Fundation Business Loan Review

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Fundation logo
  • Loan amount: $20,000 to $500,000.
  • APR: 8% to 30%.
  • Loan term: 1 to 4 years.
  • Funding time: Average of 1 to 3 days.
  • Read our Fundation review.

As the owner of an established small business, you may be looking toward the next step.

Online lender Fundation is a good option for small business owners who:

    • Want flexible term lengths: With terms from one to four years, you can access short-term cash for payroll or inventory, or longer-term financing for bigger projects.
    • Have employees: Fundation requires that businesses are made up of the borrower and at least two other individuals

    » MORE: Find options for fast-business loans

    Reasons to use Fundation

    Broader view of the borrower: As part of the underwriting process, you’ll discuss with a Fundation underwriter why you’re borrowing and how you intend to use the money, and clarify any questions the company may have about your application. The conversation helps round out Fundation’s view of you as a borrower, because the underwriting data the company collects “doesn’t always give the full picture,” Fundation Chief Executive Officer Sam Graziano says.

    Human touch: When you apply, you’ll be paired with a customer relationship manager – a Fundation employee who helps you through the loan process. Through phone calls and emails, he or she will answer your questions and prepare you for your call with a Fundation underwriter. Learn more about the application process in our step-by-step guide.

    Opportunity to borrow more: After nine months (or six months if you’re borrowing for one year), Fundation will let you refinance and borrow more – as long as you’ve been paying on time.

    Where Fundation falls short

    Not for very small businesses: If your business is just you and a partner, Fundation isn’t an option for you. The lender requires that you have at least three employees – you can include yourself – to qualify for a loan.

    More frequent repayments than with banks: Fundation automatically deducts loan repayments from your bank account twice a month, whereas banks and some online lenders that offer similar loans to Fundation typically collect monthly repayments (and yet other online lenders collect daily repayments). Graziano maintains that making payments more often helps some businesses manage their cash flow because each payment is smaller. Still, Fundation isn’t the best option for you if you prefer to make monthly repayments or have uneven cash flow.

    You're ready to get your new business off the ground and may already have discovered that finding financing can be a challenge. We've rounded up some strategies to help you get your company launched.
    Because you have strong personal credit, you could qualify for a line of credit through BlueVine or OnDeck that would help you meet daily expenses and maintain inventory. If you've been in business at least a year and have at least $100,000 in annual revenue, consider OnDeck, whose maximum APR is lower than BlueVine’s. If your annual revenue starts at $60,000, BlueVine is a better bet. BlueVine also offers invoice factoring, a type of financing that advances you cash based on your unpaid customer invoices.
    bluevine
    ondeck
    Good option for:
    • Businesses with steady revenue• Fast cash
    Do you qualify?
    • 600+ personal credit score
    • $120,000+ annual revenue
    • 6+ months in business
    • 600+ personal credit score
    • $100,000+ annual revenue
    • 1+ years in business
    Borrow:
    $5,000 to $100,000Up to $100,000
    APR:
    16% to 62%14% to 40%
    Get started at BlueVine
    Get started at OnDeck
    Microloans and personal loans are good options to finance your inventory and daily expenses if you’re an established business but make less than $25,000 in revenue. Microloans through nonprofits and the SBA usually have low APR and manageable payment terms, but you'd have to deal with stringent requirements. Personal loans are easier to access, but the APR can be higher than with microloans.
      For personal loans: For microloans:
    With strong personal credit and an established business, you may be eligible for an SBA loan, which offers low APRs and longer terms. SmartBiz is a good option if you have at least $50,000 in annual revenue. For smaller loans (under $100,000) and less stringent requirements, StreetShares offers a line of credit, a good alternative, especially for military veterans. You need $25,000 in annual revenue to qualify for StreetShares.
    smartbiz
    Street Shares
    Good option for:
    • SBA loans
    • Low rates
    • Newer businesses
    • U.S. military veterans
    Do you qualify?
    • 600+ personal credit score for loans $30,000 to $150,000
    • 650+ personal credit score for loans over $150,000
    • $50,000+ annual revenue
    • 2+ years in business
    • 600+ personal credit score
    • $25,000+ annual revenue
    • 1+ years in business
    Borrow:
    $30,000 to $350,000$5,000 to $100,000
    APR:
    8.24% to 8.95%9% to 40%
    Get started at SmartBiz
    Get started at StreetShares
    For established businesses making more than $50,000 annually, SmartBiz and Credibility Capital are solid choices. If you want the lowest rates and longer repayment terms, SmartBiz is the best option because it offers SBA loans. If you have at least $100,000 in annual sales and want funding fast, consider Credibility Capital.
    credibilitycapitallogo
    smartbiz
    Good option for:
    • Fast funding
    • Short-term financing
    • SBA loans
    • Low rates
    Do you qualify?
    • 650+ personal credit score
    • $100,000+ annual revenue
    • 1+ years in business
    • 600+ personal credit score for loans $30,000 to $150,000
    • 650+ personal credit score for loans over $150,000
    • $50,000+ annual revenue
    • 2+ years in business
    Borrow:
    $10,000 to $350,000
    $30,000 to $350,000
    APR:
    10% to 25%8.24% to 8.95%
    Get started at Credibility Capital
    Get started at SmartBiz
    For established businesses with annual sales of $150,000 or more, SmartBiz and Funding Circle offer good financing options. You’ll get lower APRs with SmartBiz, which offers SBA loans, but Funding Circle has a less rigorous and shorter application process. Funding Circle also has a higher maximum loan amount of $500,000 compared with SmartBiz's $350,000.
    fundingcircle
    smartbiz
    Good option for:
    • Profitable businesses
    • Fast funding
    • SBA loans
    • Low rates
    Do you qualify?
    • 620+ personal credit score
    • No minimum annual revenue required
    • 2+ years in business
    • 600+ personal credit score for loans $30,000 to $150,000
    • 650+ personal credit score for loans over $150,000
    • $50,000+ annual revenue
    • 2+ years in business
    Borrow:
    $25,000 to $500,000 $30,000 to $350,000
    APR:
    7% to 36% 8.24% to 8.95%
    Get started at Funding Circle
    Get started at SmartBiz
    bluevine

    Line of credit

    bluevine

    Invoice factoring

    Good option for:
    • Good for businesses less than a year old
    • Low minimum revenue requirement
    • Fast cash
    • Good for businesses with larger invoices
    • Fast cash
    • Low minimum personal score requirement
    Do you qualify?
    • 600+ personal credit score
    • $60,000+ annual revenue
    • 6+ months in business
    • 530+ personal credit score
    • $120,000+ annual revenue
    • 3+ months in business
    Borrow:
    Up to $100,000 Up to $2 million
    APR:
    16% to 62% 17% to 60%
    Get started at BlueVine
    Get started at BlueVine
    For young businesses that deal with a lot of customer invoices, consider taking a cash advance against those outstanding receivables. Both BlueVine and Fundbox offer the financing option commonly known as invoice factoring. If you have at least $120,000 in annual revenue, BlueVine offers up to 85% of your total invoices, up to $2 million. Fundbox does not require a minimum revenue amount, but you must have at least six months of activity with a compatible online accounting software such as QuickBooks. Fundbox advances you 100% of your total invoice but only up to $100,000.
    bluevine

    fundbox

    Good option for:
    • Businesses with strong-credit customers
    • Addressing cash-flow gaps
    • Businesses that need cash for short-term needs
    • Financing small invoice amounts
    Do you qualify?
    • 530+ personal credit score
    • $120,000+ annual revenue
    • 3 months+ in business
    • No minimum personal credit score
    • No minimum revenue
    • Must have online accounting software that can link to Fundbox (such as QuickBooks, FreshBooks, Harvest)
    Borrow:
    $20,000 to $2 million $1,000 to $100,000
    APR:
    7% to 60% 16.4% to 76.5%
    Get started at BlueVine
    Get started at Fundbox
    Because your personal credit score is in the 600s, you may qualify for a line of credit from BlueVine or OnDeck to help meet daily expenses and maintain inventory. OnDeck offers a higher credit limit and lower APRs than BlueVine. For businesses with at least nine months in operation and $75,000 in annual revenue, OnDeck is a good option. If you have less time in business and less revenue, consider BlueVine.
    bluevine
    ondeck
    Good option for:
    • Businesses with steady revenue• Fast cash
    Do you qualify?
    • 600+ personal credit score
    • $120,000+ annual revenue
    • 6+ months in business
    • 600+ personal credit score
    • $100,000+ annual revenue
    • 1+ years in business
    Borrow:
    $5,000 to $100,000Up to $100,000
    APR:
    16% to 62%14% to 40%
    Get started at BlueVine
    Get started at OnDeck
    Because you deal with a lot of unpaid customer invoices, consider BlueVine and Fundbox financing to help meet everyday expenses. They each provide a cash advance against outstanding invoices. BlueVine has a higher cash-advance cap of $2 million, compared with Fundbox’s $100,000. BlueVine is a good bet if you have at least $120,000 in annual revenue and your customers have strong credit. If you’re a young business with limited revenue, consider Fundbox, which does not require a minimum revenue or personal credit score. You must, however, have at least six months of activity in an online accounting software such as QuickBooks to qualify for Fundbox.
    bluevine

    fundbox

    Good option for:
    • Businesses with strong-credit customers
    • Addressing cash-flow gaps
    • Businesses that need cash for short-term needs
    • Financing small invoice amounts
    Do you qualify?
    • 530+ personal credit score
    • $120,000+ annual revenue
    • 3 months+ in business
    • No minimum personal credit score
    • No minimum revenue
    • Must have online accounting software that can link to Fundbox (such as QuickBooks, FreshBooks, Harvest)
    Borrow:
    $20,000 to $2 million $1,000 to $100,000
    APR:
    7% to 60% 16.4% to 76.5%
    Get started at BlueVine
    Get started at Fundbox
    OnDeck and Kabbage are good options when you need cash for everyday expenses and inventory but your personal credit score still needs some work. If you have at least $100,000 in annual revenue and a personal credit score of 500 or more, you may qualify for OnDeck’s term loan. For businesses with lower revenue, consider Kabbage, which also does not require a minimum personal credit score. You’ll get high APRs with both lenders. You should turn to these options mainly for short-term needs or emergencies and only if you're sure you have the cash flow to cover the financing costs.
    kabbage
    ondeck
    Good option for:
    • Fast cash
    • Short-term financing
    • Fast cash
    • Large purchases
    Do you qualify?
    • No minimum personal credit score required
    • 1+ years in business
    • $50,000+ annual revenue
    • 500+ personal credit score
    • $100,000+ annual revenue
    • 1+ years in business
    Borrow:
    $2,000 to $150,000$5,000 to $500,000
    APR:
    24% to 99% 9% to 99%
    Get started at Kabbage
    Get started at OnDeck
    Because you're just starting out and your personal credit score is below 600, your best bet is microloans through nonprofit lenders or the U.S. Small Business Administration. The downside is these are "micro" amounts of money, usually no more than $50,000. However, many microlenders help businesses grow and establish better credit. SBA microloans generally have an APR of 8% to 8.5% and manageable repayment terms. Successfully repaying microloans will boost your credit score and make you eligible for bigger financing.
    For microloans:
    When you have strong personal credit and a young business with a lot of unpaid customer invoices, BlueVine and Fundbox are good financing options. Both offer invoice factoring at similar costs. Where they differ: minimum revenue and minimum credit score. With BlueVine, you need at least $120,000 in revenue and a minimum 530 personal credit score. Fundbox does not require a minimum revenue or credit score; the lender does require at least six months of activity in a compatible online accounting software.
    bluevine
    fundbox
    Good option for:

    • Businesses with strong-credit customers
    • Newer businesses
    • Fast cash
    • Financing smaller invoices
    Do you qualify?
    • 530+ personal credit score
    • 3+ months in business
    • $120,000+ annual revenue
    • No minimum credit score required
    • No minimum annual revenue required
    • Must use online accounting software such as QuickBooks or FreshBooks
    Borrow:
    $20,000 to $2 million$1,000 to $100,000
    APR:
    17% to 60%16.4% to 76.5%
    Get started at BlueVine
    Get started at Fundbox
    As a young entrepreneur with strong personal credit, you may find it easier to qualify for a personal loan or a business credit card. Personal loans and business credit cards are also decent options for startups because approval is based on personal credit score rather than business history. The amount you can finance is typically smaller than with a term loan, however, and you need good credit to qualify. Keep in mind that failure to repay can ruin your personal credit.
    For personal loans:
    For business credit cards:
    Because you have strong credit but your revenue doesn’t quite meet the requirements of most online lenders, consider Fundbox or a business credit card. Business credit cards are a solid option for ongoing working capital and provide quick access to cash, spending rewards and sign-up bonuses. If your business has unpaid customer invoices, you can take a cash advance against those invoices through Fundbox, although you’ll likely pay a higher APR than you would with a business credit card.
    For business credit cards:
    fundbox
    Good option for:
    • B2B companies with unpaid customer invoices
    • Working capital
    • Fast cash

    Do you qualify?
    • No minimum personal credit score required
    • No minimum annual revenue required
    • Must use online accounting software that can link to Fundbox (such as QuickBooks, FreshBooks, Harvest).
    Borrow:
    $1,000 to $100,000
    APR:
    16.4% to 76.5%
    Get started at Fundbox
    For young businesses building revenue, StreetShares is a good bet for financing new equipment or an expansion. Your strong personal credit and revenue of at least $25,000 qualify you for the lender, which serves a variety of borrowers but is an especially good option for U.S. military veterans.

    Street Shares
    Good option for:
    • Fast cash
    • Newer businesses
    • Entrepreneurs who are military veterans
    Do you qualify?
    • 600+ credit score
    • 1+ years in business
    • $25,000+ annual revenue
    Borrow:
    $2,000 to $100,000
    APR:
    9% to 40%
    Get started at StreetShares
    With a strong personal credit score and at least one year in business, you can turn to StreetShares and OnDeck for equipment and expansion financing. StreetShares is better if you’re seeking a smaller amount of financing: You just need $25,000 in annual revenue to qualify for its term loan, which maxes out at $100,000. If you have at least $100,000 in revenue, OnDeck, with loans up to $500,000, is better suited for more mature businesses seeking larger amounts of financing.
    Street Shares
    ondeck
    Good option for:

    • Small investments
    • Entrepreneurs who are military veterans


    • Large investments
    • Fast cash
    Do you qualify?
    • 600+ credit score
    • 1+ years in business
    • $25,000+ annual revenue

    • 500+ personal credit score
    • 1+ years in business
    • $100,000+ in annual revenue

    Borrow:
    $2,000 to $100,000 $5,000 to $500,000
    APR:
    9% to 40% 9% to 99%
    Get started at StreetShares
    Get started at OnDeck
    Street Shares
    ondeck
    Good option for:
    • Fast cash
    • Entrepreneurs who are military veterans
    • Newer businesses
    • Fast cash
    • Expansion
    Do you qualify?
    • 600+ credit score
    • 1+ years in business
    • $25,000+ annual revenue
    • 500+ credit score
    • 1+ years in business
    • $100,000+ in annual revenue
    Borrow:
    $2,000 to $100,000 $5,000 to $500,000
    APR:
    9% to 40% 9% to 99%
    Get Started at StreetShares
    Get Started at OnDeck
    Since you have strong personal credit but are still building revenue, you can turn to microloans or personal loans for financing. Microloans are designed especially to help underserved entrepreneurs launch and grow their businesses, but the loans are small and can carry APRs in the low teens. With strong credit, personal loans are another option, but funding typically tops out at $35,000.
    For personal loans:
    For microloans:
    SmartBiz and StreetShares are good options for entrepreneurs with strong personal credit and established businesses. SmartBiz provides SBA loans with the lowest APR and longest repayment terms among online lenders. But since it’s an SBA loan, the application process will involve a lot of documents. If you want funding faster, StreetShares is an alternative. StreetShares, however, has a maximum borrowing limit of $100,000, a higher APR and shorter repayment terms than SmartBiz.
    Street Shares
    smartbiz
    Good option for:
    • Fast cash
    • Newer businesses
    • Entrepreneurs who are military veterans
    • SBA loans
    • Large investments
    • Low rates
    Do you qualify?
    • 600+ personal credit score
    • 1+ years in business
    • $25,000+ annual revenue
    • 600+ personal credit score for loans $30,000 to $150,000
    • 650+ personal credit score for loans over $150,000
    • 2+ years in business
    • $50,000+ annual revenue

    Borrow:
    $2,000 to $100,000$30,000 to $350,000
    APR:
    9% to 40% 8.24% to 8.95%
    Get started at StreetShares
    Get started at SmartBiz
    With your strong personal credit and steady revenue, Lending Club, SmartBiz and OnDeck are good choices for expansion or refinancing. If you want the lowest rates, consider SmartBiz, which provides SBA loans. For big investments, OnDeck has the highest loan limit -- $500,000 -- but the loans will likely cost you more. Lending Club is a middle-ground option, with lower APR than OnDeck and easier qualifications than SmartBiz.
    lending_club_logo_new-249x47
    smartbiz
    ondeck
    Good option for:
    • Fast cash
    • Expansion
    • SBA loans
    • Low rates
    • Businesses that want longer repayment terms
    • Fast cash
    • Short-term expansion
    • Large investments
    Do you qualify?
    • 600+ personal credit score
    • 2+ years in business
    • $75,000+ annual revenue
    • 600+ personal credit score for loans $30,000 to $150,000
    • 650+ personal credit score for loans over $150,000
    • 2+ years in business
    • $50,000+ annual revenue

    • 500+ personal credit score
    • 1+ year in business
    • $100,000+ annual revenue
    Borrow:
    $5,000 to $300,000$30,000 to $350,000 $5,000 to $500,000
    APR:
    8% to 35% 8.24% to 8.95% 9% to 99%
    Get started at Lending Club
    Get started at SmartBiz
    Get started at OnDeck
    Since your business is established and your revenue is solid, Funding Circle, SmartBiz and Bond Street are good financing options. SmartBiz, with loans up to $350,000, has low-rate SBA loans, but the application and funding process can take several weeks to a few months. If want funding quicker, Funding Circle and Bond Street are alternatives. Bond Street has the highest borrowing maximum at $1 million.
    fundingcircle
    smartbiz
    Good option for:
    • Profitable businesses
    • Large investments
    • SBA loans
    • Low rates
    • Long-term investments
    • Growth financing
    • Businesses with strong cash flow
    Do you qualify?
    • 620+ personal credit score
    • 2+ years in business
    • No minimum annual revenue required
    • 600+ personal credit score for loans $30,000 to $150,000
    • 650+ personal credit score for loans over $150,000
    • 2+ years in business
    • $50,000+ annual revenue

    • 640+ personal credit score
    • 2+ years in business
    • $200,000+ annual revenue
    Borrow:
    $25,000 to $500,000$30,000 to $350,000 $10,000 to $1 million
    APR:
    7% to 36% 8.24% to 8.95% 8% to 25%
    Get started at Funding Circle
    Get started at SmartBiz
    Get started at Bond Street
    Since you've been in business more than a year and have decent credit, you may qualify for funding from StreetShares or OnDeck. If you have at least $25,000 in revenue, StreetShares offers a loan or line of credit up to $100,000. If you want more funding, OnDeck has term loans of up to $500,000. OnDeck’s loans, however, can be costlier, with APRs as high as 98%; StreetShares’ funding has a maximum 40% APR.
    Street Shares
    ondeck
    Good option for:
    • Fast cash
    • Entrepreneurs who are military veterans
    • Newer businesses
    • Fast cash
    • Expansion
    Do you qualify?
    • 600+ credit score
    • 1+ years in business
    • $25,000+ annual revenue
    • 500+ credit score
    • 1+ years in business
    • $100,000+ in annual revenue
    Borrow:
    $2,000 to $100,000 $5,000 to $500,000
    APR:
    9% to 40% 9% to 99%
    Get Started at StreetShares
    Get Started at OnDeck
    Since you have unpaid customer invoices, you can turn to BlueVine and Fundbox for a cash advance against those receivables. BlueVine is a good choice if you have credit-strong clients and large outstanding payments up to $2 million. If you’re looking to finance a smaller amount, Fundbox covers 100% of your unpaid invoices up to $100,000. To qualify, you need at least six months of activity in a compatible online accounting software such as QuickBooks.
    bluevine
    fundbox
    Good option for:

    • Businesses with strong-credit customers
    • Newer businesses
    • Fast cash
    • Financing smaller invoices
    Do you qualify?
    • 530+ personal credit score
    • 3+ months in business
    • $120,000+ annual revenue
    • No minimum credit score required
    • No minimum annual revenue required
    • Must use online accounting software such as QuickBooks or FreshBooks
    Borrow:
    $20,000 to $2 million$1,000 to $100,000
    APR:
    17% to 60%16.4% to 76.5%
    Get started at BlueVine
    Get started at Fundbox
    Since your new company earns less than $25,000, microloans and personal loans are good options for necessary capital. Microloans through nonprofits and the SBA usually have low APRs and manageable payment terms. If your credit is in the high 600s, you can opt for a personal loan, though they often aren't available for more than $35,000 and tend to come with higher APRs than microloans.
    For personal loans:
    For microloans:
    If your company is on track to make more than $25,000 in annual revenue but you’ve been open less than a year, you can turn to microloans and personal loans for financing. Microloans come in small amounts and have low APRs and manageable repayment terms. If your credit is in the high 600s, you can opt for a personal loan, though they often aren't available for more than $35,000.
    For personal loans:
    For microloans:
    A term loan is ideal for expansion and buying equipment, so consider StreetShares if you have at least $100,000 in revenue and six months in business. For businesses that are younger and have less revenue, BlueVine is a better bet. If borrowing costs are important to you, StreetShares offers lower APRs than BlueVine.
    Street Shares
    bluevine
    Good option for:
    • Fast cash
    • Entrepreneurs who are military veterans
    • Newer businesses
    • Managing cash flow
    • Newer businesses
    Do you qualify?
    • 600+ personal credit score
    • 6+ months in business
    • $100,000+ annual revenue
    • 600+ personal credit score
    • 6+ months in business
    • $120,000+ in annual revenue

    Borrow:
    $2,000 to $100,000$5,000 to $100,000
    APR:
    9% to 40% 16% to 62%
    Get Started at StreetShares
    Get Started at BlueVine
    For newer businesses with steady revenue, a term loan from StreetShares is a good option. If you have at least $100,000 in revenue and have been in business six months or more, you can qualify for StreetShares.
    Street Shares
    Good option for:
    • Fast cash
    • Entrepreneurs who are military veterans
    • Newer businesses
    Do you qualify?
    • 600+ credit score
    • 6+ months in business
    • $100,000+ annual revenue
    Borrow:
    $2,000 to $100,000
    APR:
    9% to 40%
    Get Started at StreetShares
    Since your business has steady revenue and has been operating for more than a year, consider OnDeck and Kabbage. If your personal credit score is at least 500, OnDeck offers term loans up to $500,000, which is an attractive option for large expansion projects or buying expensive equipment. If you’re looking for short-term financing or need a smaller amount, consider Kabbage, which does not require a minimum credit score. Kabbage offers only six- or 12-month financing of up to $150,000 at high borrowing costs.
    ondeck
    kabbage
    Good option for:
    • Large investments
    • Businesses with consistent sales
    • Smaller investments
    • Businesses with consistent cash flow
    Do you qualify?
    • 500+ credit score
    • 1+ years in business
    • $100,000+ annual revenue
    • No minimum credit requirement
    • 1+ years in business
    • $50,000+ in annual revenue
    Borrow:
    $5,000 to $500,000 $2,000 to $150,000
    APR:
    9% to 99%
    24% to 99% APR
    Get Started at OnDeck
    Get Started at Kabbage
    Since you have unpaid customer invoices, you can turn to BlueVine and Fundbox for a cash advance against those receivables. If you make at least $120,000 in annual revenue, BlueVine will cover 85% of invoices up to $2 million. BlueVine is a good choice if you have credit-strong clients and large outstanding payments. If you’re looking to finance a smaller amount, Fundbox covers 100% of your unpaid invoices up to $100,000. To qualify, you need at least six months of activity in a compatible online accounting software such as QuickBooks.
    bluevine
    fundbox
    Good option for:

    • Businesses with strong-credit customers
    • Newer businesses
    • Fast cash
    • Financing smaller invoices
    Do you qualify?
    • 530+ personal credit score
    • 3+ months in business
    • $120,000+ annual revenue
    • No minimum credit score required
    • No minimum annual revenue required
    • Must use online accounting software such as QuickBooks or FreshBooks
    Borrow:
    $20,000 to $2 million$1,000 to $100,000
    APR:
    17% to 60%16.4% to 76.5%
    Get started at BlueVine
    Get started at Fundbox
    Because you're just starting out and your personal credit score is below 600, your best bet is microloans through nonprofit lenders or the Small Business Administration. The downside is that these are "micro" amounts of money, usually no more than $50,000. Many microlenders, however, help businesses grow and establish better credit. SBA microloans generally have APRs of 8% to 8.5% with manageable repayment terms. Successfully repaying microloans will boost your credit score and make you eligible for bigger financing.
    For microloans:

    Teddy Nykiel is a staff writer at NerdWallet, a personal finance website. Email: teddy@nerdwallet.com. Twitter: @teddynykiel

    NerdWallet staff writer Jackie Zimmermann contributed to this article. Email: jzimmermann@nerdwallet.com. Twitter: @jackie_zm

    Updated July 25, 2017.