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Best Small Business Loans of 2021

By Simone Johnson,
Business News Daily Staff
| Updated
Apr 08, 2021

Here are the best business loans and financing options available to small businesses. We highlight the best lenders for SBA loans, conventional loans as well as the best alternative lenders.
Best for Merchant Cash Advances
Advances range from $5,000 to $250,000
Best for Working Capital
Lines of credit range from $2,000 to $150,000
Best for Bad Credit Loans
Fixed-rate loans up to $500,000 or lines of credit up to $100,000
Best for Invoice Financing
Financing ranges from $50,000 to $2M
Best for Small Business Lines of Credit
Lines of credit range from $2,000 to $150,000
Here are the best business loans and financing options available to small businesses. We highlight the best lenders for SBA loans, conventional loans as well as the best alternative lenders.
Updated 04/08/21

We've updated our review of small business loans with details about the PPP Extension Act of 2021, which extends the application deadline of the Paycheck Protection Program to May 31, 2021.

Securing funding during critical times is a challenge for most small business owners. Alternative lending offers multiple options, including working capital loans, merchant cash advances, equipment financing, invoice factoring and term loans. We researched more than 100 lenders, scrutinizing their application process, qualification requirements, and loan rates to determine the lenders we think are best for various types of loans.

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Our Reviews

Rapid Finance: Best for Merchant Cash Advances

Rapid Finance's merchant cash advances range from $5,000 to $250,000. You repay your loans by giving Rapid Finance a fixed percentage of future credit card transactions. To apply with Rapid Finance, you'll need to provide a government-issued photo ID, a voided check from your business's checking account, the last three months of your company's bank account statements and the three most recent credit card processing statements. You can apply online or over the phone. Approval typically takes 24 hours, with funds available in three days.
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SBG Funding: Best for Working Capital

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Offering uncomplicated qualification requirements and lenient rates, SBG Funding provides the best option for working capital loans for small business owners. Loan terms range from six months to five years. Credit score requirements are as low as 500. SBG examines your monthly income and the profitability of your business to determine whether you're eligible for funding.
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OnDeck: Best for Bad Credit Loans

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OnDeck offers fixed-rate loans up to $500,000. To qualify, you need a minimum credit score of 500, annual revenue of at least $100,000, and you must have been in business for at least one year. Loan terms vary, ranging from three to 36 months, and are paid back on a daily or weekly basis. You can apply online or over the phone. Approval takes just minutes, with funds deposited into your account within 24 hours.
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Noble Funding: Best for Invoice Financing

Noble Funding provides two invoice financing options: invoice factoring and accounts receivable lines of credit. It also helps borrowers arrange loans with other lenders. They take the time to analyze your business's finances so they can offer the best loan option for your company. Loan types include term loans, cash advances and unsecured business loans.
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Kabbage: Best for Small Business Lines of Credit

Kabbage's line of credit loans go up to $250,000. Each time you draw against your line of credit, you have six or 12 months to repay the funds. Instead of paying interest, however, you pay fees ranging from 1-10% each month. To apply, you fill out an online application and link Kabbage to either your business checking account or a software application you already use, such as QuickBooks. Kabbage reps will review the data to determine if you meet the company's qualification standards. The process typically takes a few minutes to complete. Once approved, you have instant access to your line of credit.
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Crest Capital: Best for Equipment Financing

Crest Capital offers equipment financing up to $1 million. Documentation of your company's finances isn't necessary if you're seeking $250,000 or less. The lender has a range of loan and lease terms, including fixed-rate loans, $1 purchase agreements, 10% purchase options, fair-market-value leases, guaranteed purchase agreements, and operating leases. To qualify, you must be in business for at least two years and have a minimum credit score of 700. The approval process can be completed in as little as four hours.
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How to Choose the Best Loan for Your Business

Choosing the right loan involves a clear understanding of two things: your business's current financial position and the future you see in store for your business. You want to carefully choose a loan that will not create problems for you down the road. 

When you need capital fast, it's important to maintain a clear head and think through some important issues. Assess how much money you need, how fast you need it and what you'll use it for – some loan options work better than others. You also want a clear plan before you agree to any type of loan about how you will repay it. If you don't take the time to answer these key questions and devise a repayment plan, you could be setting yourself up for a potential disaster. 

Before you apply with any lenders, reflect on how a lender would view you and your business. Also, scrutinize the lender's requirements. Check out the interest rates and determine if the loan is an amount you can reasonably afford to pay back. Compare the interest rates of various lenders until you find the rate that is best for you.  

Take time to understand the repayment terms, too. What does the payment schedule look like, and how long do you have to pay it back? Ask yourself: Does the term, the principal (the amount borrowed), and the interest rate make sense for you and your company?

What Type of Business Loan Is Best for Your Small Business?

Whether you're expanding your business, investing in marketing or advertising, or managing cash flow, it's hard to grow without the right kind of financing. Luckily, there are several different types of financing options for small business owners.

Traditional banks offer long-term loans for major purchases, SBA partners can provide small business-specific loans, and alternative lenders provide creative options like invoice financing and lines of credit.

Banks and alternative lenders can generally meet your funding needs if your business is financially stable.

Here is a brief overview of the types of loans that are available to small business owners and how the funds can be used. 

SBA Loans

U.S. Small Business Administration loans are processed by lenders and banks. They are low-interest loans that are available to help business owners expand their business (buy a business, land or equipment) or recover after a natural disaster. The maximum amount of money you can receive from an SBA loan is $5 million. 

There are four specific types of SBA loans

  • SBA 7(a) loans are a good option for buying a business, working capital or buying equipment for your business. These loans are ideal if you're looking to grow your business. You can borrow up to $5 million. SBA 7(a) loans feature a variable interest rate, which is tied to the prime rate. Collateral is required.

  • A 504 loan also has a cap of $5 million. Many business owners use a 504 loan to purchase machinery or land. 504 loans cannot be used for working capital or inventory. Interest rates are typically fixed and are based on five and 10-year U.S. Treasury bond rates. No collateral is required.

  • SBA microloans can be used for working capital, to purchase supplies or equipment or fixtures or furniture. Rates vary from 8-13%. Loans are available from community-based nonprofits, and the maximum amount you can borrow is $50,000.

  • An SBA disaster loan offers up to $2 million in loans. They are designed specifically for small business owners affected by natural disasters or global crises. According to the SBA, interest rates are fixed and are determined by legally established formulas (Rates typically range from 3-7%.)

Term Loans

When you take out a term loan, you get a sum of money that you are required to pay back in installments over a set time period. 

  • Short-term loans are designed to be repaid in less than a year. Funding can be quick – it can take one or two days before the borrower can access funds. Loan amounts range from $5,000 to $250,000.

  • Long-term loans are designed with established businesses in mind that are looking to grow. Repayment terms cover several years. They have low monthly interest rates and financing can be up to $100,000.

Line of Credit

An option for small business owners is a line of credit (LOC). LOCs provide quick access to capital, and you're not bound by certain rules about what the money can be used for. LOCs can be secured or unsecured (most are unsecured). The amount you can borrow and the interest rate are determined by the lender. Also, interest begins accruing as soon as you draw on your LOC. Many LOC loans have qualification requirements such as a minimum annual revenue, how long your company has been established, and, in some cases, business owners must have a minimum credit score of 500 or higher.

Merchant Cash Advance

A cash advance is a lump-sum payment – an advance – that business owners borrow against future income. Businesses repay advances using a portion or percentage of credit card income. The fees for merchant cash advances can be very expensive.

Peer-to-Peer Lending

Peer-to-peer (P2P) lending is a loan from another business owner or individual investor interested in financing your business. This cuts out the need for banks. However, P2P lending is not allowed in some states.

Unsecured and Secured Loans

An unsecured loan doesn't require you to put up collateral. However, you must have good credit to qualify, which is considered a score of 630 to 850. Maximum loan amounts go up to $50,000. 

A secured loan requires collateral. Loan amounts range from $50,000 to $100,000, and many owners use these funds to cover startup costs.

Key Aspects to Pay Attention to When Shopping for a Business Loan

When seeking a loan, understanding the ins and outs of the lending process, the lender's qualification requirements and the terms of your loan is vital to securing the capital you need now without compromising your business's future. 

As you compare various lenders, pay attention to the following elements.

Loan Process

As you evaluate lenders, ask how long or detailed the application process is. During this time, your lender collects information like how much income your business generates and the debts you have to assess your ability to pay back the loan. 

In each of our reviews, we've listed the average turnaround time from the time an individual applies to when the loan is funded. 

You can speed the approval process by having certain documents in order, including your business's tax income tax forms, bank statements, financials, and possibly other documents like your articles of incorporation, franchise agreements, etc. As part of our reviews, we've listed the documentation you'll likely be asked to provide.  

Interest Rate

Small business loans accrue interest, which is the price you pay for a loan. Rates can be fixed or fluctuate (variable). Generally, though, alternative lenders offer a fixed interest rate. Your interest rate will vary depending on the lender you partner with, your business's financials, the credit score and credit history of the business owner, and how long your company has been established.


The loan term is the period of time the lender specifies during which you make minimum payments that comprise the principal of the loan and interest. Ensure the loan has a reasonable term that helps you plan accordingly so you can meet your company's needs while also making the minimum payment.


There is a lot that goes into getting approved for a business loan. Qualifications are the standards a lender has for its borrowers. If there is a specific loan you have in mind, investigate the lender's qualification criteria beforehand so you know what you need and must do to qualify. 

Typically, lenders have certain minimum credit score requirements or expectations regarding other aspects of your business that they use to determine if you qualify. We've detailed eligibility requirements for each of our six best picks.


Collateral is an asset you offer or pledge to back your loan. In the event you cannot pay back your debt, the collateral is forfeited to the lender. Collateral can be your building (if you own it), equipment, personal accounts or property.

Lenders that offer secured loans usually request that the business owner put up a certain amount of collateral. Unsecured loans, though, do not require collateral. But before you breathe a sigh of relief, lenders sometimes require that the business owner make a personal guarantee – a binding legal document that states you will personally pay back the loan if your business can't. If the debt is nondischargeable and you go on to file personal bankruptcy, you're still obligated to repay the debt.

Funding Time

Qualifying for a loan is great, but it is important to know when you will actually have the funds deposited into your account. Knowing this upfront helps you plan accordingly so you're not in a cash crunch for payroll or other business operating expenses.  

Special Documentation

Some lenders require you to provide additional documentation like tax returns, photo identification, bank and credit processing statements or a voided check. We've specified with each of our best picks the documentation requirements they have.

Business Loan FAQs

What is the easiest business loan to get?

The answer to this question depends on how much you need and how you intend to use the funds. There are many lenders that have minimal qualification requirements for annual revenue, time in business and the personal credit score of the business owner. This is helpful for startups without a financial history that cannot meet the requirement lenders have for more established organizations. Be sure to read our reviews to see which lenders have less-onerous eligibility requirements.

Do startup business loans require personal guarantees?

If the loan you're considering is unsecured (no collateral is required), more often than not, you're going to need to provide a personal guarantee. This is the case for most startup loans because this is how lenders protect themselves if you're unable to repay the loan.

Will lenders look at my personal credit?

If you are starting a new business, there isn't a financial history for your company. Rather than evaluate your business's credit, lenders check your personal credit. This is common, especially if you are a new business owner. Sometimes looking into your personal credit is the only option lenders have.

How important is your credit profile when applying for a small business loan?

Your credit profile has a significant impact on whether you'll be approved for a small business loan. Unless your business has been around long enough to establish solid credit, lenders look at your personal credit profile to assess your creditworthiness. The higher your credit score, the better.

Many lenders also require collateral to underwrite the loan. It could be your home, car or other private property of value. If your business fails to pay back the loan, the lender can come after that collateral.

What credit score do I need to qualify for a small business loan?

The minimum credit score you need to qualify for a loan ranges from 620 to 640 or more. However, the requirements are based on the type of SBA program you're seeking and your lender. For an SBA 7(a) loan or SBA 7(a) express loan, borrowers should have a score of 640 or more. If you're interested in the SBA CAPLines program or an SBA export loan, you should have a credit score of at least 660. SBA CDC/504 loans require a minimum score of 680, and for an SBA microloan, a score of 620 to 640 is preferred. 

Online lenders often have more flexible requirements. Some provide loans to businesses with credit scores between 500 and 550. However, if your credit score is that low, you will likely pay higher interest rates.

Can you get a business loan if you have bad credit?

It can be hard, but it's not impossible. There are lenders who don't use your credit score as a determining factor in whether you qualify for a business loan or not. Some weigh your financial history and business success more than your credit score. 

If your credit score isn't great, shore up other parts of your business lenders value, such as revenue or sales. 

Does applying for a business loan affect your personal credit score?

Often, to be approved for a small business loan, you must personally guarantee the debt, meaning you will pay back the loan yourself if your company doesn't. The lender has every right to go after you individually if the loan is delinquent, and that could hurt your personal credit score. The same applies to a business line of credit. If you personally guarantee any loan and the business is unable to pay it, you are on the hook for it.

What documentation is required to get a business loan?

Among the documents you will need to provide lenders are your annual business revenue and profit, bank statements, personal and business tax returns, a business plan, business licenses and permits, proof of collateral, a balance sheet, a copy of your commercial lease, and any legal contracts and agreements you already have in place.

What is the fastest and easiest way to get a business loan?

The traditional way of borrowing money has long been to tap a local bank or credit union, but this route can take weeks before your business is approved and funded. Online lenders tend to do a better job in this regard, getting loans into business owners' hands in days.

Alternative lenders typically offer several loan options, including working capital loans, merchant cash advances, equipment financing, term loans and invoice factoring. Depending on the type of loan you choose, you could have money in your bank account in less than 24 hours.

Either way you go, you can speed up the entire approval process by having your business documentation ready, including tax forms, bank statements, financials and other documents related to your enterprise.

What assets can be used to secure a business loan?

Lenders vary in the collateral they'll accept, but in general, anything with value can be used. Common types of collateral for business loans are equipment, vehicles, real estate, inventory and accounts receivables.

Some lenders may require you to offer personal collateral not tied to your business. This could include vehicles, real estate and cash in the bank.

What are typical business loan terms?

There are several types of business loans, all with varying terms. Business loan terms can be as short as a few weeks or as long as 25 years.

A traditional bank loan has terms from three to 10 years. Medium-term business loans last one to five years, while short-term business loans are typically three to 18 months in length.

SBA small business loans have terms up to 25 years, but 10-year loans are more common.

What payback terms can you get for your merchant cash advance?

A merchant cash advance gives you quick access to the money from your credit card sales. However, it's a costly and risky way to access cash, with complicated terms.

With a merchant cash advance, you get an upfront payout and pay it back with a percentage of your future credit card and debit card sales, or you can make daily or weekly fixed payments. Either way, you make payments plus fees and interest until you've paid back the advance. The lender assesses how likely and able you are to pay back the advance, which impacts the fees you'll pay; your riskiness to the lender is known as the factor rate. The higher your factor rate (i.e., the greater risk the lender determines you to be), the more fees you're on the hook for.

Where can you find an SBA loan application?

There are a couple of ways to find an SBA loan application. You can DIY the entire process, starting out by searching for lenders who are approved by the SBA. Armed with that list, you can comparison shop and then apply directly on the lenders' websites or through their mobile apps.

What is a business installment loan, and why would I need one?

An installment loan is financing that you use to pay for equipment or property over a set period of time. Unlike a credit card where you have a revolving line of credit, your payments are fixed over the terms of the loan. Once you pay it off, the debt is settled.

Interest rates on installment loans are typically lower than credit cards' rates, but there's more risk. If you can't pay back the loan, the lender claims your collateral.

Installment loans are common for purchasing property, expensive equipment, business vehicles or other high-priced items. You can also use an installment loan for your startup funding. If you want it for this purpose, you'll need good credit, collateral, a sound business plan, and a willingness to offer up more guarantees.

What is a business line of credit, and how does it work?

A business line of credit is a revolving loan that business owners tap as they need funds to grow and/or fill cash-flow gaps.

Instead of getting a lump sum and paying interest on the full amount, you pay interest on the money you draw from the line of credit. Typically, a line of credit ranges from $1,000 to $250,000, though some lenders may issue higher amounts. Most lines of credit have a variable interest rate, which means the amount you pay changes depending on the prevailing interest rate.

A business line of credit can either be secured or unsecured. With a secured line of credit, you need to provide collateral – which is usually real estate or a valuable piece of equipment. If you don't pay back the money from the line of credit, the bank or lender can seize your collateral.  

With an unsecured line of credit, you don't have to provide collateral, but you may need to sign a personal guaranty. [Read related article: Should You Get an Unsecured Business Loan for Your Small Business?]

What is the Paycheck Protection Program Flexibility Act?

The Paycheck Protection Program (PPP) is part of the CARES Act, which received more than $2 trillion in aid to businesses and individuals in March 2020 to weather the pandemic. The PPP provided small business owners with forgivable loans on the condition that they used the money to keep workers on the payroll.  The program proved extremely popular, and the money earmarked for loans quickly ran out.

Under the new stimulus approved in late December, the U.S. government is providing $284 billion in new PPP loans to small business owners. Small business owners who received a PPP loan in the first round but have seen sales decline 25% or more can apply for the new PPP loan.

How can you use your small business loan?

Business loans can be used for multiple purposes. Some business owners take out a line of credit to expand their business, to manage cash flow or just for peace of mind. Term and installment loans can be used to cover an expensive piece of equipment, for inventory or for other business purposes.  Equipment loans are typically used for specific equipment purchases, similar to how a real estate loan can only be used for properties.

Depending on the type of small business loan, there could be restrictions on how you can use the proceeds. For example, some banks won't let you use term loan funds for speculative investments and other risky endeavors.

How is the CARES Act supporting small businesses?

In the early days of the COVID-19 pandemic, the federal government passed the CARES Act, a $2 trillion stimulus package aimed at lifting up struggling individuals and small businesses. Two programs born out of the CARES Act designed specifically for small businesses are the Paycheck Protection Program and the Small Business Administration's COVID-19 Economic Injury Disaster Loans. The PPP, which has been funded twice, provides forgivable loans to small business owners who keep employees on the payroll, while the EIDLs are low-interest loans that business owners pay back over 30 years.


Community Expert

We reached out to our small business owner readers about the qualities they looked for in a lender. Chef Kyndra McCrary, owner of Swift Cafe LA, said she wanted a lender who offered flexibility and support. McCrary said OnDeck had the qualities she wanted most in a lender. They met her at her level, and she used the funds to launch her business. 

"It was more customized," McCrary said. "And the terms and rates were more lenient." OnDeck, she said, took the time to build a rapport with her, and understand her business situation and needs. This level of communication was important to McCrary. "[OnDeck] worked … to [provide] the payments and terms that fit our time frame." 

Consistency was another feature that stood out to McCrary and why she chose OnDeck. During her search, she encountered lenders who provided inconsistent information on their website and in person, which made working with them difficult. Transparency and consistency are key qualities in a good lender, McCrary said. It is also a vital part of the loan process, because trusting your lender eliminates back and forth and confusion. 

"They were truthful, and I went to them more than once, and they were honest with their information," McCrary said about OnDeck.  

Other qualities that McCrary looked for in a lender were the interest rates and terms offered. McCrary said she wanted to choose a lender who would best serve her financially and not cripple her later with a difficult repayment plan.  

In the case of Brian Cairns, CEO of ProStrategix Consulting, a long loan term, coupled with low-interest loans, were important for him. Cairns has used SBA loans and highly recommends them, if you qualify.  

"These are the most stringent with qualifying requirements," Cairns said. "If you do not qualify for an SBA loan, commercial loans from smaller banks and alternative lenders are a good fallback." 

Using a merchant cash advance can be difficult in the long run if you do not do your research, said Cairns. He suggested using a merchant cash advance as a last resort. "We've seen many companies get into trouble by not doing their due diligence before entering these contracts."

What to Expect in 2021

The COVID-19 pandemic has been particularly tough for small business owners, and more of the same is expected in 2021 as the coronavirus continues to surge. When the pandemic hit, small business owners were forced to close operations or spend extra cash on social distancing measures. Many businesses didn't survive. The ones that did needed government aid and loans.

The government responded with the CARES Act, providing business owners with forgivable loans through the PPP. That has since expired, but more help from the federal government may come in 2021.

In lieu of more forgivable loans, in late October, the Federal Reserve Board reduced the minimum loan size for loans available through its Main Street Lending Program from $250,000 to $100,000. The Fed also clarified that PPP loans up to $2 million can be excluded from determining how much a business can borrow under the Main Street Lending Program.

These moves are designed to spark interest with business owners who favored PPP loans over the Fed's lending program. In 2021, small business owners who took advantage of PPP will need guidance on how to receive forgiveness on their loans and whether they will face a tax hit as a result.

Without a clear idea whether additional stimulus is coming, small business owners will continue to turn to online and alternative lenders for cash in 2021. Banks and credit card issuers have been less willing to lend to small businesses during the pandemic. Online and alternative lenders have stepped in to fill that void. In 2020, the Federal Reserve slashed interest rates, nearly to zero, and they aren't expected to rise dramatically in 2021.

Business owners who tap online and alternative lenders in 2021 will not only receive low interest rates, but advances in technology may improve the process. Artificial intelligence and machine learning are reducing loan approval wait times. Credit scores still matter, but lenders are increasingly scrutinizing other aspects of a business owner's finances to ascertain their creditworthiness. Altogether, these changes are designed to make it easier and quicker to get a small business loan in 2021.

As in 2020, the number of companies that offer online and mobile lending is expected to grow. Since digital options provide extensive financing opportunities and faster approval, they are expected to be increasingly popular choices compared to traditional banks and credit unions.

In recent years, large companies like PayPal and Amazon have made a big impact on the small business lending market. By 2019, PayPal had provided $10 billion and Amazon over $1 billion in loans to American small business owners. Along with Square, they have become top loan options for small businesses.

Digital lenders' use of personalized offers makes them more attractive to small business owners. Brands have learned to target consumers based on their specific interests, and we expect more lenders to follow suit. To provide entrepreneurs with the specialized funding they need at the right time, we predict digital lenders like PayPal and Amazon will increase their personalized offers to small businesses.

Peer-to-peer lending is also projected to increase among small businesses. With peer-to-peer lending, interest rates and loan offers are based on a business's earning potential rather than its credit score. As peer-to-peer loans become more common, the camaraderie within small business groups is likely to strengthen and grow. Transparency Market Research predicts the global peer-to-peer lending market will reach $897.85 billion by 2024.

Everything seems to be digital these days. Even grocery shopping has become a digital task, so it's no surprise business loans have followed suit. In 2020, the number of organizations that offer online and mobile lending is expected to increase.

While some credit unions and banks may jump on the bandwagon by creating digital loan applications for businesses, their platforms aren't expected to perform as well. Digital options offer more financing options and faster approval, which is why they've become popular among small businesses.

Companies like Amazon and PayPal have joined the small business lending market. Amazon gave more than $1 billion in loans to American small business owners. PayPal has shelled out $10 billion within five years. Along with Square, they have become primary loan options for small businesses.

We expect more lenders to follow the example of digital lenders like Amazon and PayPal, increasing their personalized offers to small businesses to provide entrepreneurs with the specific funding they need, when they need it.

Another trend we expect to increase in 2020 is small businesses seeking funding on P2P business lending platforms. Transparency Market Research predicts the global P2P lending market will reach $897.85 billion by 2024.

P2P lending is expected to increase in popularity, thanks to its low interest rates and loan offers based on a business's earning potential instead of its credit score. Automated lending platforms have grown steadily, which are steering businesses away from traditional methods and lenders and toward businesses within their circles and communities.

March 2021: The Biden administration has made changes to the Paycheck Protection Program that are designed to help very small businesses weather the pandemic. A significant change was instituting a 14-day period spanning February and March in which only businesses with fewer than 20 employees could apply for a PPP loan.

The loan calculation formula was also modified to allow sole proprietors, independent contractors and those who are self-employed the ability to apply for a PPP loan. The government is also setting aside $1 billion for businesses in that category that are in low- or moderate-income areas. 

Additionally, prior restrictions were lifted that precluded business owners with a nonfraud felony conviction, those who were delinquent on a student loan, and noncitizen small business owners who are U.S. residents from applying for a PPP loan.

April 2021: President Joe Biden recently signed off on a three-month extension of the Paycheck Protection Program, which is a pandemic relief program that provides small businesses with forgivable loans. Borrowers now have until May 31, 2021 to file a PPP application. The Small Business Administration now has until June 30, 2021, to authorize PPP loans. As of March 31, 2021, more than 8.7 million PPP loans have been awarded to businesses.

Our Methodology

To help you find the right business loan, we researched and analyzed dozens of options. Here is a roundup of our 2020 best picks, followed by an explanation of how we chose them.

Locating the Best Services

We asked small business owners which lenders they have used and would recommend to others. To this list, we added lenders on our current vendor list, those who had reached out to us asking to be reviewed, plus others we learned about as we researched this topic.

Choosing the Best Services

After preliminary investigation, including a look at other best-pick lists, Better Business Bureau ratings, and initial research into each lender, we whittled the list down. After several rounds of research and other considerations, we arrived at a shortlist of companies to research further.

Researching Each Service

Next, we researched each lender, investigating the types of loans it offers, the amount of money that can be borrowed, the loan term, the application and approval process, and repayment process. We contacted each lender by phone and live chat (if this option was possible) and posed as business owners to gauge the support each company offers.

Our Best Picks

Ultimately, we settled on six best picks: Rapid Finance, OnDeck, Noble Funding, Kabbage, SBG Funding and Crest Capital.

Simone Johnson
Simone Johnson
Business News Daily Staff
See Simone Johnson's Profile
Simone Johnson is a business.com and Business News Daily writer who has covered a range of financial topics for small businesses, including on how to obtain critical startup funding and best practices for processing payroll. Simone has researched and analyzed many products designed to help small businesses properly manage their finances, including accounting software and small business loans. In addition to her financial writing for business.com and Business News Daily, Simone has written previously on personal finance topics for HerMoney Media.

Full List of Business Loans

Fora Financial
Fora Financial offers working capital loans for small businesses. Loans range from $5,000 to $500,000. This merchant cash advance company extends its offers to small businesses that have been in business for as little as three months.
1st Merchant Funding provides merchant cash advances and short-term business loans of $5,000 to $250,000. After completing an application, borrowers receive funding options within just a few minutes, with funding available the following business day.
6th Avenue Capital is a data-driven Merchant Cash Advance firm. To apply, provide 6th Avenue Capital with an estimated amount of your monthly credit card receipts, total monthly revenue, and the cash advance amount you’re requesting. The lenders funding experts can review your application and make a funding decision in less than 24 hours. Eligible businesses must have been open for at least six months, have at least $10,000 per month in revenue, have significant potential for future business growth and bank accounts in good standing.
800Fund.com is a provider of merchant cash advances, working capital solutions, alternative financing solutions, and other alternatives to credit lines and small business loans through the purchase of future receipts, ACH programs, and numerous other alternative lending solutions and programs.
Accion is a small business microloan lender. The company provides two types of loans: one for established businesses and one for startups. Loan types, amounts and requirements vary by state. Each loan type is secured and features fixed interest rates.
Accountable Capital specializes in loans for small and midsize businesses throughout the United States. The company offers merchant cash advances, business loans, lines of credit and working capital loans. In addition, it has funding programs specifically for liquor stores and the medical and restaurant industries. There are no application fees. The company offers 24-hour approvals, and bad credit is not an automatic disqualification.
Advance Funds Network (AFN) offers a number of flexible business-financing options for small and midsize businesses, including bad credit business loans, cash advances, invoice and purchase-order factoring, and equipment leasing. AFN's products are available to all businesses, regardless of credit score.
Advantage+ is an equipment-leasing direct lender that serves businesses throughout the country. Most new loans, which range from $2,000 to $200,000, come through equipment manufacturers, distributors and dealers that use the lender's financing to help their customers buy equipment. About 40 percent of its loans come from existing or previous borrowers, with a growing number of requests coming directly from borrowers, through the Advantage+ website and word of mouth.
Advantage Leasing is a nationwide provider of commercial financing products and services focused on small and midsize businesses. Advantage finances commercial equipment in most major market segments. The lender has expertise in certain markets, including office technology, industrial equipment, food services, office furniture, security and surveillance, health care, information technology, and software.
Alpha Funding Corp. has a lot of experience in commercial bridge loans. This lender can help you with a variety of different projects, including purchases, refinances, quick closings and constructions, with its commercial bridge loans. These loans are an option to consider if banks have denied your loan applications or if you need funding right away.
Founded in 1936, altLine The Southern Bank Company helps small businesses with funding options, including invoice factoring. It is backed by an FDIC insured and state regulated bank.
American Capital Group is an equipment financing company with many different areas of expertise and a variety of payment options.
American Express Merchant Financing is a merchant cash advance service that loans funds exclusively to merchants who accept American Express.
American Microloan provides small business financing and funding via merchant advance loans for Visa and MasterCard merchant account holders. The cash advance or loan amount is based on the merchant's previous six-month average credit card sales volume. The typical loan amount is 70 to 100 percent of the monthly average, with the typical term at six months.
Amerifund has been providing equipment financing of between $5,0000 and $5,000,000 to companies across the United States for new or used equipment since 1995. The lender tailors specific leasing or finance programs to best assist companies in meeting their financial goals. Amerifund's lease, finance and working capital programs provide flexibility, including structured terms that cater to the seasonality of your business, or programs that allow you to use the equipment for three to six months without any out-of-pocket payments.
Apple Capital Group Inc. is an asset-based lender that specializes in equipment leasing and financing ranging from $25,000 to $500,000 for up to 60 months. It also offers small business, bridge and hard-money loans on projects of under 12 months. It can evaluate loan requests in less than two hours, with funding available in three days.
ARF Financial offers a bridge loan calculator, and you can get a loan in as little as seven days.
Ascentium Capital is a solutions provider for equipment and technology financing. Its finance platform paves the way for fast, flexible financing for virtually any business need. The lender provides financing and leasing for manufacturers, distributors, resellers and franchise organizations, as well as direct financing options for small, midsize and Fortune 500 companies.
BFS Capital offers both small business loans and merchant cash advances. The company provides loans of $4,000 to $2 million to small businesses in a wide variety of industries, including restaurants, retail stores, service providers, manufacturers and wholesalers.
Biz2Credit is an online marketplace for small business funding. The company connects small businesses in need of funding with lenders. It can help small businesses obtain a variety of loans, including SBA loans, equipment financing, business acquisition loans, commercial loans, lines of credit, franchise loans, real estate financing, disaster loans and merchant cash advances.
BizLender is a provider of alternative funding solutions for businesses throughout the United States. This lender offers business cash advances, merchant cash advances, and both secured and unsecured business loans. Funding of $5,000 to $500,000 is available through BizLender.
BoeFly is an online marketplace for small business loans. This loan exchange connects small business owners with more than 4,000 business lenders. BoeFly is a subscription service that does not charge any transaction fees.
Bond Street offers term loans up to $1,000,000, with interest rates starting at 6 percent and terms from one to three years. To qualify, your business needs to have been open for at least two years and have annual revenue of at least $200,000. Businesses whose owners have a credit score of at least 640 are most likely to qualify. The online application takes 10 minutes to complete, with offers arriving within three days.
Business Capital USA is a provider of merchant cash advances of up to $500,000. To qualify, borrowers must have been in business for at least six months and have steady monthly cash flow, or at least $5,000 in monthly revenue. Borrowers can apply for an advance online.
Business Credit & Capital specializes in offering merchant cash advances to retailers, restaurants and service businesses. The lender purchases a percentage of future revenue and advances those funds to businesses. There are no restrictions on how the money can be used. For businesses to repay the loan, the lender collects a daily percentage of sales.
Business Finance Advance provides unsecured cash advance funding to small and midsize merchants based on their future credit card sales. The lender determines cash advance amounts based on a borrower's average monthly credit card sales. It generally funds between $2,000 and $1 million.
CAN Capital Merchant Services provides merchant cash advances to businesses that have been in operation for at least four months. You could receive $2,500 to $150,000 in financing. You repay the borrowed amount as a daily set amount or a percentage of your credit card sales, depending on whether you choose a business or merchant cash advance.
Capify is an alternative finance provider that leverages a proprietary underwriting platform to provide working capital solutions to small and midsize businesses. These loans include merchant cash advances, business loans and inventory purchase programs. Business owners can apply online and will receive decisions in 60 seconds or less.
Capital Alliance provides loans to small businesses that have been in business for at least a year and have annual revenues over $100,000, regardless of their credit history. Loans are available up to $1 million, with terms typically ranging from six to 12 months. Businesses can apply for loans online, receiving a decision within 24 hours.
CapitalFront offers a wide array of financial products – including merchant cash advances, receivable financing, factoring, SBA lending and fixed-rate term solutions – to independent business owners nationwide. Funding amounts and terms vary by loan.
Celtic Bank has a variety of loans for small businesses, including the SBA 7(a) loan.
Chaordix connects businesses with fans and interested participants for crowdsourcing new ideas or products as well as for marketing. Learn more.
Chase is a massive financial institution that provides a variety of solid small business lending options. Businesses can take out lines of credit, term loans, SBA financing, commercial real estate, credit cards, equipment financing and trade financing. All of these loans come in varying amounts, ranging from $5,000 up to $500,000.
Chase is a preferred SBA lender with low interest rates. It ranks in the SBA's list of top 100 lenders. Learn more in our review.
CIM provides SBA 7(a) loans to small businesses nationwide. CIM is an SBA-preferred lender and has one of the few SBLC licenses issued by the SBA to nonbank lenders, which gives it more flexibility in its lending decisions.
CircleUp matches accredited investors with qualified small businesses in retail or consumer products for equity crowdfunding.
Citi Wide Merchant Funding provides small businesses with access to working capital. Funding options include small business loans, merchant cash advances, equipment financing, accounts receivable financing and startup restaurant financing.
Read our unbiased review of Classy. See how Classy compares to the best Fundraising Sites of 2018.
Community Funded is a crowdfunding platform that you can integrate into your existing website. Read our write-up to find out more about this service.
Connect2Capital is a nonprofit lender for small businesses. It offers small business loans of $50,000 to $4 million for permanent working capital, owner-occupied commercial real estate and leasehold improvements, business equipment, and refinancing existing debt.
A business financing company that specializes in freight.
Credibility Capital is a lending marketplace that links lenders to small businesses looking for funding.
Credibly offers working capital and expansion loans of $5,000 to $250,000 to small and midsize businesses. Working capital loans have repayment periods of six to 17 months, while expansion loans have 18- to 24-month terms. Both include one-time 2.5 percent fees. There are no application fees, and if your application is approved, you can typically expect funds within 48 hours.
Credit Card Processing Specialists offers merchant cash advances to small businesses. Its services for merchant cash advance work by providing funds upfront, taking repayment when businesses process credit card payments.
CRF Connect2Capital is a non-bank lender that provides SBA 7(a) loans to small businesses in low-income areas.
CrowdEngine allows you to completely customize your crowdfunding platform for donations or investments.
Crowdfunder allows qualified small businesses to participate in equity crowdfunding to raise seed money and Stage A or B financing.
CrowdfundHQ offers customizable crowdfunding platforms for businesses and individuals with different funding and payment options.
Read our unbiased review of CrowdRise. See how CrowdRise compares to the best Fundraising Sites of 2018.
David Allen Capital offers business term loans of $10,000 to $500,000. Approvals are made within one day, with funds available as soon as two business days later. To qualify, you must have been in business for at least a year and have a personal credit score over 500 and annual revenue of more than $100,000. Repayment is made on a daily or weekly basis, with funds automatically withdrawn from your business bank account.
Dealstruck provides alternative small business loans. You can apply online and receive funding quickly.
DesignCrowd lets you post projects to a global pool of artists and designers in a contest-like platform to get the best project at your price. Learn more.
Difitek, formerly Crowd Valley, provides a cloud-based crowdfunding platform and back-end services to help businesses crowdfund their projects.
Eastland Commercial's bridge loan program is designed for quick closes. You can get prequalified in less than 60 minutes by sending the company an email.
With EquityNet, any business can open a profile and attract investors to contribute to its equity crowdfunding campaign goals.
Excelsior Growth Fund is a nonprofit alternative lender offering an affordable online loan product. Loans of up to $100,000 can be approved in as little as two business days and fully funded in as little as five business days. Larger loans up to $500,000 can be funded in approximately two weeks. Businesses can also opt to receive free advisory services and one-on-one support from its team of business advisors.
Experiment is a crowdfunding site dedicated to funding and sharing scientific research. It is an all-or-nothing platform. Each project is reviewed and scientifically approved, and the results and data must be shared with backers.
FastUpFront provides completely unsecured business cash advances of up to $250,000. All businesses that accept credit cards are eligible for a cash advance from FastUpFront. The cash advances are based on future sales, not credit scores.
First American Merchant offers merchant cash advances, cash advances for businesses that don't have a merchant account, and consumer financing that can be repaid in three, six or 12 months. The lender approves advances to businesses that have credit scores below 500 and makes funds available to borrowers within 72 hours.
Read our unbiased review of FirstGiving. See how FirstGiving compares to the best Fundraising Sites of 2018.
First Working Capital Group specializes in small business funding. The lender offers a variety of loan types, including ongoing lines of credit, merchant cash advances, equipment leasing and franchise financing. First Working Capital Group provides loans regardless of credit history. Instead, this lender gives considerable weight to how long businesses have been open when determining the loan amount.
Flash Advance is a provider of merchant cash advances to businesses around the country. Businesses can apply online and be approved within one hour. In addition to the cash advances, the lender offers SBA bridge loans, small business loans and equipment financing.
ForwardLine extends merchant and business cash advances between $5,000 and $2 million to small businesses in most of the United States. Financing through this lender, however, is unavailable to companies in Nebraska, North Dakota, Rhode Island, South Dakota, Vermont and the District of Columbia
Fountainhead Commercial Capital is a lender of Small Business Administration (SBA) 504 loans. The loans offer long-term, below-market, fixed interest rates for owners of small and midsize businesses to purchase and/or construct their owner-occupied commercial real estate. To qualify, you must be a for-profit, non-publicly traded company with a net worth of under $15 million and a net business income of less than $5 million over the previous two years, and ownership must be 51 percent U.S. citizens or legal permanent residents.
FrontStream is an online donation platform for nonprofits and businesses. It can help your business raise funds for projects, auctions, charity events and annual giving programs. In addition, it helps businesses with philanthropy efforts consisting of campaign management, employee volunteering, volunteer manage, corporate gift-matching and more.
Fundable is a subscription-based crowdfunding service that allows both rewards-based and equity crowdfunding campaigns.
Founded in 2011, Fundation is an online provider of alternative small business loans. It offers term loans and lines of credit. It offers a fast review process and no hidden fees. Fees, eligibility requirements and terms are listed on the website.
Fundbox offers business owners a way to fix their cash flow by advancing payments for their outstanding invoices. There are no approval processes, forms to fill out, phone calls to make or obligations. Businesses connect their accounting app to add their unpaid invoices and pick the unpaid invoices they want to clear. An advance for the amount automatically transfers to the business's bank account.
Fundera is a loan broker that offers equipment financing for small businesses. Through its lenders, it provides funding in as little as two days for up to 100 percent of the value of the equipment. Interest rates for equipment financing through Fundera range from a fixed rate of 8 to 30 percent.
FunderHut is a crowdfunding website for individuals, small businesses, non-profits and communities. It offers both fixed campaigns, where you must raise 100 percent of your funding or you get nothing, and variable campaigns, where you keep the money you raise even if you don't reach your goal.
Funding Circle uses its technology to match accredited and institutional investors with small businesses looking for financing. You can apply for a loan online in just 10 minutes, and get the money in your bank account within 14 days. All of the loans are secured and require a lien on your business assets and a personal guarantee from the primary business owners.
Fundly is a fundraising site that allows individuals and organizations to do a variety of fundraisers for a multitude of needs. This service has no raise requirements, is optimized for mobile users and has an extensive list of ideas to help you along your campaign path.
Fundomate offers a platform that allows small businesses to choose financing options from up to 20 different preapproved lenders. It has small business loan and cash advance options. To qualify, businesses need to have been in operation for at least three months and have at least $10,000 a month in deposits.
FundRazr is a fundraising site with access to various tools, customizable options and support to help your fundraiser be successful. This fundraising website offers two funding options: a Free plan (0 percent platform fee) and its Pro plan (5 percent fee).
Read our unbiased review of GoFundMe. See how GoFundMe compares to the best Fundraising Sites of 2018.
GoKapital helps entrepreneurs obtain business loans nationwide. With GoKapital, you can apply for a number of business lending options, including SBA loans, short-term loans, lines of credit, merchant cash advances, equipment financing, franchise loans, business acquisitions loans, and loans for minorities and women. Businesses can instantly prequalify for a loan by filling out an online application.
Grand Coast Capital Group gathers real estate professionals with years of experience in the industry. This lender offers bridge loans for borrowers looking to grow their company through investing, acquiring new property or developing existing property.
Grameen America is a not-for-profit microfinance organization that provides small loans to women. Since being founded in 2008, Grameen America has expanded to 18 branches in 11 cities and disbursed nearly $340 million to more than 58,000 women. Grameen America can invest in women who have no credit scores or business plans and can provide no collateral. Loans range from $1,500 to $10,000.
Headway Capital offers small businesses lines of credit ranging from $5,000 to $30,000. Once approved, businesses can borrow as much money as needed, whenever it's needed, up to the available credit limit. With each draw, a business can select the repayment schedule that best suits its needs. To be eligible to apply, your business must have been in operation for at least one year and be located in Florida, Illinois, Missouri, North Carolina, Pennsylvania, Virginia, Washington or Wisconsin.
Horizon Business Funding is a direct funder specializing in alternatives to small business loans, regardless of bad credit. This lender offers bad-credit business loan alternatives to businesses in any industry, provided the business has been operating for at least two to three months and has a monthly cash flow of $15,000. Horizon Business Funding provides loans of $1,000 to $1,000,000.
IgnitionDeck is a crowdfunding platform designed specifically for WordPress sites. This software is a WordPress plug-in that lets you customize your campaign, and it provides real-time statistics.
IMM Financial is primarily a cash-flow lender with loans between $5,000 and $1 million, depending on the type of funding required. The company offers a variety of loan types, including accounts receivable factoring, lines of credit, purchase-order financing, equipment financing, asset-based lending, and mergers and acquisition financing. Businesses with bad or no credit are not necessarily denied. Loans are available as secured and unsecured and in several countries besides the United States.
Read our unbiased review of Indiegogo. See how Indiegogo compares to the best Crowdfunding Sites of 2018.
InnoCentive's crowdsourcing website connects corporations with freelance talent to complete major projects with prizes in the thousands of dollars.
Innovative Lease Services offers commercial financing to small and midsize businesses throughout the U.S. and Canada. The lender specializes in custom tailored finance programs to fit each business's needs. Specific funding options include equipment financing, working capital loans, inventory financing, merchant cash advances and invoice factoring.
IOU Financial provides loans of up to $150,000 to small businesses. The automated application and approval system assesses applicants' financial realities, with an emphasis on day-to-day cash flow. To qualify, businesses must have been in operation for at least a year, make at least 10 deposits into a business bank account each month, and have annual revenue of at least $100,000 and an average ending balance of $3,000 per day in their business bank accounts.
iProsper's service is a customizable CRM software designed for leaders in organizations.
Jet Capital offers merchant advances from $2,500 to $100,000, depending on revenue and other factors, to businesses that have been operating for three months or longer and have average monthly revenue of $5,000 or more. The online application process allows for initial decisions in just minutes. Businesses approved for advances can access the funds as soon as the next business day. Jet Capital bases its decisions on a business's overall track record, not just the owner's credit score.
Kalamata Capital provides several alternative business financing programs, including alternative loans for companies needing extra capital for a variety of reasons. This finance company uses data analysis technology to evaluate the overall performance of your business to help you apply for a loan.
Kapitus offers several different financing options, including revenue-based financing and small business loans of $10,000 to $1 million. The lender also offers equipment financing and factoring options.
Katipult is a crowdfunding platform tailored for equity and real estate crowdfunding. It can be used as a private or public solicitation platform, meaning you can market investment offerings to a private community of investors or to anyone.
Through approximately 400 financing professionals nationwide, Key Equipment Finance delivers a wide array of business-to-business equipment financing to organizations of many sizes and types, focusing on four distinct markets: businesses of all sizes in the U.S.; equipment manufacturers, distributors and value-added resellers; federal, provincial, state and local governments, as well as other public sector organizations; and lease advisory and syndications support for corporations looking to optimize risk and revenue.
Keystone Equipment Leasing and Finance offers equipment leasing and financing to established businesses (two years plus), and its application procedure usually requires no financial statements or tax returns for equipment up to $100,000. Medical practices are encouraged to apply, even as startups.
For artists seeking funding for any creative project, Kickstarter is a solid choice. As long as it is creative, Kickstarter can help you launch a campaign to raise funds for your project.
Kiva is a nonprofit that provides entrepreneurs with access to capital through person-to-person lending. Small businesses have the opportunity to raise up to $10,000 in capital with no interest or fees. Through Kiva, anyone who wants to support small business growth and local job creation can choose to lend $5 or more to a small business of their choice.
LeaseQ offers instant quotes on a free, cloud-based SaaS platform for borrowers looking to finance equipment. The company specializes in deals under $250,000, and it partners with equipment dealers and leasing companies across a variety of industry segments. With LeaseQ, you can compare and prioritize lease quotes by monthly payment or total amount and see all related fees.
LENDonate is an open, online lending platform that unites qualified nonprofits with lenders for quick funding of high quality, low-cost loans. The platform enables nonprofits to secure financing from previously untapped sources, receiving attractive loan rates and donations. Uniquely, marketplace and philanthropic lenders join forces to fund major projects in ways that fulfill both their financial and charitable goals.
Lending Club is an online credit marketplace that connects investors and businesses. As such, it provides alternative loans up to $300,000, often with low interest rates and fewer requirements than traditional banks.
LendingTree connects consumers to lenders that compete for their business. LendingTree lenders offer an array of loan types, including business loans. The loan amount approved for a business is based on several key factors, such as how long the company has been in business, its annual revenue and its credit score.
Lendio is an online service that helps small businesses quickly find the right business loan. It makes business loans by matching qualified small business owners with active banks, credit unions and other lending sources.
Lendza connects businesses with funding partners for a variety of loan options, including accounts receivable financing, acquisition funding, lines of credit, real estate financing, equipment financing, franchise loans, merchant cash advances, SBA loans and traditional term business funding. Lendza helps businesses find loans of up to $350,000. Once it finds you a partner, Lendza guides you through the process of obtaining financing for your business.
Liberty Capital Group offers a wide variety of business funding programs, including conventional business loans, SBA loans, commercial real estate loans, equipment and machinery financing, lines of credit, asset-based financing, and low-credit financing. Applications can be completed in two minutes, with funding available for some loans as quickly as within 24 hours.
Based in Philadelphia, Liberty SBF can provide SBA 504 loans, conventional or bridge loans to small businesses. It can provide funding for complex situations and transactions, including debt refinancing, quick-close acquisitions, and partner buyouts.
LiftForward operates a marketplace loan platform that provides loans to small businesses of up to $1 million. Funds can be used for asset purchases, purchase-order financing, or working capital with terms ranging from three to 36 months. Utilizing technology and its proprietary LiftSCORE, LiftForward can quickly underwrite loans and get businesses the money they need in as little as 48 hours. Using an online calculator, you can quickly see what your payment might be for your loan amount and term.
If your business is stable, LoanBuilder lets you tailor your own business loan on its platform.
LoanMe offers unsecured installment loans to small businesses in 29 states. Small business loans typically range from $3,500 to $250,000, although the minimum loan varies by location.
Localstake is an equity crowdfunding site with a focus on local businesses and advisors to help you with all the paperwork and planning.
LQD Business Finance is a small business lending firm. Unlike traditional banks and other alternative lenders, LQD can approve a loan that is tailored to a client's needs, in just a matter of days. The lender uses custom technology to provide small businesses with quick, convenient and affordable business loans. LQD offers loans for expansion, acquisition and working capital, as well as accounts receivable financing.
Marlin is an equipment financing company that is funded by its subsidiary, Marlin Business Bank. It has over 15 years of experience, and provides services to customers across the United States. It has funded over $4 billion to small and mid-sized businesses since 1997.
Med One offers flexible financing solutions to small and middle-market companies looking to acquire the equipment to operate their business. The company offers customized leasing programs for both medical and commercial equipment. Med One partners with manufacturers, distributors and product resellers across a variety of industries. Some of its unique lease options are deferred payments, step-up payments, operating leases and capital leases.
Merchant Advisors offers an assortment of loan types, including small business loans, working capital loans, restaurant loans, bad-credit loans, cash advances, SBA loans, restaurant equipment leasing, lines of credit, franchise financing, 401(k) business funding and home-based business loans.
MyEvent is a fundraising site available for personal, group, sport and event fundraising. With three different plan options to choose from based on your fundraiser, this service has a wide variety of features to cover a multitude of needs.
National Business Capital provides a variety of business financing options, including equipment leasing and financing, small business loans, lines of credit, accounts receivable financing and funding, commercial mortgage financing, SBA loans, purchase-order financing, franchise financing, and doctor, medical and physician loans.
National Funding offers small businesses a range of financial services and products, including working capital loans and merchant cash advances. The company's working capital loans for small businesses require no pledge of personal assets.
The NDC Grow America Fund is the small business lending arm of the National Development Council, a nonprofit that provides many services such as job training and affordable housing programs. Through the Grow America Fund, it provides SBA 7(a) small business loans to businesses in underserved areas, particularly those that create jobs and are owned by minorities and women.
Newtek offers long-term loans, lines of credit and commercial real estate loans for businesses in all major industries.
North Shore Funding Co. specializes in commercial bridge loans and commercial hard money loan programs. This lender focuses on funding loan applicants as quickly as possible. North Shore Funding Co. provides a wide range of funding options depending on the type of project or investment you want to make.
OCM Financial Group provides capital equipment leasing to a wide range of businesses. It helps businesses finance or lease new equipment, as well as refinance existing equipment. This includes any type of capital equipment your business might use in manufacturing and retail applications.
Onevest is an equity crowdfunding site that takes a hands-on approach to attracting investors for your business. It has a thorough vetting system to evaluate businesses. If you qualify, it not only posts your company's case on its site, but it also works to recruit accredited investors through other means.
Opportunity Fund is a nonprofit small business lender that offers small business, micro, commercial vehicle and mobile food truck loans. The loans range from $2,500 to $250,000.
P2Binvestor (P2Bi) provides crowdsourced, asset-secured working capital of up to $10 million per borrower to U.S.-based growth companies. P2Bi's revolving lines of credit are secured by accounts receivable and/or inventory. Accredited investors participate in funding each line of credit and earn a return through P2Bi's proprietary investment platform.
Patch of Land is a nationwide crowdfunding company that offers funding from different investors around the country instead financing bridge loans from a traditional group of lenders within one entity. Investors can choose which project they want to fund after Patch of Land approves them. Through its unique crowdfunding options, Patch of Land can provide you funding without the long wait times that you can experience with traditional lenders.
Patreon is a personal crowdfunding website that encourages people to donate a steady monthly stipend to you in exchange for access to your content and any benefits you might give. This site is for artists of all kinds, from cartoonists to photographers to YouTubers. It is, however, geared for the creation and distribution of creative content.
PayPal offers both term loans and working capital loans to small businesses with a PayPal Business account.
Pozible is an international crowdfunding website that helps individuals, startups and non-profits fund projects. It accepts pledges in multiple currencies and formats, including bitcoin, and has a graduated fee scale. This crowdfunding site requires that projects reach their full funding goal, or no money changes hands.
Prompt Advance Lending offers business cash advances based on a business's average gross monthly revenue. The amount you qualify for depends on your average monthly credit card processing receipts, or your average monthly check and cash deposits. Prompt Advance requires no collateral or personal guarantee and has no prepayment penalty.
QuarterSpot can deliver working capital into your account in as little as one business day. Applying is free and won't affect your credit score. In addition, this lender does not require personal guarantees or file a lien on collateral. To qualify, you must have been in business for one year, make at least $8,000 a month in sales and have a minimum personal credit score of 580.
Rapid Capital Funding offers merchant cash advances to businesses that make at least $10,000 per month in gross revenue.
RCN Capital helps communities grow through residential bridge loans. This lender enables real estate investors to purchase both residential and commercial properties in time-sensitive situations. RCN provides nationwide coverage and encourages projects that have a positive impact on communities – such as raising local property values and promoting job growth – through its residential rehabilitation programs.
Reliant Funding provides various loans for small business owners, including both quick-cash and long-term options.
RocketHub offers crowdfunding with no restrictions to the reason for which you can raise funds. With this personal crowdfunding site, you keep everything you raise, so even if you do not reach your goal, you still are that much closer. RocketHub offers a unique experience as well with its partnership with the A&E network, which gives certain select campaigns opportunities to reach a larger audience.
Santander offers a complete suite of borrowing solutions to help small business owners manage and expand their companies, including lines of credit, term loans, equipment leasing and commercial mortgage loans. Santander has an easy application process, makes decisions in a timely manner, and offers competitive terms and rates.
SeedInvest, and equity crowdfunding site, lets businesses raise capital contributed by accredited investors seeking to help you grow your company, unlike other sites that focus more on individual ideas. While there is no limit to the industry, typical companies that use this crowdfunding platform are technological or consumer businesses, and most business are seeking anywhere between $100,000 and $5 million dollars.
Shield Funding is an alternative lender specializing in bad-credit business loans. To be eligible, you must have been in business for at least four months, and have bank receipts or accept credit cards as a form of payment. A minimum of $5,000 per month in gross revenues is required for companies that accept credit cards, and approximately $20,000 a month in gross revenue is required for those that do not. Shield Funding provides business cash advances and unsecured business loans of up to $500,000 for a variety of purposes.
Silver Rock Funding is not a lender, but rather a broker to help businesses get the funding they need. After a business submits a completed application, a dedicated funding manager works with the business to identify a product that suits that company best. Silver Rock Funding then finds a lender in its network, usually within 24 hours of the application submission. The process is free, and there is no obligation to accept a loan. After a loan is accepted, funds are available within 72 hours.
SMB Compass aims to quickly deliver flexible business loans to small businesses. The company offers eight different loan programs and works with over 10 different industries.
Small Business Loans Depot offers an assortment of loan types, including bank statement loans, small business loans, working capital loans, equipment loans and equipment refinance loans. Loans are available for $5,000 to $150,000. The amount for which a business qualifies depends on business and personal credit, time in business, the amount of equipment owned, and gross sales.
SmartBiz is an online marketplace that specializes in providing SBA 7(a) loans for small businesses. It conforms to the regulations established by the Small Business Administration, and its banking partners are SBA preferred lenders. SmartBiz automatically deducts your monthly repayment from your bank account, which ensures that your payments are made in full and on time.
SnapCap provides alternative loans to small businesses and startups without requiring time in business or collateral. It offers loans for four different business situations and promises competitive rates and terms.
South End Capital offers competitively low interest rates on bridge loans. This lender offers nationwide coverage as long as you secure the loan with commercial or residential property.
Square Capital is a merchant cash advance service that doesn't have minimum credit card sale requirements for you to get a loan.
StreetShares offers small business and government contract financing solutions with a focus on veterans and their communities. Business owners can get preapproved in minutes and access funds within a week. Investors can also purchase Veteran Business Bonds to support StreetShares' portfolio of small businesses, which see a fixed annual return of 5 percent.
Sure Funding Solutions is a small business financing company that offers loans of up to $500,000, business cash advances and accounts receivable financing. Sure Funding Solutions offers flexible payment options, no early or late payment penalties, no application fees, and 24-hour approvals.
Swift Capital offers high dollar amount cash advances for both businesses and individuals. Find out more by reading the full review.
Taycor Financial is a fiscally sound and economically responsible nationwide provider of equipment leasing and financing to the business community. The company offers commercial and technology financing, business financing, and vendor partnerships.
TD Bank is traditional lender that offers different types of financing for small businesses that qualify. Business owners can take out lines of credit, commercial mortgages, term loans and SBA loans. TD Bank can also assist with various other types of financing.
Tetra is a commercial rental company that specializes in lease options for business and office equipment. Rather than going through a bank for a loan to purchase equipment outright, Tetra will lease you the equipment with terms that fit into your business budget.
The Business Backer can help you secure funds through a revolving line of credit, factoring services and assistance in getting a traditional loan. In addition, it offers alternative loans for purchases and can create a loan deal specific to your company's niche and needs. It also has equipment-leasing services.
Thrinacia is a crowdfunding platform with customizable white-label options and a variety of features for portal websites. It also allows for social integration and Stripe Connect support for payments.
TimePayment is an equipment leasing company that specializes in transactions with selling prices between $500 and $100,000. Through its network of more than 10,000 independent vendors, and utilizing its multilevel credit-scoring model, TimePayment can approve a wide range of customers, from large corporations to small businesses, including new entities.
Featured on Shark Tank, Total Merchant Resources offers alternative lending to small businesses.
TradeUp is a global equity crowdfunding service, connecting businesses thousands of accredited investors. You can raise between $100,000 and $20 million to grow your business. Accepted industries include tech, electronics, lumber, and food and beverage. This site focuses on U.S.-based companies that are currently selling internationally or are ready to expand internationally.
United Capital Source offers a variety of loan types, with amounts of $5,000 to $2 million. Businesses with bad credit are not automatically eliminated from loan consideration, and it can grant approvals in as little as 24 hours. United Capital Source's loans are unsecured and don't require a personal guarantee or collateral.
U.S. Bank can work with you to create an equipment financing package or business loan with terms tailored to your company's needs.
VEDC is a nonprofit alternative lender providing SBA Community Advantage loans as well as several small business direct loan programs. The organization provides loans and microfinancing options to small businesses, particularly those owned by women and minorities, that don't qualify for traditional bank financing. As a certified Community Development Financial Institution, VEDC's mission is to help create jobs and promote economic development in underserved communities.
ViewRidge Funding is a provider of working capital loans up to $250,000 and equipment financing for businesses throughout the United States. To access the funding, businesses must complete a few questions online or call one of ViewRidge Funding's account executives, who will guide them through a one-page application to secure the funding or equipment they need within as little as two business days.
WG Financing is a merchant cash advance provider. It requires little or no collateral, and average or bad credit is OK. Cash advances of up to $1 million are available.
Wells Fargo's small business loan options are ideal for growing businesses and established small businesses alike. The company offers three main types of term loans: unsecure loans, equipment financing and working capital loans. Wells Fargo has a convenient online application process, and often deposits funds the same day you're approved.
Balboa Capital is an alternative lender that provides loans for small and midsize businesses. Small business owners can choose from several different types of loans, including standard small business loans, equipment leasing, commercial financing, vendor financing, franchise funding and business cash advances. For the majority of its loan products, Balboa caps its lending amount at $250,000.
If your business is stable, LoanBuilder lets you tailor your own business loan on its platform.
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