My experience with Citibank in a word – ‘superior’. The process was easy and fast, because of the reliable customer support and minimal documentation.
However, your repayment term will be a short six months, and the cost of comfort is excessive: 1% to 13.5% of the loan for two months, then 1% for the following 4 months. That might imply an APR as excessive as ninety%. How lengthy you’ve been in enterprise: The longer the better. The longer track document you might have, the extra comfortable lenders will feel in loaning you money.
Most online lenders give attention to either enterprise or client lending. Those lending to small businesses might face higher risk from stacking, in part because of a separate class of excessive-danger, high-interest business lenders that actively promotes the observe. Lending Club , the nation’s largest peer-to-peer lender, began making small enterprise loans — a separate program from … Read more