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Compare Small-Business Lenders 2019

June 27, 2019
Small Business, Small Business Loans
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

If you need financing for your small business, your local bank is no longer your only option.

Online lenders offer quick access to small-business loans to address various needs, from dealing with an emergency to growing your small business. NerdWallet evaluates business lenders according to the needs and qualifications of entrepreneurs.

Explore your options by financing type: term loans, lines of credit and invoice factoring. Some online lenders have more than one product type, so they are featured in multiple sections. For details on any particular lender, see our full business lender reviews.

Term loans from small-business lenders

If you’re looking for a lump sum of cash to repay over a fixed period of time, term loans are right for you. Because you can pay them off over a longer period, term loans are usually the better choice for larger investments and long-term growth. Generally, term loans have lower rates than lines of credit, but some may require collateral.

Funding optionsGood option for:Do you qualify?Loan Amount & APR
bluevine
Apply now at BlueVine


Read our BlueVine review.
• Short-term financing

• Fast cash
• 600+ personal credit score

• 6+ months in business

• $100,000+ annual revenue
• $5,000 to $250,000

• 15% to 88%
credibilitycapitallogo

Apply now at Credibility Capital


Read our Credibility Capital review.
• Good personal credit

• Short-term financing
• 680+ personal credit score

• 2+ years in business

• $250,000+ annual revenue
• $50,000 to $400,000

• 10% to 25%
Screenshot 2017-05-11 09.24.23

Apply now at Currency


Read our Currency review.

• Equipment financing

• Competitive rates
• 585+ personal credit score

• 6+ months in business

• 75,000+ annual revenue
• $5,000 to $2 million

• 6% to 24%
FundingCircleLogo

Apply now at Funding Circle


Read our Funding Circle review.
• Good personal credit

• Established businesses

• Franchises
• 620+ personal credit score

• 2+ years in business

• No minimum annual revenue required
• $25,000 to $500,000

• 11.67% to 39.6%
OnDeckForTable
Apply now at OnDeck


Read our OnDeck review.
• Bad personal credit

• Retail or food service businesses

• Fast cash
• 500+ personal credit score

• 1+ years in business

• $100,000+ annual revenue
• $5,000 to $500,000

• 9% to 99%

Apply now at Quarterspot


Read our QuarterSpot review.
• Bad personal credit

• Fast cash

• Short-term financing
• 550+ personal credit score

• 2+ years in business

• $200,000+ annual revenue
• $5,000 to $250,000

• 30% to 70%

smartbiz

Apply now at SmartBiz


Read our SmartBiz review.


• Good personal credit

• Long-term capital

• Low rates

• SBA loans
• 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
• $30,000 to $350,000

• 9.7% to 11.04%
StreetShares loans

Apply now at StreetShares


Read our StreetShares review.
• Good personal credit

• Veterans

• Newer businesses
• 600+ personal credit score

• 1+ years in business

• $75,000+ annual revenue
• $2,000 to $250,000

• 8% to 39.99%

Lines of credit for small businesses

If you’re looking for financing flexibility, a line of credit is a better option. You draw on the line — up to a specified amount — as needed and pay interest only on the money you borrow. Lines of credit are a better choice for short-term expenses. Although the APR may be slightly higher than for term loans, lines of credit provide the flexibility to take out money only when, and as often as, you need it.

Funding optionsGood option for: Do you qualify?Loan amount & APR
bluevine
Apply now at BlueVine


Read our BlueVine review.
• Good personal credit

• Newer businesses

• Financing smaller amounts
6-month line of credit:

• 600+ personal credit score

• 6+ months in business

• $100,000+ annual revenue

12-month line of credit:

• 620+ personal credit score

• 2+ years in business

• $450,000+ annual revenue
• $5,000 to $250,000

• 15% to 78%
FundBox Logo
Apply now at FundBox


Read our Fundbox review.
• Bad personal credit

• Fast cash
• No minimum personal credit score

• 3+ months in business

• $50,000+ annual revenue
• $1,000 to $100,000

• 10.1% to 79.8%
Kabbage_Logo_150x40
Apply now at Kabbage


Read our Kabbage review.
• Bad personal credit

• Newer businesses
• 560+ personal credit score

• 1+ years in business

• $50,000+ annual revenue
• $2,000 to $250,000

• 24% to 99%
OnDeckForTable
Apply now at OnDeck


Read our OnDeck review.
• Good personal credit

• Fast cash

• 600+ personal credit score

• 1+ years in business

• $100,000+ annual revenue
• Up to $100,000

• 11% to 63%
StreetShares loans
Apply now at StreetShares


Read our StreetShares review.
• Good personal credit

• Veterans

• Newer businesses
• 600+ personal credit score

• 1+ years in business

• $75,000+ annual revenue
• Up to $250,000

• 8% to 39.99%

Invoice factoring for businesses

Invoice factoring is a way to get immediate cash by borrowing against your unpaid customer invoices, which can help you fill cash-flow gaps while you wait for customers to pay. This type of financing is only for companies that sell goods and services to other businesses and, therefore, have invoices. Typically, invoice factoring costs are higher than with term loans and lines of credit.

Funding optionsGood option for: Do you qualify?Loan amount & APR
bluevine
Apply now at Bluevine


Read our BlueVine review.
• Bad personal credit

• Newer businesses

• Businesses with strong-credit customers
• 530+ personal credit score

• 3+ months in business

• $100,000+ annual revenue
• $20,000 to $5 million

• 15% to 68%
fundbox

Apply now at Fundbox


Read our Fundbox review.
• Bad personal credit

• Fast cash
• No minimum personal credit score required

• $50,000+ annual revenue required

• Must have compatible online accounting software
• $1,000 to $100,000

• 10.1% to 78.6%
Street Shares

Apply now at StreetShares


Read our StreetShares review.


• Businesses interested in government contracts
• 540+ personal credit score

• 1+ year in business

• 90% of invoices; 80% to 90% of a government contract

• 1% to 5.5%

Business lender reviews

BlueVine: Good for B2B businesses that deal with unpaid invoices and cash flow needs. You must have dependable customers. Also offers term loans and lines of credit.

Credibility Capital: Good short-term financing option for businesses with two years or more of history. Good credit is required.

Currency Capital: Faster way of applying for an equipment loan. Competitive rates for equipment financing of up to $2 million.

Fundbox: Great no-credit-check option if you have unpaid customer invoices or if you need a line of credit for short-term working capital.

Funding Circle: Term loan for growth. Rates are lower compared with other online lenders. Your finances must be in good shape.

Kabbage: Line of credit for urgent working capital needs. Minimal application requirements but can be pricey.

OnDeck: Quick, easy funding, but rates may be high. Good if you need money fast and your personal finances aren’t stellar.

QuarterSpot: Short-term financing option for borrowers who don’t have perfect credit.

StreetShares: Solid choice for working capital for businesses at one-year mark or more. Loan amounts are limited.

SmartBiz: Faster way of applying for an SBA loan. Least expensive online financing option. Requirements are stringent.

Also: If you are a business with less than a year of history, consider these startup financing options.

Compare business loans

If you’d like to compare all of your loan options, NerdWallet has a list of small-business loans that are best for business owners. All of our recommendations are based on the lender’s market scope and track record and on the needs of business owners, as well as rates and other factors, so you can make the right financing decision.