small Business Lending Index survey, released Tuesday, showed that bank and Institutional lender loan approval rates again rose in November, emboldened by the prospects of pro-growth U.S. legislation. The survey, which analyzes more than ...

Published:  Tue, 12 Dec 2017 07:31:00 GMT



Payday loans lenders have odds in their favor

If there are any blank forms or they tell you that you cannot have copies of the documents you signed, then avoid doing business with them. If you need a loan, consider using a local financial institution, an advance on payroll from your employer or turn ...

Published:  Wed, 13 Dec 2017 08:53:00 GMT



Whether through entrepreneurial networking or getting a loan, it pays to contact this nonprofit

While networking is a big part of what the organization does, it also offers matching loans to qualified applicants. To be eligible, a business must be in the startup phase or have plans for expansion. It also needs to have an existing loan agreement with ...

Published:  Wed, 13 Dec 2017 09:47:00 GMT




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