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Document collection is turned off. This site can explain financing types, and it will not store bank statements until security and product availability are actually in place.

CommonLending

Bank vs online business loan

A bank uses its own credit policy. Online only describes how the form is filled in.

What it is

Common Lending is not a bank. The product behind an online form might be a term loan, a line, or a purchase of receivables. Those are different contracts.

What's typically needed

  • Latest three months of business bank statements
  • Time in business
  • A government-issued photo ID
  • The two options you are actually comparing
Start application

Applying has no impact to your credit. Submitting this form does not pull a credit report.

Related: Bank loans · Financing types