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 6 unsecured business loans
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 unsecured business loans | $250,000 | 625 | with Fundera by NerdWallet |
OnDeck - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Unsecured business lines of credit | $100,000 | 625 | with Fundera by NerdWallet |
Fora Financial - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Unsecured business loans for bad credit borrowers | $1,400,000 | 500 | with Fundera by NerdWallet |
Fundbox - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Unsecured business loans for startups | $150,000 | 600 | with Fundera by NerdWallet |
Credibility Capital - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Long-term unsecured business loans | $500,000 | 650 | with Fundera by NerdWallet |
OnDeck - Online term loan with Fundera by NerdWallet | 5.0/5 Best for Short-term unsecured business loans | $250,000 | 625 | with Fundera by NerdWallet |
Here are 6 unsecured business loans
Best for Fast unsecured business loans
Best for Unsecured business lines of credit
Best for Unsecured business loans for bad credit borrowers
Best for Unsecured business loans for startups
Best for Long-term unsecured business loans
Best for Short-term unsecured business loans
Our pick for
Fast unsecured business loans
Bluevine’s line of credit can fund in as little as 12 hours.
Bluevine - Line of credit
Max loan
$250,000
Min. Credit score
625
Apr range
20.00-50.00%
Our pick for
Unsecured business lines of credit
OnDeck is willing to work with borrowers who have credit scores as low as 625, though you may face high APRs.
OnDeck - Line of credit
Max loan
$100,000
Min. Credit score
625
Apr range
29.90-65.90%
Our pick for
Unsecured business loans for bad credit borrowers
Fora Financial has a minimum credit score requirement of 500 and you can qualify with as little as six months in business.
Fora Financial - Online term loan
Max loan
$1,400,000
Min. Credit score
500
Our pick for
Unsecured business loans for startups
Fundbox makes loans to companies with just six months in business.
Fundbox - Line of credit
Max loan
$150,000
Min. Credit score
600
Apr range
10.10-79.80%
Our pick for
Long-term unsecured business loans
Credibility Capital offers loans with terms as long as five years.
Credibility Capital - Online term loan
Max loan
$500,000
Min. Credit score
650
Apr range
9.49-15.49%
Our pick for
Short-term unsecured business loans
You can use upfront cash from OnDeck's term loans to make large purchases, then pay the loan back over up to two years.
OnDeck - Online term loan
Max loan
$250,000
Min. Credit score
625
Apr range
29.90-97.30%
Minimum requirements for a loan
The Nerds are here to help you find the right loans for your business needs.
550 or higher
at least $50k
6 months or more
How Much Do You Need?
- Term loans. Term loans are likely what you imagine when you think of a business loan. These loans are lump sums of capital that you borrow from a lender and repay over a set period of time. Term loans can be a good option if you need to make a specific investment or purchase for your business.
- Business lines of credit. Credit lines are a flexible form of financing that allow you to borrow up to a certain limit and only pay interest on the money you borrow. You then repay the funds and continue to draw on the line. Business lines of credit can be used for working capital, as well as other short-term expenses. These products are also used as emergency funds.
- Invoice factoring. Invoice factoring lets you sell your unpaid invoices for cash advances. The factoring company then takes control of your invoices and is responsible for collecting payments from your customers. Although factoring companies may want to see established invoicing practices and a certain amount of time in business, you may not have to provide a personal guarantee — since you’re selling an asset to them directly.
- Merchant cash advance. With an MCA, a lender advances you cash based on your sales, and you repay them with a portion of your future sales. This type of financing is usually easier to qualify for than other business loans. MCAs are risky and expensive, however, and should be treated as an option of last resort.
- Speed. Applications can usually be processed quickly.
- Collateral not required. You can get financing even if your business doesn’t have many physical assets.
- Can be expensive. These loans tend to have higher APRs than those secured by collateral.
- Assets can still be at risk. You’ll probably have to provide a personal guarantee, which puts your personal assets on the line, or a business lien, which allows a lender to seize the assets your business does have.