Businessloans.com Business Loans Review

Overview

BusinessLoans.com was founded to make the process of securing a business loan much quicker, easier, and more reliable. Once you fill out a quick and simple questionnaire that takes just minutes to complete, you’ll be able to see and compare loans from multiple providers to find the right deal for you. You will need to apply for the loan itself through your selected provider, as BusinessLoans.com doesn’t actually provide loans itself, but acts as a useful portal to find and access suitable loan offers.

Why BusinessLoans.com Is Good For Your Business

BusinessLoans.com is great for busy business owners who want a quick and easy way to find and compare multiple loan offers from different providers. With BusinessLoans.com, you won’t need to spend lots of time completing quote requests for all the different lenders out there. It can help you find a variety of loan types, whether you’re looking for capital to fund an expansion, buy equipment, or cover short-term costs.

Loan Features

BusinessLoans.com doesn’t offer its own loans, but allows you to compare across multiple providers. The key loan types available to compare include short and long-term loans, lines of credit, and merchant cash advances.

• Short-term business loans: These usually come with a repayment term of one or two years. They are useful for raising working capital, buying inventory or equipment, or marketing.

• Long-term business loans: These are usually repaid over 5-10 years or even up to 20. They may be more suitable for a larger investment.

• Lines of credit: These are suitable for when money is needed on-demand, up to a fixed limit.

• Merchant cash advances: Unlike a loan, a cash advance doesn’t usually have a set term or interest rate. The whole amount must be repaid, and is usually repaid using a percentage of future sales or deals. This can make repayments more affordable.

Application Process

To view a range of quotes on the BusinessLoans.com website, you need to fill out the online questionnaire, which takes just a few minutes. You’ll need to input a few details about your business, such as your revenue, the amount deposited into your business account in the last month, what you want to use the funds for, and when you need the money. BusinessLoans.com then presents a range of options to compare and choose from.

To get your business loan, you will need to apply through the relevant provider. In the majority of cases, you will receive your funds within one week, and sometimes you can get money in as soon as a day.

How Much Can You Borrow?

BusinessLoans.com lets you compare loans from $10,000-$3,000,000. How much you can borrow will depend on your business circumstances and credit profile.

Repayment Terms

The exact repayment terms and APR will depend on the loan offer you select.

How Safe Is It?

All information you provide to BusinessLoans.com will be stored on secure servers and encrypted using SSL to keep your private information safe, although the company doesn’t give any more details about the precise level of server security. The company also maintains a comprehensive privacy policy with full details of how your information will be used by them. This goes into more detail about how they will use your personal data to improve your experience on the site, but they won’t disclose identifying information to third parties without your consent or outside the main function of the site. You are able to access and correct your personal information when needed.

Help & Support

The BusinessLoans.com website has a range of helpful information, including a brief FAQ and some more in-depth guides to help you through the process of getting your business loan. The contact details for customer support are not immediately obvious on the website, although a support email address (support@businessloans.com) can be found in the privacy policy. If you need urgent help from BusinessLoans.com, it may be difficult to find it.

Summary

If you’re a busy entrepreneur or leader, BusinessLoans.com could be a great way to quickly source and compare business loan offers. The online questionnaire takes minutes, and you’ll then be able to find the right loan offer for you before applying through the provider’s website. Although this is an extra step to complete, you’ll save time overall by seeing all the offers in one place.

Plus, you can use the useful guides on the BusinessLoans.com website to learn more about taking out and using a loan. It’s a shame customer service details aren’t immediately obvious on the site, but this is a small criticism of a site that can save you lots of hassle in searching for the right business loan.

Physical Address

SSBV LLC c/o The Corporation Trust Co.

Corporation Trust Center 1209 Orange St.

Wilmington, Delaware 19801