Best Online Business Loans of 2025
Online business lenders often provide faster and easier access to capital than traditional lenders, though at higher interest rates.
Online business loans are loans you can apply for completely online. Although any lender can use an online application, online business loans are usually offered by financial technology companies, not banks.
Compared with traditional lenders, online business lenders typically have more flexible qualifications and streamlined underwriting processes — but charge higher rates for these conveniences. As a result, these small-business loans
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.
Best Online Business Loans
| Loan | NerdWallet rating | Best For | Max loan amount | Min. credit score | Next steps |
|---|---|---|---|---|---|
 OnDeck - Line of credit with Fundera by NerdWallet | Best for fast line of credit draws | $100,000 | 625 | with Fundera by NerdWallet | |
| Pros
Cons
| |||||
 Fora Financial - Online term loan with Fundera by NerdWallet | Best for borrowers who have bad credit | $1,500,000 | 570 | with Fundera by NerdWallet | |
| Pros
Cons
| |||||
 Bluevine - Line of credit with Fundera by NerdWallet | Best for same-day funding | $250,000 | 625 | with Fundera by NerdWallet | |
| Pros
Cons
| |||||
 iBusiness Funding - Online term loan with Fundera by NerdWallet | Best for long repayment terms | $500,000 | 660 | with Fundera by NerdWallet | |
| Pros
Cons
| |||||
 Fundomate- Business funding with Fundera by NerdWallet | Best for overall flexibility | $500,000 | 600 | with Fundera by NerdWallet | |
| Pros
Cons
| |||||
 National Funding - Equipment financing with Fundera by NerdWallet | Best for equipment financing | $150,000 | 600 | with Fundera by NerdWallet | |
| Pros
Cons
| |||||
 Fundbox - Line of credit with Fundera by NerdWallet | Best for startups | $250,000 | 600 | with Fundera by NerdWallet | |
| Pros
Cons
| |||||
 American Express® Business Line of Credit* with Fundera by NerdWallet | Best for low-revenue businesses | $250,000 | 660 | with Fundera by NerdWallet | |
| Pros
Cons
| |||||
Best Online Business Loans
Max loan amount
$100,000
Min. credit score
625
Min. annual revenue
$100,000
See Your Loan Optionswith Fundera by NerdWallet
Pros
- Fast access to working capital.
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Not available in North Dakota.
- May require frequent weekly payments.
- Interest rates can be high compared with traditional lenders.
OnDeck - Line of credit
Best for fast line of credit draws
Max loan amount
$100,000
Min. credit score
625
Min. annual revenue
$100,000
with Fundera by NerdWallet
Pros
- Fast access to working capital.
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Not available in North Dakota.
- May require frequent weekly payments.
- Interest rates can be high compared with traditional lenders.
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 borrowers who have bad credit
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
$250,000
Min. credit score
625
Min. annual revenue
$120,000
with Fundera by NerdWallet
Pros
- Cash can be available within 12 to 24 hours.
- Can be used to build business credit.
- Low minimum credit score requirement.
Cons
- Requires weekly payments.
- Not available in North Dakota, South Dakota or Nevada.
- Rates can be high compared with traditional lenders.
Bluevine - Line of credit
Best for same-day funding
Max loan amount
$250,000
Min. credit score
625
Min. annual revenue
$120,000
with Fundera by NerdWallet
Pros
- Cash can be available within 12 to 24 hours.
- Can be used to build business credit.
- Low minimum credit score requirement.
Cons
- Requires weekly payments.
- Not available in North Dakota, South Dakota or Nevada.
- Rates can be high compared with traditional lenders.
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 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.
iBusiness Funding - Online term loan
Best for long repayment terms
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 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.
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 overall flexibility
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.
Max loan amount
$150,000
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.
- 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 - Equipment financing
Best for equipment financing
Max loan amount
$150,000
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.
- 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
$250,000
Min. credit score
600
Min. annual revenue
$30,000
with Fundera by NerdWallet
Pros
- Financing available within one business day after approval.
- Simple application with minimal documentation required.
- Low minimum credit score, time in business and annual revenue requirements.
- No prepayment penalties, account maintenance fees or inactivity fees.
Cons
- Rates are high compared with traditional banks.
- Weekly repayments required over a short term (maximum of 24 weeks).
Fundbox - Line of credit
Best for startups
Max loan amount
$250,000
Min. credit score
600
Min. annual revenue
$30,000
with Fundera by NerdWallet
Pros
- Financing available within one business day after approval.
- Simple application with minimal documentation required.
- Low minimum credit score, time in business and annual revenue requirements.
- No prepayment penalties, account maintenance fees or inactivity fees.
Cons
- Rates are high compared with traditional banks.
- Weekly repayments required over a short term (maximum of 24 weeks).
Max loan amount
$250,000
Min. credit score
660
Min. annual revenue
$36,000
with Fundera by NerdWallet
Pros
- Streamlined application process with minimal paperwork.
- Financing from $2,000 to $250,000 available.
- Accepts borrowers with a minimum FICO score of at least 660 at the time of application (though the required FICO score may be higher based on your relationship with American Express, credit history, and other factors).
- Monthly repayment schedule (as opposed to daily or weekly).
- No prepayment penalties, account maintenance fees or draw fees.
Cons
- Must have online checking or PayPal account to verify cash flow.
- Complex monthly fee structure makes it difficult to compare costs to other lenders.
American Express® Business Line of Credit*
Best for low-revenue businesses
Max loan amount
$250,000
Min. credit score
660
Min. annual revenue
$36,000
with Fundera by NerdWallet
Pros
- Streamlined application process with minimal paperwork.
- Financing from $2,000 to $250,000 available.
- Accepts borrowers with a minimum FICO score of at least 660 at the time of application (though the required FICO score may be higher based on your relationship with American Express, credit history, and other factors).
- Monthly repayment schedule (as opposed to daily or weekly).
- No prepayment penalties, account maintenance fees or draw fees.
Cons
- Must have online checking or PayPal account to verify cash flow.
- Complex monthly fee structure makes it difficult to compare costs to other lenders.
Why trust NerdWallet
What is an online business loan?
An online business loan can be a term loan, line of credit or other type of business financing offered by a nonbank or alternative lender
Because everything’s done online, these loans are usually fast to fund, with more flexible qualification requirements than other types of business financing. Some online business lenders even work with startups or businesses with bad credit
Speed and flexibility come with a cost, however. Online business loans tend to have higher interest rates than bank or U.S. Small Business Administration loans. Annual percentage rates for online loans range from 6% to 99%.
Many online lenders don’t require collateral — assets such as real estate, equipment and unpaid invoices that can be seized by the lender if you don’t repay the loan. However, offering collateral may help you get lower interest rates and better terms, such as a longer repayment period.
Frequently asked questions
Are online business loans safe?
How fast can I get an online business loan?
Can I get an online business loan without collateral?
Can I get an online business loan with a bad credit score?
Types of online business loans
There are many types of online loans you can use to finance your small business. Here are some of the most common options.
Business term loans
Because you can repay business term loans over an extended period, these online loans are usually a good choice for larger investments and long-term growth.
Business lines of credit
A business line of credit
Compared with term loans, business lines of credit are more flexible — making them a good choice for managing cash flow, covering payroll and other short-term needs.
Equipment financing
Equipment financing is a type of small-business loan used to buy machinery or equipment. Equipment loans
With equipment financing, the equipment you purchase typically serves as collateral on the loan, which means you may not have to rely as heavily on your credit or financial history to qualify.
Invoice financing and invoice factoring
With invoice factoring factoring company
Both of these types of financing are good options for business-to-business companies that need to cover cash flow gaps. Invoice factoring and financing can also be easier to qualify for than other types of business loans — but may have higher interest rates.
Merchant cash advances
A merchant cash advance MCA company
Although merchant cash advances are fast to fund and easy to qualify for, they’re one of the most expensive forms of online business financing. NerdWallet recommends considering all other options before turning to an MCA.
» MORE: Best startup business loans
Pros
No need to visit a branch location.
Can receive funds within days or as quickly as 24 hours.
Fast application processes with minimal documentation required.
Lots of loan types to choose from with a range of interest rates, repayment terms and loan amounts.
Qualification requirements are typically more flexible and some lenders will also work with new businesses or those with bad credit.
Cons
Generally more expensive than bank and SBA loans. APRs for online loans can vary anywhere from 6% to 99%.
May require daily or weekly payments, and may have lower maximum funding amounts and shorter repayment periods than bank loans.
Not ideal if you’re looking to build a relationship with a lender or have someone address your questions one-on-one.
Some predatory lenders try to trap businesses with offers that seem too good to be true, especially if those businesses are having trouble finding financing elsewhere.
How to apply for an online business loan
Although loan applications vary from lender to lender, you’ll typically be able to apply for an online business loan within minutes. Here are the steps you can follow:
1. Understand your financing needs
The amount of funding you need and what type of online loan is best for your business will largely depend on how you will use funding and how much you can afford.
2. Evaluate your qualifications
Most lenders look at your personal credit score, time in business and annual revenue when reviewing your loan application. Online lenders may also look at your cash flow, financial accounts or outstanding invoices. You’ll want to review your business qualifications ahead of time so you know where your company stands. Also, you may want to estimate the value of any assets you plan to offer as collateral for your loan.
3. Compare lenders
You should explore and compare multiple private business loans
- Loan amounts.
- Interest rates.
- Additional loan fees.
- Repayment terms.
- Prepayment penalties.
- Customer support options.
You’ll also want to research the lender and read reviews to make sure they’re reputable.
» Compare lenders: Use our business loan calculator to estimate total loan cost
4. Submit your application
With most online lenders, you should be able to complete and submit your business loan application in minutes. Some lenders have you fill out a simple form and connect your financial data to their system so they can evaluate your business information more quickly and provide a faster application decision.
You may also need to upload or email financial documents, such as:
- Business and personal tax returns.
- Business and personal bank statements.
- Business financial statements (e.g., profit and loss statement, balance sheet).
Additionally, your lender may secure the loan by taking out a blanket lien personal guarantee
» MORE: How to apply for a business loan
5. Review your loan agreement and receive funds
Online lenders typically fund business loan applications within a matter of days. Some lenders offer funding in as little as 24 hours. Before signing a business loan agreement
Alternatives to online business loans
If an online loan is not the right fit for your business, you may want to consider these other types of funding.
SBA loans
Business credit cards
Bootstrapping
Family and friends loans
When traditional forms of financing are not available, family and friends loans for your business may be a funding option. Although this type of loan doesn’t typically involve a formal loan application, you do want to put the loan details in writing to avoid any misunderstandings that could affect your personal relationships.
Methodology
NerdWallet’s review process evaluates and rates small-business loan products from 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 editorial guidelines