Our picks in detail
7aBest for low rates and long terms
SBA 7(a) loan · Government-guaranteed term loan
4.8/510.5% to 14.5% APR
Max amount$5M
Min credit650
Time in business24 mo
Funding speed30 to 90 days
If you can qualify and can wait, an SBA 7(a) loan is usually the cheapest long-term money available to a small business. The government guarantee lets banks lend to companies they would otherwise decline, with ten-year terms for working capital and up to 25 years for real estate. The cost is paperwork and time.
Pros
- Lowest rates of any option on this page
- Terms up to 10 years (25 for real estate)
- Large maximum at $5 million
- Can be used for almost any business purpose
Cons
- Slow: expect one to three months
- Heavy documentation and a personal guarantee
- Harder to qualify with weak credit or under two years in business
- Guarantee fees on larger loans
BvBest for fast fundingPartner
Bluevine · Business line of credit
4.6/5From 7.8% simple interest
Max amount$250K
Min credit625
Time in business12 mo
Funding speedAs fast as 24 hours
Bluevine is one of the quickest ways for an established business to open a revolving line it can draw on repeatedly. Approval is often same-day and funds can land in 24 hours. The trade-off is a one-year time-in-business floor and weekly payments on the shorter term.
Pros
- Decisions in minutes, funding in as little as 24 hours
- Revolving: draw, repay, and draw again without reapplying
- No origination, maintenance or prepayment fees
- Monthly payment option on the 12-month term
Cons
- Requires 12 months in business and $10,000 a month in revenue
- Not available in Nevada, North Dakota or South Dakota
- Weekly payments on the 6-month term
- Personal guarantee required
FbBest for newer businessesPartner
Fundbox · Business line of credit
4.6/54.66% to 8.99% fee
Max amount$150K
Min credit600
Time in business3 mo
Funding speedNext business day
Fundbox has one of the lowest barriers to entry of any legitimate lender: three months in business, $30,000 in annual revenue and a 600 credit score. That makes it a realistic first line of credit for a young company, as long as you treat it as short-term working capital and not cheap money.
Pros
- Accepts businesses as young as 3 months
- Low revenue requirement
- Next-day funding on draws
- No prepayment penalty; fees stop when you repay early
Cons
- Short 12- or 24-week repayment plans
- Weekly payments
- Fees are higher than bank rates when annualized
- Maximum line is modest at $150,000
OdBest for short-term expenses
OnDeck · Term loan
4.5/527.3% to 99.9% APR
Max amount$250K
Min credit625
Time in business12 mo
Funding speedSame day in many states
OnDeck is the reference point for fast online term loans. It funds quickly, reports to business credit bureaus, and rewards repeat borrowers with better terms. It is also expensive, so it suits short, high-return uses like inventory ahead of a busy season rather than long-term projects.
Pros
- Same-day funding available in many states
- Reports payments to business credit bureaus
- Loyalty benefits and lower rates for repeat borrowers
- Prepayment benefit on eligible loans
Cons
- High APRs compared with banks and SBA loans
- Daily or weekly repayment schedule
- Requires a business lien and personal guarantee
- Not available in Nevada, North Dakota or South Dakota
AoBest for underserved owners
Accion Opportunity Fund · Small business term loan
4.6/58.49% to 24.99% APR
Max amount$250K
Min credit600
Time in business12 mo
Funding speedAbout a week
Accion Opportunity Fund is a nonprofit CDFI, and it shows in the pricing: APRs that start in the single digits for borrowers who would pay three times that online. It focuses on underserved owners and pairs loans with free coaching. The catch is modest maximums and a slower, more hands-on process.
Pros
- Nonprofit pricing with fixed APRs
- Mission focus on women, minority and low-income owners
- Free business coaching and resources
- Monthly payments
Cons
- Maximum of $250,000
- Slower than online lenders
- Not available in every state
- Requires 12 months in business
FoBest for bad credit
Fora Financial · Term loan
4.3/51.10 to 1.40 factor
Max amount$1.5M
Min credit570
Time in business6 mo
Funding speed24 to 72 hours
Fora Financial will look at owners other lenders turn away: a 570 credit score and six months of history can get an approval if revenue is strong. The cost is a factor-rate loan with daily or weekly payments. Use it when the alternative is a merchant cash advance, and refinance into something cheaper as soon as your file improves.
Pros
- Accepts credit scores as low as 570
- Six months in business is enough
- Large maximum relative to the credit requirement
- Prepayment discount available
Cons
- Factor-rate pricing means a high effective APR
- Needs about $15,000 in monthly revenue
- Daily or weekly payments
- Short terms
NFBest for equipment
National Funding · Equipment financing
4.4/51.10 to 1.36 factor
Max amount$150K
Min credit600
Time in business6 mo
Funding speed24 to 72 hours
National Funding finances new and used equipment with a lower credit bar than banks and a quick turnaround. The equipment itself secures the loan, so the file can be weaker than for an unsecured loan. Pricing is factor-based, so compare the total cost against an SBA or bank equipment loan if you can wait.
Pros
- Finances new and used equipment
- 600 minimum credit score
- Early payoff discount
- Funding in as little as 24 hours
Cons
- Factor-rate pricing
- $250,000 annual revenue requirement
- Maximum of $150,000 for equipment
- Fees and rates are not published upfront
aLBest for unpaid invoices
altLINE · Invoice factoring
4.4/50.5% to 3% fee
Max amount$5M
Min creditN/A
Time in businessNone
Funding speed24 to 48 hours after setup
altLINE is a bank-owned factoring company, which matters: it funds from its own balance sheet rather than reselling your receivables. Factoring turns slow-paying B2B invoices into cash within days, and because the decision rests on your customers' credit, your own score barely matters.
Pros
- Your customers' credit matters more than yours
- No minimum time in business
- Bank-owned, so pricing is competitive for factoring
- Scales with your sales
Cons
- Only works for B2B or B2G businesses that invoice
- Your customers will know you factor
- Fees compound the longer an invoice is outstanding
- Volume minimums apply
HcBest for small, steady businesses
Headway Capital · Business line of credit
4.4/540% to 80% APR
Max amount$100K
Min credit625
Time in business12 mo
Funding speedNext business day
Headway Capital is a straightforward revolving line for small, established businesses that do not clear the revenue bars at Bluevine or OnDeck. It is transparent about its structure and offers monthly payments, which many online lines do not. It is not cheap.
Pros
- $50,000 annual revenue is enough
- Monthly payment option
- True revolving line with no reapplication
- Clear fee structure
Cons
- 2% draw fee on every draw
- High effective APR
- Maximum of $100,000
- 12 months in business required
CrBest for credit under 550
Credibly · Working capital loan
4.1/51.11 to 1.45 factor
Max amount$600K
Min credit500
Time in business6 mo
Funding speedSame day to 48 hours
Credibly sits at the accessible end of the market: a 500 credit score and six months of history can be enough. It is priced like the merchant cash advances it competes with, so treat it as emergency capital with a defined exit, not a growth loan.
Pros
- Among the lowest credit requirements available
- Fast funding
- Several products including an MCA and a line of credit
- Clear total repayment amount upfront
Cons
- Expensive factor-rate pricing
- Origination fee
- Daily or weekly debits
- High revenue requirement for the credit profile
How we chose
Every lender on this page is scored on the same rubric: total cost of capital (APR or annualized factor rate, plus fees), funding speed, minimum requirements, repayment flexibility, transparency of pricing before you apply, and borrower protections such as prepayment treatment. Partner relationships do not affect placement. Lenders that do not publish minimum requirements or that rely on daily debits with no monthly option are marked down.
Market note, November 2026. Lending conditions in late 2026 favor borrowers with 12 or more months of history and consistent deposits. Bank appetite remains cautious, which keeps SBA programs busy, while online lenders are competing on speed and have loosened time-in-business floors slightly. Expect factor-rate products to stay expensive; if you can wait even two weeks, a CDFI or SBA Express lender will usually beat them.
How to get one
- Step 1
Decide what the money is for and how long it pays back
Match the term to the use. A two-year loan for a ten-year asset starves cash flow; a ten-year loan for a two-month gap wastes interest.
- Step 2
Check the three numbers lenders check
Personal credit score, months in business, and monthly revenue. Those three filter you into or out of most products before anything else is read.
- Step 3
Get your documents in one folder
Three to six months of bank statements, last year's tax return, a balance sheet and P&L, your EIN and formation documents. Online lenders want the statements; banks and the SBA want all of it.
- Step 4
Compare total cost, not the headline rate
Convert factor rates and weekly fees to APR, add origination fees, and model the payment against your weekly deposits.
- Step 5
Apply to the best fit first
Soft-pull prequalifications are free. Hard pulls are not, so apply in order of fit rather than everywhere at once.
How to compare offers
APR versus factor rate
APR includes interest and fees over a year. A factor rate is a flat multiplier on the amount borrowed; a 1.3 factor over nine months is roughly a 70% APR. Our factor rate calculator converts one to the other.
Repayment frequency
Daily and weekly debits need steady deposits. Monthly payments are gentler on seasonal businesses but usually come from banks, the SBA and CDFIs.
Prepayment terms
Some lenders waive remaining interest if you repay early; others charge the full amount regardless. Ask before signing.
Reporting to business bureaus
Lenders that report build your business credit file, which lowers the cost of the next loan.
Frequently asked questions
What credit score do you need for a small business loan?
Banks and SBA lenders generally want 650 or higher. Online lenders go as low as 600, and a few (Fora Financial, Credibly) accept 500 to 570 if revenue is strong. The lower the score, the higher the cost.
How fast can I get a business loan?
Online lines of credit and term loans can fund within 24 hours of approval. Bank loans take two to six weeks. SBA loans take 30 to 90 days, with SBA Express somewhat faster.
Can I get a business loan with no revenue?
Not a conventional one. Pre-revenue businesses typically use business credit cards, equipment financing with a down payment, microloans, grants or personal credit. Once you have three to six months of deposits, Fundbox and similar lenders open up.
What is the cheapest type of business loan?
SBA 7(a) and 504 loans, followed by conventional bank loans and CDFI loans such as Accion. Online term loans and merchant cash advances are the most expensive.
Do I need collateral?
Online lenders usually take a blanket lien on business assets plus a personal guarantee rather than specific collateral. Banks and the SBA ask for collateral when it is available but do not always require it.