Small Business Lending Options

LenderLending OptionsMinimum QualificationsLoan Details


U.S. Small Business Administration

https://disasterloan.sba.gov/ela/

About U.S. SBA
The U.S. Small Business Administration is a U.S. government agency that provides support to entrepreneurs and small businesses. Their mission is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters".
  • Disaster Term Loan: ($40K - $2M; For Small Business Economic Injury)
  • 1 - 5 yr. repayments terms
  • Requires 550+ FICO (Higher personal Credit Score)
  • SBA Verifier will estimate total physical loss to your disaster damaged business.


U.S. Administration designed to help relieve the stress of business owners during a local or national disaster. It is a very detail oriented process, and certainly will take the longest time to receive funds out of the competitors on this list, but it is government backed and guaranteed.
  • If approved, $50,000 will be immediately sent for Physical damage & Economic Injury. Very generous repayment terms.
  • Typically takes 2 - 3 weeks to receive full loan amount.
  • Estimations are very critical, and take everything into account.
  • Credit score matters.


Small Business Advocacy Council (Chicago Small Business Resiliency Fund)

https://www.smallbusinessadvocacycouncil.org/

About Chicago SBA
Launched in 2010 by Elliot Richardson, the SBAC is a full-service advocacy organization and works to empower its members in four distinct ways. Gives members a voice in D.C.; Connects entrepreneurs with other members; Offers educational programming to promote business practices and encourage growth; and provide exclusive benefits to members.
  • Special "One-time Crisis Fund" for small businesses in Chicago.
  • Pooled funds of $100M to pull from once approved.
  • Term loan up to $50K; (Repayment term of 1 - 5 yrs).
  • Business needs to prove more than a 25% revenue decrease in response to COVID-19.
  • Must employ fewer than 50 employees.
  • Must have gross revenue less than $3M in 2019.
  • No pre-existing tax liens or legal judgements.
  • Provide a City business address or City business license.


  • This is a specific fund for small businesses in the Chicago, IL area.
  • Large pool of money to pull from, very generous repayment terms; money is received within 5 days.General max of $50K (Special cases can be made).
  • Proceeds must be used toward payroll and commitment to retain current workforce.


Bluevine

https://www.bluevine.com/

About Bluevine
Founded in 2013, Bluevine has delivered $2B+ in funding to 20,000+ Small Business Owners. The Founder and CEO is Eyal Lifshitz. Known primarily for Invoice Factoring for B2B, but also offers lines of credit for B2B & B2C.
  • Unsecured Line of Credit (Up to $250,000 over 12-18 Months)
  • Term Loan
  • Invoice Factoring (Up to $5M; Rates as low as 4.8% & approval as fast as 5 mins.)
  • 600+ FICO
  • 6+ months in business; $10,000 in monthly revenue.


Bluevine doesn't require that businesses have a long operating history, but you must have at least fair credit and make at least $120,000 per year to qualify.
  • Applying is free.
  • No fees to open or maintain your line.
  • No prepayment fees, monthly maintenance fees, or account closure fees.
  • Credit Score Check
  • The line of credit requires a personal guarantee.
  • The factoring is not available to freelancers or B2C. Transactions are full recourse.


Kabbage

https://www.kabbage.com/

About Kabbage
Kabbage, Inc., founded in 2008, is an online financial technology company based in Atlanta, Georgia. The company provides funding directly to small businesses and consumers through an automated lending platform.
  • Unsecured Line of Credit (Up to $250,000 over 12-18 Months)
  • Operating for at least 1 yr.
  • Revenue is $50,000/yr or $4,200/month over the last three months.


Kabbage is one of the more well known online lenders. They have relatively low requirements compared to their competitors, while still maintaining a certain bar of success.
  • Applying is free.
  • No Credit Check.
  • No prepayment fees/penalties.
  • Automated system that you can access 24/7.
  • Every month you pay back on loan plus a monthly fee.


Fundbox

https://fundbox.com/

About Fundbox
Fundbox, founded in 2013, is a fintech company based in San Francisco. They use big data analytics, engineering, and predictive modeling to help optimize cash flow for small businesses and freelancers with outstanding invoices. 100,000+ businesses impacted. First did invoice financing, and then added lines of credit.
  • Unsecured Line of credit (Up to $150,000; Specialized Repayment Schedule)
  • Invoice Financing
  • Business Checking Account
  • Shared Business History
  • U.S. based business only
  • Credit Score 500+


Much like Kabbage, Fundbox is an online lender that offers fast, automated application processes. Initially, Fundbox provided invoice financing, but the lender now offers lines of credit in addition to that service.
  • Applying is free.
  • No prepayment fees; set repayment schedule (pay same amount every week).
  • Credit Score Check


FinanceFuel.com

https://www.financefuel.com/

About FinanceFuel
FinanceFuel.com provides capital to small and medium businesses & startups based on their revenue or invoices. Whether you get paid by a customer in 30, 60, 90 days or from an e-commerce platform like Amazon, Shopify, or Ebay in weeks or months, they get you paid right away.
  • AR Factoring (Invoice Factoring) for quick payments.
  • As little as 24 Hours.
  • No personal guarantee.
  • Only receive money for invoices determined if approved.
Apply on their website, connect them to your accounting software, and they check for what they need.

Primarily offering AR Factoring, they can give your struggled wait for invoices a bit of ease. With quicker access to cash, and unique requirements, they may be the right choice for a small business.
  • Fund approval determined quickly.
  • No credit check.
  • They do the heavy lifting themselves when you connect them to your accounting software.
  • You do not determine what they look at, they look at it all.
  • They determine repayment schedule with a monthly fee.


OnDeck Capital

https://www.ondeck.com/

About OnDeck Capital
OnDeck Capital is a global online small business lending company, founded in 2006, that is listed in the U.S. It has offices in New York, Arlington, Virginia, and Denver; Toronto and Montreal in Canada; and Sydney in Australia. Current CEO is Mitch Jacobs, with ~500 employees. Great option for companies that do not have a high credit score.
  • Unsecured Line of Credit ($6K-$100K; 6-12 Month repayment)
  • Term Loan ($5K-$500K)
  • Business is 3 yrs. Old; 600+ FICO
  • Annual Revenue $250K+
  • Must have a Business Bank Account


OnDeck may be the right lender for you if you have an established business but don't have a high credit score. As long as you meet the time in business and revenue requirements, OnDeck might be able to lend to you even if your credit score is as low as 600.
  • Instant Funding (typically sent to your account within seconds)
  • Evolving line of credit
  • No prepayment penalties
  • Credit Score Check
  • Above Average Minimum Requirements


Lending Club

https://www.lendingclub.com/

About Lending Club
Lending Club is an American peer-to-peer lending company, headquartered in San Francisco, and founded in 2008. It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission, and to offer loan trading on a secondary market. Over $28B in small business loans facilitated through Lending Club.
  • Unsecured Line of Credit ($5K-$500K)
  • 12 Month repayment
  • Business is at least 12 Months old
  • At least $50K in annual sales
  • No recent bankruptcies or tax liens
  • You own at least 20% of the business and have at least fair or better personal credit.


Lending Club, much like Kabbage, is an online lender. They have a lot of automated services, and can give you access to your money 24/7. They have a long history of success, and relatively low requirements.
  • Provide your own U.S.-based Client Advisor
  • No prepayment penalties
  • Not charged total interest even if prepayment happens
  • Requirements require both business, and personal credit score checks


Headway Capital

https://www.headwaycapital.com/

About Headway Capital
Headway Capital is part of a publicly traded company: Enova International. They provide a line of credit to small business owners. Very experience team at Headway is always ready to assist in a businesses financial needs.
  • Unsecured Line of Credit ($5K-$100K)
  • 12, 18, or 24 Month repayment
  • Business must be at least 12 Months old
  • At least $50K Annual Revenue; anything additional will be determined by location.


Having the backing of a larger, Fortune 500 International parent company, Headway Capital is staffed and operated with high level technically proficient professionals. They only provide a line of credit, but with their low requirements, it may be the right choice.
  • No hidden fees
  • Evolving line of credit
  • Use of a unique underwriting model when applying
  • Loan recipient can pay back weekly or monthly
  • Credit Score Check
  • Lower "Max" loan amount
  • additional requirements dependent on location


LoanBuilder

https://www.loanbuilder.com/lb/home

About LoanBuilder
Previously "Swift Financial", once they were acquired by PayPal they changed their name, and continue to provide working capital to small businesses.
  • Term Loan ($5K-$500K; 13-52 weeks repayment)
  • Business is at least 9 months old
    • Must be located within the U.S.
  • $42K in Annual Revenue


LoanBuilder is a lending service offered by PayPal. Although LoanBuilder does not offer lines of credit, borrowers benefit from a fast application process and customizable terms. This lender offers short-term loans up to $500,000 with term lengths of 13-52 weeks.
  • No prepayment fees
  • Lower than average minimum requirements.
  • Very short repayment schedule
  • Credit Score Check
  • This is not a revolving line of credit (Single Loan).


Fundation

https://fundation.com/

About Fundation
Fundation was founded on the premise of re-engineering the credit delivery process to small businesses through technology and advanced analytics. Companies ranging from super regional banks to community banks to a variety of B2B companies trust them to be their exclusive partner.
  • Unsecured Line of Credit ($5K-$150K; 18 month repayment)
  • Term Loans ($5K-$500K)
  • Up to 4yr repayment)
  • No Minimum Requirements spoken of, however they do take into account
  • Business Stability
  • Financial Metrics (Revenue, profitability, growth, margins)
  • Credit History (Personal & Business)
  • Cash Flow & Debt


Fundation is one of the most difficult lenders on this list to qualify for. If you do qualify, however, you'll benefit from lower rates and fees than you'd be able to find elsewhere.
  • No prepayment fees
  • No collateral required, personal guarantee
  • Need at least 3 employees for the line of credit
  • For the term loan, requires personal guarantee and payment are twice a month


StreetShares

https://streetshares.com/

About StreetShares, Inc.
StreetShares, Inc. is a financial technology company and small business funding marketplace, founded in 2013, based outside of Washington, D.C.
  • Unsecured Line of Credit ($5K-$250K; 3-36 month repayment)
  • Term Loans ($2K-$250K; 3-36 Month repayment)
  • Contract Financing (much like invoice financing)
  • Must be a U.S. Resident
  • In business for at least 1yr
  • Earning a minimum amount of revenue (undisclosed)
  • A business guarantor with reasonable credit (undisclosed)


StreetShares offers term loans, lines of credit, and contract financing (a non-loan service similar to invoice factoring). For term loans and lines of credit, businesses can borrow up to 20% of their annual revenue, with a limit of $250,000.
  • No prepayment fees
  • Quick application process
  • Long term repayment terms
  • Credit Score Check
  • Need for U.S.Citizenship


Funding Circle

https://www.fundingcircle.com/us/

About Funding Circle
Funding Circle is a peer-to-peer lending marketplace that allows the public to lend money directly to small and medium-sized businesses. To date, they have helped 81,000+ businesses access to $10.9B+ in financing.
  • Term Loan ($25K-$500K)
  • 12, 24, or 36 month repayment
  • 2yrs in business
  • 660+ FICO
  • No bankruptcies in the last 7 yrs
  • Any state but Nevada


Funding Circle has a very interesting business model that they have created to help small/medium sized business get the money they need. They do have higher than average minimum requirements when looking at the competition, however they do seem to have done well for themselves.
  • Long repayment terms
  • Interesting business model
  • Higher than average minimum requirements compared to competitors


LenCred

https://www.lencred.com/

About LenCred
LenCred is a small business funding platform that helps companies with financial education and startup loans or working capital. They provide in-depth credit, income, and financial background reviews before submitting applications to lenders on business owner's behalf.
  • Unsecured Line of Credit ($25K-$200K)
  • 12 - 18 Month Repayment
  • No revenue requirements (however they say companies that have between 0-$250K work best with them)
  • Good Credit (600+)
  • 9 months old minimum


LenCred is an organization that truly wants to help small businesses build their credit, and are willing to help fund with some of the lowest minimum requirements on the market. That being said, if you have bad credit and next to nothing for monthly revenue, you may get the money you need, but they hold stake in helping you build your credit up.
  • Very low minimum requirements
  • Designed to give you personal to help build your credit up
  • Put a lot of weight on working with your credit score (might sacrifice some effort in doing so).


LoanMe

https://www.loanme.com/

About LoanMe
LoanMe is an online small business and personal loan provider that offers loans from $600-$250K. LoanMe has a quick online application and no credit score requirements.
  • Term Loan ($3.5K-$250K)
  • 13-48 Weeks for repayment
  • Borrower is at least 21 yrs old
  • Business Checking account
  • Online Banking
  • Valid I.D.


LoanMe has primarily a personal loan provider, but broke into the small business loan market fairly recently. They do not require any kind of credit score check, but they have very short repayments terms if you are approved.
  • No Prepayment fees
  • No collateral
  • No credit score requirements
  • Short repayments terms
  • Not a lot of business background for LoanMe


Seek Business Capital

https://www.seekcapital.com/

About Seek Business Capital
Seek Business Capital provides consulting services and funding procurement to small businesses across America. Their primary goal is to solve one basic problem: small businesses need fast access to financing.
  • Term Loans ($5K-$500K)
  • 12-18 month repayment terms
  • In business for at least 12 months; 600+ FICO


Seek Business Capital primarily offers consulting services to small businesses, however they also want to help them get funding as well through their term loans. They have very low minimum requirements, and seem to have flexible repayment options.
  • No Financials or Tax Returns needed
  • No collateral required
  • Flexible payment options
  • Only Term Loans offered
  • Primarily focused on their consulting practice (might try to convince you to use theirs)


Accion

https://www.accion.org/

About Accion
Accion is an international nonprofit. Founded as a community development initiative serving the poor in Venezuela, Accion is known as a pioneer in the fields of microfinance and fintech impact investing.
  • Term Loans ($300-$250K)
  • 1yr - 5yrs repayment terms
  • 575+ FICO
  • Must be current on all debt & bills
  • Must have current positive cash flow
  • Not declared bankruptcy in the last 12 months
  • Separate requirements for Start-ups


Accion has a very unique business model much like Funding Circle. Both companies rely primarily on public donations, and some larger primary investors to supply their funds. That being said, Accion does seem to have lower than average minimum requirements, but they may have some "unique" ones that are undisclosed.
  • Low required credit score
  • Only need positive cash flow for the next 12 months, no need for an exact revenue/month amount
  • Small business loans is a fairly new endeavor for this company
  • They may have "unique" requirements that are undisclosed on website


CanCapital

https://www.cancapital.com/

About CanCapital
CanCapital has provided $7B+ in funds to 81,000+ small businesses nation wide.
  • Short Term Loans ($2.5K-$250K; 6-18 month repayments terms)
  • Merchant Cash Advance (much like AR/Invoice Factoring)
  • At least 6 months in business
  • $150K+ gross revenue
  • Less than $175K in outstanding tax liens/judgements
  • No personal/business bankruptcy in the last year


CanCapital takes a more traditional approach to small business loans like Kabbage or Bluevine. They do have very short repayments terms, but they do not ask for a credit check. First company researched so far that offers a prepayment discount however.
  • Fast Approval
  • Funds can be deposited as fast as next day
  • Fixed daily payments
  • Potential for prepayment discount
  • Potential for up to a 3% origination fee
  • Short repayment terms
  • Personal guarantee required


Credibility Capital

https://credibilitycapital.com/loan-products

About Credibility Capital
Credibility Capital Lends exclusively to Small Businesses, matching businesses with institutional investors to fund loans ranging from $25,000 to $350,000.
  • Term loan up to $250,000
  • 6-18 month period
  • Must have $250,000 in annual revenue
  • Must be in business for 2 years.
  • No prepayment penalty.
  • Can save with extra monthly payments.
  • Unavailable in NV, ND, SD, VT


SmartBiz Loans

https://www.smartbizloans.com/

About SmartBiz Loans
SmartBiz Loans is the #1 online marketplace for SBA loans, providing the right loan at the right time for your small business. SBA loans from SmartBiz marketplace banks can be used for debt refinance, working capital, and commercial real estate purchases or refinance.
  • Term Loans ($30K-$350K; 10 - 25 yrs for repayment terms)
  • 2+ years in business
  • Must be a U.S. business owner
  • 650+ FICO


    • SmartBiz Loans has a long lasting, successful history for online SBA marketplace loans. Their repayment terms are very generous, but they have high minimum qualifying requirements before you can get that.
  • Very long repayment terms
  • Large pool of potential funds
  • Minimum requirements demand a high credit score and being in business for longer than their competitors requirements.


Rapid Finance

https://www.rapidfinance.com/

About Rapid FinanceRapid Finance is a technology-powered financial services company that provides working capital to small and mid-sized businesses in the U.S. As a sister company of Quick Loans, it offers small and medium business loan programs for business owners in a variety of industries and categories.
  • Term Loans ($5K - $1M; 3 - 60 Months for repayments terms)

  • Invoice Factoring
  • Lines of Credit
  • Must have a Business Checking Account
  • Must show positive Cash flow from last 3 months.


Further loan details undisclosed on the website.

Rapid Finance has the added benefit of being a sister company to Quicken Loans, who has a long lasting successful history. They offer a large potential pool for funds, and what seems to be a longer potential repayment term length. However, it is hard to determine what drives their approvals.
  • Large availability of different kinds of loans
  • Potential for long term repayment terms
  • Potential for a large pool of available funds.
  • Credit Score most likely impacts approval


PayPal - Working Capital

https://www.paypal.com/workingcapital/
  • Working Capital Loan up to 35% of PayPal Sales.
  • Must have a PayPal Business Account for 3 months.
  • Loan based on PayPal sales, not your credit.
  • Funding in minutes.
  • PayPal Business Account Required.


PayPal - Business Loan

https://www.paypal.com/us/webapps/mpp/paypal-business-loan
  • Business loan up to $500,000.
  • 13 -52 week loan period.
  • Requires $42,000 in annual revenue and in business for 9 months.
  • Least stringent credit requirements.
  • PayPal business account required and personal guarantee required.


Fundera

https://www.fundera.com/

About Fundera
Fundera strives to give business owners the tools and advice they need to build great businesses. They have provided $1B+ in funds to 35,000+ businesses nationwide.
  • Term Loans ($25K - $500K; 1 - 5 yrs for repayment terms)
  • Lines of Credit
  • Invoice Factoring
  • At least $15,000 in PayPal annual sales.
  • Flexible terms


Fundera has a smaller amount of impact when compared to some of their competitors. This may be to their higher than average minimum requirements. They have the highest required FICO credit score of the companies on this list. However, they do offer flexible terms and a strong pool of potential funds for companies that do get approved.
  • Set payment structures; lower monthly payments than short-term loans.
  • Potential prepayment penalties.
  • Highest required Credit Score.
  • One of the largest annual revenue requirements.