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$1,000
Min. Amount
$100,000
Max. Amount
Product Name | Loanry business loans |
---|---|
Min. Amount | $1,000 |
Max. Amount | $100,000 |
Loan Term | 24 to 84 months |
APR | Starting from 4.99% |
Requirements | No set requirements |
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.
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.
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.
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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.
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.
Loanry requires you to submit a few basic pieces of information, including:
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.
Before signing up with Loanry, consider the benefits and drawbacks of using this connection service.
Enter in some basic information about your business, including annual revenue and your personal credit score, to compare even more business lenders.
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 — 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.
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:
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.
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.