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
