|Loan Amount||$5,000 - $250,000|
|APR (Fixed APR)||6% - 13%|
|Loan Term (Months)||Up to 60 months|
LendingCrowd Business Loans Review
Lending crowd is a business financing offering by LendingCrowd, based in Edinburgh, . Founded in 2014, LendingCrowd offers access to small business loans in state across the USA.
Lending crowd FAQ
What are Lending crowd’s rates?
Lending crowd offers a fixed APR business financing product that ranges from 6% APR up to 13% APR.
Does Lending crowd charge an origination fee?
Yes, Lending crowd charges a loan origination fee starting at 2% of the business loan amount. Lending crowd deducts the fee directly from your business loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.
What limitations does Lending crowd set on the purpose of the business loan?
Lending crowd considers business loan applications for business purposes, such as:
- Equipment Purchase
- Lease Improvement
- New Location
- Product or Service Expansion
- Working capital
What types of small business loans does Lending crowd offer?
Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Lending crowd provides access to the following business loan types:
- Unsecured Term Business Loans
Does Lending crowd charge prepayment fees?Yes, Lending crowd charges additional fees to borrowers who pay off their small business loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a business loan early.
How much can you borrow from Lending crowd?
Business loan amounts start at $5,000 and go up to $250,000.
What is the maximum business loan term you can get with Lending crowd?
Lending crowd offers small business loans with a maximum term of 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for LendingCrowd Business Loans?
LendingCrowd Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.Applicants with a credit score of at least 640 and up to 850 may be eligible for LendingCrowd Business Loans.