Small Business Administration: Best for SBA loans

Loan amounts | Up to $5,000,000 |
Maximum interest rate | - Variable: Prime + 3.0% to Prime + 6.5%
- Fixed: Prime + 5% to Prime + 8%
|
Term length | Up to 300 months |
Minimum credit score | 680 (recommended) |
Minimum time in business | 24 months (recommended) |
Capped interest rates
Long repayment terms
Offers term loan, line of credit or microloan
May require a personal guarantee
Collateral required for loans over $25,000
Longer turnaround time than online lenders
The U.S. Small Business Administration (SBA) partners with lenders nationwide to offer finance options for businesses that don’t qualify for traditional funding. Since the SBA reduces lender risk by guaranteeing up to 75% to 90% of the loan, lenders can offer lower rates and extended repayment terms.The three main SBA loan programs are the SBA 7(a) loan for general expenses, the SBA CDC/504 loan for major fixed assets and the SBA microloan for smaller purchases.
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OnDeck: Best for short-term business loans

Loan amounts | $5,000 to $250,000 |
Starting interest rate | 35.40% (for at least 5% of customers)* |
Term length | 18 to 24 months |
Minimum credit score | 625 |
Minimum time in business | 12 months |
*Minimum APR offered to at least 5% of customers (not the lowest rate offered).
Fair to low credit accepted
Can help build business credit
Funds can be available within same business day
Requires daily or weekly repayments
Not all industries are eligible
Not available in Nevada, North Dakota or South Dakota
OnDeck is our top pick for short-term business loans because you can borrow large amounts, even with a low minimum credit score. If you qualify, you can even get funds on the same day you’re approved. Additionally, you can build your business credit by making on-time payments with an OnDeck loan.
Read our OnDeck review.
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Funding Circle: Best for long-term business loans

Loan amounts | $25,000 to $500,000 |
Starting interest rate | 11.29% |
Term length | 6 to 84 months |
Minimum credit score | 660 |
Minimum time in business | 24 months |
Ideal for long-term funding needs
No hard credit check for most applicants
No minimum revenue requirement
Payments aren’t reported to all credit bureaus
Must be in operation for at least two years
Collateral and personal guarantee required
With a long-term business loan from Funding Circle, you can enjoy competitive rates, long repayment terms and no prepayment penalties. Additionally, you can receive funds as quickly as two business days. Funding Circle also offers funding options for women-owned businesses and minority entrepreneurs.
Read our Funding Circle review.
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American Express Business Line of Credit: Best for business line of credit

Loan amounts | $2,000 to $250,000 |
Starting interest rate | - 3 to 9% for 6-month loans
- 6 to 18% for 12-month loans
- 9 to 27% for 18-month loans
|
Term length | 6, 12 or 24 months |
Minimum credit score | 660 |
Minimum time in business | 12 months |
Quick application process
Only pay interest on what you use
No prepayment penalties
Requires a personal guarantee
Confusing fee structure
Must link bank account to determine eligibility
The American Express Business Line of Credit offers businesses access to revolving funds up to $250,000. With a business line of credit, you can borrow up to the credit limit as often as you like, only paying interest on what you use. The streamlined application takes minutes to complete, with funds available within one to three business days.
Read our American Express Business Line of Credit review.
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Credibly: Best for working capital loans

Loan amounts | $5,000 to $400,000 |
Starting interest rate | 1.11 factor rate |
Term length | 3 to 3 months |
Minimum credit score | 500 |
Minimum time in business | Three months |
Ideal for almost any type of short-term business need
Low minimum credit score requirement
Businesses can qualify after only three months of operation
Need $180,000 annual revenue to qualify
Charges a 2.50% origination fee
Most products provided by third-party partners
Credibly’s working capital loans can provide funding in less than 24 hours if you need cash to cover operating expenses like payroll or inventory. With a minimum credit score of 500, Credibly may be willing to look past a checkered credit history if you have a healthy annual revenue.In addition to working capital loans and merchant cash advances, Credibly partners with lenders offering merchant cash advances, business lines of credit, equipment financing, SBA loans, invoice factoring and other loans for small businesses.
Read our Credibly review.
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Taycor Financial: Best for equipment financing

Loan amounts | $500 to $2,000,000 |
Starting interest rate | 3.49% |
Term length | 12 to 84 months |
Minimum credit score | 550 |
Minimum time in business | Startup |
Offers 100% financing with no down payment
Startup friendly — no minimum time in business requirement
No prepayment penalties
Equipment financing rates can go as high as 28.00%
Includes a documentation fee
Stricter criteria for equipment refinancing
Taycor Financial offers equipment loans at affordable rates, flexible terms and no prepayment penalties. Since the equipment acts as collateral to secure the loan, all business owners are encouraged to apply — including startups or low-revenue businesses. Additionally, Taycor Financial’s low minimum required credit score makes it a potential option if you’re looking for equipment loans with bad credit.
Read our Taycor Financial review.
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Wells Fargo: Best traditional bank for business loans

Loan amounts | $10,000 to $15,000,000 |
Starting interest rate | Varies by product |
Term length | Up to 84 months |
Minimum credit score | 680 for unsecured line of credit (not disclosed for other products) |
Minimum time in business | 24 months for unsecured line of credit (not disclosed for other products) |
Offers a range of business products and services
Automatic enrollment in free rewards program
No collateral required for unsecured line of credit
High annual fees for unsecured line of credit
Personal guarantee required for some products
Must be in business for two years to qualify for most loans
With over 7,000 physical branches throughout the U.S., Wells Fargo could be a good option for business owners wanting a traditional brick-and-mortar bank experience. Wells Fargo offers unsecured and secured lines of credit, SBA loans, healthcare practice loans, business bank accounts and business credit card rewards. However, bank loans for business typically have longer funding times than online financing companies.
Read our Wells Fargo review.
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Fundbox: Best for startup business loans

Loan amounts | Up to $150,000 |
Starting interest rate | - 4.66% for 3-month terms
- 8.99% for 6-month terms
|
Term length | 3 or 6 months |
Minimum credit score | 600 |
Minimum time in business | Six months |
Ideal for startups
Unlock more discounts with Fundbox Plus
Available to businesses in all U.S. states
Only offers a business line of credit
Doesn’t fund all industries
Short repayment terms
If you need a quick startup business loan, Fundbox offers up to $150,000 with its business line of credit. New companies can qualify after six months of operation and at least $100,000 in annual revenue. Withdraw funds when needed, only paying interest on the amount you use.You can unlock additional benefits, including up to 20% off fees, by upgrading to Fundbox Plus.
Read our Fundbox review.
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Fora Financial: Best for bad credit business loans

Loan amounts | $5,000 to $1,500,000 |
Starting interest rate | 1.10 to 1.40 factor rate |
Term length | Up to 15 months |
Minimum credit score | 500 |
Minimum time in business | Six months |
Low minimum credit score
Early payoff discount
Fast funding time
Doesn’t help build business credit
Need at least $15,000 monthly revenue to qualify
Factor rate makes it difficult to compare loan costs
If you’re looking for a bad credit business loan, Fora Financial considers borrowers’ credit scores as low as 500 without the need to pledge collateral. Your business could access funds up to $1,500,000 million within 24 to 72 hours after approval.
Read our Fora Financial review.
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National Funding: Best for fast business financing

Loan amounts | $5,000 to $500,000 |
Starting interest rate | 1.11 factor rate |
Term length | 4 to 24 months |
Minimum credit score | 600 |
Minimum time in business | Six months |
Funding as soon as 24 hours
Early payoff discount
No down payment or collateral needed
Need $250,000 in annual revenue to qualify
Factor rate makes it hard to compare other lenders
Only two products available, despite misleading website marketing
National Funding provides quick business loans for companies needing fast access to capital. With a National Funding loan, you could borrow up to $500,000 with no collateral. Even better, you can get a discount for paying off your loan early.
Read our National Funding review.
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Headway Capital: Best for unsecured business loans

Loan amounts | Up to $50,000 |
Starting interest rate | Not disclosed |
Term length | 12, 18 or 24 months |
Minimum credit score | Not disclosed |
Minimum time in business | Six months |
No collateral required
Short time-in-business requirement
No monthly or annual service fees
Higher interest rates than secured loans
Weekly payments may be required
Not available in all states
If you can’t provide collateral, consider an unsecured business loan with Headway Capital. You can borrow up to $50,000 for expenses like payroll, inventory, marketing or covering seasonal dips in income.Headway Capital uses a holistic approach to evaluate your loan application, considering factors beyond your credit score. However, you need an annual revenue of at least $50,000 to qualify.
Read our Headway Capital review.
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eCapital: Best for invoice factoring

Loan amounts | Up to $30,000,000 |
Invoice factoring rates | 0.90% to 2.50% |
Minimum credit score | Not needed |
Minimum time in business | 12 months |
Provides non-recourse invoice factoring
Offers same-day funding
High funding limits
Must apply via contact form or phone call
Slightly higher fees than recourse factoring
Need $10,000 monthly revenue to qualify
If a significant amount of your capital is tied up in unpaid invoices, consider fast invoice factoring with eCapital. You can receive a cash advance of up to 90% for your outstanding invoices, allowing you to focus on your business while eCapital collects customer payments. eCapital provides non-recourse invoice factoring, enabling you to keep the advance even if your customer never pays.
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Accion Opportunity Fund: Best for business microloans

Loan amounts | $5,000 to $250,000 |
Starting interest rate | 7.49% |
Term length | 12 to 60 months |
Minimum credit score | Not disclosed |
Minimum time in business | 12 months |
Offers business coaching and mentorship
Fixed monthly payments
Over 90% of clients are women, people of color or low-income business owners
Not available in all states
Must generate $50,000 or more in annual revenue
Doesn’t list minimum credit score requirements
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