5.0
★★★★★ 5/5
Small business loans are financial tools designed to support entrepreneurs and business owners in managing and growing their ventures. These loans are tailored to meet the unique needs of small businesses, providing a vital lifeline for both new and established companies. When starting a business, these loans can be instrumental in covering initial costs such as acquiring equipment, leasing office space, or hiring staff. For businesses looking to expand, they offer the necessary capital for scaling operations, increasing inventory, or even marketing and advertising initiatives.
Editor, Working Capital Staff
Editor’s note: At WorkingCapital, our revenue is partly generated through commissions earned from affiliate links. It’s important to clarify that these commissions have no impact on the views or evaluations made by our editorial team.
Our editorial integrity is paramount. We offer unbiased evaluations and insights, unaffected by advertisers. Our method is based on a data-driven approach, guaranteeing uniform and equitable evaluation of all financial entities and products. To gain insight into our editorial principles and the particular criteria employed in our reviews, please consult our Evaluation Method.
Best 0% APR Credit Card
Earn unlimited 2% cash rewards on purchases
Welcome Bonus
$200 Cash Rewards
Annual Fee
$0
Regular APR
20.24%, 25.24%, or 29.99% variable APR
Credit Score
Excellent, Good (700 - 749)
BEST FOR SHORT-TERM LOANS
$5,000 to $250,000
Not disclosed
625
BEST FOR FLEXIBLE LINES OF CREDIT
On BlueVine's Website
On BlueVine's Website
$6,000 to $250,000
Not disclosed
$625
BEST FOR SHORT-TERM LOANS
$5,000 to $250,000
Not disclosed
625
BEST FOR SHORT-TERM LOANS
$5,000 to $250,000
Not disclosed
625
BEST FOR SMALL BUSINESS FINANCING & EQUIPMENT FINANCING
$10,000 to $500,000
7.49%
550
BEST FOR LOAN OPTIONS
On Biz2Credit's Website
On Biz2Credit's Website
$25,000 to $500,000
Not disclosed
660
BEST FOR ESTABLISHED BUSINESSES
On Business Loans's Website
On Business Loans's Website
$25,000 to $500,000
As low as 7.49%
660
BEST FOR HEALTHCARE PROFESSIONALS
On Business Loans's Website
On Business Loans's Website
$10,000 to $1 million
Not disclosed
660
BEST FOR QUICK APPROVALS
On Fundbox's Website
On Fundbox's Website
$1,000 to $150,000
Start at 4.66%
600
BEST FOR SMALL- TO MID-SIZED BUSINESSES
On National Funding's Website
On National Funding's Website
$10,000 to $500,000
Buy rates start at 1.11%
$600
BEST FOR SHORT-TERM LOANS
$5,000 to $250,000
Not disclosed
625
BEST FOR SMALL AND LARGE LINES OF CREDIT
On American Express's Website
On American Express's Website
$2,000 to $250,000
N/A
At least 660 FICO at the time of application
BEST FOR FAST FUNDING
On QuickBridge's Website
On QuickBridge's Website
Up to $500,000
Factor rates start at 1.11
$600
BEST FOR A LENDER COMPARISON SITE
On Lendio's Website
On Lendio's Website
$500 to $5 million
As low as 3%
560
BEST FOR SHORT-TERM LOANS
On ondeck's Website
On ondeck's Website
$5,000 to $250,000
Not disclosed
625
| Company | Best For | Loan Amount | APR | Min. Credit Score |
|---|---|---|---|---|
 Recession Proof Capital | Best for short-term loans | $5,000 to $250,000 | Not disclosed | 625 |
 BlueVine | Best for flexible lines of credit | $6,000 to $250,000 | Not disclosed | $625 |
 Driven Funding | Best for short-term loans | $5,000 to $250,000 | Not disclosed | 625 |
 Elevator Funding | Best for short-term loans | $5,000 to $250,000 | Not disclosed | 625 |
 Cardiff | Best for small business financing & equipment financing | $10,000 to $500,000 | 7.49% | 550 |
 Biz2Credit | Best for loan options | $25,000 to $500,000 | Not disclosed | 660 |
 Funding Circle | Best for established businesses | $25,000 to $500,000 | As low as 7.49% | 660 |
 TD Bank | Best for healthcare professionals | $10,000 to $1 million | Not disclosed | 660 |
 Fundbox | Best for quick approvals | $1,000 to $150,000 | Start at 4.66% | 600 |
 National Funding | Best for small- to mid-sized businesses | $10,000 to $500,000 | Buy rates start at 1.11% | $600 |
 Meltzer Funding | Best for short-term loans | $5,000 to $250,000 | Not disclosed | 625 |
 American Express® Business Line of Credit | Best for small and large lines of credit | $2,000 to $250,000 | N/A | At least 660 FICO at the time of application |
 QuickBridge | Best for fast funding | Up to $500,000 | Factor rates start at 1.11 | $600 |
 Lendio | Best for a lender comparison site | $500 to $5 million | As low as 3% | 560 |
 ondeck | Best for short-term loans | $5,000 to $250,000 | Not disclosed | 625 |
Keep these key points in mind when assessing small business loans:
In our analysis of 25 renowned lending institutions, we evaluated them based on 16 distinct data points across five key categories: specifics of the loan, costs associated with the loan, criteria for eligibility and accessibility, overall customer experience, and the efficiency of the application process. Our selection of the top nine lenders was informed by the relative importance assigned to each of these categories:
Our comprehensive review within these primary categories included examining factors such as available loan amounts, the terms for repayment, and any relevant fees. We also assessed lenders based on their minimum credit score requirements, the required duration of business operation, and the lender’s geographical reach. Additionally, we looked into each provider’s customer support capabilities, advantages offered to borrowers, and features that streamline the loan process, like online application facilities, prequalification features, and mobile application availability.
Lenders were scored on a nuanced scale, with partial points awarded based on their performance against each specific criterion.
WorkingCapital is not a lender or a broker. Working Capital does not offer loans, credit lines, credit cards or any type of consumer or business financing whatsoever. Rather, Working Capital provides a platform to connect borrowers with potential lenders, which may result in borrower obtaining a loan or other type of financing. The loan approval process, qualifying criteria, as well as but not limited to the terms of any financing and the terms thereof.
Reproduction in whole or in part is strictly prohibited.
© 2023 Working Capital, LLC
WorkingCapital is not a lender or a broker. Working Capital does not offer loans, credit lines, credit cards or any type of consumer or business financing whatsoever. Rather, Working Capital provides a platform to connect borrowers with potential lenders, which may result in borrower obtaining a loan or other type of financing. The loan approval process, qualifying criteria, as well as but not limited to the terms of any financing and the terms thereof.
Reproduction in whole or in part is strictly prohibited.
WorkingCapital is not a lender or a broker. Working Capital does not offer loans, credit lines, credit cards or any type of consumer or business financing whatsoever. Rather, Working Capital provides a platform to connect borrowers with potential lenders, which may result in borrower obtaining a loan or other type of financing. The loan approval process, qualifying criteria, as well as but not limited to the terms of any financing and the terms thereof.
Reproduction in whole or in part is strictly prohibited.