Lender | Best for | Max loan amount | Min. credit score | APR range | Max term length |
|---|---|---|---|---|---|
| TAB Bank | Bank small-business loans | $200,000 | 650 | 8.99-35.99% | 5 years |
| PNC Bank | Bank lines of credit | $100,000 | 720 | 15.49-17.49% | See review |
| U.S. Small Business Administration | SBA loans | $5,000,000 | 650 | 10.25-12.75% | 25 years |
| Credibility Capital 4.5/5.0 | Established businesses | $500,000 | 650 | 9.49-15.49% | 5 years |
| Funding Circle 5.0/5.0 | Long-term loans | $500,000 | 660 | 5.99-16.49% | 7 years |
| OnDeck 5.0/5.0 | Short-term loans | $250,000 | 625 | 29.90-97.30% | 2 years |
| American Express Business Blueprint™ 4.5/5.0 | Online lines of credit | $250,000 | 640 | See review | See review |
| Fundbox 5.0/5.0 | Startup businesses | $150,000 | 600 | 10.10-79.80% | 6 months |
| Bluevine 5.0/5.0 | Borrowers with bad credit | $250,000 | 625 | 20.00-50.00% | 1 year |
| Triton Capital 4.0/5.0 | Equipment financing | $250,000 | 600 | 5.99-35.00% | 5 years |
Best for Bank small-business loans
Best for Bank lines of credit
Best for SBA loans
Max Loan
$5,000,000
Min. Credit Score
650
APR Range
10.25-12.75%
Max Term Length
25 years
Best for Established businesses
Max Loan
$500,000
Min. Credit Score
650
APR Range
9.49-15.49%
Max Term Length
5 years
Best for Long-term loans
Max Loan
$500,000
Min. Credit Score
660
APR Range
5.99-16.49%
Max Term Length
7 years
Best for Short-term loans
Best for Online lines of credit
Best for Startup businesses
Best for Borrowers with bad credit
Best for Equipment financing
Max Loan
$250,000
Min. Credit Score
600
APR Range
5.99-35.00%
Max Term Length
5 years
Best for
Bank small-business loans
Banks typically offer small-business loans with the lowest interest rates and most competitive terms. These products are well-suited for established businesses with collateral and strong credit.
TAB Bank - Term loan
Max loan
$200,000
Min. Credit score
650
Apr range
8.99-35.99%
Best for
Bank lines of credit
A bank line of credit offers greater flexibility than a term loan — allowing you to tap into a credit line and pay interest on only the portion of money you borrow. Bank credit lines are a good source of affordable working capital for established businesses.
PNC Bank - Line of credit
Max loan
$100,000
Min. Credit score
720
Apr range
15.49-17.49%
Best for
SBA loans
SBA loans offer favorable rates and terms and can be used for a variety of large and long-term funding purposes. These government-guaranteed loans are best for businesses that don’t meet bank eligibility criteria, but still have good credit and strong finances.
» MORE: NerdWallet’s guide to SBA loans
SBA 7(a) loan
Max loan
$5,000,000
Min. Credit score
650
Apr range
10.25-12.75%
Best for
Established businesses
Online term loans can be good options for established businesses that need faster financing than a bank or SBA loan. Businesses with a good credit and financial history can access the most competitive interest rates and repayment terms from online lenders.
» MORE: Best online business loans
Credibility Capital - Online term loan
Max loan
$500,000
Min. Credit score
650
Apr range
9.49-15.49%
Best for
Long-term loans
Long-term loans can help you expand your business — and provide more time to repay and lower monthly payments than short-term loans. Some online lenders can offer repayment terms up to seven years, with faster funding times than more conventional loan options.
» MORE: Best long-term business loans
Funding Circle - Online term loan
Max loan
$500,000
Min. Credit score
660
Apr range
5.99-16.49%
Best for
Short-term loans
Short-term loans can be good for businesses that need quick funding or those that can’t qualify for an SBA or bank loan. Short-term lenders generally have less-stringent eligibility requirements compared to traditional lenders and may work with startups or businesses with bad credit. Some lenders can also turn around funding within 24 hours.
» MORE: Best short-term business loans
OnDeck - Online term loan
Max loan
$250,000
Min. Credit score
625
Apr range
29.90-97.30%
Best for
Online lines of credit
Online business lines of credit are best for fast access to working capital, especially for new businesses or those with less-than-perfect credit histories.
American Express Business Blueprint™ - Line of credit
Max loan
$250,000
Min. Credit score
640
Best for
Startup businesses
Some online lenders offer business loans for startups with one year or less in operation. You’ll typically need at least six months in business to qualify.
Fundbox - Line of credit
Max loan
$150,000
Min. Credit score
600
Apr range
10.10-79.80%
Best for
Borrowers with bad credit
It can be more difficult to get a business loan with bad credit, but some online lenders are willing to work with borrowers who have a personal credit score below 630.
Bluevine - Line of credit
Max loan
$250,000
Min. Credit score
625
Apr range
20.00-50.00%
Best for
Equipment financing
Equipment financing is best for small businesses looking specifically to purchase machinery or equipment. Since the equipment itself serves as collateral, equipment loans can be more affordable and easier to qualify for than other types of small-business loans.
Triton Capital - Equipment financing
Max loan
$250,000
Min. Credit score
600
Apr range
5.99-35.00%
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- Why you need funding.
- How fast you need access to capital.
- How much capital you need.
- Your business’s qualifications.
- Total cost of debt.
Bank loan
- Loan amounts: $10,000 to $1 million.
- Approximate APR range: 4.90% to 9.83%.
- Best for: Working capital, expanding your business.
SBA loan
- Loan amounts: $30,000 to $5 million.
- Approximate APR range:10.25% to12.75%.
- Best for: Large one-time and longer-term investments, purchasing real estate or equipment, buying existing businesses and refinancing debt.
Business term loan
- Loan amounts: Up to $500,000.
- Approximate APR range: 6% to 99%.
- Best for: Large one-time investments.
Business line of credit
- Credit line range: $1,000 to $250,000.
- Approximate APR range: 10% to 99%.
- Best for: Managing cash flow, handling unexpected expenses and financing short-term business needs.
Equipment financing
- Loan amounts: Up to 100% of the value of the equipment, plus soft costs.
- Approximate APR range: 4% to 30%.
- Best for: Purchasing machinery and equipment.
Compare financing and apply
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Invoice factoring and invoice financing
- Financing amounts: Up to $5 million.
- Approximate APR range: 10% to 79%.
- Best for: Managing cash flow, short-term financing.
Personal loans and business credit cards
How Fundera by NerdWallet works
Getting a business loan can be challenging, and several factors — cost, speed, repayment schedule — can play a role in deciding which product is right for you. Let us help you through the process.
1. Fill out one simple application
Answer a few questions about your business to get personalized lending options. It’s free and won’t impact your credit score.
2. See your business loan options
It takes about three minutes to get options from our network of vetted small-business lenders. Compare interest rates and repayment terms to choose the best product for your needs.
3. Get your loan
If the lender approves you, you’ll sign closing documents in order to receive funds. Some lenders can approve and fund loans within one business day.
Methodology
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