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Rating by Finanso®

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Apply for a American Lending Center's loan



The requirements to be eligible are special for each credit option. To take an SBA PPP, the borrower's business must:

  • Have a maximum of 10 employees;

  • Be owned by a minority or a woman;

  • Be in a low-income community.

To take an SBA 504, the borrower's business must:

  • Have a tangible net income of no more than $15 million;

  • Have an average net income of less than $5 million after deducting federal tax.

To obtain a Guaranteed Farm Loan from the American Lending Center, the borrower must not be able to obtain another loan without an FSA guarantee. Only the owner of the property can take a loan for energy efficiency and renewable energy improvements.

Application details

To successfully apply for PPP loan forgiveness, the borrower must provide these documents:

  • Tax forms

  • Bank account statements

  • Business rental or mortgage statements

  • Utility payments.

How to apply for a loan

The website of the American Lending Center gives an opportunity to apply only for forgiveness for a previously taken SBA loan. To apply for a PPP loan forgiveness, follow these simple steps:

  1. Click the Apply Now button.

  2. Next, click Create account.

  3. Provide your email and come up with a password.

  4. Click Apply on SBA portal to be redirected to the SBA website.

  5. Click Register to Start Your Request.

  6. Create a new username and password, then enter your email.

  7. Follow the link in the letter from SBA and click Confirm to confirm the email.

  8. Log in to your account and fill in your phone number.

  9. Enter the confirmation code from the SMS.

  10. Click Start Your Forgiveness Request.

  11. Enter EIN, SSN or ITIN, and PPP Loan amount.


What are American Lending's requirements?

The basic criteria are US citizenship and 18 years of age. Each credit option requires its own criteria of eligibility. PPP requires no more than ten employees. SBA 504 requires having a net worth business of no more than $5 million. A PACE loan is issued only to the owner of the property.

Can I qualify for American Lending if I'm bankrupt?

The company does not give exact data about this. Based on the requirements of other lenders, we can say that your bankruptcy should have been issued more than two years ago.

Does American Lending require collateral?

No, your loan does not require collateral and will be unsecured.

Calculate loan payments at American Lending Center

American Lending Center calculator will allow you to calculate an approximate payment schedule for the loan

ALC calculator
Interest rates are given in accordance with the rates of the American Lending Center in Washington, D.C. as of 25.09.2022
Loan amount

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Loan term

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What to focus on before applying for a loan with American Lending Center

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between American Lending Center and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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