A business loan provides capital to start, expand, or manage operations. These loans help businesses cover short-term expenses or fund long-term growth with scheduled repayments and interest.
Anywhere from $1,000 to over $5 million, depending on business needs and eligibility.
6 months to 25 years. Terms vary based on loan type (SBA, term, line of credit).
Rates start around 4% for SBA loans, and can go up to 35% for short-term or bad credit loans.
Determine how much capital you need and the purpose (startup, expansion, working capital, etc.).
Prepare business plans, revenue reports, tax returns, and bank statements.
Check banks, online lenders, and credit unions to find the best rates and terms.
Submit your application and wait for approval. Processing time varies by lender and loan type.
Once approved, funds can be disbursed within 24–72 hours, or weeks for larger loans like SBA.
| Lender | User Ratings | Best For | Max. Loan Amount | Term Length | Min. Interest Rate | Time in Business |
|---|---|---|---|---|---|---|
| Live Oak Bank | Coming soon | SBA-backed loans | $5,000,000 | Up to 25 years | 10.50% (variable), 12.50% (fixed) | Not disclosed |
| iBusiness Funding | Coming soon | Major capital investments | $500,000 | 6–60 months | 7.49% | 2+ years |
| Fundbox | ★★★☆☆ (32 reviews) | New businesses | $150,000 | 12 or 24 weeks | 4.66% | 3+ months |
| Amex Business Line of Credit | Coming soon | Good credit borrowers | $250,000 | 6–24 months | 3.00% | 1+ year |
| Taycor Financial | ★★★★☆ (155 reviews) | Equipment financing | $5,000,000 | 12–84 months | 7.99% | Not required |
| Fora Financial | ★★★☆☆ (27 reviews) | Short-term liquidity needs | $1,500,000 | Up to 18 months | 1.13 factor rate | 6+ months |
| Credibly | ★★★☆☆ (20 reviews) | Low credit score businesses | $600,000 | 6–24 months | 1.11 factor rate | 6+ months |
| OnDeck | ★★★★☆ (692 reviews) | Fast funding | $250,000 | Up to 24 months | 31.30% | 1+ year |
| Headway Capital | ★★★☆☆ (22 reviews) | Recurring business costs | $100,000 | 12–24 months | Not listed | 6+ months |
| Accion Opportunity Fund | Coming soon | Support for underrepresented entrepreneurs | $250,000 | 12–60 months | 8.49% | 1+ year |
| altLINE | Coming soon | Invoice factoring | $5,000,000 | Not applicable | 0.75% factor fee | Not required |
| Bank of America | ★★★☆☆ (18 reviews) | Building credit profile | $1,000+ | 12 months (annual review) | Not disclosed | 6+ months |
| National Funding | ★★★★☆ (107 reviews) | Discounts for early payment | $500,000 | 4–24 months | 1.11 factor rate | 6+ months |
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