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 are 8 of the best unsecured business lines of credit
Lender | NerdWallet Rating▼ | Max loan amount▼ | Min. credit score▼ | Next steps |
---|---|---|---|---|
Bluevine - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Fast funding | $250,000 | 625 | with Fundera by NerdWallet |
OnDeck - Line of credit | 5.0/5 Best for Building business credit | $100,000 | 625 | with Fundera by NerdWallet |
Wells Fargo BusinessLine® Line of Credit Read Review | 5.0/5 Best for Bank lines of credit | $150,000 | 680 | Read Review |
Fundbox - Line of credit Read Review | 5.0/5 Best for Bad credit | $150,000 | 600 | Read Review |
Bank of America Business Advantage Unsecured Line of Credit Read Review | 4.8/5 Best for Low interest rates | Undisclosed | 700 | Read Review |
Wells Fargo Small Business Advantage® Line of Credit Read Review | 4.9/5 Best for SBA lines of credit | $50,000 | 680 | Read Review |
Headway Capital - Line of credit | 4.7/5 Best for New businesses | $100,000 | 625 | with Fundera by NerdWallet |
PNC Bank - Unsecured Small Business Line of Credit Read Review | Best for Established businesses | $100,000 | 720 | Read Review |
Here are 8 of the best unsecured business lines of credit
Best for Fast funding
Best for Building business credit
Best for Bank lines of credit
Best for Bad credit
Best for Low interest rates
Best for SBA lines of credit
Best for New businesses
Best for Established businesses
I'M INTERESTED IN:
Our pick for
Fast funding
Bluevine provides credit lines up to $250,000. The lender can approve and fund applications in as little as 24 hours.
Bluevine - Line of credit
Pros
- Cash can be available within 12 to 24 hours.
- Can be used to build business credit.
- Low minimum credit score requirement.
Cons
- Requires weekly payments.
- Not available in North Dakota, South Dakota or Nevada.
- Rates can be high compared with traditional lenders.
Bluevine - Line of credit
Pros
- Cash can be available within 12 to 24 hours.
- Can be used to build business credit.
- Low minimum credit score requirement.
Cons
- Requires weekly payments.
- Not available in North Dakota, South Dakota or Nevada.
- Rates can be high compared with traditional lenders.
Qualifications:
- Minimum credit score: 625.
- Minimum time in business: 12 months.
- Minimum annual revenue: $120,000.
- No bankruptcies in the past year.
Our pick for
Building business credit
OnDeck offers a flexible unsecured line of credit in amounts up to $100,000. Responsible spending can help you build your business credit history.
OnDeck - Line of credit
Pros
- Fast access to working capital.
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Not available in North Dakota.
- May require frequent weekly payments.
- Interest rates can be high compared with traditional lenders.
OnDeck - Line of credit
Pros
- Fast access to working capital.
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Not available in North Dakota.
- May require frequent weekly payments.
- Interest rates can be high compared with traditional lenders.
Qualifications:
- Minimum credit score: 625.
- Minimum time in business: 12 months.
- Minimum annual revenue: $100,000.
- No bankruptcies in the past two years.
Our pick for
Bank lines of credit
Wells Fargo offers unsecured credit lines of up to $150,000 that are a good option for established businesses with strong credit.
Wells Fargo BusinessLine® Line of Credit
Pros
- Bank line of credit with competitive interest rates.
- Revolving credit line with no scheduled annual review.
- No collateral required; no prepayment penalties.
Cons
- Must be an established business with strong credit to qualify.
- May take longer to fund than online lenders.
- Annual fee and inactivity fees may apply.
Wells Fargo BusinessLine® Line of Credit
Pros
- Bank line of credit with competitive interest rates.
- Revolving credit line with no scheduled annual review.
- No collateral required; no prepayment penalties.
Cons
- Must be an established business with strong credit to qualify.
- May take longer to fund than online lenders.
- Annual fee and inactivity fees may apply.
Qualifications:
- Minimum credit score: 680.
- Minimum time in business: 24 months.
Our pick for
Bad credit
You may be able to qualify for an Fundbox line of credit with a minimum credit score of 600. Credit lines are available in amounts up to $150,000.
Fundbox - Line of credit
Pros
- Financing available within one business day after approval.
- Simple application with minimal documentation required.
- Low minimum credit score, time in business and annual revenue requirements.
- No prepayment penalties, account maintenance fees or inactivity fees.
Cons
- Rates are high compared with traditional banks.
- Weekly repayments required over a short term (maximum of 24 weeks).
Fundbox - Line of credit
Pros
- Financing available within one business day after approval.
- Simple application with minimal documentation required.
- Low minimum credit score, time in business and annual revenue requirements.
- No prepayment penalties, account maintenance fees or inactivity fees.
Cons
- Rates are high compared with traditional banks.
- Weekly repayments required over a short term (maximum of 24 weeks).
Qualifications:
- Minimum credit score: 600.
- Minimum time in business: 3 months.
- Minimum annual revenue: $30,000.
Our pick for
Low interest rates
Bank of America’s business line of credit offers competitive interest rates, no annual fee and no draw fees. You’ll need to have strong credentials to qualify.
Bank of America Business Advantage Unsecured Line of Credit
Pros
- Revolving bank line of credit with competitive interest rates.
- No collateral required.
- No draw fees.
Cons
- Must be an established business with strong credit to qualify.
- Can be slow to fund.
- Must be an existing Bank of America customer to apply online.
- Prepayment fees may apply to early repayments.
Bank of America Business Advantage Unsecured Line of Credit
Pros
- Revolving bank line of credit with competitive interest rates.
- No collateral required.
- No draw fees.
Cons
- Must be an established business with strong credit to qualify.
- Can be slow to fund.
- Must be an existing Bank of America customer to apply online.
- Prepayment fees may apply to early repayments.
Qualifications:
- Minimum credit score: 700.
- Minimum time in business: 24 months.
- Minimum annual revenue: $100,000.
Our pick for
SBA lines of credit
This SBA-backed unsecured line of credit offers up to $50,000. Borrowers with less than two years in business may be able to qualify.
Wells Fargo Small Business Advantage® Line of Credit
Pros
- Bank line of credit (backed by the SBA) with competitive interest rates.
- No annual fee or prepayment penalties.
- Available to borrowers with less than two years in business.
- Does not charge an origination fee.
Cons
- May take longer to fund than online lenders.
- Credit lines only available up to $50,000.
- Need a Wells Fargo checking account to access online bill pay.
Wells Fargo Small Business Advantage® Line of Credit
Pros
- Bank line of credit (backed by the SBA) with competitive interest rates.
- No annual fee or prepayment penalties.
- Available to borrowers with less than two years in business.
- Does not charge an origination fee.
Cons
- May take longer to fund than online lenders.
- Credit lines only available up to $50,000.
- Need a Wells Fargo checking account to access online bill pay.
Qualifications:
- Minimum credit score: 680.
- Available to borrowers with less than 24 months in business.
- Household personal liquid assets must be less than $500,000.
- Must meet standard SBA loan requirements.
Our pick for
New businesses
Headway Capital offers lines of credit of up to $100,000. You may be able to qualify with a minimum of six months in business.
Headway Capital - Line of credit
Pros
- Flexible qualification requirements.
- No prepayment penalties.
- Funds available by next business day after approval.
Cons
- Most borrowers are subject to a 2% draw fee.
- Not available in all U.S. states.
Headway Capital - Line of credit
Pros
- Flexible qualification requirements.
- No prepayment penalties.
- Funds available by next business day after approval.
Cons
- Most borrowers are subject to a 2% draw fee.
- Not available in all U.S. states.
Qualifications:
- Minimum credit score: 625.
- Minimum time in business: Six months.
- Minimum annual revenue: $50,000.
Our pick for
Established businesses
PNC offers an unsecured business line of credit with revolving terms. You’ll need strong credit and at least two years in business to qualify.
PNC Bank - Unsecured Small Business Line of Credit
Pros
- Bank line of credit with competitive interest rates.
- Streamlined application and underwriting process.
- Monthly repayments with no set term.
Cons
- Requires high minimum credit score and multiple years in business.
- Businesses in certain states and industries are ineligible.
PNC Bank - Unsecured Small Business Line of Credit
Pros
- Bank line of credit with competitive interest rates.
- Streamlined application and underwriting process.
- Monthly repayments with no set term.
Cons
- Requires high minimum credit score and multiple years in business.
- Businesses in certain states and industries are ineligible.
Qualifications:
- Minimum time in business: 24 months.
- Personal credit history of five or more years paying financial obligations of all types on time.
- Upward or stable trends in revenue and profit margins.
What is an unsecured business line of credit?
How does an unsecured business line of credit work?
Secured vs. unsecured business line of credit
Pros and cons of an unsecured business line of credit
No physical collateral required.
Fast approval times.
Startups and borrowers with bad credit may qualify.
Possible higher rates and less favorable terms than secured lines of credit.
Lower credit limits than secured lines of credit.
Unsecured business line of credit requirements
- Personal credit score. You’ll typically need to have a minimum credit score of 600 or higher to qualify for an unsecured business line of credit. Although online lenders may accept bad or fair credit scores, banks will likely require good credit.
- Annual revenue. Most lenders have a minimum monthly or annual revenue requirement. This requirement can range anywhere from $50,000 to $250,000 per year, or more.
- Time in business. Lenders want to be able to see that you can successfully manage and sustain your company. You’ll usually need at least six months in business to qualify.
- Financial history. Unsecured business line of credit lenders will use your bank statements, other financial accounts and financial statements (e.g., balance sheets, cash flow statements) to evaluate your ability to repay potential debt.
Where to get an unsecured business line of credit
Banks and credit unions
Online lenders
Average interest rate on an unsecured business line of credit
How to get an unsecured business line of credit
1. Decide how much funding you need
2. Evaluate your business’s credentials and make sure you can qualify
3. Research and compare line of credit lenders.
- Maximum credit line amounts.
- Interest rates and additional fees.
- Repayment terms and renewal periods.
- Personal guarantee and/or UCC lien requirements.
- Funding speed.
- Application process.
- Customer service and lender reputation.
4. Gather your documentation and submit an application
- Basic information about you and your business.
- Business and personal bank statements.
- Business and personal tax returns.
- Business financial statements.
5. Review and sign your loan agreement
Frequently asked questions
Methodology
Wondering if you qualify?
It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.