Yes Financial Services LLC is a Florida based small business loan company that just opened up their services nationwide. Yes Financial Services LLC was created by Edward Bruce Fay and Jerry Brauser. About Edward Fay: Edward Fay runs the day to day operations at Yes Financial Services ensuring clients get a top level of customer […]
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.
Prosper is amongst the leading peer to peer lending solutions providers in the United States. The company provides personal loans for small businesses and is the best choice for startups looking to support their business but lacking a demonstrable business tracking record. Prosper provides loans of up to $35,000 and accepts applications based on an individual’s credit history. The credit history also determines the interest rate that Prosper will be charging you. For some people, the interest rate can be too high up to a maximum of 32.99%.