Best of
Best Options for Peer-to-Peer Business Loans
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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.
Easily get real, personalized small business loan rates to compare -- not just ranges or estimates.
It's free and won't affect your credit.
on Fundera's website
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
Est. APR
11.67 - 36.00%
Min. Credit Score
620
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.
Qualifications
- Minimum credit score: 620.
- 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
Est. APR
8.00 - 39.99%
Min. Credit Score
600
Pros
- No prepayment penalty.
Cons
- Requires weekly repayments.
- Financing amounts limited to 20% of annual revenue.
Qualifications
- Minimum credit score: 600.
- Minimum time in business: 1 year.
- Minimum annual revenue: $25,000.
- No bankruptcies in the past 3 years.
Easily get real, personalized small business loan rates to compare -- not just ranges or estimates.
It's free and won't affect your credit.
on Fundera's website
Summary of Best Options for Peer-to-Peer Business Loans
| Lender | Best For | Est. APR | Min. Credit Score |
|---|---|---|---|
Funding Circle - Online term loan | Businesses looking to grow | 11.67 - 36.00% | 620 |
StreetShares - Online term loan | Businesses looking for working capital | 8.00 - 39.99% | 600 |
| Lender | Best For | Est. APR | Min. Credit Score |
|---|---|---|---|
Funding Circle - Online term loan | Businesses looking to grow | 11.67 - 36.00% | 620 |
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
- Funding Circle - Online term loan: Best for Businesses looking to grow
- StreetShares - Online term loan: Best for Businesses looking for working capital
