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 9 large business loans
| Lender | NerdWallet Rating▼ | Max loan amount▼ | Min. credit score▼ | Next steps |
|---|---|---|---|---|
SBA 7(a) loan with Fundera by NerdWallet | Best for Large government business loans | $5,000,000 | 650 | with Fundera by NerdWallet |
SBA CDC/504 loan | Best for Large commercial real estate loans | $5,000,000 | 680 | Read Review |
Fora Financial - Online term loan with Fundera by NerdWallet | 4.7/5 Best for Fast approval | $1,500,000 | 570 | with Fundera by NerdWallet |
iBusiness Funding - Online term loan with Fundera by NerdWallet | 4.2/5 Best for Long term lengths | $500,000 | 660 | with Fundera by NerdWallet |
National Funding - Online Term Loan with Fundera by NerdWallet | 4.3/5 Best for Startups | $500,000 | 600 | with Fundera by NerdWallet |
JR Capital Equipment Financing with Fundera by NerdWallet | 4.1/5 Best for Large equipment loans | $10,000,000 | 620 | with Fundera by NerdWallet |
AltLINE - Invoice Factoring | 4.7/5 Best for Invoice factoring | $5,000,000 | 300 | Read Review |
Bank of America Business Advantage Unsecured Term Loan | 5.0/5 Best for Business bank loans | Undisclosed | 700 | Read Review |
Chase - Business line of credit | Best for Business lines of credit | $500,000 | 700 | Read Review |
Here are 9 large business loans
Best for Large government business loans
Best for Large commercial real estate loans
Best for Fast approval
Best for Long term lengths
Best for Startups
Best for Large equipment loans
Best for Invoice factoring
Best for Business bank loans
Best for Business lines of credit
I'M INTERESTED IN:
Our pick for
Large government business loans
SBA 7(a) loans can provide government-guaranteed funding up to $5 million. So far in fiscal year 2024, 19.5% of all 7(a) loans issued were in amounts greater than $500,000.
SBA 7(a) loan
Max loan amount
$5,000,000
Min. credit score
650
Est. APR
10.75-14.25%
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
Low interest rate
SBA 7(a) loan
Max loan amount
$5,000,000
Min. credit score
650
Est. APR
10.75-14.25%
SBA 7(a) loans can provide government-guaranteed funding up to $5 million. So far in fiscal year 2024, 19.5% of all 7(a) loans issued were in amounts greater than $500,000.
7(a) loans are issued by private lenders and backed by the SBA. They offer long repayment terms and low interest rates.
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
Qualifications:
- For-profit U.S. business.
- Unable to access credit on reasonable terms from nongovernment sources.
- Financial qualifications determined by individual lender.
Low interest rate
Our pick for
Large commercial real estate loans
SBA 504 loans are designed specifically for the purchase and upgrade of major fixed assets. Although most 504 loans are up to $5 million, small manufacturers and select projects may qualify for up to $5.5 million.
SBA CDC/504 loan
Max loan amount
$5,000,000
Min. credit score
680
Est. APR
5.00-7.00%
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
Max loan amount
$5,000,000
Min. credit score
680
Est. APR
5.00-7.00%
SBA 504 loans are designed specifically for the purchase and upgrade of major fixed assets. Although most 504 loans are up to $5 million, small manufacturers and select projects may qualify for up to $5.5 million.
SBA 504 loans are designed to promote business growth and job creation through the purchase or upgrade of major fixed assets.
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.
Qualifications:
- Be a for-profit U.S. business.
- Net worth of less than $15 million.
- Average net income of less than $5 million for the two years prior to your application.
- Financial qualifications determined by individual lender.
Our pick for
Fast approval
Fora Financial offers working capital loans of up to $1.5 million with flexible qualification requirements. You may be able to qualify with a personal credit score of 570 or higher.
Fora Financial - Online term loan
Max loan amount
$1,500,000
Min. credit score
570
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
Max loan amount
$1,500,000
Min. credit score
570
Fora Financial offers working capital loans of up to $1.5 million with flexible qualification requirements. You may be able to qualify with a personal credit score of 570 or higher.
Fora Financial can be a good fit for borrowers who may fall short of qualifying for traditional bank financing or young but established small businesses looking for speedy financing.
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.
Qualifications:
- In business for at least six months.
- At least $20,000 per month in revenue.
- No open bankruptcies or dismissed bankruptcies within the past year.
Our pick for
Long term lengths
iBusiness Funding (formerly Funding Circle) provides fast financing up to $500,000. Repayment terms are available up to seven years.
iBusiness Funding - Online term loan
Max loan amount
$500,000
Min. credit score
660
Est. APR
15.22-45.00%
Pros
- Cash can be available within two business days.
- Competitive rates among online lenders.
- Terms up to seven 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.
May fund quickly
iBusiness Funding - Online term loan
Max loan amount
$500,000
Min. credit score
660
Est. APR
15.22-45.00%
iBusiness Funding (formerly Funding Circle) provides fast financing up to $500,000. Repayment terms are available up to seven years.
iBusiness Funding acquired Funding Circle in 2024. Its online term loan is an option for established businesses that are financing an expansion or refinancing debt.
Pros
- Cash can be available within two business days.
- Competitive rates among online lenders.
- Terms up to seven 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.
Qualifications:
- Minimum credit score: 660.
- Minimum time in business: 24 months.
- Minimum annual revenue: $50,000.
- No bankruptcies in the past seven years.
May fund quickly
Our pick for
Startups
National Funding’s unsecured business loans are available in amounts up to $500,000 for companies that have at least six months in operation.
National Funding - Online Term Loan
Max loan amount
$500,000
Min. credit score
600
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
Max loan amount
$500,000
Min. credit score
600
National Funding’s unsecured business loans are available in amounts up to $500,000 for companies that have at least six months in operation.
Borrowers who can't qualify for more traditional loan options might consider National Funding for fast access to capital.
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.
Qualifications:
- Minimum credit score: 600.
- Minimum time in business: Six months.
- Minimum annual revenue: $250,000.
Our pick for
Large equipment loans
JR Capital can fund equipment loans of up to $10 million. These loans can be used for a variety of new or used equipment purchases.
JR Capital Equipment Financing
4.1
NerdWallet rating with Fundera by NerdWallet
Max loan amount
$10,000,000
Min. credit score
620
Est. APR
6.99-18.00%
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.
Cons
- Must have good credit to qualify for no prepayment penalties.
- Charges an origination fee.
JR Capital Equipment Financing
NerdWallet rating
4.1/5
Max loan amount
$10,000,000
Min. credit score
620
Est. APR
6.99-18.00%
JR Capital can fund equipment loans of up to $10 million. These loans can be used for a variety of new or used equipment purchases.
JR Capital provides fast equipment loans and leases, specializing in trucks, trailers and heavy equipment.
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.
Cons
- Must have good credit to qualify for no prepayment penalties.
- Charges an origination fee.
Qualifications:
- Minimum credit score: 620.
- Minimum time in business: Typically 24 months, but can prioritize industry experience in some cases.
- No minimum annual revenue requirement.
Our pick for
Invoice factoring
AltLINE evaluates eligibility based on the value of your invoices and creditworthiness of your customers. As a result, its factoring can be easier to qualify for than other loan options.
AltLINE - Invoice Factoring
Max loan amount
$5,000,000
Min. credit score
300
Pros
- Capital available within 24 to 48 hours.
- No collateral required.
- Manages payment collection from your customers.
- Accepts startups and businesses with bad credit.
Cons
- Fees can become expensive the longer it takes your customers to pay.
- Difficult to compare factoring costs to other types of business loans.
- Charges an origination fee.
AltLINE - Invoice Factoring
Max loan amount
$5,000,000
Min. credit score
300
AltLINE evaluates eligibility based on the value of your invoices and creditworthiness of your customers. As a result, its factoring can be easier to qualify for than other loan options.
AltLINE offers fast invoice factoring with competitive factoring rates.
Pros
- Capital available within 24 to 48 hours.
- No collateral required.
- Manages payment collection from your customers.
- Accepts startups and businesses with bad credit.
Cons
- Fees can become expensive the longer it takes your customers to pay.
- Difficult to compare factoring costs to other types of business loans.
- Charges an origination fee.
Qualifications:
- All credit scores may be accepted (ranging from 300 to 850).
- No minimum time in business requirement.
- No minimum annual revenue requirement.
- Must be a B2B business.
Our pick for
Business bank loans
Bank of America’s unsecured term loan offers competitive interest rates and repayment terms. The bank doesn't set a specific maximum for funding amounts.
Bank of America Business Advantage Unsecured Term Loan
Max loan amount
Undisclosed
Min. credit score
700
Pros
- Bank loan with competitive interest rates.
- No collateral required.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
Cons
- Can be slow to fund.
- Prepayment fees may apply to early repayments.
- Must be an existing Bank of America customer to apply online.
- Charges an origination fee.
Bank of America Business Advantage Unsecured Term Loan
Max loan amount
Undisclosed
Min. credit score
700
Bank of America’s unsecured term loan offers competitive interest rates and repayment terms. The bank doesn't set a specific maximum for funding amounts.
Bank of America’s term loan offers competitive interest rates and flexible repayment terms — with no collateral required.
Pros
- Bank loan with competitive interest rates.
- No collateral required.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
Cons
- Can be slow to fund.
- Prepayment fees may apply to early repayments.
- Must be an existing Bank of America customer to apply online.
- Charges an origination fee.
Qualifications:
- Minimum credit score: 700.
- Minimum time in business: 24 months.
- Minimum annual revenue: $100,000.
Our pick for
Business lines of credit
Chase’s business line of credit is available in amounts up to $500,000 with a five-year revolving term.
Chase - Business line of credit
Max loan amount
$500,000
Min. credit score
700
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
Max loan amount
$500,000
Min. credit score
700
Chase’s business line of credit is available in amounts up to $500,000 with a five-year revolving term.
Chase offers a revolving credit line that allows you to withdraw funds as needed, but you’ll typically need strong credit and at least two years in business.
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.
Qualifications:
- Minimum credit score: 700.
- Minimum time in business: Two years with some flexibility.
- Minimum annual revenue: Not disclosed
A closer look at the best business loans over $500,000
SBA 7(a)
Best for large government business loans
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. SBA loans can take many other business loans, so you’ll want to make sure your funding timeline works with whatever project you are financing.
For 7(a) loans over $50,000, 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.
SBA CDC/504 loan
Best for large commercial real estate loans
Because it’s explicitly stated in the qualification requirements, you should look at SBA CDC/504 loans when you are purchasing large fixed assets like existing buildings or land, or large equipment. You can also use CDC/504 loans for new construction.
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.
Fora Financial
Best for fast approval
If you need a fast decision on a large business loan, Fora Financial can get you an approval in as little as four hours, with funding as quickly as 72 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.
No.
iBusiness Funding
Best for long term lengths
iBusiness Funding, which acquired Funding Circle in 2024, can help you access loans with terms up to seven years much faster than a bank or other SBA lender. A seven-year term is long compared with many other online lenders, and longer terms can help lower monthly payments to make your purchase more affordable.
Yes, depending on the duration of your loan term and lending partner.
National Funding
Best for startups
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 six 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.
No.
JR Capital Equipment Financing
Best for large equipment loans
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, or be in business for a specific amount of time.
JR Capital uses the equipment being financed as collateral for the loan. Additional collateral is not required.
AltLINE
Best for invoice factoring
Invoice factoring is for B2B businesses who have cash tied up in their unpaid customer invoices. AltLINE's fees begin to accumulate every 30 days that an invoice that’s been financed isn’t repaid, so you’ll want to make sure there’s not too much of a gap with your customers.
No.
Bank of America Business Advantage Unsecured Term Loan
Best for business bank loans
As a bank loan, Bank of America’s Business Advantage unsecured term loan requires good credit (a score of 700 or above) to qualify. You should try with Bank of America if you could generally qualify for a bank loan, but don’t have collateral to offer.
No.
Chase Business Line of Credit
Best for business lines of credit
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.
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.
Types of large business loans
Many different types of business loans can provide large amounts of capital. Here are some of the most common options:
SBA loans
SBA loans are partially guaranteed by the U.S. Small Business Administration and issued by participating lenders, like banks and credit unions.
The most popular type of SBA loan, the 7(a) loan, offers funding amounts up to $5 million. SBA 7(a) loans can be used for a variety of purposes, including purchasing equipment, acquiring or improving real estate, buying a business and debt refinancing.
SBA 504 loans, on the other hand, must be used for large fixed asset purchases or improvements. These loans typically have maximum funding amounts of $5 million — although specific projects and small manufacturers may qualify for up to $5.5 million.
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, you borrow a lump sum of money from a lender and repay it over a specific period, with interest. Business term loans are available from banks and online lenders. Some types of business term loans are more likely to offer large loan amounts, such as:
Commercial real estate loans provide capital specifically for the purchase or renovation of commercial properties, such as offices, storefronts and warehouses. The amount of funding you’re eligible to receive is based on the loan-to-value ratio (LTV). LTV is calculated by dividing the loan amount by the value of the commercial property you own or are looking to purchase.
Similar to commercial real estate loans, equipment loans are used to purchase machinery or equipment for your business. Equipment financing may be available in amounts up to 100% of the value of the equipment you’re looking to purchase. The amount you receive, however, will vary based on your lender and qualifications.
A secured business loan is backed by physical collateral, such as equipment or real estate. The collateral you provide helps reduce the lender’s risk of loaning you money, which enables you to qualify for larger loan amounts and more competitive repayment terms.
Invoice factoring
Invoice factoring, also referred to as accounts receivable factoring, allows you to sell your unpaid invoices to a factoring company at a discount in exchange for an advance of capital.
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 receives payment from your customers, it sends you the difference, minus the agreed-upon fees.
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 provides access to flexible funding. You draw money from a set amount of funds and only pay interest on the money you borrow. After you’ve repaid these funds, you can continue to draw on the credit line.
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, which are available in amounts up to $5 million. Often, these products are designed for established companies with greater financing needs.
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.
Asset-based loan options — like invoice factoring or equipment financing — however, may have more flexible eligibility criteria. Because these products are inherently backed by collateral, they reduce the risk for the lender, and as a result, some lenders focus less heavily on traditional business loan requirements.
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. If you’re looking for a large amount of funding, you’ll likely have larger monthly payments. You want to make sure you have the necessary cash flow to manage payments before continuing your financing search.
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 to find the best option for your needs. You should consider factors such as available loan types, maximum funding amount, interest rates, fees and repayment terms.
You’ll also want to think about the lender’s application process, speed, customer service and reputation.
🤓 Nerdy Tip
If you’re a mid-sized business with large financing needs, you might look for lenders that offer a commercial lending division. Commercial loans are often designed for larger, high-revenue businesses. Through PNC Bank’s commercial division, for example, established businesses can access loans from $10 million to $1 billion.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, if applicable.
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 to review and sign. You should read the document carefully and make sure you understand the terms and conditions, as well as the repayment process.
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: Crowdfunding is a type of business financing that allows you to access capital without taking on debt. Crowdfunding takes place through online platforms on which you can pitch your business to potential backers, who give you cash in exchange for rewards or even ownership in your company.
- Angel investors: Angel investors are wealthy individuals who choose to invest in businesses in exchange for ownership stakes. A form of equity financing, angel investing can help you fund your business while avoiding taking on debt. You should be aware of how much you’re willing to dilute your business ownership though.
Frequently asked questions
SBA 7(a) and 504 loans offer some of the largest loan amounts, typically up to $5 million. Banks may also issue large business loans up to $1 million, but these offerings vary based on the bank and type of loan product, among other factors.
Loans of more than $5 million may be available from commercial lenders who cater toward mid-sized and high-revenue businesses.
It can be hard to get a large business loan if you don’t have good credit, strong finances and multiple years in business. You may also need to provide collateral. Although eligibility criteria vary by lender and loan type, many lenders ask you to meet stricter requirements to access larger loan amounts.
It’s unlikely that you’ll be able to get a large business loan without existing revenue. Large business loans typically have strict eligibility criteria, including monthly or annual revenue requirements. If you’re a new business that isn’t earning money yet, you’ll likely need to consider alternative options.
Learn more about how to get a business loan with no money.
Last updated on September 10, 2024
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.
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 and our editorial guidelines.
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.
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