Ledgers Partners with Lending Loop

Ledgers Partners with Lending Loop

It’s a common problem – you need a new piece of equipment, additional inventory, building renovations or just working capital and the banks will not help.

We see it every day. So what do you do? Turn to family? Friends? That can be disastrous!

We have been working diligently on finding a solution for our clients and are pleased to announce our Partnership with Lending Loop®, an innovative and alternative source of funding for small business.

Lending Loop is Canada’s first regulated Peer-to-Peer Lending Platform focused on small businesses.

With a network of over 9,900 active lenders, Lending Loop has lent more than $51 million to Canadian small businesses.

Borrow amounts from $1,000 to $500,000 to help build your business in whatever way you need, with no early repayment penalties.

Terms range from 3 months to 5 years, so you can borrow from Lending Loop to bridge the time it takes to get traditional financing.

Interest rates vary and start as low as 5.9% if your business has good credit and is in good shape; for others, interest rates will be higher.

Ledgers partners with Lending Loop to offer alternative financing options for small business. When the banks say no, Lending Loop says yes.

The application process is quite simple;

  • Contact Ledgers at
  • 1-855-LEDGERS or clientcare@ ledgers.com
  • Complete a simple questionnaire
  • Provide some Financial Information

Ledgers professionals will take it from there.

You will have a preliminary approval in a little as 48 hours, and can have your funds a few days after that.

To speed up the application process, have the information we need ready, which includes:

  • Most recent year-end Financial Statements and Tax Returns
  • Current year Accounting Software Backup
  • Corporate Profile Report, including Shareholders and Directors
  • 6 Months of most recent bank statements

There are of course some qualification criteria which include:

  • Incorporated or a Partnership
  • In business for more than 1 year
  • Annual Revenue in excess of $100,000
  • Credit Score of 600 or higher.

Yes, Lending Loop is an alternative lending option and the rates may not be as good as you can get from your bank or credit union, but, their rates will get you the funds you need at rates that are much lower than you

will get from factoring your sales or from Private Lenders or Merchant Cash Advance lending.

The Application to Funding process is also much quicker than traditional lending, so you can get the money you need in days, not weeks or months.

Lending Loop also has some other great benefits:

  • You can be an Investor and assist other small businesses.
  • Investors have full visability into the loans they invest in and can customize their portfolio any way they want.
  • You can diversify your portfolio into a many loans as you like, and the amounts you invested are determined by you too.

A Free credit check tool is available at GetLoop.ca (use of this tool does not affect your credit rating)

Questions?

email clientcare@ledgers.com or contact us here: https://www.ledgersfranchise.ca/contact-us/

Get the financing you need to grow your business!