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Cheapest $25,000 Personal Loans For Good & Bad Credit

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PrimeRates provides access to personalized loan offers through our simple and quick pre-qualification application. Once you're pre-qualified, you can select the best offer for you and finalize the loan application with the lender.

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Best Personal Loans For $25k and Above

A personal loan of up to $25,000 can be used to finance emergency expenses, vehicle down payments, major home repairs, medical expenses or consolidate debt. Because this is a mid-sized personal loan, it’s easier for borrowers who fall short of having excellent credit to qualify than with a larger loan.

What is an LLC business loan?

In simplest terms, an LLC business loan is essentially a partnership that can deliver cash quickly. Online lenders can match business owners and help them grow, manage, or start their business.

How do you apply for a LLC business loan?

You have a few options when it comes to applying for an LLC business loan including:

  • Local bank
  • Local credit union
  • Online lender
  • Small Business Administration (SBA)

What documentation is needed to apply?

Similar to most business loans an LLC business loan typically requires documentation including:

  • Proof of business activity
  • Credit check
  • Verification of ownership
  • Financial statements
  • Potential business identification numbers

Who is eligible to apply for an LLC business loan?

If you can provide the documentation listed above you may be eligible for an LLC business loan. In addition, you must be a registered business for a minimum of 4 months and have an active business bank account.

Best Options for Financing Your LLC

Personal Loans

There are many ways you can obtain a personal loan to grow or launch your LLC, thus making it a competitive option.

Pros

  • Personal loan has many uses
  • No collateral needed
  • Loan amounts from $1,500 – $100,000
  • Reasonable rates
  • Available for most credit types

Cons

  • Fixed payment
  • Origination fees can apply
  • Prepayment penalties can apply

LightStream

LightStream offers competitive financing options for LLC business loans. They are a credible national lender that operates online as a division of SunTrust Bank.

Pros

  • Rate beat program
  • No fees
  • Low interest rates
  • Quick funding
  • Borrow from $5,000 to $100,000
  • Terms range from 24 to 144 months

Cons

  • Hard pull required
  • Seeks good credit candidates

LendingClub

LendingClub offers peer-to-peer lending options with fast approval and reasonable interest rates. Peer-to-peer lending connects people with money to people who need to borrow money.

Pros 

  • Clear terms
  • Quick online pre-approval
  • Competitive interest rates
  • Terms range from 36 to 60-months

Cons

  • Application process may require copies of tax documentation
  • Passes accounts into collection quickly after missed payment
  • Unsecured loans only

SoFi

Working with SoFi can be an attractive option for an LLC business loan if you have good credit.

Pros 

  • No fees
  • Terms range from 2 to 7 years
  • Fixed or variable APR offered
  • No collateral required
  • Borrow from $5,000 to $100,000
  • Low interest rates

Cons

  • Better for good credit borrowers
  • Strict approval terms
  • Hard credit pull
  • Slower funding

Prosper

In 2006, Prosper was one of the first companies to introduce marketplace lending and is still thriving with their model today. Prosper has funded over $5 billion in loans and targets people with fair to excellent credit.

Pros 

  • No prepayment fees
  • No collateral required
  • Fixed interest rates
  • Low interest rates
  • Borrow from $2,000 to $35,000

Cons

  • Requires minimum FICO score of 640 for approval
  • Only 3-year and 5-year terms offered
  • Origination fee
  • Not a direct lender

UpStart

Similar to LendingClub, UpStart is a peer-to-peer lending company that can provide financing for LLC business loans. UpStart may be a good choice for applicants with little to no credit history, steady income, and quality education.

Pros

  • Maximum loan term of 5 years
  • Competitive interest rates between 9.57 percent and 29.99 percent
  • Fast approval and funding process
  • Loans range between $1,000 and $50,000

Cons

  • Minimum credit score 620
  • Unsecured loans only
  • Loan origination fee of 1 to 6 percent

PrimeRates Lender Partner Network

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DISCLAIMER
Information used in this tool has been gathered from the lenders’ websites and others publicly available sources. While we do our best to ensure our information is up to date and calculations are accurate, all information is presented without warranty. If you find information or calculations you believe to be in error, please contact us. Estimated interest rate, APR, and other terms are not binding in any way. Your actual interest rate and APR will depend on factors like credit score, requested loan amount, loan term, and credit history. Only borrowers with excellent credit will quality for the lowest rate. All loans are subject to credit review and approval by our lender partners. When evaluating offers, please review the lender’s terms and conditions for additional details.

The operator of this website is not a lender, does not broker loans to lenders and does not make personal loans or credit decisions. This website does not constitute an offer or solicitation to lend. This website will submit the information you provide to a lender. Providing your information on this website does not guarantee that you will be approved for a personal loan. The operator of this website is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product.

ADVERTISER DISCLOSURE
The offers that appear on this site are from third party advertisers from which PrimeRates receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). PrimeRates strives to provide a wide array of offers, but our offers do not represent all financial services companies or products.

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