What Loan Products Does Lendio Offer?

What Is a Business Line of Credit?

A business line of credit is a credit account available to you when you need it. You can get a business line of credit ranging from $1,000 to $500,00, and you’ll only pay interest on funds withdrawn. The best part is, you can use your line of credit for just anything your business may need like buying equipment, paying employees, purchasing a building , or paying off debts. And it only takes one to two weeks to get approved! Check it out for yourself.

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What Is an SBA 7a Loan?

An SBA 7a loan is the most common type of SBA loan, offering flexible financing that can be used for all your business needs. The loan amount ranges from $50,000 to $5,000,000, to be paid back over either a 10-year or 25-year term on a monthly basis. There’s even an SBA 7a real estate loan with 25-year terms, monthly payments, and 85% financing on your project.

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What Is an SBA 504 Loan?

An SBA 504 loan is a type of loan from the Small Business Association that deals with real estate only. The SBA finances 40% of the loan, a traditional bank will finance another 50%, leaving you with only a 10% down payment. Though the application is long, an SBA 504 loan offers the highest leverage available for real estate purchasing, and the longest terms with the lowest rates.

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What Is an SBA Express Loan?

An SBA express loan differs from other SBA loans in that its use is extremely limited and less funding is offered. Additionally, an SBA express loan can be processed significantly faster than other SBA loans. Typically they offer funding from $50,000 to $350,000, and can be used only for working capital, equipment, and construction. They also provide 10-year terms and are paid back monthly.

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What Is a Business Credit Card?

Business and personal credit cards function in much the same ways: they offer on-demand funding; flexibility for large or small, long-term or short-term purchases; and can be leveraged to provide or preserve cash for your business. They also improve your business’s credit and provide fast and reliable funding when needed most.

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What Is Equipment Financing?

The term “equipment” is a huge umbrella that covers just about any items you need for your business. However, it can only be used to purchase equipment. A relatively easy to obtain and quick-funded loan, equipment financing is one of the most common loans. It can help your business generate revenue almost immediately, keep your working capital in your business, and is excellent for your business credit.

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What Is a Commercial Mortgage?

A commercial mortgage is capital loaned for business real estate purposes. We offer commercial mortgage loans from $250,000 to $5,000,000 with loan terms of 20-25 years. The payments are always monthly and have some of the best interest rates available, ranging from 4.25-6%. Though the time to fund averages between 45 and 90 days, this is one of highest quality loans available.

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What Is a Startup Loan?

A startup loan is funding for a business that isn’t yet operating. We can offer you anywhere from $500 to $750,000, and the interest rates typically range from 0-17%. Additionally, you can be funded in 14 to 60 days, you don’t have to give up any equity in your business, and it will help your business establish a credit history. Go get ’em!

 

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What Is a Term Loan?

Term loans offer fixed maturity dates, fixed interest rates, and regular repayment terms. It’s the go-to loan for expanding a business, purchasing equipment, buying real estate, or providing working capital for established businesses, providing terms of 1-5 years, borrowing amounts between $5,000-2,000,000, and you funding time as little as 24 hours.

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What Is a Short-Term Loan?

A short-term loan is all about flexibility.  When your company suddenly needs capital unexpectedly, a short-term loan is a great way to get between $2,500-500,000 in as little as 24 hours. Terms are typically 1-3 years with varying payment frequencies. And though the rates aren’t as good as traditional loans, you simply can’t get versatile money faster.

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What Is a Merchant Cash Advance?

A merchant cash advance is basically a loan on your future earnings. Not only is it a relatively easy loan to qualify for, but it’s also one of the fastest ways to get funding when you really need it. You can borrow anywhere between $5,000-200,000 you can receive your funds in as little as 24 hours.

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What Is a Business Acquisition Loan?

Looking to buy a business? Great news! If you want to purchase a business that already exists for whatever reason, a business acquisition loan will help you do exactly that. With 10-year terms, low interest rates, and a high borrowing cap, you could be on your way to calling that business yours in 30-90 days.

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What Is Accounts Receivable Financing?

Basically, it’s a loan you take out against your outstanding invoices. The lender pays you and then contacts your customers and collects the money directly from them. Doing things this way can cut down your time-to-payment for low interest rates, helping you use money owed to you when you need it, rather then after the 30 day processing period.

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What Is American Express Merchant Financing?

American Express merchant financing is an exclusive product through Lendio’s platform. If your business accepts American Express cards and you qualify for the loan product, you can receive between $5,000-2,000,000 in as little as 24 hours. And instead of an APR, American Express allows you to pay a fixed fee of 8% of the financed amount in interest.

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What Is an ACH Loan?

Most banks aren’t willing to look past poor credit. That’s why we offer ACH loans. We will always try to get you the best loan possible, whether that is an ACH loan or another option. But having an ACH loan as a choice can sometimes make the difference between your company getting no financing, or quickly getting the funding it needs.

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