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Loanry business loans review

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Compare financing options quickly — but not every pick is tailored to your business.

  • Best for quickly finding lenders offering a variety of business loan options.
  • Pick something else if you want to avoid having your personal information sold for marketing purposes.

$1,000

Min. Amount

$100,000

Max. Amount

Details

Product NameLoanry business loans
Min. Amount$1,000
Max. Amount$100,000
Loan Term24 to 84 months
APRStarting from 4.99%
RequirementsNo set requirements

Expert review

Kellye Guinan

Review by


Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

Expert review

Loanry is best for small businesses that are unsure where to find lenders. Because it’s a connection service, you can submit some basic information about yourself to see which lenders you might qualify with. Having bad credit doesn’t eliminate you from all lenders — some accept bad credit.

However, Loanry’s simple form is geared more toward personal loans. While it could show you some business loan lenders in its network, you won’t have the ability to submit any information about your business — which could reduce your options. And it bases your choices on how much a lender is willing to pay for a lead, not on the choice that’s best for your business.

To avoid being connected with a lender that may not suit your business, compare business loans to find a direct lender that won’t sell your information.

How much will this loan cost me?

Loanry doesn't charge any fees to use its connection service. However, your lender will still charge interest and fees on your business loan. Before you apply, confirm all potential costs with your lender.

You can estimate your monthly payment by entering the amount you're requesting, and potential terms and APRs using our calculator.

Business loan calculator

See how much you'll pay

Your loan
Loan amount
$
Loan terms (in years)
Interest rate
$ %

Fill out the form and click on “Calculate” to see your estimated monthly payment.

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Based on your loan terms…

You can expect to pay back $ per month

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How it works

When you submit Loanry's one-page form, it may connect you with one or more lenders in its network. If you are connected, you're able to visit the lender's website to complete a full application.

What do I need to qualify?

There are no set requirements you or your business needs to meet to be connected with a lender. But you will need to request a loan amount between $1,000 and $100,000.

What information do I need to sign up?

Loanry requires you to submit a few basic pieces of information, including:

  • Date of birth
  • Social Security number
  • Annual income
  • Employment status

What other types of financing does Loanry offer?

Loanry connects businesses and individuals to a wide variety of lenders. You could find a personal loan, auto loan, mortgage or credit card through its network.

Pros and cons

Before signing up with Loanry, consider the benefits and drawbacks of using this connection service.

Pros

  • Bad credit OK
  • Quick one-page form

Cons

  • Sells your personal and business information as a lead
  • Geared toward personal loans
  • Not transparent about potential loan options

See other top business loan options

Enter in some basic information about your business, including annual revenue and your personal credit score, to compare even more business lenders.

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
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Compare up to 4 providers

Is Loanry legit?

Yes, Loanry is legit. Its website is secured with an industry-standard 128-bit SSL encryption to keep your information safe.

Its privacy policy covers how that information is used — but it's not entirely positive. Loanry states that it will sell your information as a lead, and that the highest bidder may receive your information. This means you may be connected with a lender that isn't necessarily the best choice for your business.

Although this isn't an uncommon practice for a connection service, you may want to consider a direct lender to prevent the sale of your personal information.

Loanry reviews and complaints

Loanry — and its parent company Goalry — don't have pages on the Better Business Bureau (BBB) website or on Trustpilot. The lack of reviews isn't necessarily a negative, but it does mean it will be harder to know how well Loanry is able to connect you with a lender.

To make the most of its service, look up reviews for the lender you're connected with. This will help you gauge its legitimacy before you complete a full application.

How do I sign up?

Loanry has a simple one-page form, although it isn't specialized by loan type — so you don't provide any specific details about your business. And it's not on Loanry's website. Instead, you'll be redirect to Fiona's form to submit your information.

To get started, follow these steps:

  1. Visit Loanry's website, select Loan types from the menu and click Start a loan request under Business loans.
  2. Select your preferred loan amount, loan purpose and estimated credit score.
  3. Enter information about yourself, your contact details and your employment.
  4. Read Loanry's terms and conditions, privacy policy and other important documents.
  5. Click Get my offers to see what lenders you may be eligible for.

What happens after I apply?

Loanry reviews your information. If it connects you with a lender, visit the lender's website and submit a full application. From there, the lender will determine if your business qualifies for a loan.

How do repayments work with Loanry?

Because Loanry isn't a lender, you won't make repayments to it. Instead, review your lender's loan agreement to see when and how you should be sending in your repayments.

Loanry allows your business to find lenders without filling out multiple applications. But because of its limited options, you may want to compare more business loans to see what direct lenders you may be eligible to work with.

Frequently asked questions

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