Overview
Only a lender or lending partner can provide you with information on their specific rates and terms. This information is typically provided shortly after your loan request is submitted and you are connected with a lender or lending partner. Ilendar does not make credit decisions or determine loan rates or terms. You are under no obligation to accept a loan offer if the terms are not satisfactory to you.
Repayment on business loans is generally performed monthly or biweekly, depending on your preferences and your lender’s or lending partner’s policies. You may have the option to authorize automatic withdrawals from your bank account on agreed-upon dates. However, loan approval cannot be conditional upon repayment by electronic funds transfer or automatic withdrawal. Always read and fully understand all repayment policies. Consult your lender or lending partner for more information.
The cost of a business loan can vary significantly based on several factors, including the business’s credit profile, the state of operation, the lender or lending partner's policies, the loan amount, repayment period, and applicable interest rates. Your business and personal credit scores are key factors used to determine your loan terms.
· Loan amount: $5,000 – $500,000+
· Lending period: 3 months – 10 years
· Payment frequency: Monthly, biweekly, or weekly
· APR: Typically ranges from 6% to 35%, depending on creditworthiness, revenue, and lender criteria
· Prepayment penalty: Varies by lender; some offer no penalty for early repayment
To check the rates and terms your business may qualify for, some lenders may conduct a soft credit pull, which does not affect your credit score. However, if you choose to proceed with a lender, they may request a full credit report from one or more consumer reporting agencies. This is considered a hard credit pull and may impact your credit.
· Business loans may range from $5,000 up to $500,000+
· APR rates typically start at 6% and can go up to 35%
· Minimum repayment term of 3 months and maximum term up to 10 years
· If you borrowed $25,000 over a 24-month period and the loan had a 3% origination fee ($750), your monthly repayments might be $1,117.19, with a total repayment of $26,812.56. Including the fee, the total cost of the loan would be $2,562.56. Representative APR: 11.5%
· If you borrowed $75,000 over a 48-month period and the loan had a 5% origination fee ($3,750), your monthly repayments might be $1,935.45, with a total repayment of $92,901.60. Including the fee, the total cost of the loan would be $17,901.60. Representative APR: 13.25%
· Must be at least 18 years old
· Business must operate in the U.S.
· Minimum of 3 to 6 months of operating history
· Monthly revenue of at least $10,000 recommended
· Must have a U.S. business bank account
We will never initiate calls requesting money or gift cards from customers.
The operator of this website is not a lender, financial institution, loan broker or agent of a lender or broker. Ilendar collects business information provided by you and uses that information to connect you with third-party business lenders and non-lenders in our network. Your information may also be shared with non-lender service providers to facilitate matching with appropriate loan offers.
We offer this service free of charge and may receive compensation from lenders or service providers for referrals. Not all applicants will qualify, and loan offers may differ from your expectations. Lenders may perform credit checks and verify the information provided. Always review terms carefully before proceeding with any loan. Business financing is not a long-term solution to financial difficulty. Consider professional advice before taking a loan product.
Our Terms & Conditions outline the rules for using our platform. Learn more about our approach to ethical lending in our Lending Policy. For details on how we handle your data securely, please review our Privacy Policy and Credit Authorization agreements.
If you wish to opt-out of data sharing or marketing, refer to our Do Not Sell My Personal Information and Unsubscribe pages.
