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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Apply for a Indymae's loan


How to Apply


General requirements to borrow from a financial institution are:

  1. Age. The borrower must be at least 18 years old to apply for business financing from Indymae.

  2. Citizenship. Customers must be U.S. citizens or lawful permanent residents.

  3. Stable source of income. Customers must have a stable source of income. This may come from various sources, such as employment, business revenue, or a combination of both.

There is an additional set of requirements for each type of loan.

  • Business loans. Your minimum FICO should be 650+, and you have to be at least two years in business. The annual revenue you receive should be $150,000 and more.

  • Lines of credit. Your minimum FICO should be 650+, and you have to be at least two years in business. The annual revenue you receive should be $480,000 and more.

  • Invoice factoring requires you to have a minimum of 530+ FICO, be three years in business, and receive $10,000 monthly revenue.

  • To qualify for the Phoenix Program, you must have an ability to pay back, be at least one year in business, and receive $150,000 in annual revenue.

Application details

When applying for a loan with Indymae, you must provide some basic documentation. This includes:

  • Your ID;

  • Proof of income;

  • Proof of residency;

  • Bank details;

  • 6-months bank statements;

  • A year's business tax return.

Indymae may reject your loan application for several reasons. The most common is that the applicant does not have a regular source of income. Other reasons include having unpaid debts, a poor credit history, or failing to provide the required documentation if your loan application is rejected.

How to apply for a loan

After clicking the "Get Started" button on the Indymae website, enter how much money you want to borrow. Tap Continue and choose the purpose of your loan. Answer when you started your business and provide your revenue, credit score, your business name, industry you operate in, your business’s ZIP Code, and your name. You can provide your mobile phone number and email address. Click the “Request Loan” button. Indymae’s representative will reach out to you shortly to discuss the request. Should you need immediate help, call (888) 326-6888.


Can I apply for an Indymae line of credit if I am unemployed?

No, you cannot. The Indymae line of credit is only available to employed individuals who can provide proof of income.

Am I eligible for an Indymae loan if I have bad credit?

You are only eligible if you have at least 530 FICO score.

Why would Indymae reject my application?

Indymae may reject an application for several reasons. The most common reason is that the applicant does not meet the minimum eligibility requirements for the program.

Calculate loan payments in Indymae

Indymae calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

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2000000 $
Loan term

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What to focus on before applying for a loan with Indymae

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 Indymae 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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All Indymae’s reviews by October 2022
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