TopConsumerReviews.com is a world-leading consumer product review site. We provide detailed reviews and ratings for thousands of products and services.

 

Lending Tree vs Balboa Capital

We recommend

 

Disclosure: We are not compensated by companies for their reviews, but we may be compensated for links and advertisements on our website. Click here for details.

 

LENDINGTREE

If you'd like to get a feel for the different types of business loans available and some possible partners that would fund the loan you choose, LendingTree can help. Unlike most of the other business loan sources in our review, LendingTree does not fund loans directly but instead serves as a connection between borrowers and lending partners.

LendingTree is very helpful when it comes to understanding different types of business loans. Do you know the difference between a Small Business Loan and an SBA Loan? How about between a Working Capital Loan and a Business Line of Credit? If not, don't worry - you'll find a wealth of information on the main business loan page. Just click on the various types of loans listed and you'll find detailed explanations, along with helpful Pros/Cons summaries to help you understand at a glance.

To get an idea of what LendingTree has to offer for your business, the main landing page (as well as the link for Business Loans on the primary site) will ask you first to choose what kind of business you have:

  • Sole Proprietorship
  • Partnership
  • Corporation
  • S-Corporation
  • LLC

From there, you'll choose the range of loan you're looking for, from less than $15,000 to more than $300,000. Enter the month and year that you started your business (or the acquisition date), your monthly revenue, and whether or not you've filed for bankruptcy in the last 7 years. You'll then need to provide your business' name, phone number, and email address in order to see your funding options. Just be aware that if you put it "dummy" information just to see your possible loan details, you'll get an error message saying that your data doesn't match.

The number of lenders a business is matched up with can vary significantly. Factors such as income, years in business, location and more will help determine how many companies are potentially interested in lending you money.

Of course, in order to get your loan funded, each lending partner will have their own specific requirements. LendingTree does a decent job of communicating that to prospective borrowers, giving a list of steps and documents, you should expect throughout the process, such as putting together a cash flow projection and gathering papers like your business license and your personal/business tax returns.

LendingTree reduces the headache many of us face attempting to borrow money. No need to complete multiple applications from local lenders when LendingTree serves as the liaison between business owners and banks. LendingTree provides a fast and efficient process of identifying potential lenders as well as a wealth of information for those looking to borrow for business purposes.

Visit Site >

BALBOA CAPITAL

Balboa Capital is a well-known company in the business loan market. Located in Irvine, CA, Balboa has been helping borrowers get the funds they need to start or grow their businesses anywhere in the US for nearly two decades.

Business owners looking to get a loan have two primary choices: small business loans or equipment leases. For either option, the process is simple:

  • Start by getting a free quote; for a small business loan, choose the amount desired, from $1000 to $250,000, and the desired term, from three months to one year. For example, a loan of $100,000 with a term length of 12 months is estimated to cost $446-$462 daily (or approximately $13,380-$13,860 per month).
  • Complete a short online application, providing basic details such as number of years in business, percentage of ownership, and location. (Note: the owner's social security number is required.)

Once those two steps have been completed, an account manager from Balboa Capital will contact the prospective borrower - often within a matter of minutes, and almost always the same day - with a decision on the loan. If approved, equipment financing is typically funded on the same day, and business loans are funded within a few days.

While Balboa Capital's site doesn't make their interest rates obvious or easy to find, we calculated on our sample loan described above that the interest rate would be somewhere around 60%! We highly recommend that prospective borrowers make sure to be very exact with their businesses' details (for example, years in business, total revenue, credit history) and to read the fine print, to make sure that any loan terms offered by Balboa Capital are reasonable, given the difficulty in determining outright what interest rates and fees might be expected.

We're encouraged to see that Balboa Capital maintains a perfect A+ rating with the Better Business Bureau, and an excellent rating across 72 reviews gathered by Trustpilot. Based on information offered by Balboa Capital's customers, we suggest that borrowers make sure to understand any origination fees, termination fees, and other costs, as some reviews express frustrations with unexpected costs in the fine print, especially for customers using Balboa's equipment lease program.

While we would have liked to see more transparency with Balboa Capital's interest rates and fees, their well-established history and excellent rating with the BBB make them a contender within the business loans market. As with any borrowing situation, customers should make sure to have a clear understanding of any possible fees and other costs before signing on the dotted line.

Visit Site >


Business Loans

To help you find the Best Business Loans, TopConsumerReviews.com provides you with an in-depth comparison of Lending Tree and Balboa Capital.

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

Companies from corporate giants to hot startups have begun offering perks and programs to tackle employees' stifling student loans

"The crushing weight of having to pay a student loan off coupled with low entry-level salaries creates a recipe for financial stress that can snowball," Jeremy Straub, CEO of Coastal Wealth, told Busi...

Published:  Wed, 18 Jul 2018 23:12:00 GMT



Does It Really Need to Be This Hard to Get a Business Loan

His i's were duly dotted, his t's correctly crossed. But he couldn't find a single bank that would give him a business loan. Related: What Does It Really Take to Get a Small-Business Loan Frustrated, ...

Published:  Wed, 18 Jul 2018 09:00:00 GMT



Sciortino: More branches means more SBA loans

It keeps everybody on their toes." Since the start of the federal fiscal year on Oct. 1, the Buffalo District Office has approved 629 small-business loans through the 7(a) lending program. Combined, t...

Published:  Thu, 19 Jul 2018 22:11:00 GMT



Local business receives SBA loan to expand

Businesses throughout the Village of Ruidoso have often sought help to start up a new business whether small and large. It can be difficult to find the necessary funding to get your business off the g...

Published:  Thu, 19 Jul 2018 16:08:00 GMT



Intelligent Reasons to go the Business Loan Way

It is, undoubtedly, true that going into debt for your business is, for major times, not a good idea, but that doesn't mean that there are no intelligent reasons to take a business loan. Following are ...

Published:  Wed, 18 Jul 2018 11:46:00 GMT



Salem student loan collection firm caught in U.S. Department of Education "˜politics'

Meanwhile, the company is struggling to diversify its business to lessen the impact of the decision. In 2009, Windham was one of seven companies to win a five-year contract to handle graduates that ha...

Published:  Wed, 18 Jul 2018 06:42:00 GMT



I took out student loans and it was the best decision I made - here's why

Student loans can leave young people in thousands of dollars worth of debt, with the average borrower graduating with over $37,000 to pay back. Despite the costs, student loans are a worthwhile invest...

Published:  Thu, 19 Jul 2018 14:26:00 GMT




We recommend

 

- View Full Site -