Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

LendingUSA point-of-sale financing review

Last updated:  

LendingUSA provides a dependable point-of-sale financing solution for businesses. With the portal, your customers can easily purchase what they want, when they want.

LendingUSA offers competitive financing for your clients so you can sell more at a faster rate. You can grow your revenues with point-of-sale financing through a seamless loan process using LendingUSA’s proprietary lending portal.

$1,000

Min. Amount

$35,000

Max. Amount

Details

Product NameLendingUSA point of sale financing
Min. Amount$1,000
Max. Amount$35,000
Loan Term36 to 60 months
APR14.99% to 29.99%
RequirementsMust have a business in the elective medical or consumer services industry.
Check eligibility

What is point-of-sale financing?

Point-of-sale financing provides customers a borrowing option at the time of purchase/payment. For example, a customer buying a $2,000 item online may be offered the option to pay for that purchase in installments at checkout. The lender gives the business owner the amount owed in full while the customer makes payments to lender to pay off the loan.

How does LendingUSA work?

LendingUSA’s one-step solution can help solve your customers’ financial needs quickly and affordably. Its portal specializes in direct-to-customer and point-of-sale lending options. The company follows three simple steps:

  • You become a participating merchant on the portal.
  • You offer your customers LendingUSA’s program.
  • Your customers apply for a loan.

Who is LendingUSA for?

LendingUSA’s point-of-sale financing could be ideal for businesses whose customers may not be able to pay upfront for their entire purchases. Its program is directed toward merchants specializing in consumer services and elective medical industries. However, LendingUSA may offer financing businesses to companies in other industries. Be sure to check LendingUSA’s website for more information.

What makes LendingUSA unique?

  • Technology-driven portal. LendingUSA’s portal offers a smooth financial process. It’s an uncomplicated way for your customers to purchase the goods and services you sell.
  • Free demo. Schedule a free 15-minute demo to learn how simple it is to offer financing options to your clients.
  • Fast funding. The portal makes quick ACH funding possible, and all deposits can go straight into your bank account.

Did you know?

The Automated Clearing House (ACH) is a network that moves money and information between bank accounts through direct deposits and payments. It processes more than $40 trillion each year and supports more than 90% of all electronic payments in the United States.

Benefits of LendingUSA’s point-of-sale financing

  • Live chat. Instead of waiting for an answer to your questions, chat with a representative for immediate help.
  • More approvals. The lending portal was created to maximize loan approvals.
  • Simple online process. LendingUSA boasts that its financing process offers quick credit decisions with low rates and affordable payment options — all online.
  • In-full payments. With LendingUSA, you are paid upfront and in full for a risk-free process, even if your client defaults.

What to watch out for

  • A limit on funding. The company offers financing from $1,000 to $35,000 only.
  • Not available in all states. Loans are not offered in Connecticut, New Hampshire, New York or West Virginia.
  • Origination fee. An 8% origination fee is included in the principal loan amount.
  • APR. Your APR is based on your credit score, application information, loan amount, loan term and credit history, with a maximum possible APR of 29.99%.

Compare other business financing options

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Varies
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
loading

Compare up to 4 providers

How do I use LendingUSA?

Enroll online with your full name, company name, title, phone number and email address. After filling out an online form and getting approved, you can set up the LendingUSA portal for your customers to use. Borrowers will receive a quick credit decision, and can sign the loan agreement electronically. Once the customer loan is approved, LendingUSA will send the funds to your business’s bank account.

Have more questions about LendingUSA?

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site