We make applying for a LoanMe Small Business loan easy. Our application process is online, paperless, and is available 24/7.
25% ownership of the for-profit business, 90+ days with income
Must have business bank account in the name of the business
Must give Authorization to Obtain Credit Report
Must be 18+ years of age
Drivers License, Valid ID or US Passport, Voided Check†
* Required for Online Application † All other documents may be requested by a loan agent after the online application is completed for loan approval & verification.
24/7 + Instant Online Decision
Funds are wired in as fast as a day!
Plus, only pay interest for the days that you borrow.
We provide you with low monthly payments by providing long term loans with fixed monthly payments. See everything up front, NO hidden fees. Best of all, you can prepay at any time without a penalty. We are here to help for-profit businesses that don’t qualify for traditional loans, that have urgent short-term cash needs, or are trying to rebuild credit by responsibly paying of loans.
| Loan Size | $3,500 – $250,000 Minimum Loan Amount Varies by State |
| Term | 2 years to 10 years |
| Origination Fee | 5% to 10% with minimum of $500 (lower fees for 2nd loan) |
| Rate | 14.9% to 159% |
| Payment | Monthly |
| Prepayment | You can prepay your loan at any time with no penalty |
| Collateral | No collateral required* |
| Purpose | Can be used for nearly any business purpose |
| Taxes | Financing fees and interest may be tax deductible |
*UCC filed on LoanMe Prime Business Loans only.
| Loan Size | $15,000 |
| Origination Fee | 10% of $15,000 = $1,500 |
| Total Funds Wired | $13,500 |
| Interest Rate | 54% |
| Terms of the Loan | 120 Months |
| Minimum Monthly Payments | $678.45 |
Scenario AEMERGENCY / URGENT NEED |
|
| Time to Payoff | 10 Days |
| Total Payments | $15,225.00 |
| Total Financing Costs (Including Fee) |
$1,725.00 |
| Total Financing Costs (as % of Funds Wired) |
12.78% |
Scenario BOPPORTUNITY / SHORT TERM NEED |
|
| Time to Payoff | 6 Months |
| Total Payments | $17,449.05 |
| Total Financing Costs (Incl. Fee) |
$3,949.05 |
| Total Financing Costs (as % of Funds Wired) |
29.25% |
Scenario CNOT RECOMMENDED / LONG TERM NEED |
|
| Time to Payoff | 120 months* |
| Total Payments | $81,413.75 |
| Total Financing Costs (Incl. Fee) |
$67,913.75 |
| Total Financing Costs (as % of Funds Wired) |
503.06% |
|
*Pay Minimum Monthly Payments for Full Term of Loan. **We suggest you pay off early, even though you can keep the loan for 120 months. |
You can apply for LoanMe’s Small Business Loans via our website or by contacting a LoanMe loan representative by phone.
Our paperless online application process is available 24/7.
Apply online 24/7 or by phone at (844) 218-3872, to get an instant decision.
Review the amount of money you qualify for and the costs. Need help understanding and comparing costs? Call us at (844) 218-3872.
Submit a voided check, bank statements, and a valid Drivers License, ID or US Passport.
Once you review the loan agreement and accept the terms, funds are wired out the same day.*
*Wires are sent out by 5:30pm EST Monday-Friday. The funds should appear in your account shortly thereafter, however this is subject to your bank’s policy and procedures with receiving incoming wires.
Still have questions? Visit our Frequently Asked Questions page.
