While shopping for small-business loans online, you’ve likely come across companies that specialize in peer-to-peer business lending.
What is peer-to-peer, or P2P, business lending? Peer-to-peer lenders underwrite borrowers but don’t fund the loans directly. Instead, they’re an intermediary between the borrower and an individual or institutional investor such as a hedge fund or investment bank.
To help you decide if P2P is the best option for your business, we break down Funding Circle below, which caters to established small-business owners with fair credit. If your credit score falls below 600 and you need an influx of cash, check out our recommendations for bad-credit 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.
Here is 1 option for you
Lender | Best for | Max loan amount | Min. credit score | Next steps |
|---|---|---|---|---|
Funding Circle - Online term loan with Fundera by NerdWallet | Best for Businesses looking to grow | $500,000 | 660 | with Fundera by NerdWallet |
Our pick for
Businesses looking to grow
Funding Circle has no minimum revenue requirement, and with access to higher loan amounts, you can use the funding for growth-related expenses including equipment, renovations and refinancing debt.
Funding Circle - Online term loan
Max Loan Amount
$500,000
Min. Credit Score
660
Est. APR
10.13-36.00%
Funding Circle is an option for established businesses that are financing an expansion or refinancing debt.
May fund quickly
How Much Do You Need?
» MORE: Peer-to-peer personal loans
NerdWallet has a list of the best small-business loans to meet your needs and goals. We gauged lender trustworthiness, market scope and user experience, among other factors, and arranged them by categories that include your revenue and how long you’ve been in business.
Last updated on September 20, 2021
To recap our selections...
Best Options for Peer-to-Peer Business Loans
- Funding Circle - Online term loan: Best for Businesses looking to grow