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 LLC loans
Lender | NerdWallet Rating | Max loan amount | Min. credit score | Next steps |
|---|---|---|---|---|
SBA 7(a) loan with Fundera by NerdWallet | Best for LLC SBA loans | $5,000,000 | 650 | with Fundera by NerdWallet |
TAB Bank - Term loan with Fundera by NerdWallet | Best for LLC bank loans | $200,000 | 650 | with Fundera by NerdWallet |
Credibility Capital - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Online loans for established LLCs | $500,000 | 650 | with Fundera by NerdWallet |
American Express Business Blueprint™ - Line of credit on American Express Business Blueprint™'s website | 4.5/5 Best for LLC lines of credit | $250,000 | 640 | on American Express Business Blueprint™'s website |
Bluevine - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Fast LLC loans | $250,000 | 625 | with Fundera by NerdWallet |
OnDeck - Online term loan with Fundera by NerdWallet | 5.0/5 Best for Short-term LLC loans | $250,000 | 625 | with Fundera by NerdWallet |
Fundbox - Line of credit with Fundera by NerdWallet | 5.0/5 Best for LLC startup loans | $150,000 | 600 | with Fundera by NerdWallet |
Triton Capital - Equipment financing with Fundera by NerdWallet | 4.0/5 Best for LLC equipment loans | $250,000 | 600 | with Fundera by NerdWallet |
Fora Financial - Online term loan with Fundera by NerdWallet | 4.5/5 Best for LLC loans for bad credit | $1,400,000 | 500 | with Fundera by NerdWallet |
Here are 9 LLC loans
Best for LLC SBA loans
Best for LLC bank loans
Best for Online loans for established LLCs
Best for LLC lines of credit
Best for Fast LLC loans
Best for Short-term LLC loans
Best for LLC startup loans
Best for LLC equipment loans
Best for LLC loans for bad credit
Our pick for
LLC SBA loans
SBA 7(a) loans have low interest rates, long repayment terms and high borrowing maximums. But getting approved and receiving funding can take anywhere from 30 days to a few months.
SBA 7(a) loan
Max loan
$5,000,000
Min. Credit score
650
Apr range
10.25-12.75%
Our pick for
LLC bank loans
TAB Bank’s term loan can be used for a variety of purposes. These loans have competitive interest rates, but you’ll need to be an established LLC with strong credit to qualify.
TAB Bank - Term loan
with Fundera by NerdWallet
Max loan
$200,000
Min. Credit score
650
Apr range
8.99-35.99%
with Fundera by NerdWallet
Our pick for
Online loans for established LLCs
Credibility Capital offers competitive interest rates and can approve and fund applications in as little as three to five business days. To qualify, you’ll need at least two years in business.
Credibility Capital - Online term loan
Max loan
$500,000
Min. Credit score
650
Apr range
9.49-15.49%
Our pick for
LLC lines of credit
American Express offers lines of credit from $2,000 to $250,000 that are repaid on a monthly basis. These lines of credit can be a good option for working capital needs.
American Express Business Blueprint™ - Line of credit
Max loan
$250,000
Min. Credit score
640
Our pick for
Fast LLC loans
Bluevine can approve and fund applications as fast as the same day. This line of credit can be a good option for working capital needs.
Bluevine - Line of credit
Max loan
$250,000
Min. Credit score
625
Apr range
20.00-50.00%
Our pick for
Short-term LLC loans
OnDeck offers short-term loans of up to $250,000 with repayment terms up to 24 months. These loans are well-suited for one-time investments in your business, such as opening a new location or renovating your space.
OnDeck - Online term loan
Max loan
$250,000
Min. Credit score
625
Apr range
29.90-97.30%
Our pick for
LLC startup loans
Fundbox offers a flexible line of credit that is a good option for startups. You may be able to qualify for a line of credit with just six months in business.
Fundbox - Line of credit
Max loan
$150,000
Min. Credit score
600
Apr range
10.10-79.80%
Our pick for
LLC equipment loans
Triton Capital can finance equipment loans up to $250,000 in a range of industries. The lender can approve and fund applications in as little as one to two business days.
Triton Capital - Equipment financing
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
600
Apr range
5.99-35.00%
with Fundera by NerdWallet
Our pick for
LLC loans for bad credit
You may be able to qualify for a term loan from Fora Financial with a minimum credit score of 500. These loans can be used for a variety of needs, such as buying inventory, managing cash flow or expanding your business.
Fora Financial - Online term loan
Max loan
$1,400,000
Min. Credit score
500
How Much Do You Need?
General Qualifications
This is a common profile for our borrowers but we have a wide number of options for many business owners.
550 or higher
at least $50k
6 months or more
- Personal credit score. You’ll likely need a personal credit score of at least 690 to qualify for business loans with the most competitive rates and terms. Bad credit business loans may be available if your personal credit is spotty but your business finances are strong.
- Time in business. Banks and SBA lenders usually won’t fund businesses that haven’t been around for at least two years. Online lenders offer more flexibility to newer LLCs. For example, OnDeck’s term loan requires a year in business, while BlueVine’s business line of credit is available to businesses that have been around for six months.
- Annual revenue. Lenders might require you to meet a minimum annual revenue threshold to show the strength of your business finances. Banks will likely ask you to meet higher minimums, whereas online lenders may be more flexible. If you are a new LLC that doesn’t have established finances, you may need to opt for financing options that rely on your personal credit, like a personal loan for business or business credit card.
- SBA loans. SBA loans for LLCs take many forms. The SBA 7(a) loan is perhaps the most well-known as it provides working capital and can also fund equipment purchases and expansion. Meanwhile, an SBA 504 loan is reserved for businesses that need to buy long-term, fixed assets such as facilities or machinery. One downside is that getting approved and receiving funding can take a while. However, SBA Express loans offer faster funding, but smaller loan amounts — up to $500,000.
- Term loans. These loans are lump sums of money that you repay monthly (with interest) over a fixed repayment timeline. Eligible business owners can typically borrow anywhere from $2,000 to $5 million with a small-business term loan. Funding generally comes through quickly, sometimes in a matter of days, if you go through an online lender. But their loans will also likely be more expensive than SBA options or those from a traditional bank.
- Business lines of credit. A business line of credit can be a flexible alternative to a traditional business loan. Instead of a lump sum of money, business owners receive a credit line that they can draw on as needed. Lines of credit typically range from $1,000 to $250,000. You’ll pay interest on the amount you borrow only, and smaller credit lines may not require collateral. You may also be able to qualify with a lower credit score.
- Invoice factoring. This type of business financing leverages unpaid invoices to cover short-term needs. The business owner sells their outstanding invoices to a factoring company for a reduced price — discounts often range from 1% to 5% — in return for upfront cash. Invoice factoring is ideal for businesses whose customers are other businesses.
- Check your credit scores. Knowing your personal and business credit scores can give you a solid idea of the types of financing that will likely be available to your LLC. You can get a free personal credit score with NerdWallet and review your business credit score through Equifax, Experian and Dun & Bradstreet.
- Determine the right financing option. Every business’s needs are different. If you don’t have the time in business, collateral or annual revenue to qualify for an SBA loan, then a term loan, business line of credit or invoice factoring arrangement could be your next best bet.
- Compare lenders. Once you have an understanding of your funding needs and qualifications, you can research different small-business lenders. You should compare several options — considering interest rates, repayment terms, funding speed and loan amounts, among other factors — to decide which lenders are best for your LLC.
- Apply for your loan. The application process will vary based on the lender you choose. Online lenders typically offer a streamlined process with minimal documentation. Bank and SBA loans will require a more in-depth application process. You may have to visit a bank branch to apply in person. Regardless of where you apply, however, you'll generally need to provide business and personal tax returns, business and personal bank statements, as well as business financial statements, such as a profit and loss statement or balance sheet.
- Receive your funds. Some online lenders may be able to approve and fund your application in as little as 24 hours. Bank and SBA loans, on the other hand, may take anywhere from a few weeks to a few months to fund. In any case, before signing a business loan agreement, make sure you review the terms and conditions and reach out to your lender if you have any questions or concerns.