in Business Loans from LoanMe




in Business Loans from LoanMe

SuperMoney Net Recommendation Score -100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly not recommended

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2 users don't recommend
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You voted: May or may not recommend

Community Rating Strongly not recommended
Loan Amount $3,500 - $250,000
APR 14% - 149%
Loan Term (Months) 7 - 120

LoanMe Review

Where does LoanMe do business?

LoanMe is a business financing offering by LoanMe, a financial services company based in Anaheim, CA. Founded in 2014, LoanMe offers access to business loans in 23 states (and Washington, DC).

What are LoanMe’s rates?

LoanMe offers a business financing product that ranges from 14% APR up to 149% APR.

Does LoanMe charge an origination fee?

Yes, LoanMe charges a loan origination fee starting at 5% of the loan amount. LoanMe deducts the fee directly from your 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 LoanMe set on the purpose of the loan?

LoanMe considers loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

What types of business loans does LoanMe offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. LoanMe provides access to the following business loan types:

  • SBA Loans
  • Merchant Cash Advances
  • Bridge Loans

Does LoanMe charge prepayment fees?

No, LoanMe does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from LoanMe?

Loan amounts start at $3,500 and go up to $250,000.

What is the maximum loan term you can get with LoanMe?

LoanMe offers business loans with terms ranging from 7 to 120 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 a loan with LoanMe?

Applicants with a credit score of at least 300 can apply for a loan via LoanMe. LoanMe requires companies to be in business for at least 2 months. Businesses don't have to meet a minimum annual revenue to be considered

Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:

  • Proof of Identity
  • Proof of Income

What is the estimated funding time for a business loan via LoanMe?

LoanMe can approve (or deny) a loan application within 24 hours and fund business loans within 1 business day of approval.

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  • Headquarters
  •   LoanMe, Inc.
    1900 S. State College Boulevard, Suite 300
    Anaheim, CA 92806 USA
  •   Visit Site

Other Services by LoanMe


Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 23 states and Washington, D.C.
  • Alabama
  • Arizona
  • California
  • Delaware
  • Washington, DC
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kentucky
  • Louisiana
  • Maine
  • Mississippi
  • Missouri
  • Nebraska
  • New Hampshire
  • New Mexico
  • Ohio
  • Oregon
  • South Carolina
  • Utah
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee  
Origination Fee Starting at 5%
Credit Score Range 300 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 2
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • U.S. Tax Identification Number
Loan Amount $3.5K - $250K
Loan Term (Months) 7 - 120
APR 14% - 149%

LoanMe Community Reviews


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