In this guide

  • Review
  • Details
    • Product Details
    • Fees
    • Application Requirements
  • Your reviews
Finder makes money from featured partners, but editorial opinions are our own.

Lending Loop Business Loan Review

  • Avatar
Lending Loop Business Loan
APR Range
Starting at 6.00%
Loan Amount
$1,000 - $500,000
Loan Term
3 - 60 months
Minimum Revenue
$8,500 /month
Minimum Time in Business
12 months
All information about Lending Loop Business Loan has been collected independently by Finder. Finder is not connected with Lending Loop products, and this page is not sponsored, endorsed or administered by, or associated with, Lending Loop. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Summary

If you’re a small business owner, the online Lending Loop business loan can give you flexible financing options to help you grow.

Online lender Lending Loop offers business loans from to at lower interest rates than traditional banks. If you're a small business owner or entrepreneur, a Lending Loop business loan can give you cash to finance operations.

Pros

  • Borrow up to $500,000
  • Online loan application
  • Receive personalized interest rates

Cons

  • Must have at least $100,000 in annual revenue
  • Unclear fees
  • Limited customer support

In this guide

  • Review
  • Details
    • Product Details
    • Fees
    • Application Requirements
  • Your reviews

Details

Product Details

Product Name Lending Loop Business Loan
Benefit Description Lending Loop offers personalized loans up to $500,000 for small business owners who have been business for at least 1 year and can show a minimum of $100,000 annual revenue.
APR 6.00% - 24.93%
Loan Amount $1,000 - $500,000
Loan Term 3 - 60 months
Loans Offered P2P
Turnaround Time 2 - 14 days
More Info

Fees

Application Fee N/A
Origination Fee 1.00% - 6.00%
Fees Establishment Fee: 1.00% - 6.00%
Non-sufficient Funds Fee $0
More Info

Application Requirements

Requirements - Have a Canadian bank account
- Place of business located in a Canadian province/territory
- At least 1 year in business
- At least $100,000 in annual revenue
- 600+ minimum credit score
- At least 50% of the directors of the corporation should be Canadian residents
- All directors should have reached the age of majority in the province/territory of residence of the applicant
Minimum Income $100,000 in annual revenue
Min. Credit Score 600
Serviced Provinces/Territories All of Canada
More Info

Main points to consider with a Lending Loop Business Loan

Lending Loop offers business loans to entrepreneurs and small business owners who have been in operation for at least a year. Loans from $1,000 to $500,000 are available for businesses that generate at least $100,000 in sales annually. Popular reasons to borrow include business expansion, inventory purchase, working capital, staffing, marketing and refinancing.

If your online application is approved, Lending Loop’s community of investors will fund your loan and offer you a personalized interest rate and repayment terms. Once funded, the money will be transferred to your bank account.

Features of a business loan from Lending Loop

  • Loan rates as low as 6%. Lending Loop offers business loans with interest rates starting at 6%. The interest rate you get depends on several factors, including personal credit score, how long you’ve been in business and annual revenue.
  • Available across Canada. Lending Loop Business Loans have no geographic restrictions for Canadian residents.
  • Loans for all business types. Lending Loop finances all types of businesses, including corporations, partnerships and sole proprietorships.
  • High loan rates. Business owners can borrow up to $500,000 with Lending Loop.
  • Entirely online. With Lending Loop, your application and financing are done completely online, which means there’s never a need to step foot inside a bank.
  • Dedicated account manager. All loan applications are reviewed and processed by a dedicated account manager.

How much does the loan cost?

Business loans from Lending Loop have interest rates as low as 6%. The exact interest rate you receive will be stated in your official loan contract along with any additional fees that may apply.

The total cost of the loan will depend on how much you borrow, the length of the loan and your personal credit score.

Compare business loans

1 - 3 of 3
Name Product APR Range Loan Amount Loan Term Minimum Revenue Minimum Time in Business Loans Offered Broker Compliance
Journey Capital Business Loan
8.00% – 29.00%
$5,000 - $300,000
4 - 24 months
$100,000/year
6+ months
Term Loan, Line of Credit, Merchant Cash Advance
To be eligible, you must have been in business for at least 6 months with a minimum annual gross revenue of $100,000.

Journey Capital offers fast and simple financing. Apply in less than 10 minutes with your basic business information and see your loan offers without hurting your credit score. Get approved within 1 business day, and choose your term, amount and payback schedule once approved.
Merchant Growth Business Loan
12.99% – 39.99%
$5,000 – $800,000
6 – 24 months
$10,000 /month
6 months
Unsecured Term, Line of Credit, Merchant Cash Advance
To be eligible, you must have been in business for at least 6 months and have a minimum of $10,000 in monthly sales.

Merchant Growth offers financing tailored to business needs. It specializes in providing capital based on future cash flows, but it also offers fixed solutions. Fill out an application within 5 minutes and get your funds within 24 hours.
Loans Canada Business Loan
6.60% - 29.00%
$4,000 - $500,000
3 - 60 months
over $10,000/month
100 days
Unsecured Term
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
To be eligible, you must have been in business for at least 100 days, have a Canadian business bank account and show a minimum of $10,000 in monthly deposits ($120,000/year).

Loans Canada connects Canadian small business owners to lenders offering financing up to $500,000. Complete one simple online application and get matched with your loan options.
loading

How to apply for a Lending Loop Business Loan

You will be asked to create a profile to submit your application. To be eligible for the loan, you need to meet the following criteria:

  • Be a citizen or resident of Canada
  • Be at least 18 years of age
  • Have a personal credit score of at least 600
  • Own a corporation, partnership or sole proprietorship
  • Have a business that’s at least one year old
  • Have a business that generates at least $100,000 in annual revenue

When applying for a business loan you generally need to provide:

  • Personal information including your name, address and email address
  • Business information, including business type and proof of sales
  • Canadian bank account details

Finder’s Business Loan Guide

Your reviews

No reviews yet. Write a review
Go to site