In a Nutshell
pros
- Over 92% approval rate
- Web development services to help a business get online
cons
- No detailed breakdowns on potential loans
- Rates and terms not featured online
Startup Loan Experts at a Glance
Startup Loan Experts is devoted to helping new companies acquire funding from lenders, through consulting them on ways to prepare their application to maximize their chances of success. Startup Loan Experts performs financial assessments of companies in order to determine the type of funding they can receive and how to increase their likelihood of funding, and provides dedicated loan professionals to assist customers in the process. Startup Loan Experts also assists customers in setting up the logistics of a new company, including permits and licensing, and helps formulate business development plans.
- Can provide funding estimates within 2 hours
- No restrictions placed on how customers use funding
- Over 92% funding approval rate
- Flexible funding range from $5,000-$500,000
- Easy and quick online application customers can complete on computer or mobile device
Suitable for ?
Startup Loan Experts is recommended for new businesses that need funding and aren’t sure how to navigate the loan application process. The company can provide actionable plans for customers who are looking to get a new business off the ground but need a loan to make it happen and don’t want to waste time filling out applications only to get rejected. Banks can often be reluctant to provide funding for new businesses that don’t have an established history, and owners can certainly use some help with the process of obtaining funding.
Loan Features
Startup Loan Experts doesn’t provide any loans of its own, but can facilitate loans with a wide range of lenders in the company’s network. The company uses their connections and expertise with the lending world to help get customers’ applications approved and shops around with a variety of lenders in order to find the most favorable loan terms. The company also puts a premium on speed, with loan estimates provided within hours and actual funds within a matter of 1-3 weeks.
- No hidden fees
- Simple, quick application process with speedy approval
- Wide range of lenders
Pros and Cons
The Application Process
Users can apply for a loan through Startup Loan Experts from the comfort of their home through a simple three-step online application. The customer first fills out a basic online form about their business and its capital needs.
Shortly thereafter, the customer will receive a funding consultation call from a company representative, who will interview them further about their funding needs. The company states that within 2 hours of the phone call the customer will receive a funding estimate that includes the total of the loan and the terms of the loan.
If the customer agrees to the terms of the loan, Startup Loan Experts then begins shopping the proposal to different lenders until one is found that fits the bill. The company states that funding is typically received within 1-3 weeks from the time the funding estimate is received by the customer.
The entire process is paperless and performed almost entirely online.
How Much Can You Borrow?
Startup Loan Experts can help facilitate loans for customers of between $5,000-$500,000 and does not put any restrictions on how a customer uses the funds for their business. The company facilities unsecured loans, and a lack of collateral, as well as a less than ideal credit rating, are not deal-breakers for customers looking to receive a loan through the company.
Startup Loan Experts works on a “holistic view” of your company and its potential to be economically sustainable, rather than focus solely on your credit rating. Customers are interviewed by the company and required to submit a business plan and relevant business documents so that the company can formulate how to get them the money they need.
Repayment Terms
Repayment terms are one of the key features of Startup Loan Experts. During the introductory period, usually 12-18 months, the minimum monthly repayment amount is 2% of the total funding amount, meaning if you receive $50,000 in funding, the total monthly payback is only $1,000.
Privacy & Security
The company has a privacy policy that users agree to when they sign up to use the service. The company has the right to gather anonymous data including the IP of the user’s company as well as information provided by cookies. The company states that all information exchanged between its servers and users’ web browser is encrypted with SSL technology, and the company uses firewalls and other security measures. The company states that no sensitive or financial information is shared with third parties and that the entire application process is secured.
Help & Support
Startup Loan Experts doesn’t have very extensive customer service options and the company website doesn’t provide in-depth details about what the company offers and at what terms, nor is there an FAQ section or knowledge base.
Customers who are looking to contact the company must fill out an online form or call a toll free number or send an email. There is no live chat option.
Summary
Startup Loan Experts is a one-stop shop for new businesses who want to get a company off the ground but need funding and some help receiving it. The company provides consultation on how to apply for a loan and organize your documents in order to maximize your challenges, and can also walk a company through the process of opening a business and establishing a web presence. The company advertises that bad credit or a lack of collateral don't need to be deal breakers.
Physical Address
14545 Victory Blvd. #612
Van Nuys, CA 91411
