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LendingUSA point-of-sale financing review

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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 Term3 to 5 years
RequirementsMust have a business in the elective medical or consumer services industry.
Go to LendingUSA, LLC's website

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.

Go to LendingUSA, LLC's site

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

Updated October 16th, 2019
Name Product Filter Values Min. Amount Max. Amount Requirements
$5,000
$500,000
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Customizable loans with no origination fee for business owners in a hurry.
$5,000
$250,000
6+ months in business, $100,000+ annual revenue, 600+ credit score, not based in North Dakota or South Dakota
Get a predictable business loan with a fixed weekly rate.
$50,000
$1,000,000
2+ years in business, 620+ credit score, not a sole proprietorship or nonprofit, strong financial history
Financing for high-risk industries with transparent rates and terms.
$5,000
$500,000
600+ personal credit score, 1+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
$10,000
$5,000,000
Your company must have been in business for at least 6 months and have an annual revenue of at least $100,000.
Get a large business loan to cover your financing needs, no matter what the purpose is. Startups welcome with 680+ credit score.
$500
$250,000
1+ years in business, $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months
A simple, convenient online application could securely get the funds you need to grow your business.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but many require good personal credit, minimum annual revenue and minimum time in business
Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
$5,000
$1,000,000
1+ years in business, $10,000+ monthly revenue
Apply online and get approved within hours with minimal paperwork. Multiple financing options available.
$500
$5,000,000
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
$500
$100,000
Credit score of 500+, legal US resident and ages 18+.
Use this connection service to get paired with a loan you can use for business.

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?

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