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Best Options for Peer-to-Peer Business Loans

Peer-to-peer business loan options include loans from Funding Circle. You'll need fair credit to qualify.

Jackie ZimmermannSeptember 20, 2021

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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?

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.

See Your Loan Options

Funding Circle - Online term loan

See Your Loan Options

Est. APR

12.18-36.00%

Min. Credit Score

660

Funding Circle is an option for established businesses that are financing an expansion or refinancing debt.

Pros

Cash can be available within 3 business days.
Competitive rates among online lenders.
No minimum revenue requirement.

Cons

Requires business lien and personal guarantee.
Not available in Nevada.

Read full review

Qualifications:

Minimum credit score: 660.
Minimum time in business: 2 years.
Minimum annual revenue: None.
No bankruptices in the past 7 years.

May fund quickly

How Much Do You Need?

Summary of Best Options for Peer-to-Peer Business Loans

Lender	Best For	Est. APR	Min. Credit Score	Next Steps
Funding Circle - Online term loan See Your Loan Options with Fundera by Nerdwallet	Best for Businesses looking to grow	12.18-36.00%	660	See Your Loan Options with Fundera by Nerdwallet

Lender

Best For

Est. APR

Min. Credit Score

Next Steps

Funding Circle - Online term loan

See Your Loan Options

with Fundera by Nerdwallet

Best for Businesses looking to grow

12.18-36.00%

660

See Your Loan Options

with Fundera by Nerdwallet

» MORE: Peer-to-peer personal loans

Find and compare small-business 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

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