Best of
Best Small-Business Loans for Women 2019
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Online lenders provide small-business loans for women with average or bad personal credit, and newer businesses.
Easily get real, personalized small business loan rates to compare -- not just ranges or estimates.
It's free and won't affect your credit.
on Lendio's website
Our picks for
Average or bad personal credit

Kabbage - Line of credit
Est. APR
24.00 - 99.00%
Min. Credit Score
560
Pros
- Financing up to $250,000 available within a few days.
- Accepts low credit scores.
Cons
- Rates are high compared to other online lenders.
- Must have online checking or PayPal account to verify cash flow.
- Fixed-fee structure means early repayment does not save interest.
Qualifications
- Minimum credit score: 560.
- Minimum time in business: 1 year.
- Minimum annual revenue: $50,000.

QuarterSpot - Online term loan
Est. APR
30.00 - 70.00%
Min. Credit Score
550
Pros
- Requires low minimum credit score.
- Cash can be available within the same day.
- No prepayment penalty.
Cons
- Rates are high compared to other online lenders.
- Short loan terms.
- Requires personal guarantee.
Qualifications
- Minimum credit score: 550.
- Minimum time in business: 2 years.
- Minimum annual revenue: $200,000.
- Average at least 10 monthly revenue-producing deposits.
- Minimum $2,000 average daily account balance.

OnDeck - Online term loan
Est. APR
9.00 - 99.00%
Min. Credit Score
600
Pros
- Cash can be available within the same business day.
- Requires low minimum credit score.
- Less paperwork than most lenders.
Cons
- Fixed-fee structure means early repayment will not save interest.
- Requires frequent (daily or weekly) repayments.
- Requires business lien and personal guarantee.
Qualifications
- Minimum credit score: 600.
- Minimum time in business: 1 year.
- Minimum annual revenue: $100,000.
- No bankruptcies in the past 2 years.
Our pick for
Businesses 1 to 2 years old

StreetShares - Online term loan
Est. APR
8.00 - 39.99%
Min. Credit Score
600
Pros
- No prepayment penalty.
Cons
- Requires weekly repayments.
- Financing amounts limited to 20% of annual revenue.
Qualifications
- Minimum credit score: 600.
- Minimum time in business: 1 year.
- Minimum annual revenue: $25,000.
- No bankruptcies in the past 3 years.
Our picks for
Businesses older than 2 years

Credibility Capital - Online term loan
Est. APR
10.00 - 25.00%
Min. Credit Score
680
Pros
- Competitive rates among online lenders.
- No prepayment penalty.
- Extra monthly payments can save interest cost.
Cons
- Short repayment term results in higher payment amounts.
- Requires high minimum credit score and revenue.
- Requires business lien and may require personal guarantee.
- Not available in Nevada, North Dakota, South Dakota, or Vermont.
Qualifications
- Minimum credit score: 680.
- Minimum time in business: 2 years.
- Minimum annual revenue: $250,000.
- No bankruptcies in the past 5 years.

SmartBiz - SBA loan
Est. APR
9.28 - 10.52%
Min. Credit Score
650
Pros
- Competitive rates among online lenders.
- Faster than getting an SBA loan from a bank.
Cons
- Must have strong financials, supported by personal and business tax returns for the past 3 years.
- Stringent rules on use of proceeds.
- Requires business lien and personal guarantee.
Qualifications
- Minimum credit score: 650.
- Minimum time in business: 2 years.
- Minimum annual revenue: $50,000.
- No bankruptcies or foreclosures in the past 3 years.

Funding Circle - Online term loan
Est. APR
11.67 - 36.00%
Min. Credit Score
620
Pros
- Cash can be available within 3 business days.
- Competitive rates among online lenders.
- No minimum revenue requirement.
Cons
- Requires business lien and personal guarantee.
Qualifications
- Minimum credit score: 620.
- Minimum time in business: 2 years.
- Minimum annual revenue: None.
- No bankruptices in the past 7 years.
Easily get real, personalized small business loan rates to compare -- not just ranges or estimates.
It's free and won't affect your credit.
on Lendio's website
Summary of Best Small-Business Loans for Women 2019
Lender | Best For | Est. APR | Min. Credit Score |
---|---|---|---|
![]() Kabbage - Line of credit | Average or bad personal credit | 24.00 - 99.00% | 560 |
![]() QuarterSpot - Online term loan | Average or bad personal credit | 30.00 - 70.00% | 550 |
![]() OnDeck - Online term loan | Average or bad personal credit | 9.00 - 99.00% | 600 |
![]() StreetShares - Online term loan | Businesses 1 to 2 years old | 8.00 - 39.99% | 600 |
![]() Credibility Capital - Online term loan | Businesses older than 2 years | 10.00 - 25.00% | 680 |
![]() SmartBiz - SBA loan | Businesses older than 2 years | 9.28 - 10.52% | 650 |
![]() Funding Circle - Online term loan | Businesses older than 2 years | 11.67 - 36.00% | 620 |
Lender | Best For | Est. APR | Min. Credit Score |
---|---|---|---|
![]() Kabbage - Line of credit | Average or bad personal credit | 24.00 - 99.00% | 560 |
![]() QuarterSpot - Online term loan | Average or bad personal credit | 30.00 - 70.00% | 550 |
![]() OnDeck - Online term loan | Average or bad personal credit | 9.00 - 99.00% | 600 |
![]() StreetShares - Online term loan | Businesses 1 to 2 years old | 8.00 - 39.99% | 600 |
![]() Credibility Capital - Online term loan | Businesses older than 2 years | 10.00 - 25.00% | 680 |
![]() SmartBiz - SBA loan | Businesses older than 2 years | 9.28 - 10.52% | 650 |
![]() Funding Circle - Online term loan | Businesses older than 2 years | 11.67 - 36.00% | 620 |
Your business is less than a year old
It can be hard to qualify for a business loan if you haven’t been operating for at least a full year. Most lenders want to see a track record of strong finances, a solid direction for the business and an ability to repay debt.
But don’t fret if you’re just starting out; there are still financing options for startups, including microloans and crowdfunding.
If you have good personal credit, you may qualify for a personal loan for business. Most personal loans are unsecured, and some loan amounts go as high as $100,000.
Business credit cards also offer financing for small-business owners who are starting out or looking for working capital.
You have average or bad personal credit
If you have a low credit score (300 – 689), consider online lenders Kabbage, QuarterSpot or OnDeck. Borrowing costs may be high, but these lenders are good sources of speedy funds for emergency or short-term needs.
OnDeck provides term loans up to $500,000, with a minimum credit score of 600 required. However, you’ll also need a minimum of $100,000 in revenue and at least one year in business to qualify.
Your business is 1 to 2 years old
If your business has a bit of a track record and you have good credit, consider StreetShares or Credibility Capital.
StreetShares offers term loans to borrowers with personal credit scores of 600 or higher and annual revenue starting at $75,000. The company caps funding at 20% of your revenue, up to $250,000.
If you need more than $250,000, try Credibility Capital, which provides loans up to $400,000. It’s an option for borrowers who have good personal credit (680-plus), but fall short of traditional banks’ financing qualifications.
Your business is older than 2 years
If you have solid finances and an established business, consider an SBA loan or financing through SmartBiz and Funding Circle.
Women who own more than half of a small business received 14%, or $761 million, of the SBA 7(a) loans approved in 2018, according to the SBA.
SmartBiz typically provides faster funding than banks for SBA 7(a) loans. Low annual percentage rates starting around 10% and a 10-year loan term make SmartBiz an attractive option for business expansion loans.
Funding Circle offers an alternative if you don’t qualify for SBA loans or want funds quicker, as its loans are funded in 10 days on average.
Other resources for women entrepreneurs
Many organizations offer services and assistance to women entrepreneurs, including pro bono programs run by nonprofits and SBA-affiliated groups. These include programs that teach women how to start a business and train them in financial management and marketing.
Grants
Women-owned businesses can get help in the early stages through grants provided by government agencies and nonprofit organizations. Here are 10 places to look for small-business grants for women.
SBA Women’s Business Centers
The Women’s Business Centers are a network of nearly 100 educational centers around the United States that help women start and grow their businesses. These centers typically offer seminars and workshops on a range of topics, including how to start a business and raise capital.
National Association of Women Business Owners
The National Association of Women Business Owners, based in Washington, D.C., has 5,000 members and 60 chapters across the country. It offers training and information on topics such as access to capital, government contracting and business certification.
National Women’s Business Council
The National Women’s Business Council works with the Office of the President, Congress and the SBA on issues related to women business owners. Resources include help for startups, alternative lender programs, conferences and mentor groups.
WomanOwned
This network of more than 3.5 million women-owned businesses worldwide offers online business information and networking assistance. WomanOwned maintains a database where women can get information on loans, grants and other funding sources.
Compare small-business loans
When shopping for loans, compare APRs, which give the true cost of borrowing, including all fees. NerdWallet’s small-business loans comparison tool can help.
Last updated on November 21, 2019
To recap our selections...
NerdWallet's Best Small-Business Loans for Women 2019
- Kabbage - Line of credit: Best for Average or bad personal credit
- QuarterSpot - Online term loan: Best for Average or bad personal credit
- OnDeck - Online term loan: Best for Average or bad personal credit
- StreetShares - Online term loan: Best for Businesses 1 to 2 years old
- Credibility Capital - Online term loan: Best for Businesses older than 2 years
- SmartBiz - SBA loan: Best for Businesses older than 2 years
- Funding Circle - Online term loan: Best for Businesses older than 2 years