LoanMe Small Business Loans Review

Rating: 8.9 / 10 (Excellent)
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How is LoanMe rated?
Loan Amounts
Interest Rates
Loan Types

LoanMe, Inc. is an alternative lender based in Anaheim, CA. LoanMe Small Business provides funding as little as 4 hours from the application, and accepts all types of for-profit businesses including sole proprietors. The loan program is very flexible as it provides loan term up to 120 months with one affordable Monthly payment, and the  borrower can pay off the loan at any time without any prepayment penalty. Since inception in 2014, LoanMe Small Business has provided over 5,000+ clients with working capital solutions.

Features and Services

LoanMe gives small businesses quick access to much needed funds. This is available for businesses who are having difficulty qualifying for traditional loans. Its loans are ideal for businesses suffering from cash shortage or in the process of credit rebuilding.

LoanMe offers small businesses loans from $3,500 to $250,000. Loan amounts may vary according to state. Pre-qualifying for a loan requires applicants to submit 3 documents and with zero collateral in most programs. It usually takes 5 minutes for a conditional approval and the funds can be wired as soon as 4 hours from the time of the application.

Once a borrower submits the necessary requirements, a conditional approval may be given prior to the review of the documentation.  The 4-hour funding time depends on the time from final approval. Assessment is done upon the receipt of all required documents and signing. LoanMe may ask for credit underwriting and additional documents which also affects funding time.

Minimum requirements for borrowers include a personal credit score of 500, bank account in the name of their business and in limited cases, business that has not generated revenue. Loan terms range anywhere from 6 months to 10 years. Funds can be used for any business-related purpose with payments due every month. LoanMe charges an origination fee of 3% to 15% which is included in the loan amount.  

Plan Details

Loan Amount

$3,500 to $250,000

Loan Terms

2 years to 10 years

Interest Rates

24% to 149%

Fixed Interest Rates

Variable Interest Rates

Down Payment

Loan Fees

Closing Cost



Personal Guarantee

Other Fees

Prepayment Penalty

Loan Application

Online Application

Personal Credit Profile

Business Credit Profile

Approval Time

5 minutes to conditional approval

Local Branches

Available Nationwide

Application Time


Mobile App

* Application process takes 5 minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Two hour funding time is based on the time from final approval following receipt of all required documents and signing, prior to 1 PM PST on a business day. In some cases, credit underwriting and due diligence may require additional documents, which can delay funding time.


U.S. Citizen

Qualified even with bad credit

Personal credit of 500+


✔ ok if discharged

Years in Business

At least 2 months in business with income

Help and Support Services

Email Support

24 Hour Telephone Support

Live Chat


Small Business Loans at LoanMe

Businesses searching for small business loans and who fail to qualify for bank loans can find LoanMe to be a good alternative to traditional loans. It’s simple application and quick loan approvals gives businesses quick access to funds. 5 minute application with instant pre-qualification decision, 500 minimum credit score, 2 hour fund transfers and up to $250,000 in loans are just some of the factors that makes LoanMe a good choice for small business loans.

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