LLC Business Loans Review


What is LLC Business Loans?

Launched in 2016, LLC Business Loans is a New York-based financing firm that matches business owners with lenders in its network. It is not a direct lender. Instead, lenders pay the company a fee for finding loan applicants. LLC Business Loans advertises a variety of no-money-down loan programs for borrowers, regardless of their credit history.

There is very little available online about LLC Business Loans. The company is not listed in the New York State’s corporation and business entity database. However, the website domain name is registered under Otto NYC LLC, which is listed in the state corporate and entity database. Although the registered agent of Otto NYC LLC confirmed it owned LLC Business Loans, attempts to get more information about the lender were unsuccessful.


Lender highlights

LLC Business promises a speedy application process, access to funding within 24 hours and no applicant fee or down payment. It caters to small business owners with less-than-perfect credit who need access to capital fast and might not qualify for funds from a traditional bank.

It’s difficult, however, to obtain details on the company’s lending products — such as interest rates, fees and repayment terms — from its website without submitting a request for a quote online. The toll-free number listed on its site is either busy or has an automated message stating the number isn’t in service.


What LLC Business Loans offers

LLC Business offers access to 10 lending products designed for small business owners with blemished credit and who need cash fast:

  • Startup loans. These loans are designed to help you get your business off of the ground.
  • Small business loans. Borrowers can refinance for access to more capital.
  • Short-term loans. These loans offer early payback options.
  • Online loans: You can get up to $100,000 immediately.
  • Installment loans. These loans offer small, structured payments — and you can reschedule your loan to get additional capital. You can also have payments auto-debited from your business bank account.
  • Equipment financing. This option allows you to finance equipment purchase or lease.
  • Cash loans: These loans’ repayment terms are set to work with your schedule.
  • Cash advance: These are not loans. Instead, they are the purchase of future receivables — and they are typically much more expensive than traditional loans.
  • Bad credit loans: Flexible payment and refinance options are also available.
  • Women-owned businesses loans: These loans offer up to $200,000 in immediate financing, plus long- and short-term financing options for up to 36 months.
Loan product Loan amount Loan term APR range/ factor rate Fees Time to funding
Startup Loans $1,000 to $100,000 Flexible long- and short- payment terms Low rates Not provided by the lender Not provided by the lender
Small Business Loans $10,000 to $1,000,000 Flexible long- and short-payment terms Not provided by the lender Not provided by the lender Not provided by the lender
Short-term Loans $10,000 to $500,000 Short-term Not provided by the lender Not provided by the lender Less than 24 hours
Online Loans $10,000 to $500,000 Not provided by the lender Not provided by the lender Not provided by the lender Within 24 hours
Equipment Financing $10,000 to $1,000,000+ Monthly, multi-year terms Not provided by the lender Not provided by the lender Not provided by the lender
Cash Loans $5,000 to $500,000 Not provided by the lender Not provided by the lender Not provided by the lender Not provided by the lender
Cash Advance $5,000 to $250,000 Flexible Not provided by the lender Not provided by the lender Not provided by the lender
Bad Credit Loans $5,000 to $250,000 Not provided by the lender Not provided by the lender Not provided by the lender Not provided by the lender
Women-owned Businesses Loans $10,000 to $1,000,000+ Long- and short-term financing options up to 36 months Not provided by the lender Not provided by the lender Not provided by the lender

Rates current as of 7/6/2018


Eligibility requirements

Loan product Annual revenue Min. business credit score or personal credit score Time in business
Startup Loans Not provided by the lender 575 4 to 5 months
Small Business Loans Not provided by the lender 590 4 to 5 months
Short-term Loans Not provided by the lender 520 4 to 5 months
Online Loans Not provided by the lender 565 4 to 5 months
Installment Loans Not provided by the lender 525 4 to 5 months
Equipment Financing Not provided by the lender 585 4 to 5 months
Cash Loans Not provided by the lender 550 4 to 5 months
Cash Advance Not provided by the lender 550 4 to 5 months
Bad Credit Loans Not provided by the lender 500 4 to 5 months

Additional eligibility factors

LLC Business Loans requires borrowers to have a registered business with tax ID number and an active business bank account.


How to apply for LLC Business Loans financing

You can apply online, by phone or via the LLC Business Loans app. The online application asks for the following information (some loan programs might require more documentation):

  • Your name and contact information
  • Business name
  • Business type
  • Loan type, term and amount
  • Whether the loan is for starting a new business
  • If you have filed for bankruptcy in the last 10 years
  • If you are paying off another loan

Pros/Cons

Pros Cons
 Quick application process   Limited information available online
  Fast approval   Toll-free number is either out-of-service or busy
  Bad credit OK   Little information about company available on site or elsewhere

Who is the best fit for LLC Business Loans?

LLC Business Loans may be a great option if you have poor credit and your business is less than a year old.


Fine print

If you pay off your loan early you will not be penalized. You can also restructure your credit to extend the term.

Payments are debited monthly from you business account through the Automated Clearing House (ACH) Network, which facilitates electronic financial transactions.


The bottom line: How LLC Business Loans stacks up

LLC Business Loans sounds like a viable option for newer businesses whose owners have little to no credit and need quick access to funds. But it’s hard to gather any information on this company, which might leave some business owners feeling uneasy.

LLC Business Loans site advertises great “low rates” and “flexible long and short payment terms” but doesn’t provide actual figures. The site also doesn’t list any origination or late fees. The toll-free number advertised on the site — 855-885-7656 — is either busy or you’ll get an automated message saying the number is no longer in service.

This makes it difficult for potential borrowers — who don’t want to request a quote first — to compare LLC Business Loans’ options with other lenders’. As always, shop around and read the fine print carefully before you sign on the dotted line.