How it Works - Borrowing

Bankless banking, not thankless banking

Borrowing at IOU Central is straightforward, secure and convenient. We don’t spring random fees on you, we don’t hike up your interest rate, we don’t require you to collateralize your loan with personal assets and we don’t need you to write us a novel on why you deserve a loan for your business.

If you’ve operated a relatively healthy business for at least two years, and are looking for a 6 to 12 month loan between $5,000 and $100,000, a small business loan from IOU Central is a great opportunity to get ahead.

The best part about the application process? You’ll hardly notice there’s a process at all...

Step 1 - Login Data

1Login
Data
2Detailed Information
3Loan
Details
4Financial Data
5Review/ Confirm

Simply set up a login for the site.

Step 2 - Detailed Information

1Login
Data
2Detailed Information
3Loan
Details
4Financial Data
5Review/ Confirm

Give us the basics on your company (what you do, when you started, where you operate, how to get in touch).

Step 3 - Loan Details

1Login
Data
2Detailed Information
3Loan
Details
4Financial Data
5Review/ Confirm

Tell us how much you want to borrow, for how long and generally for what purpose (cash flow maintenance, inventory purchases, etc.).

Step 4 - Financial Data

1Login
Data
2Detailed Information
3Loan
Details
4Financial Data
5Review/ Confirm

Once you've done that, you can opt either to have us securely access your business bank account so that we can give you an instant decision or upload your bank statements for a manual review.

Step 5 - Review and Confirm

1Login
Data
2Detailed Information
3Loan
Details
4Financial Data
5Review/ Confirm

Go over the information to ensure it's accurate, consider our loan terms based on your loan application and you're done. One way or another, you'll know in short order whether or not your loan application has been approved.

See? Straightforward and secure.

The convenience comes into play when the funds for approved loans are automatically deposited into your business bank account and the loan repayments automatically debited each day so that you never have to worry about making a bulk payment once a month. Ah, cash flow relief. Now you can focus on the business itself, rather than the business of doing business.