LoanMe Small Business Loans
LoanMe Small Business Loans
in Business Loans from LoanMe Inc.

LoanMe Small Business Loans

in Business Loans from LoanMe Inc.
Net Recommendation Score -100  


This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.


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.

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Loan Amount $600 - $20,000
APR  (Variable APR) 14% - 149%
Loan Term (Months) 7 - 120 months

LoanMe Small Business Loans Review

Loan me is a business financing offering by LoanMe Inc., based in Anaheim, CA. Founded in 2012, LoanMe Inc. offers access to small business loans in 29 states (and Washington, DC).

Loan me FAQ

What are Loan me’s rates?

Loan me offers a variable APR business financing product that ranges from 14% APR up to 149% APR.

Does Loan me charge an origination fee?

Yes, Loan me charges a loan origination fee starting at 5% of the business loan amount. Loan me 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 Loan me set on the purpose of the business loan?

Loan me considers business 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 small business loans does Loan me 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. Loan me provides access to the following business loan types:

  • SBA Loans
  • Merchant Cash Advances
  • Bridge Loans

Does Loan me charge prepayment fees?

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

How much can you borrow from Loan me?

Business loan amounts start at $600 and go up to $20,000.

What is the maximum business loan term you can get with Loan me?

Loan me offers small 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 LoanMe Small Business Loans?

LoanMe Small Business Loans requires companies to be in business for at least 2 months. Businesses don't have to meet a minimum annual revenue to be considered.

When it comes to credit scores, LoanMe Inc. doesn't have a set minimum or maximum. People with all types of credit scores can apply.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the LoanMe Small Business Loans product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by LoanMe Small Business Loans.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity
  • U.S. tax identification number

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

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

Does LoanMe Small Business Loans report your account activity to credit bureaus?

Yes, LoanMe Small Business Loans reports your account activity to the following credit reporting agencies:

  • Experian

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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Message From Our Editor

What We Love About LoanMe Personal and Small Business Loans

LoanMe offers flexible terms for those seeking personal or business loans. They are a great option for debt consolidation, and making on-time payments can improve your credit score. 

The application process is fast and convenient. You can enter your information online or by phone. If accepted, borrowers can get funds deposited in their bank account in as little as 3-4 hours. LoanMe offers fixed monthly payments, and there is no penalty for paying off your loan early if you choose to do so. 

What Could LoanMe Do Better?

LoanMe’s market is somewhat limited, as it only loans money to people and small businesses in a few states. This means customers who live elsewhere will have to find another lending option. We would like to see LoanMe increase its licensing to all 50 states. 

LoanMe’s Backstory

LoanMe was founded in 2013 in Anaheim, California. They are an alternative to short-term lenders for individuals looking to consolidate debt and small businesses looking to grow. They are licensed to lend in 10 states, as mentioned above.

The Verdict

LoanMe, like many emerging online lenders, has a streamlined, no-hassle loan application process. Their quick approval and disbursement process is a plus for people who find themselves strapped for cash for any reason.

However, this convenience comes with a price. You could be faced with higher interest rates, so proceed with caution, especially if you have below-average to poor credit. LoanMe does not lend to customers in more states because certain states have laws against high-interest rate loans like the ones LoanMe offers. Ideally, this kind of loan would help you in a bind and be paid off early to avoid paying excessive amounts of interest.

For small businesses, though, this may be a better option if it is sure to be paid back on time and in full each month. 


Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 6:00pm
  • Tuesday 8:00am - 6:00pm
  • Wednesday 8:00am - 6:00pm
  • Thursday 8:00am - 6:00pm
  • Friday 8:00am - 6:00pm
  • Saturday 8:00am - 6:00pm

Other Services by LoanMe Inc.


  Available in 29 states and Washington, D.C.
  • Alabama
  • Arizona
  • California
  • Washington, DC
  • Delaware
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maryland
  • Maine
  • Missouri
  • Mississippi
  • North Carolina
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Ohio
  • Oregon
  • South Carolina
  • Utah
  • Virginia
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee
Origination Fee (%) Starting at 5%
Credit Score Range 300 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 2
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • U.S. Tax Identification Number
Approval Speed 24 hours
Credit Bureau Reporting Experian
Funding Time Range Starting at 1 day
Lender Features Customizable Payment Dates
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
Pre-Qualified Soft Credit Inquiry
APR Type Variable APR
Loan Amount $600 - $20,000
APR (Variable APR) 14% - 149%
Loan Term 7 - 120 months

LoanMe Small Business Loans Community Reviews


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This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.


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.

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