Lending Crowd Business Loans
The Lending Crowd is an online marketplace where borrowers, lenders, and investors come together to make transactions. They’re a non-traditional financial institution that combines technology and financing to create a convenient process to get loans! If you’re in a rush to get a loan for your business, Lending Crowd can get you an anonymous quote in less than 2 minutes.
As they’re a non-traditional financial institution, the amount that you can borrow can be lower than what most banks offer. Lending Crowd NZ is a peer-to-peer lending platform so security isn’t required. However, you can choose to render a security to help you get the lowest rates possible.
Get fast business loan approvals with Lending Crowd and take your business to greater heights!
Why apply for Lending Crowd Business Loans?
Applying for a Lending Crowd business loan is 100% online. Interest rates are fixed so there won’t be any surprises when you make repayments. They’re transparent in everything they do. Because of this, they’ve been acknowledged by various organisations such as the NZ Herald, The National Business Review, Crowdfund Insider, and many more!
Is a Lending Crowd business loan right for you?
Lending Crowd may not be the traditional financial institution, but they still follow professional standards. They apply good management over transitions in the platform. The borrowing process may be simple and convenient, but it’s not lenient. When you apply for a business loan with Lending Crowd NZ, you need to have a business plan in mind.
If you have a good credit history, have over 18 months running your business, earn at least $80,000 in annual sales, are able to provide vehicle(s) or property(s) as security, and have full ownership of the business, then you’re qualified for a business loan with Lending Crowd.
Lending Crowd NZ Business Loans: Features
Fee and charges
Once approved, Lending Crowd can charge up to $1450 for a loan approval fee. Interest rates vary between 6.49% to 16.99% p.a. depending on your personal circumstances. An early repayment and a switching fee aren’t applicable so you can make early repayments without any charges. A platform fee between $250 to $1450 will be charged as well. Whenever it applies, 20% on top of the interest rate (loan interest rate plus 20%) is charged on overdue loans.
You can borrow any amount from $2,000 to $200,000 which you can repay in 3 years or 5 years with a weekly, fortnightly or monthly schedule.
Secured business loans
Lending Crowd only has secured business loans, placing lenders and borrowers in a safe and equal plane. Having security also increases a borrower’s chances of being funded by a lender. Lenders won’t see who borrowers are, as identities will be protected by the platform. You can use your registered motor vehicle, or a residential or business property under your name as security for the business loan.