Best of

Best Options for Peer-to-Peer Business Loans

Jackie ZimmermannNovember 21, 2019

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Peer-to-peer business loan options include loans from Funding Circle and StreetShares. You'll need good credit to qualify with these lenders.

FunderaFundera
Fundera

Easily get real, personalized small business loan rates to compare — not just ranges or estimates. It's free and won't affect your credit.

Easily get real, personalized small business loan rates to compare — not just ranges or estimates. It's free and won't affect your credit.

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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

Funding Circle - Online term loan

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.
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.

Our pick for

Businesses looking for working capital

StreetShares offers a personalized twist on P2P lending — it helps connect veteran entrepreneurs with investors interested in helping veteran-owned businesses.

StreetShares - Online term loan

StreetShares - Online term loan

Est. APR

8.00 - 39.99%

Min. Credit Score

600

StreetShares offers a business term loan for newer businesses that need to finance an expansion.

Pros

  • No prepayment penalty.

Cons

  • Requires weekly repayments.
  • Financing amounts limited to 20% of annual revenue.
Read full review

Qualifications

  • Minimum credit score: 600.
  • Minimum time in business: 1 year.
  • Minimum annual revenue: $25,000.
  • No bankruptcies in the past 3 years.
FunderaFundera
Fundera

Easily get real, personalized small business loan rates to compare — not just ranges or estimates. It's free and won't affect your credit.

Easily get real, personalized small business loan rates to compare — not just ranges or estimates. It's free and won't affect your credit.

Get Started

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

LenderBest ForEst. APRMin. Credit Score
Funding Circle - Online term loan

Funding Circle - Online term loan

Businesses looking to grow

12.18 - 36.00%

660

StreetShares - Online term loan

StreetShares - Online term loan

Businesses looking for working capital

8.00 - 39.99%

600

» 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 November 21, 2019

To recap our selections...

NerdWallet's Best Options for Peer-to-Peer Business Loans

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