CurrencyFair is the world’s largest peer to peer marketplace that offers a unique approach to its customers for transferring money internationally. Unlike other money transfer services, CurrencyFair lets you exchange your currency with other customers of the company. This is a unique, transparent, and fully automatic approach to exchanging currencies. CurrencyFair lets you exchange between 18 different available currencies. After you have exchanged your currency on the marketplace, you’ll have to pay a small flat fee of €3 to send out the money to any bank account of your choice. The money usually takes 1-2 days to arrive but for some currencies, it can take up to 4-5 days.
Western Union is the world’s oldest and largest money transfer service that holds a distinguished place in the industry. It is widely recognized and well reputed for its global availability, fast transferring speed, and the host of options offered to consumers. The company has over 500,000 Agent locations worldwide in more than 200 countries. It lets you send money in more than 130 currencies, and offers a variety of choices for pay-in and pay-out methods. The company’s fees are generally higher but it offers great speed and convenience in return.
Ria Money Transfer is operating since 1987 and is one of the largest money transfer companies in the world. It offers a simple, fast, and convenient money transfer service along with a host of other financial services such as bill payments, mobile top-ups, currency exchange, and check cashing. They have wide availability and a fast money transfer service. Although the company’s exchange rate is not the best in the market, it does offer good value in return in the form of convenience, speed, and ease.
Lending Club is the nation’s largest peer to peer loan provider and has been in business since 2007. The company offers up to $300,000 as term loans and in lines of credit with flexible repayment terms, ranging from one to five years. The company has one of the most competitive interest rates in the industry; however, only individuals with a good credit score can attain the best APR from Lending Club. The interest rate ranges from 5.99% to 35.89% depending on your credit score. Many new and small businesses won’t qualify for a loan from the Lending Club due to their stricter requirements.
Fundation is a relatively new company in the business loan providing industry. The company offers up to $150,000 as working capital loans and up to 500,000 as business expansion loans. The company has an APR ranging from 7.99% to 25%, and it claims that 85% of its customers qualify for an APR of under 20%. Fundation charges an origination fee of up to 3% on your loan, and there are no other hidden or extra charges apart from the origination fee. The company’s services are available nationwide.
OnDeck has been in the small business loans industry since 2007 and has issued over $5 billion in loans to businesses of diverse industries across Canada, Australia, and the United States. The application process is very simple and easy and can be processed online or over the phone. The funds’ availability is also quick and takes up to a maximum of 3 days. The company offers several types of loans for small businesses and is best stuited for businesses looking for a quick cash flow at a higher interest rate.
Kabbage is a direct money lending service providing an immediate line of credit to upstart and struggling businesses. While the company’s loan application process is very simple and quick, it is one of the highest charging businesses in the industry. Kabbage offers small business loans of up to $150,000 and focuses more on your linked business accounts in order to evaluate your application. The company’s service is ideal for businesses that have immediate cash requirements and do not mind paying higher interest rates.