Small Business Loans for Good, Average and Bad Credit
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Small Business Loans for Good, Average and Bad Credit

Small business loans can be critical to your success as a business owner. Traditional banks are no longer your only option. From SBA loans to business lines of credit to invoice-based financing, you now have access to many options through online lenders. Find the business financing product that is best for you. Learn about loan/product types.
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Lender & loan typeAPRMin Credit Score

Bank loan

SmartBiz
Show qualifications
7-8%
Estimated APR*
600
Min Credit Score
Apply Nowon SmartBiz's secure website.
Show qualifications

Also recommended

Microloan

Show qualifications
8-13%
Estimated APR*
500
Min Credit Score
View Loanson NerdWallet.com
Show qualifications

Line of Credit

Lending Club
Show qualifications
6.5-22%
Estimated APR*
600
Min Credit Score
Apply Nowon LendingClub's secure website.
Show qualifications

Term loan

Lending Club
Show qualifications
8-32%
Estimated APR*
600
Min Credit Score
Apply Nowon LendingClub's secure website.
Show qualifications

Also recommended

Personal loan

Show qualifications
4.08-36%
Estimated APR*
580
Min Credit Score
View Loanson NerdWallet.com
Show qualifications

Term loan

Funding Circle
Show qualifications
8.5-33.5%
Estimated APR*
620
Min Credit Score
Apply Nowon Funding Circle's secure website.
Show qualifications

Also recommended

Business credit card

Show qualifications
13.33-29.99%
Estimated APR*
630
Min Credit Score
View Cardson NerdWallet.com
Show qualifications

Term loan

DealStruck
Show qualifications
10-28%
Estimated APR*
600
Min Credit Score
Apply Nowon DealStruck's secure website.
Show qualifications

Term loan

StreetShares
Show qualifications
9-40%
Estimated APR*
600
Min Credit Score
Apply Nowon StreetShares’ secure website.
Show qualifications

Line of credit

DealStruck
Show qualifications
25.5-25.5%
Estimated APR*
600
Min Credit Score
Apply Nowon DealStruck's secure website.
Show qualifications

Line of Credit

OnDeck
Show qualifications
14-36%
Estimated APR*
600
Min Credit Score
Apply Nowon OnDeck's secure website.
Show qualifications

Line of Credit

BlueVine
Show qualifications
16-62%
Estimated APR*
600
Min Credit Score
Apply Nowon BlueVine's secure website.
Show qualifications

Invoice factoring

FundBox
Show qualifications
13.5-67.5%
Estimated APR*
None
Min Credit Score
Apply Nowon Fundbox's secure website.
Show qualifications

Cash flow loan

OnDeck
Show qualifications
8.5-98%
Estimated APR*
500
Min Credit Score
Apply Nowon OnDeck's secure website.
Show qualifications

Invoice factoring

BlueVine
Show qualifications
17.5-60%
Estimated APR*
530
Min Credit Score
Apply Nowon BlueVine's secure website.
Show qualifications

Line of credit

Kabbage
Show qualifications
31.5-108%
Estimated APR*
None
Min Credit Score
Apply Nowon Kabbage's secure website.
Show qualifications
*Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information. All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.

SBA loan

The government-guaranteed business loan program works with banks to offer low interest rates and long-term repayment. SBA loans offer low rates and long repayment terms. But the process is time consuming and the requirements are strict. Only those with great personal credit, strong business finances and the bandwidth to wait for funding should apply. - Loan amounts: $30,000 to $5 million - APR range: 7% to 8% - Good for: large one-time investments, purchasing real estate or equipment, buying existing businesses, refinancing debt

Business term loan

Online lenders offer term loans of up to $500,000. For a short-term loan, the repayment period typically ranges from six to 12 months, while a long-term loan’s repayment can extend up to 10 years or longer in some cases. - APR range: 7% to 98% - Good for: large one-time investments

Business line of credit

A business line of credit provides you with access to flexible cash. Lenders give you access to a specific amount of credit (say, $100,000), but you don’t make payments or get charged interest until you tap into the funds. - Credit line range: $2,000 to $500,000 - APR range: 9% to 108% - Good for: managing cash flow, handling unexpected expenses and financing short-term business needs.

Invoice factoring

Invoice factoring lets your small business turn its invoices (the money owed by customers that has yet to be paid) into immediate cash. You sell the invoices to a factoring company, which then gets paid when it collects from your customers. If you’d rather maintain control over your invoices, invoice financing is an alternative to factoring. - Financing amounts: $500 to $500,000 - APR range: 11% to 64% - Good for: managing cash flow, short-term financing

Why these lenders?

Only about 1 in 5 businesses that apply for a loan from a big bank are approved. To solve that problem, we work with online lenders that specialize in making the loan application process simple. Plus, they're faster and offer more competitive rates than many banks.

How does NerdWallet make money?

We make money when you get the funding you need. Some of the loan providers on our site pay us a referral fee when customers like you get approved for a loan. We always try to find the best option for you, even if we don't have a paying relationship with that lender. We also actively turn down offers from lenders that we feel seek to take advantage of small business owners. Read more about how we make money.

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