Last Updated: 06/21/2025
Explore a similar product
Try this top product in Business Loans
Fora Financial Business Loans
Strongly recommended9 reviews
Compare All Business Loans
Filter & compare all your options in one place.
Highlights
Amount Range
$600 - $20,000
APR (Variable APR)
14% - 149%(Verified 06/21/2024)
Disclaimer popup with additional information
Loan Term (Months)
7 - 120
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 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.
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.
When it comes to credit scores, LoanMe Small Business Loans doesn't have a set minimum or maximum. People with all types of credit scores can apply.
U.S. citizens and permanent resident / green card holders with a U.S. tax identification number 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 or other government photo ID
- 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 fund small business loans as soon as 1 business day.
Does LoanMe Small Business Loans report your account activity to credit bureaus?
Yes, LoanMe Small Business Loans reports to the following credit bureau:
- 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 build your credit.
Does LoanMe Inc. perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. Loan me allows you to check your rates with a soft credit pull.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
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.
Contact
Headquarters
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.
Merchant Cash Advance
Rating not yet determined (1 Review)
Personal Loans
172
187 Reviews
SuperMoney Net Recommendation Score
Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.
-100
-1000+100
No one recommends
Everyone recommends
LoanMe Small Business Loans Community Reviews
Would you recommend LoanMe Small Business Loans to your friends?
LP
Lori P.
Sep 18, 2022
May or may not recommend
LoanMe just robbed me and and my disabled child’s disability account this week 9-13-22. James Cooper kept depositing thousands of dollars in my account for several days in a row then blowing my phone up with harassing threatening texts and messages that I had to send it back or my credit and live would be ruined. Then the bank he wrote fake checks from came after my account so not ...Show More
U
Anonymous
Sep 8, 2016
May or may not recommend
I am interested in class action lawsuit against LOANME if anyone knows of one being created please respond.
U
Anonymous
Jun 22, 2016
May or may not recommend
Recvd an offer from LoanMe via mail,never did any loans on line or thru the mail before and I do have a small business which I am always in the market for quick funds reasonable rates for working capital. Thought this could be an option for easy turnaround. Checked the reviews for this company and there was none that was good. Being small business, depending on ...Show More
Showing 3 of 3 reviews
