| Lender | Best for | Max loan amount▼ | Min. credit score▼ | APR range | Max term length▼ |
|---|---|---|---|---|---|
| U.S. Small Business Administration | SBA loans | $5,000,000 | 650 | 11.50-15.00% | 25 years |
| Bank of America 5.0/5.0 | Bank small-business loans | $100,000 | 670 | See review | 5 years |
| Wells Fargo 5.0/5.0 | Bank lines of credit | $150,000 | 680 | 10.25-18.25% | See review |
| Funding Circle 5.0/5.0 | Long-term loans | $500,000 | 660 | 15.22-45.00% | 7 years |
| OnDeck 5.0/5.0 | Short-term loans | $250,000 | 625 | 35.40-99.90% | 2 years |
| Bluevine 5.0/5.0 | Fast financing | $250,000 | 625 | 20.00-50.00% | 1 year |
| Fundbox 5.0/5.0 | Startup businesses | $150,000 | 600 | 10.10-79.80% | 6 months |
| Fora Financial 4.5/5.0 | Borrowers with bad credit | $1,500,000 | 500 | See review | 1 year and 3 months |
| American Express Business Blueprint™ 4.5/5.0 | Online lines of credit | $250,000 | 660 | See review | See review |
| National Funding 4.5/5.0 | Unsecured loans | $500,000 | 600 | See review | 2 years |
| AltLINE 4.5/5.0 | Invoice factoring | $10,000,000 | 300 | - | - |
| Triton Capital 4.0/5.0 | Equipment financing | $250,000 | 600 | 5.99-35.00% | 5 years |
| Accion 4.0/5.0 | Women and minority groups | $250,000 | 570 | 7.49-24.99% | 5 years |
| U.S. Small Business Administration | Microloans | $50,000 | 620 | 8.00-13.00% | 7 years |
Best for SBA loans
Max Loan
$5,000,000
Min. Credit Score
650
APR Range
11.50-15.00%
Max Term Length
25 years
Best for Bank small-business loans
Best for Bank lines of credit
Best for Long-term loans
Max Loan
$500,000
Min. Credit Score
660
APR Range
15.22-45.00%
Max Term Length
7 years
Best for Short-term loans
Best for Fast financing
Best for Startup businesses
Best for Borrowers with bad credit
Best for Online lines of credit
Best for Unsecured loans
Best for Invoice factoring
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 Women and minority groups
Best for Microloans
Max Loan
$50,000
Min. Credit Score
620
APR Range
8.00-13.00%
Max Term Length
7 years
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
11.50-15.00%
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.
Bank of America Business Advantage Unsecured Term Loan
Max loan
$100,000
Min. Credit score
670
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.
Wells Fargo BusinessLine® Line of Credit
Max loan
$150,000
Min. Credit score
680
Apr range
10.25-18.25%
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
15.22-45.00%
Best for
Short-term loans
Short-term loans can be good for businesses that can’t qualify for an SBA or bank loan, or those that need quick funding. Short-term lenders generally have less-stringent eligibility requirements compared to traditional lenders and may work with startups or businesses with bad credit.
» MORE: Best short-term business loans
OnDeck - Online term loan
Max loan
$250,000
Min. Credit score
625
Apr range
35.40-99.90%
Best for
Fast financing
Online lenders typically offer simple applications and a streamlined underwriting process. Some companies can provide financing in as quickly as 24 hours — and most fund applications within a few business days.
Bluevine - Line of credit
Max loan
$250,000
Min. Credit score
625
Apr range
20.00-50.00%
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.
Fora Financial - Online term loan
Max loan
$1,500,000
Min. Credit score
500
Best for
Online lines of credit
Online business lines of credit are best for fast access to working capital, especially for newer businesses or those with less-than-perfect credit histories.
American Express® Business Line of Credit
Max loan
$250,000
Min. Credit score
660
Best for
Unsecured loans
Unsecured business loans don’t require you to put up specific collateral — like equipment, inventory or real estate — to secure financing. These loans can be a good option for newer companies that don’t have sufficient collateral to offer, or those who need funding fast.
National Funding - Online Term Loan
Max loan
$500,000
Min. Credit score
600
Best for
Invoice factoring
Invoice factoring allows business-to-business companies to access capital that’s tied up in unpaid invoices. This type of fast funding can be useful for managing cash flow issues or paying short-term expenses.
AltLINE - Invoice Factoring
Max loan
$10,000,000
Min. Credit score
300
Best for
Equipment financing
Equipment financing is best for small businesses looking 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
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
600
Apr range
5.99-35.00%
with Fundera by NerdWallet
Best for
Women and minority groups
Nonprofit and community lenders often provide loans to traditionally underserved business owners who may not qualify for other funding options. These institutions also offer business training, coaching and other educational resources.
Accion - Business Loans
Max loan
$250,000
Min. Credit score
570
Apr range
7.49-24.99%
Best for
Microloans
SBA microloans are small-sized loans available in amounts up to $50,000. These loans are issued by participating community lenders — and have more flexible requirements than other types of SBA loans.
SBA Microloan
Max loan
$50,000
Min. Credit score
620
Apr range
8.00-13.00%
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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.
SBA loans
- Loan amounts: $30,000 to $5 million.
- Approximate APR range:11.5% to15%.
- Best for: Large one-time and longer-term investments, purchasing real estate or equipment, buying existing businesses and refinancing debt.
Bank loans
- Loan amounts: $10,000 to $1 million.
- Approximate APR range: 5.75% to 11.91%.
- Best for: Working capital, expanding your business.
Business term loans
- Loan amounts: Up to $500,000.
- Approximate APR range: 6% to 99%.
- Best for: Large one-time investments.
Business lines of credit
- Credit line range: $1,000 to $250,000.
- Approximate APR range: 10% to 80%.
- 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 45%.
- 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.
USDA business loans
- Rural Microentrepreneur Assistance Program. Offers loans to rural businesses with 10 or fewer full-time employees.
- Rural Economic Development Loan Program. Provides loans to fund projects that will create or retain rural jobs.
- Rural Energy for America Program. Offers financing to agricultural producers and rural businesses for renewable energy systems or to make energy efficiency improvements.
SBA disaster loans
- Home and personal property loans. Used to repair your home and personal property.
- Business physical disaster loans. Used to repair or replace business property, machinery, equipment and inventory.
- Economic injury disaster loans (EIDL). Provides working capital when you can’t pay your typical operating expenses as the result of a disaster.
- Military reservists economic injury disaster loans (MREIDL). Used to help pay for operating expenses when you can no longer afford to do so as the result of an essential employee being called up to active service as a military reservist.
Indian Loan Guaranty, Insurance and Interest Subsidy Program
- An individual who is an enrolled member of a federally recognized American Indian tribe or Alaska Native group
- A federally recognized American Indian Tribe or Alaska Native group.
- A corporation, limited liability company, or other business entity with no less than 51% ownership by federally recognized American Indians or Alaska Natives.
Farm Service Agency loans
- Ownership loans. Can be used to purchase or expand a farm or ranch.
- Operating loans. Can be used to cover everyday costs and family living expenses, as well as equipment, seed and livestock purchases.
- Microloans. Designed for small and beginning farmers, as well as non-traditional agricultural operations. You can choose between ownership and operating microloans.
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
🏦 Curious about SBA loans?
Here’s an overview of how SBA loans work, the types of SBA loans that are available, what each loan type can be used for and how to get SBA financing for your small business.
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