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We reviewed hundreds of lenders to narrow down the best options and to find the best funding/financing type for different kinds of small businesses. Each small business has its own specific needs—not to mention each one has a unique history and factors that can make certain types of funding more accessible than others. So, no matter what type of funding you need, from equipment financing to a line of credit, we’ve got top picks for you.
Learn about our lender methodology selection here.
Starting at 4.9% for 6-month repayment schedule
Up to $250,000
6 or 12 months
Min. credit score
Time to funding
As fast as 24 hours after approval
BlueVine’s line of credit is ideal for startups because the loan amount is high and, once you pay off what you borrowed, the amount returns to its original amount. This means you could have the funds you need to really get your business started. Plus, the requirement is just 6 months in business, making it accessible to more new businesses than some other funding products.
Daily interest rate minimum of 0.0658%
Up to 18 months
Another option you have for a line of credit is Idea Financial. But this financer requires that business owners looking for financing have a minimum of two years in business under their belt and at least $15,000 in revenue each month. They also will not lend to sole-proprietors or non-profits, so those business entities in those categories must look elsewhere for their financing.
12, 18, 24 months
Headway Capital offers a true revolving line of credit. Their monthly payments and ongoing access
to capital make it a great product for those who want to be able to access funds at any time. With
their fast and easy application and funding process you can have funds in your account within one
See the full list of best lines of credit
11.29% to 30.12%
$25,000 to $500,000
6 months to 7 years
As fast as 3 days after approval
For a term loan, consider applying with Funding Circle. The lender offers large loan amounts with good fees for an online lender. But their 660-credit score requirement makes it more difficult to qualify than it might be with some other online lenders.
Origination fee 3.49% to 6.99%, late payment fee 5% of missed payment
5-year loan rates starting at 7.99%
$50,000 to $500,000
1 to 5 years
For a term loan, one contender is Credibility Capital. Offering up to $500,000, this financing can help you with most any business need. They do require a UCC lien on the business and a personal guarantee by each business owner with 25% or more ownership in the business. However, the equal monthly payments over the loan term make it a good option for certain business owners.
Rates starting at 7.99%
Up to 12 years
Approval in as little as 24 hours, funding in as little as 3 days
If you’re looking for a much longer-term loan, Bankers Healthcare Group, also called BHG, can offer businesses loans with up to 12-year terms. Plus, the rates begin at 7.99%, which is pretty good for an online lender. The credit score requirement is just 660, making this an accessible, long-term financing option.
See the full list of best term loans
Current prime rate + lender rate
Up to $5 million
7 to 25 years
5 to 10 days SBA turnaround
As far as SBA loans go, the SBA 7(a) is one of the most flexible. It allows businesses to use the funds in a number of ways and has a great interest rate. Cadence Bank is an SBA lender and can help you get Small Business Administration-backed loans for your business.
Up to $350,000
30 to 60 days SBA turnaround
For an SBA (7)a loan, you’ve got BayFirst as an option for financing. CreditBench, which is part of BayFirst, offers these loans backed by the SBA. While they offer up to $350,000, they can still be a fantastic option for small business owners that meet the SBA requirements.
$10,000 to $5 million
For a large, SBA-backed loan, look to Ready Capital. They offer loans up to the standard $5 million for business owners looking for cash for their business. But they do have some fees to look out for when comparing your options.
See the full list of best SBA lenders
Up to $500,000
4, 36, 48, or 60 months
As soon as same day
Balboa Capital offers customers up to $500,000 in equipment financing, which might not be enough for some business owners, but could be a good fit for others. They do require some form of collateral for all of their financing options, but if you use them for financing equipment of less than $350,000, you’ll need only soft collateral.
Up to $20,000
If you need a new piece of equipment, then equipment financing is a fantastic way to finance that. You can go with a company like ClickLease to help you buy the item you need and pay it back over time. ClickLease has flexible terms and rates for a variety of business owners.
See the full list of best equipment financing companies
Up to $750,000
Up to 16 months
As soon as 24 hours
A business cash advance can be good in a pinch. You can get an advance and pay it back using the future credit card sales you make. But this can cut into your bottom line and end up creating a vicious circle if you aren’t careful. Fora Financial can be a great option to get a business cash advance.
Monthly maintenance fee of $20
As low as 35%
$5,000 to $250,000
6 to 36 months
As little as 24 hours, once approved
If you’re looking for a cash advance or a line of credit to help cover costs for your business for a short amount of time, OnDeck’s product might be right for you. They can offer fast funding with no prepayment fees, but beware that missing any repayments can hurt your credit score.
Starting at 29.90%
$6,000 to $100,000
12-month repayment term, resets after each withdrawal
As fast as same day after approval
If you’re looking for a line of credit to help cover costs for your business for a short amount of time OnDeck’s product might be right for you. They can offer fast funding with no prepayment fees but beware that missing any repayments can hurt your credit score.
See the full list of best cash advance
0.7 to 1.5%
$40,000 to $50 million
As little as one day
For businesses looking to pass their unpaid invoices off to another company to collect on, Raistone Capital could be the solution. This allows your working relationship with your customers to stay the same, while essentially getting paid earlier through Raistone, at a discounted rate.
Factor rate as low as 1.09 ( They calculate factor rate = purchased amount ÷ advanced amount
$50,000 to $10 million
None, based on your accounts receivable
Gillman-Baguley offers invoice factoring, meaning you could sell them your unpaid invoices and they would pay a percentage of what those are worth. In this scenario, collection is then out of your hands, and Gallman-Baguley goes on to handle the collection of those invoices. Your customers know another company was working to get your invoices paid. Result: you accelerate your cash flow and spend less time and resources tracking down clients for payment.
As low as 1%
No term, they take on your invoices
None, based on invoices
As little as 48 hours after approval
Invoice factoring allows you to sell your outstanding invoices to a company for a lump sum of cash. They, of course, take a percent of those invoices, but then they handle the collection. Eagle Business Funding can do exactly that for your business if you decide to pass your invoices along to a third party.
See the full list of best invoice factoring companies
Wondering how we chose the best? We used the following criteria to evaluate the lenders in our network.
*The information contained in this page is Lendio’s opinion based on Lendio’s research, methodology, evaluation, and other factors. The information provided is accurate at the time of the initial publishing of the page. While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.
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California loans made pursuant to the California Financing Law, Division 9 (commencing with Section 22000) of the Finance Code. All such loans made through Lendio Partners, LLC, a wholly-owned subsidiary of Lendio, Inc. and a licensed finance lender/broker, California Financing Law License No. 60DBO-44694.