Refinancing your house, or relying on credit cards, are not sustainable ways to start a business. Taking out a loan gives you the flexibility you need as an entrepreneur or business owner, especially when a commercial loan isn’t feasible.
Expand your business, without refinancing your home. Take out a personal loan between $1,000 to $35,0002 to expand your business. Get your credit score for free and we’ll show you the best loans suited to your financial profile.
This won’t affect your credit score!
Creating an account is quick and easy. You’ll instantly see what options are available to you.
Your scheduled payments will be the same each month and won’t change. Plus, there are no prepayment penalties.
Have questions? Simply email our friendly customer service team.
1) Get Your Free Credit Score (1 minute)
Get your free credit score. Then, we’ll show you the best loan options suited to your financial profile.
2) Get a Quote (1 minute)
If eligible for a low-interest loan powered by Borrowell, you’ll have the option to get a quote. (Otherwise, we’ll provide you with alternate options from our trusted partners.)
3) Verify Your Info
Provide proof of income (your two most recent pay stubs or Notice of Assessments) and verify your bank account electronically.
4) Get Your Money
If approved, your Borrowell loan will be directly deposited into your bank account as soon as the next business day. Personal loans are simple!
Choosing a Borrowell loan gives you…
The affordability you’re looking for.
Most credit cards charge interest rates of 19.99%, which can quickly rack up.1
A loan with a 12-14% interest rate can save you thousands over time.
Fast money. A Borrowell loan can be in your pocket by the next business day!
This means you get your money up-front, so you can use it for deposits and other expenses.2
You can pay off your loan as early as you like with no prepayment penalties and in easy installments.
Should I get a loan to expand my business?
If you’re ready to take your business to the next level but don’t have the financial capital to do so, a personal loan may be a good idea.
How will a loan help grow my business?
There are numerous ways a loan can help you expand your business. Common reasons people get a business loan are:
Is a business loan better than borrowing against my credit card?
Taking out a personal loan for a small business is a good option if you know you will be paying for your purchases with your credit card but won’t be able to pay them off right away. A typical credit card APR ranges from 19.9%-29.9% – so making a big purchase with a credit card is not always the best option.
Borrowell loans range from 5.60% -29.9% APR.2 Taking a Borrowell loan may save you money on interest. See how much you could save with our loan calculator.
How do I apply for a loan to expand my business?
Business loans are simple. First, get your credit score from Borrowell and then you’ll see the best loans suited to your financial profile. Checking your rate won’t hurt your credit score.
1Based on credit card APR of 19.9% and credit card debt repayment of $250 per month.
2Please note that final approval of your application for a Borrowell loan is conditional on completion of the steps set out in your application (including identity, income, and bank account verification) as well any further underwriting review deemed necessary. Additional documents may be required. Borrowell retains the right to adjust any loan options presented to you or to decline your application at any time prior to final approval.