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$5,000
Min. Amount
$5,000,000
Max. Amount
Product Name | Celeri Network business loans |
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Min. Amount | $5,000 |
Max. Amount | $5,000,000 |
Loan Term | 3 to 36 months. However, for SBA products the loan term could be as long as 10 years. |
Min. Credit Score | 500 |
APR | 3.33% to 29.99% |
Requirements | 6+ months in business, $10,000+ monthly revenue, 500+ credit score |
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The lenders that work with Celeri Network have competitive rates starting at 3.33%. Its lenders accept businesses as young as six months, and you can potentially still qualify with a personal credit score of 500 — although you may need a cosigner.
But expect high monthly payments. Because its lenders only offer loan terms of three months to three years, your business may end up footing an expensive monthly bill — especially if you end up with an APR on the higher side.
To see how Celeri Network stacks up, view more business loans and compare your options.
Celeri Network's lenders offer rates starting at 3.33% for the most qualified businesses. However, rates may go as high as 29.99% — which may mean your business pays a significant amount in interest. Loan amounts range from $5,000 to $5 million, and there are no origination or prepayment fees.
Non-SBA loan terms are relatively short, ranging from three to 36 months. This means that your business will need to be able to handle high monthly repayments, especially if you need to borrow a larger loan amount. However, SBA loan products could have loan repayment terms extending out 10 years.
If you receive an offer, use the calculator below to see how much your business will need to pay each month.
See how much you'll pay
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Celeri Network is not a lender. Instead, it connects you with one or more lenders that might suit your business's financing needs.
To qualify for low rates, you need to have a personal credit score of at least 680. The closer you are to excellent credit — 720 or higher — the higher your chances of being approved for the lowest APR. Business owners with credit scores under 680 may still qualify, but Celeri Network recommends applying with a cosigner to help improve your chances of being approved for a loan.
While Celeri Network recommends a personal credit score above 680, you and your business only need to meet these requirements to be eligible for financing:
You only need a few pieces of information to get matched with a lender. But to apply with one of the lenders, you'll need to gather the following documents:
Celeri Network doesn't limit which industries are allowed to sign up with it. Since it's a connection service, it works with numerous lenders and won't rule your business out by industry alone.
Outside of business term loans, Celeri Network can connect borrowers with a number of products.
Overall, Celeri Network is a legit connection service with more benefits than drawbacks.
Select your desired loan amount, revenue, time in business and personal credit score on the table below to compare direct lenders without submitting your information.
Yes, Celeri Network is a legit lender. It has a secure website and a standard privacy policy that outlines how your information is collected and used.
Personal and business information will be sent to lenders as part of the connection process. But Celeri Network states that it won't sell or rent any of your information to third parties — a step above some other connection services out there.
BBB accredited | No |
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BBB rating | N/A |
Customer reviews verified as of | 12 October 2020 |
As of July 2020, Celeri Network has not received any reviews on Trustpilot and doesn't have a BBB page. While this isn't uncommon for a connection service, it does make it difficult to know how well it matches lenders and borrowers — and the type of marketing materials you may receive after you submit your information.
To be connected with a lender through Celeri Network, follow these steps:
If you're preapproved for a loan, a representative from Celeri Network will reach out to discuss the next steps of the application. You can upload copies of your three most recent bank statements to speed up the review process.
You may need to submit information about your business, like a business plan and proof of income, to your lender to finalize your application. The process usually takes less than two business days, and you could receive funding directly to your business bank account upon approval.
If you aren't connected with a lender or aren't approved for a loan, Celeri Network recommends improving your business's application and reapplying after 90 days.
Because Celeri Network isn't a direct lender, you don't make repayments to it. Your loan agreement will outline where to send payments and your repayment options.
Keep in mind that the lenders Celeri Network works with don't charge prepayment penalties, so you may be able to save on interest by repaying your loan before the end of your loan term.
Celeri Network is a good way for newer businesses to find a lender. But before you get started, read our guide to business loans to ensure you're making the right financing choice for your business.