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 CAN 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 >

CAN CAPITAL

Established in 1998, Georgia-based CAN Capital offers business loans ranging from $2,500 to $150,000 or more with terms from 4-24 months. CAN Capital focuses specifically on small business owners, with tools, resources, and blog posts directed towards helping them to grow their businesses and succeed.

Unfortunately, CAN Capital is not one of the lenders in our review who make business loans to startups: they require borrowers to have been in business for at least four months and have monthly revenue that is relatively stable.

The application process is relatively simple and is comparable to other lenders' in our review: enter basic information about the business, such as the gross monthly sales, number of months or years in business, and the business' location. Once the application is approved, funds can be sent is as little as two business days.

While CAN Capital doesn't publish their APR during any part of quote or application process, there is a calculator that allows prospective borrowers to enter the amount of their monthly sales, the desired loan amount and term, and see the weekday payment, principal amount and the total repayment amount. Of course, this is just an estimate; the final loan offered would naturally depend on the business' history, creditworthiness, and actual loan terms. Customers should make sure to read the fine print: both when we ran our own theoretical scenarios and when we considered CAN Capital's reviews, we saw interest rates around 30%, all the way up to 85%! Given that CAN Capital focuses on small businesses, particularly those who haven't been able to qualify for a traditional loan, we wonder if such high interest rates will actually help a business to succeed instead of being overburdened with (additional) debt.

Another possible downside of having a business loan with CAN Capital is the effect on one's personal credit; one customer complained that CAN Capital pulled a hard inquiry on their personal credit every six months for the duration of their loan, even though the customer had no late payments or any other issues with the loan.

On the other hand, CAN Capital has been accredited with the Better Business Bureau since 1998 and carries an A+ rating. In our opinion, this carries a great deal of weight and would indicate that, overall, CAN Capital is doing a good job of providing loans to almost 140,000 small businesses in ways that are honest and trustworthy.

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 CAN 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

Federal loans open to Pinellas businesses struggling against Red Tide

The U.S. Small Business Administration has extended its disaster loan program to include Pinellas and Pasco county businesses affected by Red Tide. Already, the Pinellas County Economic Development Of...

Published:  Fri, 21 Sep 2018 07:34:00 GMT



Entrepreneurs Can Focus on Their Business Instead of Student Loans With the Right Repayment Plan, Says Ameritech Financial

ROHNERT PARK, Calif., Sept. 21, 2018 /PRNewswire/ -- Student loans may prevent an entrepreneur from pursuing their business plans. The resources and time needed for an entrepreneur's goals may be ...

Published:  Fri, 21 Sep 2018 08:14:00 GMT



Leveraged Loans Are Flying Off the Shelves

Blackstone Group LP this week borrowed $9.25 billion in the U.S. and European loan market to fund its buyout of a stake in Thomson Reuters Corp.'s financial terminal business, and received orders far ...

Published:  Fri, 21 Sep 2018 03:00:01 GMT



New small business loan and grant fund from BC Vision offers up to $10k in assistance

New small business loan and grant fund from BC Vision offers up to $10k in assistance A new local small business community loan and grant fund is started, and Chemical Bank is its first financial supp...

Published:  Fri, 21 Sep 2018 11:32:00 GMT



Francis: 401(k) plans evolve to help young workers pay off student loans and save for retirement

their plan balances are on average less than half those without student loan debt. Like Milwaukee Journal Sentinel Business on Facebook for the latest updates right in your news feed. Visit JS Busines...

Published:  Fri, 21 Sep 2018 09:40:00 GMT



Some beach business owners impacted by red tide eager for emergency loans

MADEIRA BEACH, Fla. - On an average day during the slow season, Ed Mahon says his frozen yogurt business near the boardwalk and John's Pass averages between $300-500 in sales. One day this week, he ma...

Published:  Thu, 20 Sep 2018 04:11:00 GMT



New campaign provides loans to Latina-owned businesses

Women-owned businesses account for 39 percent of all U.S. firms but receive only 16 percent of all traditional business loans and only 4 percent of all dollars lent. Barriers to accessing responsible ...

Published:  Thu, 20 Sep 2018 03:41:00 GMT



Personal Loans for Business Why Some SMB Are Taking Out Personal Loans

Business owners try and keep their finances separate from their business. When a small business tries to secure a loan, the lender will often require the borrower to personally guarantee the loan. Thi...

Published:  Sun, 09 Sep 2018 08:50:00 GMT




We recommend

 

- View Full Site -