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Best Of

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 ZimmermannMarch 31, 2021
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

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.

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Our pick for

Businesses looking to grow

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Funding Circle - Online term loan

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Est. APR

12.18 - 36.00%

Depending on your creditworthiness and your business's financials

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.
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Qualifications:

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

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

LenderBest ForEst. APRMin. Credit ScoreNext Steps

Funding Circle - Online term loan

Best for Businesses looking to grow12.18 - 36.00%660
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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 March 31, 2021

To recap our selections...

Best Options for Peer-to-Peer Business Loans

Does your business need funding? Find your best loan options with Fundera by NerdWallet.

See Your Loan Options