OneLoanPlace.com started in 2010, and is based in Tallahassee, Florida. Rather than being a lender itself, OneLoanPlace.com is a free loan matching company. The company’s representatives aim to help customers with credit enhancement, credit repair, debt settlement, and business loans. OneLoanPlace.com boasts having multiple lenders across the nation, and tries to save customers hassle, paperwork, and time. Their process aspires to avoid lenders with hidden fees, and high interest rates. Small business loans range from $2,000 to $1 million and the company has lenders in all 50 states.
With OneLoanPlace.com, business owners can expect to receive help in a number of financial areas. Their resources can help businesses get the assistance they need to finance projects. Benefits of the OneLoanPlace.com platform include:
Small Business Loan Assistance
OneLoanPlace.com has lenders that offer small business loans from $2,000 to $1 million. The loans can help clients grow their business, fund ongoing operations, and more. Regardless of what the purpose of the loan is, the company has specialists to assist. OneLoanPlace.com claims to have a network of active lenders in every state, and works to find the lender that best fits the customer’s financial situation.
The company itself does not charge any fees, and has options for credit standings.
Most of OneLoanPlace.com’s lenders do not require collateral, don’t charge an annual fee, and have competitively low rates. Not only that, but most of the company’s lenders have small business loans with terms from six to 84 months—include a revolving line of credit—and do not require a lot of documentation.
Each lender is different and may charge prepayment, origination, or late fees.
Customers can enjoy a free and easy application. In fact, those who fill out the online application within business hours are likely to get a call or email response in two hours or less. People can get approved quickly, and the company has served over 2,224,597 applicants.
The website does not list eligibility requirements, but applicant must have a working email address. All credit standings are considered.
OneLoanPlace.com itself does not charge any fees, but cannot guarantee lenders will not charge them. OneLoanPlace.com’s website lacks key information on their small business loans. Other concerns include the following items:
Not a Direct Lender
OneLoanPlace.com is not an actual lender, and instead matches clients up with a lender from their vast network. The company itself does not offer direct services, which is why the website lacks specific small business loan program information.
No Information on Lenders
Even though OneLoanPlace.com states they have a network of lenders in all 50 states, the company does not list any of its lenders, or provide even one example.
The website explains that each lender has their own unique terms, interest rate, and late fee policy; however, OneLoanPlace.com does not explain any information on lenders in detail, or clarify what average fees are typically charged.
The website claims that APR can range from 1.99 percent to 35.99 percent, and depends on each program. While 1.99 percent is very reasonable, 35.99 percent is high and more expensive than average. These rates are most likely based on the client’s credit score.