As with any new business enterprise, a new website does not automatically make it untrustworthy. In fact, as far as security goes, LendingParadigm.com has a pretty high security rating of 68%. But, as with all new businesses, we should be extra careful and vigilant- especially since it’s a financial website and you will be trusting the people behind the name to lend you money and help you grow your business. While we hope our review will help you to make the right decisions about this website, you should do your own homework before placing putting your faith and future in their hands.
LendingParadigm.com is offering its potential investors “Business Loans for big business dreams” – and backs this up with the claim the it’s offering “Loans that let business owners take the next step”. How?
– Well, the quantum of loan being offered is up to $2.000.000. That’s not bad to kick-start a small business or give it a much-needed push. You just have to fill out one application to get access to over 75 lenders.
– The decision to approve (or not) is given in real time – not sure quite what that means but the decision is based on the information the potential investor provides. This implies that they will take your information at face value. The application processing time can vary – between 1 – 5 minutes but you will get the decision within minutes. Beats having to sit at a bank for hours.
– You won’t need to visit banks and talk to people endlessly to convince then – essentially, it’s all done online. So, it’s simpler and faster.
– It offers you quick, secure access to much needed funds for your business to grow. But, as the website informs us, you have no obligation to take any loan that is offered. The site recommends that you read the loan terms carefully before making an informed decision.
There are some mandatories that LendingParadigm.com requires of all potential investors. These terms don’t seem to be very rigorous or taxing. From our point of view, they seem quite logical and easily attainable.
Time in business: Minimum six months
Credit score: 550
Monthly revenue: At least $10,000 in gross sales
Bank account: Required to receive funds
Loan amount: Between $10,000 – $2,000,000
Bankruptcy: Not filed bankruptcy in the past three years.
All in all, LendingParadigm.com claim to offer business loans and capital solutions created with your business in mind. It says you will get just the right amount of funding, instead of too much or too little. In fact, you can apply for up to $2,000,000 in funding in less than 30 minutes! Well, online lenders are faster and simpler, but you need to make sure they are honest and dependable. With a security rating of 68%, this one seems quite genuine and authentic – though the site owner is using an anonymous service which prevents identifying the owner. However, this could be because the owner because the owner doesn’t want to receive any spam. Since this is an e-commerce site, we would suggest that you confirm the business address with the website owners.