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

Women who own businesses find bank loans harder to get

Under federal anti-discrimination laws, banks cannot ask loan applicants about their gender, race or ethnic background. Agencies including the Federal Deposit Insurance Corp. compile statistics on small business lending but those don't reflect gender or ...

Published:  Wed, 18 Oct 2017 08:07:00 GMT



3 Must Know Facts before Applying for a Small Business Loan

Obtaining small business loans is not always an easy task because there are multiple factors at work here which the lending party considers before granting or denying a loan request. The most important of which is, of course, whether or not you will be ...

Published:  Thu, 19 Oct 2017 06:01:00 GMT



Business Loans For Women - Is It a Level Playing Field

It's October - and the National Women's Business Council points out that it is National Women's Small Business Month. "National Women's Small Business Month is a time to recognize and applaud the talented, dedicated and driven women whose ...

Published:  Wed, 18 Oct 2017 11:13:00 GMT



Got a student loan Don't be an easy target for scammers.

In one case, a Florida-based business, which falsely claimed it was affiliated with the Department of Education (DOE), allegedly bilked borrowers out of at least $11 million by promising to forgive their loans, lower payments and reduce interest rates.

Published:  Thu, 19 Oct 2017 11:37:00 GMT



House hunters, here are 5 secrets to getting the best home loan

Getting a home mortgage loan is one of the most important financial commitments most people will ever make, since the terms of your loan can affect your finances in a big way for years to come. Start shopping for a loan before you actually begin looking at ...

Published:  Thu, 19 Oct 2017 14:44:00 GMT



Exclusive-Greek Banks Plan Record Sale of Bad Loans as Pressure Mounts

Piraeus Bank plans to sell 3.0 billion euros in bad debt, half in the form of unsecured consumer loans, a senior banker involved in the process said. The rest would include 1.5 billion euros of business loans with collateral. "We are looking at our options ...

Published:  Thu, 19 Oct 2017 10:12:00 GMT



Why banks ask for a personal guarantee before a loan

So, when your bank requests a personal guarantee to borrow money for your business, it can be upsetting. Why do they need a personal guarantee on this loan Is it a reflection of the bank's assessment of my business or my plans Does it mean the bank ...

Published:  Wed, 18 Oct 2017 22:09:00 GMT




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