Intermediate-Term Loan by Able Lending

Intermediate-Term Loan by Able Lending

Able is committed to providing growth capital for any business need at the lowest rates possible. Able Growth loans range from $25,000 to $1MM with 1 to 5 year terms, and interest rates starting at 8% – no hidden fees or prepayment penalties. Loans are funded with the support of your network and ours. Your friends, family, and fans have the opportunity to support your business by funding a portion of your loan. Then Able funds the rest – up to 100%.

8/10

Cost
40% Complete
Low High
Effort to Apply
20% Complete
Easy Difficult
Funding Speed
30% Complete
Months Minutes
Repayment Terms
80% Complete
Months Years

Bottom Line

This is a good option if you can raise at least 10% of your loan, which unlocks more capital from Able. The more you raise, the more you save on your rate.

Pros

Low-interest rates. Your friends, family, and fans have the opportunity to support your business while you retain equity. Raise at least 10% from your network and Able matches the rest.

Cons

Loan requires a minimum of 10% of the total loan funded by at least two backers. You (the owner) can be a backer, but you are required to recruit at least two additional outside people.

Qualification Requirements

Time in Business

12 Months

Incorporation

Incorporation required (no sole proprietors)

Revenue

$100,000+ annual revenue.

Personal Credit Score

650+

State Exclusions

Unable to lend in California, Connecticut, Delaware, Minnesota, Nevada, North Carolina, North Dakota, Oregon, South Dakota, Vermont.

Cost
8% - 25% APR
Repayment Duration
1 - 5 Years
Funding Amount
$100,000 - $1MM
Funding Speed
2 weeks
Application
Digital

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