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  1. #1
    Member Reputation points: 895
    Join Date
    Feb 2020
    Location
    Anaheim, CA
    Posts
    85

    Cool LoanMe is open and funding! Now performing a Soft Pull during pre-qual

    LoanMe is open and actively funding files!

    We're also now performing a soft pull during pre-qual so your borrowers can find out what they qualify for without an adverse impact to their credit score.

    Not familiar with our basic borrower requirements? Here you go:

    • No industry restrictions, sole prop OK; LoanMe can work with any for-profit business.
    • 90 days in business
    • 90 days of funding/seasoning in business bank account
    • Any valid FICO return (scores of 600+ encouraged for stronger pre-approval)
    • 25% business ownership



    Not familiar with what sets LoanMe apart from an MCA? Here you go:

    • Loan sizes from $3500-$250K
    • Interest rates from 14.9-159%
    • 24-120 month term
    • Monthly payment
    • No early repayment penalty



    The data shows us that a LoanMe borrower will qualify for a loan size 2X greater than an MCA.

    Want to learn more? E-mail business.loans@loanme.com with "Hey Joel!" in the subject and we'll get the conversation started.

    If you're an existing partner and you're ready to submit files give us a shout and make sure you can access your new, Salesforce based partner portal!

    Cheers!
    Joel S Galasso
    Senior National Accounts Manager
    Small Business Loans
    Main: 949-535-7798 | business.loans@loanme.com

    1900 S. State College Blvd. Suite 300 Anaheim, CA 92806

  2. #2
    Senior Member Reputation points: 18402
    Join Date
    Apr 2014
    Posts
    781

    Quote Originally Posted by LoanMe_JG View Post
    LoanMe is open and actively funding files!

    We're also now performing a soft pull during pre-qual so your borrowers can find out what they qualify for without an adverse impact to their credit score.

    Not familiar with our basic borrower requirements? Here you go:

    • No industry restrictions, sole prop OK; LoanMe can work with any for-profit business.
    • 90 days in business
    • 90 days of funding/seasoning in business bank account
    • Any valid FICO return (scores of 600+ encouraged for stronger pre-approval)
    • 25% business ownership



    Not familiar with what sets LoanMe apart from an MCA? Here you go:

    • Loan sizes from $3500-$250K
    • Interest rates from 14.9-159%
    • 24-120 month term
    • Monthly payment
    • No early repayment penalty



    The data shows us that a LoanMe borrower will qualify for a loan size 2X greater than an MCA.

    Want to learn more? E-mail business.loans@loanme.com with "Hey Joel!" in the subject and we'll get the conversation started.

    If you're an existing partner and you're ready to submit files give us a shout and make sure you can access your new, Salesforce based partner portal!

    Cheers!
    250 percent??

  3. #3
    Senior Member Reputation points: 46943 JasonBishop's Avatar
    Join Date
    Jun 2018
    Location
    Orlando, FL
    Posts
    191

    Quote Originally Posted by golf2014 View Post
    250 percent??
    Golf.gif

  4. #4
    Member Reputation points: 895
    Join Date
    Feb 2020
    Location
    Anaheim, CA
    Posts
    85

    ...
    Last edited by LoanMe_JG; 07-06-2020 at 01:24 PM. Reason: Mistake
    Joel S Galasso
    Senior National Accounts Manager
    Small Business Loans
    Main: 949-535-7798 | business.loans@loanme.com

    1900 S. State College Blvd. Suite 300 Anaheim, CA 92806

  5. #5
    Member Reputation points: 895
    Join Date
    Feb 2020
    Location
    Anaheim, CA
    Posts
    85

    Quote Originally Posted by golf2014 View Post
    250 percent??
    Right back at you: 250 percent? Not sure I follow, re-read my post and didn't catch 250% anywhere. Let me know what you're referring to and I'll address properly. Hope you had a great 4th of July!
    Joel S Galasso
    Senior National Accounts Manager
    Small Business Loans
    Main: 949-535-7798 | business.loans@loanme.com

    1900 S. State College Blvd. Suite 300 Anaheim, CA 92806

  6. #6
    Our funding percentages have gone up 335%!
    If you aren't signed up and submitting to LoanMe Official; why aren't you?!!! No better time then NOW! #dontleavemoneyonthetable
    Elizabeth Peters
    LoanMe Small Business Loans
    (949) 535-7798

    Your home for payment loans
    1900 S State College Blvd. Suite 300 Anaheim, CA 92806
    www.loanme.com/smallbusiness

  7. #7
    Senior Member Reputation points: 4936 HFS's Avatar
    Join Date
    Sep 2015
    Location
    FL
    Posts
    180

    ONLY negative i see with loan me is that they will offer your merchant a cash advance if they do not qualify for their great montly program.

  8. #8
    LoanMe only offers simple interest term loans, no cash advances. The closest thing we have to an MCA is our fixed payback product - see link to our website product listing here; https://www.loanmebusiness.com/products

    Thanks
    Jack Malone
    National Accounts Manager
    Office: 949-535-7798
    Direct: 949-535-7203

    Your home for Monthly payment loans

    1900 S State College Blvd. Suite 300 Anaheim, CA 92806
    www.loanme.com/smallbusiness

  9. #9
    Member Reputation points: 895
    Join Date
    Feb 2020
    Location
    Anaheim, CA
    Posts
    85

    Quote Originally Posted by HFS View Post
    ONLY negative i see with loan me is that they will offer your merchant a cash advance if they do not qualify for their great montly program.
    To echo my coworker Jack Malone, we absolutely do not take part in this practice. We are a direct lender, not a funder, and we only offer monthly payment loan products.

    The closest thing we have to an MCA is our Fixed Payback Loan which is structured to be an MCA look alike via a larger origination fee w/no interest assessed. Even that product carries a monthly payment though, and we seldom utilize said product with our borrowers.

    If you'd like to discuss this further please give us a call at 949-535-7798.

    Thanks.
    Joel S Galasso
    Senior National Accounts Manager
    Small Business Loans
    Main: 949-535-7798 | business.loans@loanme.com

    1900 S. State College Blvd. Suite 300 Anaheim, CA 92806

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