With the Lending Club business loans one can get up to $300,000 with low rates. One can use the online application to apply but before that the loan approval tips must be over-viewed. Lending club is the peer to peer lender. Their headquarters are in the San Francisco, California. Their number of employees are about 1000. It offers the personal loans as well as a small business loan for their customers.
The lending club provides the business loans up to the $300k. The rate for the small business loan is much lower and also they give the loan quickly after the approval. The whole process to apply for the lending club business loan can be completed online and get the amount from the lenders.
Requirements to Qualify for the Business Loan
The requirements to qualify for the Lending Club Business Loan are not much greater. The important few of them are given below:
- The applicant must own the business that is started for more than the time of 2 years. This is to get the idea of the present condition of the business.
- This is necessary that the annual profit from the business must be above the $75,000. This is to determine that the borrower can return the loan or not.
- Once the applicant got approved for the loan, then the applicant can advertise his business and can get the most annual profit.
- If you are not the owner of the business then it is necessary that you must have 20% share in the business. And also if you want to get approved for the loan, then you must have the good credit. The customers with bad or poor credit do not have any chance to get the lending club Small business loan.
- The one benefit for the customers is that there is the no requirement of the collateral to get the small business loan below the $100k or through lines of credit. As well as there is also no hidden fee or any much greater organization fee.
How to Apply for The Lending Club Small Business Loan
Open the website of the lending club www.lendinglub.com. Click on that option sign in on the homepage. Then get the application form for the business loan from the website. On the next page, you have to fill the form present on that page and provide the personal information that is required. This method is 100% safe and secure. If anyone of you has some questions about the loan, then contact the 855-846-0153.
Other Options for Small Business Loans:
Comparison Between Lending Club and Other Lenders
There are the other lenders that offer the business loan other than the Lending club. The lending club offers the business loan for the less time while others have the long term loans. The interest rates are fixed and suitable for the borrowers. The other lenders charge the extra fees but there is no pre-payment penalty or any other organization fee for Lending Club Business Loan. All the above discussion shows that the lending club is the best lender. The review about it is also good because of these above factors.