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

 

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

 

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 shutdown impacts millions in local small business loans

Alice Boykin had secured financing through banks and HCDC to buy an Over-the-Rhine building and open up a first-for-Cincinnati Japanese spa with plans to close at the end of December. Then, the federa...

Published:  Thu, 17 Jan 2019 12:01:00 GMT



Bad for business Weighing shutdown's impact on commercial loans

Commercial loan portfolios may take a hit if the government shutdown persists. The current partial closure, which started on Dec. 22, is the longest in U.S. history. Credit unions and banks have jumpe...

Published:  Fri, 18 Jan 2019 07:14:00 GMT



Need a Small Business Loan Why the Small Business Administration Can't Help

The backlog of small business loans held up by the federal government shutdown is getting bigger by the day. The Small Business Administration halted its program supporting 7(a) loans for working capi...

Published:  Wed, 16 Jan 2019 00:34:00 GMT



What Percent of Small Business Have Loans over $300,000

Don't miss another episode of Truth In Data! Click on the red bell in the lower left corner of your screen to receive notifications as soon as the episode publishes. Data for this episode of Truth In ...

Published:  Wed, 16 Jan 2019 10:33:00 GMT



Color of Money: Worried about your loans during the government shutdown Financial institutions say: Call us.

car loans, business loans or credit cards," the statement said. "As they have in prior shutdowns, the agencies encourage financial institutions to consider prudent efforts to modify terms on existing ...

Published:  Sat, 19 Jan 2019 20:55:00 GMT



America's small business owners suffer as shutdown halts popular loan approvals

An ongoing partial government shutdown - the longest in U.S. history - might be starting to take a toll on America's entrepreneurs. The Small Business Administration (SBA) is not approving ...

Published:  Fri, 18 Jan 2019 09:54:00 GMT



Wilkes group secures record $18M in loans for small businesses

Cronauer worked with business consultant Ray Haden to secure a 20-year SBA 504 loan with a fixed interest rate that helped him construct and start the gym. "We wouldn't be able to do it without his kn...

Published:  Sat, 19 Jan 2019 21:49:00 GMT



5 key reasons why successful SMEs take business loans

Oxley's $950m hotel divestment could see 4.7% gross yield: analyst SPH profits down 6.3% to $57.9m in Q1 China says its trade surplus last year was $351.76 billion - the lowest since 2013 M'sian chain ...

Published:  Tue, 15 Jan 2019 15:31:00 GMT



GoL, LBDI Sign US$2M Small Business Pro-poor Development Loan Scheme

(From left) Finance Minister Samuel D. Tweah, Jr. and Commerce Minister Wilson Tarpeh, affix their signatures to Loan Scheme document. The Government of Liberia through the Ministry of Finance and Dev...

Published:  Thu, 17 Jan 2019 18:47:00 GMT




We recommend

 

- View Full Site -