Some lenders require borrowers to have been in business and profitable for at least a year or more, which cuts out businesses that are just getting started. We thought dividing the reviews would help business owners navigate the category easier.
Burlingame, CA (PRWEB) September 08, 2015
NextAdvisor.com, a leading consumer and small business information website, announced today the launch of its new small business loans category, providing in-depth, independent reviews and comparisons of the best small business loan services. NextAdvisor’s editors analyzed and reviewed 10 of the leading providers of direct, online small business loans to determine which are best for new as well as established small businesses, and what borrowers can expect from each. Services reviewed include Lending Club, StreetShares, Fundation, Funding Circle, OnDeck, Dealstruck, Prosper, Upstart, CircleBack Lending and LoanMe, with Lending Club taking top honors for both new and established businesses.
With traditional banking losing its appeal and small businesses finding it harder to jump through the hoops required to take out a loan, many are turning to direct lenders online. Small business loan services offer a quick, simple borrowing experience with limited paperwork and fast turnaround. Whether entrepreneurs are just getting started or have been profitable for several years, many small business owners can benefit from the ability to get money to put toward their business’ needs almost immediately.
Although editors did not actually take out a loan with any of these services, they were able to gauge the service on factors including the ease of the application process, navigability of the website, customer service as well as any and all fees borrowers might come across to come up with an overall ranking. Also considered were the qualifications a small business must meet in order to take out a loan with each service. Because some of these services require certain qualifications for each business, the editors opted to split the category between loans for new business and loans for established businesses.
“Some lenders require borrowers to have been in business and profitable for at least a year or more, which cuts out businesses that are just getting started,” said NextAdvisor writer Jocelyn Baird. “We thought dividing the reviews would help business owners navigate the category easier.”
This category complements the preexisting personal loans category, given that many of the same services offer loans to small business users. The new research will be added to NextAdvisor’s small business resource center, where readers can find reviews and comparisons of services ranging from cloud storage to business credit cards.
You can read NextAdvisor’s full small business loan reviews here: http://www.nextadvisor.com/small_business_loans/index.php
NextAdvisor.com provides independent reviews of online services for consumers and small businesses. The company's mission is to help its visitors save money and make optimal buying decisions by presenting them with useful comparisons and reviews of service providers and a clear explanation of each service and how it works. The company currently reviews, compares and explains many different types of services including credit cards, credit report monitoring, web hosting, online backup, Internet fax, VoIP, and identity theft protection.