Top 10 Credit Relief News

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LendingTree Reviews
  • EDITOR'S SCORE
  • 9.5 / 10
  • SUMMARY
  • Small Business Loans, Lines of Credit, Merchant Cash Advance

    Loans of $5,000 to $1,000,000

    Typical APRs of 6.5% to 35.99%
  • WHAT WE LIKE
  • Ranked A- by the BBB

    Funding Within 48 Hours of Approval

    No Minimum Credit Score

    $10,000 Minimum Monthly Revenue
  • BOTTOM LINE
  • LendingTree is a leading online loan marketplace with one of the largest networks of lenders in the nation. Its service provides business with a way to connect with multiple lenders for a number of financial borrowing needs. From the comfort of their offices, businesses can fill out one simple form and are able to shop, compare, and save on the financing they need.
Torro Loan Review
  • EDITOR'S SCORE
  • 9 / 10
  • SUMMARY
  • StartUp Loans, Working Capital Loans, Merchant Cash Advance

    Loans of $10,000 to $500,000

    Typical APRs of 8.99% to 35.99%
  • WHAT WE LIKE
  • Ranked A+ By The BBB

    Funding Within 48 Hours of Approval

    No Minimum Credit Score

    $20,000 Minimum Monthly Revenue
  • BOTTOM LINE
  • Torro Business Funding is Not a bank but a Alternative Financial Service Provider focused on solving cash flow and working capital needs for Small Business Clients. Torro is based in Salt Lake City Utah and have been providing business funding solutions online since 2015. You can rely on Torro to help you get the capital you need quickly and without any hassle.
Lending Club Review
  • EDITOR'S SCORE
  • 9 / 10
  • SUMMARY
  • Small Business Loans of 6 Months to 5 Years

    Loans of $5,000 to $500,000

    Typical APRs of 4.99% to 35.98%
  • WHAT WE LIKE
  • Has Facilitated Over $28 Billion in Loans

    Funding Within 48 Hours of Approval

    No Minimum Credit Score

    $4,200 Minimum Monthly Revenue
  • BOTTOM LINE
  • LendingClub is the world's largest peer-to-peer lending platform. The company raised almost $1 billion in an IPO in 2014. Lending Club Business Loans operates at a lower cost than traditional bank lending programs and passes the savings on to borrowers in the form of lower rates and to investors in the form of solid returns.
Camino Financial Review
  • EDITOR'S SCORE
  • 8.25 / 10
  • SUMMARY
  • Short Term Loan Products
    6 to 12 Month Terms

    Loans of $5,000 to $50,000

    Monthly Interest Rate Up to 2.5%
  • WHAT WE LIKE
  • Ranked A+ By The BBB

    Funding Within 48 Hours of Approval

    No Minimum Credit Score

    $2,500 Minimum Monthly Revenue
  • BOTTOM LINE
  • Camino Financial is an online business credit marketplace focused on helping small business access affordable capital. Approvals can be given in 24 hours. Compared to banks, Camino Financial has easier eligibility criteria for credit and cash flow. Camino Financial’s focus is on helping small business owners who were rejected for bank loans and need access to capital.

About business loans

What is a Business Loan?

Businesses require an adequate amount of capital to fund startup expenses or pay for expansions. As such, companies take out business loans to gain the financial assistance they need. A business loan is debt that the company is obligated to repay according to the loan’s terms and conditions. According to the U.S. Small Business Administration, before approaching a lender for a loan, it is imperative for the business owners to understand how loans work and what the lender will want to see from the owner.

How does a business loan work?How does a Business Loan Work?

Business loans give business owners access to capital to invest in their business. In the typical small business loan structure, a lender will give a business owner money, which the business owner must pay back, with interest, over a predetermined period of time. There are a variety of business loans available—from term loans, SBA loans, to business lines of credit.

Business Funding Reviews

How do I qualify for a Business Loan?

Credit Score
Lenders typically examine your personal credit report when you apply.

Age of Business
To qualify for most online small business loans, you’ll need to be in business for at least a year. Your typical bank could require you to be in business for at least two years. You can consider a startup loan if your business is less than a year old.

Annual Revenue
Lenders often require businesses to bring in annual revenues of $30,000 to $240,000.

Personal Debt Ratio
Some lenders will consider too much personal credit a risk — you could turn to that credit if your business runs out of money.

Net Operating Income
To be sure that you can meet repayment requirements, some lenders look for a total income that’s at least 1.25 times greater than your total expenses.

Potential Collateral
If you’re applying for a secured business loan, you may need to identify an asset — equipment, inventory or real estate — to back the loan against default. If you’d prefer not to provide collateral, you’ll need to compare unsecured business loans.

What is a Business Line of CreditWhat is a Business Line of Credit?

A business line of credit offers a company the flexibility to withdraw funds and repay debt when needed. A business line of credit works a bit like a credit card. Businesses can borrow up to a certain amount and only pay interest on the amount withdrawn. Then the business can repay the money as soon as they wish, without exceeding their credit limit.

What is a merchant cash advance?What is a Merchant Cash Advance?

With a merchant cash advance, businesses get a lump sum of money. However, instead of paying off the loan, the lender takes a percentage of daily credit and debit card sales or makes daily or weekly withdrawals from the business’ bank account. This loan makes sense for businesses with consistent credit and debit card sales with no other financing options.

Can a new business get funding?Can a New Business Get Funding?

The answer is YES - but it is more difficult.  As a new business, you won’t have any financial or credit history to prove to a lender that you will repay a loan. You can improve your chances by: 1) improving your personal credit; 2) putting up collateral; 3) creating a business plan; and 4) proving your experience. The right combination of these can help you secure the funding needed to grow your new business.

Companies Not Covered & Not Recommended by Top 10 Credit Relief

Sunrise Funding Group