9 Large Business Loans: Best Options for $500,000+
Large loans can be used for major investments in your business. You may need to meet strict criteria to qualify.
Large business loans provide funding of $500,000 or more. These small-business loans
Although eligibility criteria vary, many large business loans require you to meet strict qualifications, such as good credit and multiple years in operation. You may also need to provide collateral to secure financing.
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Max loan amount
$5,000,000
Min. credit score
650
Min. annual revenue
Undisclosed
See Your Loan Options with Fundera by NerdWallet
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
SBA 7(a) loan
Best for established businesses that can’t qualify for bank financing
Max loan amount
$5,000,000
Min. credit score
650
Min. annual revenue
Undisclosed
with Fundera by NerdWallet
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
Max loan amount
$500,000
Min. credit score
600
Min. annual revenue
$250,000
with Fundera by NerdWallet
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Short-term loans require daily or weekly repayment.
- Requires higher annual revenue than other online lenders.
- Misleading website marketing: National Funding offers only short-term loans and equipment financing/leasing.
- Charges an origination fee.
National Funding - Online term loan
Best for startups
Max loan amount
$500,000
Min. credit score
600
Min. annual revenue
$250,000
with Fundera by NerdWallet
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Short-term loans require daily or weekly repayment.
- Requires higher annual revenue than other online lenders.
- Misleading website marketing: National Funding offers only short-term loans and equipment financing/leasing.
- Charges an origination fee.
Max loan amount
$1,500,000
Min. credit score
570
Min. annual revenue
$240,000
with Fundera by NerdWallet
Pros
- Cash can be available quickly.
- Get a discount for prepaying.
- No collateral required.
- Low minimum credit score requirement.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Can’t build business credit.
- Longest loan term is 18 months.
- Charges an origination fee.
Fora Financial - Online term loan
Best for flexible requirements
Max loan amount
$1,500,000
Min. credit score
570
Min. annual revenue
$240,000
with Fundera by NerdWallet
Pros
- Cash can be available quickly.
- Get a discount for prepaying.
- No collateral required.
- Low minimum credit score requirement.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Can’t build business credit.
- Longest loan term is 18 months.
- Charges an origination fee.
Max loan amount
$500,000
Min. credit score
660
Min. annual revenue
$50,000
with Fundera by NerdWallet
Pros
- Cash can be available within two business days.
- Competitive rates among online lenders.
- Terms up to five years.
- iBusiness Funding also offers SBA loans up to $5 million.
Cons
- Charges an origination fee.
- Must be in business for a minimum of 24 months.
- Minimum credit score is higher than some other lenders.
iBusiness Funding - Online term loan
Best for long-term financing
Max loan amount
$500,000
Min. credit score
660
Min. annual revenue
$50,000
with Fundera by NerdWallet
Pros
- Cash can be available within two business days.
- Competitive rates among online lenders.
- Terms up to five years.
- iBusiness Funding also offers SBA loans up to $5 million.
Cons
- Charges an origination fee.
- Must be in business for a minimum of 24 months.
- Minimum credit score is higher than some other lenders.
Max loan amount
$10,000,000
Min. credit score
650
Min. annual revenue
$100,000
with Fundera by NerdWallet
Pros
- Same-day funding available.
- Prepayment discounts available.
- Large maximum funding amounts.
- Accessible to startups.
Cons
- Higher credit score requirement than some online lenders.
- Repayment terms max out at 24 months.
- Charges an origination fee.
altbanq - Online term loan
Best for fast financing
Max loan amount
$10,000,000
Min. credit score
650
Min. annual revenue
$100,000
with Fundera by NerdWallet
Pros
- Same-day funding available.
- Prepayment discounts available.
- Large maximum funding amounts.
- Accessible to startups.
Cons
- Higher credit score requirement than some online lenders.
- Repayment terms max out at 24 months.
- Charges an origination fee.
Max loan amount
$500,000
Min. credit score
600
Min. annual revenue
$120,000
with Fundera by NerdWallet
Pros
- Cash can be available in as little as 24 hours.
- Can get a discount for prepaying your loan.
Cons
- Rates can be high compared with traditional banks.
- May have to pay an origination fee.
Fundomate- Business funding
Best for merchant cash advances
Max loan amount
$500,000
Min. credit score
600
Min. annual revenue
$120,000
with Fundera by NerdWallet
Pros
- Cash can be available in as little as 24 hours.
- Can get a discount for prepaying your loan.
Cons
- Rates can be high compared with traditional banks.
- May have to pay an origination fee.
Pros
- Funding available within 48 hours.
- Competitive rates and repayment terms.
- Flexible payment options available, including deferment options for certain industries.
- No down payment required.
- Can be used to build business credit.
Cons
- Must have good credit to qualify for no prepayment penalties.
- Charges an origination fee.
JR Capital - Equipment financing
Best for equipment financing
Max loan amount
$10,000,000
Min. credit score
620
Min. annual revenue
Undisclosed
Pros
- Funding available within 48 hours.
- Competitive rates and repayment terms.
- Flexible payment options available, including deferment options for certain industries.
- No down payment required.
- Can be used to build business credit.
Cons
- Must have good credit to qualify for no prepayment penalties.
- Charges an origination fee.
Pros
- Low down payment required.
- Repayment terms of up to 25 years.
- Competitive interest rates.
Cons
- Must meet job creation or public policy goals to qualify.
- Longer processing times than online lenders.
SBA CDC/504 loan
Best for commercial real estate loans
Max loan amount
$5,000,000
Min. credit score
680
Min. annual revenue
Undisclosed
Pros
- Low down payment required.
- Repayment terms of up to 25 years.
- Competitive interest rates.
Cons
- Must meet job creation or public policy goals to qualify.
- Longer processing times than online lenders.
Pros
- Bank credit line with competitive interest rates.
- Large maximum line limit of $500,000.
- Can apply online for up to $250,000.
Cons
- Must have a Chase Business Banking account to apply online.
- Not available in Alaska and Hawaii.
- Annual fee may apply.
- Limited information on terms and fees available online.
Chase - Business line of credit
Best for covering cash flow needs
Max loan amount
$500,000
Min. credit score
700
Min. annual revenue
Undisclosed
Pros
- Bank credit line with competitive interest rates.
- Large maximum line limit of $500,000.
- Can apply online for up to $250,000.
Cons
- Must have a Chase Business Banking account to apply online.
- Not available in Alaska and Hawaii.
- Annual fee may apply.
- Limited information on terms and fees available online.
A closer look at the best business loans over $500,000
SBA 7(a)
Best for established businesses that can’t qualify for bank financing
When should you get a large SBA 7(a) loan?
If you can qualify for — and wait for — an SBA loan, the competitive interest rates and favorable terms are worth it, especially since you are borrowing in large amounts. However, because interest rates and terms for loans from traditional banks tend to be better, SBA loans are generally a next-best option. SBA loans can take longer to qualify for than many other business loans, so you’ll want to make sure your funding timeline works with whatever project you are financing.
Is collateral required?
For 7(a) loans over $350,000, the SBA requires lenders to secure the full loan amount using the assets that are being purchased or improved with the 7(a) loan, plus other business assets if necessary. The SBA also requires a personal guarantee from anyone who owns more than 20% of the business.
National Funding
Best for startups
When should you get a large business loan from National Funding?
If you can’t qualify for traditional funding because your business has been in operation for less than a year, but you have strong revenue, National Funding is worth considering. This lender will work with businesses that have been operating for only 6 months. You don’t need to have stellar credit, but you’ll want to make sure your cash flow can support daily or weekly payments.
Is collateral required?
No.
Fora Financial
Best for flexible requirements
When should you get a large business loan from Fora Financial?
Fora Financial may approve you for financing with a credit score as low as 570. You may also be able to get approved in as little as four hours, with funding as quickly as 24 hours later. It lends up to $1.5 million with no restrictions on the use of the funds.
Fora allows you to borrow more once you’ve paid off 60% of your loan, almost like a line of credit. That may help you finance a large project in waves if you can’t qualify for the full amount all at once. Fora also offers prepayment discounts, which is even more incentive for you to pay down the loan as fast as possible.
Is collateral required?
No.
iBusiness Funding
Best for long-term financing
When should you get a large business loan from iBusiness Funding?
iBusiness Funding, which acquired Funding Circle in 2024, can help you access loans with terms up to 60 months much faster than a bank or other SBA lender. An 60-month term is long compared with many other online lenders, and longer terms can help lower monthly payments to make your purchase more affordable.
Is collateral required?
No.
Altbanq
Best for fast financing
When should you get a large business loan from Altbanq?
Is collateral required?
No.
Fundomate
Best for merchant cash advances
When should you get a large business loan from Fundomate?
If you need fast financing to seize a business opportunity or cover an unexpected expense, Fundomate may let you borrow up to $500,000 in as fast as one to three business days with minimal paperwork required. Fundomate also garners lots of positive feedback from customers who reviewed it on Trustpilot
Is collateral required?
No.
JR Capital Equipment Financing
Best for equipment financing
When should you get a large business loan from JR Capital?
If you need a loan to purchase large, high-value equipment, you should look for equipment lenders or lenders who have experience with financing equipment. JR Capital can finance up to $10 million in equipment, and you don’t need to have stellar credit.
Is collateral required?
JR Capital uses the equipment being financed as collateral for the loan. Additional collateral is not required.
SBA 504 loan
Best for commercial real estate loans
When should you get a large SBA 504 loan?
Because it’s explicitly stated in the qualification requirements, you should look at SBA 504 loans when you are purchasing large fixed assets like existing buildings or land, or large equipment. You can also use 504 loans for new construction or to refinance business debt.
Is collateral required?
The SBA requires that the property or equipment being acquired with a 504 loan is used as collateral. Lenders may ask for additional collateral according to their own practices.
Chase Business Line of Credit
Best for covering cash flow needs
When should you get a large business line of credit from Chase?
In general, a business line of credit is good to cover gaps in cash flow that occur on a regular basis because the revolving line allows you to borrow and pay as many times as you need to, up to a certain limit. You should get a Chase Business Line of Credit specifically if you have good personal credit and have been in business for a couple of years.
Is collateral required?
Yes.
What is a large business loan?
A large business loan typically offers $500,000 or more in funding. These loans are available from traditional and online lenders, and are usually used to finance large investments in your business, such as a new commercial property or tools and systems needed to fuel business growth. These types of loans tend to have long repayment terms and competitive interest rates, but can be harder to qualify for than smaller sized loans.
Types of large business loans
Many different types of business loans
SBA loans
The most popular type of SBA loan, the 7(a) loan, offers funding amounts up to $5 million. SBA 7(a) loans
SBA loans offer long repayment terms and competitive interest rates, but you’ll need multiple years in business, good credit and strong finances to qualify. In many cases, you’ll also need to secure a loan with physical collateral.
Business term loans
With a business term loan
Commercial real estate loans
Equipment loans
Secured business loans
Invoice factoring
The factoring company typically advances a percentage of the invoice amount, potentially up to 90%. Then, the company assumes responsibility for collecting repayment on your invoices. Once the factoring company
Because invoices serve as collateral for this type of financing, it can be easier to qualify for compared with other business loan options. Invoice factoring is a good option for business-to-business companies that have capital tied up in unpaid invoices.
Business lines of credit
A business line of credit
Because business lines of credit are generally used for working capital and short-term expenses, maximum funding amounts are usually lower than what you might get from a business term loan. Some lenders, however, typically banks, offer lines of credit in amounts of $500,000 or more.
Certain lenders may also offer SBA lines of credit
Pros and cons of large business loans
Pros
Provides funding for large business investments.
Typically have long repayment terms with monthly payment schedules.
May offer competitive interest rates.
Can be used to build business credit.
Cons
Can be harder to qualify for than smaller loans.
May need to be secured with physical collateral.
Monthly payments will be larger and you’ll likely pay more in interest over the lifecycle of the loan.
Large loans from banks and SBA lenders can be slow to fund, with lengthy application processes.
How to qualify for a large business loan
To qualify for a large business loan, you’ll often need:
- Good credit. A credit score of 690 or higher will help you access the most competitive options.
- Strong finances. It’s helpful to have annual revenue of $100,000 or more. Although not always required, lenders like to see profitability.
- Multiple years in business. Many large business loans require you to have at least two years in operation.
- Sufficient collateral. You may need to secure your loan with physical collateral, such as inventory, equipment or real estate.
How to get a large business loan
Here are steps you can follow to get a large business loan.
1. Understand your financing needs
Determine exactly how much capital you need and why you need it. You'll also want to calculate how much debt you can afford
2. Evaluate your qualifications
Lenders will typically use your personal credit score, annual revenue and time in business to underwrite your loan application. They may also consider how much collateral you can offer. You’ll usually need to meet strict criteria to qualify for a large business loan.
Although there are some large business loan options for startups and borrowers with bad credit, these may have higher interest rates and shorter terms, making them more difficult to repay.
By evaluating your business’s qualifications ahead of time, you’ll have a good sense of where you stand with different lenders, as well as ensure that getting a large business loan is the right decision for
3. Research and compare lenders
You’ll want to research and compare several different small-business lenders
You’ll also want to think about the lender’s application process, speed, customer service and reputation.
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If you’re a mid-sized business with large financing needs, you might look for lenders that offer a commercial lending division. Nerdy Tip
4. Complete and submit your application
The business loan application you need to complete will vary based on the lender and loan type. Because you’re asking for a large amount of funding, it’s likely that the lender will require more documentation in comparison with other business loans.
You may need to provide:
- Basic information about you and your business.
- Personal and business bank statements.
- Personal and business tax returns.
- Business financial statements.
- Information about your collateral.
- Existing
business debt schedule
When applying for real estate financing, you’ll need to provide a valuation of the property you’re looking to purchase or upgrade. Similarly, equipment loans will likely require an equipment quote.
5. Review the loan agreement and get funds
It may take anywhere from a few days to several months to receive approval for a loan application. Banks and SBA lenders will have a slower underwriting and funding process compared with online lenders.
Once you receive approval, your lender will provide you with a business loan agreement
If you have questions or concerns, you’ll want to contact your lender for clarification before signing. After you’ve signed the agreement, your lender will transfer your funds.
» MORE: How to get a business loan
Alternatives to large business loans
Crowdfunding ownership in your company Angel investors
Frequently asked questions
What is the largest business loan you can get?
Is it easy to get a large business loan?
How can you get a large business loan with no money?
Methodology
NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
To come up with our list of the best large business loans, we selected lenders that offer a maximum loan amount of $500,000 or more.
Our star ratings award points to lenders that offer small-business friendly features, including:
- Transparency of rates and terms.
- Flexible payment options.
- Fast funding times.
- Accessible customer service.
- Reporting of payments to business credit bureaus.
- Responsible lending practices.
We weigh these factors based on our assessment of which are the most important to small-business owners and how meaningfully they impact borrowers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodology for small-business loans editorial guidelines