Most business loans are too restrictive, take too long, are extremely expensive, or are insufficient in serving all the financing needs of a business. Unlike merchant cash advances and marketplace lenders, LQD delivers the capital our customers need to actually advance their businesses, and is the only business financing company that can soundly underwrite at scale without sacrificing speed, affordability, or quality. Additionally, because of our ability to lend higher principal amounts with lower rates and longer terms, as well as our ability to uniquely structure each loan individually, we deliver the most all-around value to our customers.
LQD has the broadest range of financing opportunities and is the only business finance company that can design a solution based off of your desired terms, which will ultimately deliver the most value to you and your business.
While banks offer the lowest rates, they reject over 85% of loan applications and typically take 2-3 months just to consider an application. Additionally, banks are very restrictive and do not provide financing to businesses without collateral.
While merchant cash advances (MCAs) are fast, they are also extremely expensive: sometimes over 80% APR. MCAs are also very restrictive, offering only low principal amounts to be paid back in a very short term. MCAs are great for the MCA companies, but are the worst value for your business.
While online peer-to-peer lenders (P2Ps) are convenient and cater to a range of different credit risk, they are very limited with respect to financing options and principal amount. Also, P2Ps base their underwriting decisions primarily on the owner’s personal credit, which may further restrict some businesses’ options.
|APPROVAL RATE||> 80%||< 15%||> 85%||< 60%|
|PRINCIPAL||Up To $2M, determined by assets, cash flows, and future cash flows, as well as the terms that work best for you and your small business.||Up to $10m, determined by collateral value and debt-service coverage ratio.||Up to $500k, determined primarily by credit card sales/accounts receivable.||Up to $300k, determined primarily by owner credit.|
|RATES||15% - 25%||< 10%||40% - +80%||6% - 40%|
|TERM||6 Months - 4 Years||1 - 5 Years||< 1 Year||1 - 5 Years|
|PROCESS||7 - 10 Days||3 Months||1 - 5 Days||2 Weeks|
|FEES||1% - 3%||1% - 3%||5% - 15%||3% - 6%|
|People||Trusted business partners||Corporate bankers||Paid brokers||Online profiles|
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