How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Here are 4 business lines of credit
Lender | NerdWallet Rating | Max loan amount | Min. credit score | Next steps |
---|---|---|---|---|
Wells Fargo - Line of credit | 5.0/5 Best for Bank business lines of credit | $50,000 | 680 | Read Review |
Bluevine - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Business lines of credit for bad credit | $250,000 | 625 | with Fundera by NerdWallet |
OnDeck - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Unsecured business lines of credit | $100,000 | 625 | with Fundera by NerdWallet |
Fundbox - Line of credit | 5.0/5 Best for Startup business lines of credit | $150,000 | 600 | Read Review |
Here are 4 business lines of credit
Best for Bank business lines of credit
Best for Business lines of credit for bad credit
Best for Unsecured business lines of credit
Best for Startup business lines of credit
Our pick for
Bank business lines of credit
Wells Fargo offers business lines of credit of up to $50,000 that are well-suited for borrowers with strong credit. You may be able to qualify with less than two years in business.
Wells Fargo - Line of credit
Max loan
$50,000
Min. Credit score
680
Apr range
12.75-14.75%
Our pick for
Business lines of credit for bad credit
Bluevine offers fast funding up to $250,000 for borrowers with a credit score of 625 or higher.
Bluevine - Line of credit
Max loan
$250,000
Min. Credit score
625
Apr range
20.00-50.00%
Our pick for
Unsecured business lines of credit
OnDeck offers business lines of credit of up to $100,000 and doesn’t require physical collateral. Borrowers are subject to UCC blanket liens, however, and will be required to sign a personal guarantee.
OnDeck - Line of credit
Max loan
$100,000
Min. Credit score
625
Apr range
29.90-65.90%
Our pick for
Startup business lines of credit
Fundbox offers quick funding of up to $150,000 for borrowers with at least six months in business.
Fundbox - Line of credit
Max loan
$150,000
Min. Credit score
600
Apr range
10.10-79.80%
Business line of credit rates and fees
- Origination fee: Fee charged to process your application.
- Account maintenance fee: Monthly or annual fee associated with managing your account and keeping your business line of credit active.
- Draw fee: Fee charged each time you draw on your credit line.
- Inactivity fee: A lender may charge this fee if you don’t draw from your line of credit within a specified period of time.
Secured vs. unsecured business lines of credit
Business line of credit vs. credit card
Business line of credit | Business credit card |
Higher credit limit. | Lower credit limit. |
Provides actual cash in your bank account when you make a draw. | Cards are used for purchases; you can get cash, but you’ll be charged a cash advance fee to do so. |
May be secured by collateral. | Can be secured by collateral, but not as common. |
Doesn’t typically include rewards. | Often have rewards or cash back for spending; rewards are typically related to business expenses. |
No interest-free period. | May include 0% interest promotion, which allows you to pay no interest on your balance for a specific time period after signing up for the card. |
Lower interest rates than credit cards. | Higher interest rates than lines of credit. |
Business line of credit calculator
When you draw from a business line of credit, you only pay interest on the funds that you borrow. You then repay the funds over time, based on a schedule set by your lender.
Enter a withdrawal amount, repayment term and annual interest rate to estimate your monthly payment, total interest costs and the total amount repaid.
Banks and credit unions
Online lenders
1. Evaluate your financing needs
2. Review business line of credit requirements
3. Research and compare lenders
4. Gather required documents and apply
- Personal and business tax returns.
- Personal and business bank statements.
- Business financial statements (e.g., profit and loss statement or a balance sheet).
Find the right business loan
Methodology
Wondering if you qualify?
It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.