The Best Business Line of Credit for Any Small Businesses in 2022

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Best Business Lines of Credit

Lendio carefully selects the lenders it works with in its marketplace. Then works with you to find the best line of credit for your unique situation. Read on for stats on each lender and what each lender is best at.

Learn about our methodology for lender selection here.

Lender/Funder*Best Loan/Financing TypeLoan/FInancing AmountMin. Time in BusinessLoan/Financing TermMin. Credit ScoreTime to Funds
(After Approval)
BlueVineLine of Credit$250,0006 months6 or 12 months600Same day
Idea FinancialLine of Credit$10k-$250k2 years9-18 Months650+Same day
Headway CapitalLine of Credit$5k-$100k1 years12, 18, 24 months
FundboxLine of Credit
OnDeckLine of Credit

The Best Business Line of Credit Options – All In One Marketplace

Continue reading for detailed information about the lenders listed above.
Ready to apply for a loan? Lendio works with 75+ lenders to find the right option for your business. Click “Apply Now” to fill out our simple application.

Best for Line of Credit

BlueVine – Line of Credit

APR range

Starting at 4.9% for 6 month repayment schedule

Funding amount

Up to $250,000

Term

6 or 12 months

Min. credit score

625

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 it’s original amount. Meaning 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.

 

Pros:
  • Best Line of Credit for speed to decision
  • Accessible to newer businesses
  • Fast funding
  • Option for monthly or weekly payments
Cons: 
  • Not available to businesses in Nevada, North Dakota, and South Dakota
  • Fees for drawing on your line of credit
  • Personal guarantee for the funding required
  • Bank wire option for funding has a $15 fee
  • 1.7% per week or 7% per month for line of credit draws

 

 

BlueVine – Line of Credit

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APR range

Starting at 4.9% for 6 month repayment schedule

Funding amount

Up to $250,000

Term

6 or 12 months

Min. credit score

625

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 it’s original amount. Meaning 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.

 

Pros:
  • Best Line of Credit for speed to decision
  • Accessible to newer businesses
  • Fast funding
  • Option for monthly or weekly payments
Cons: 
  • Not available to businesses in Nevada, North Dakota, and South Dakota
  • Fees for drawing on your line of credit
  • Personal guarantee for the funding required

  • Bank wire option for funding has a $15 fee
  • 1.7% per week or 7% per month for line of credit draws

 

 

Idea Financial – Line of Credit

APR range

Funding amount

$10,000-$250,000

Term

9-18 months

Min. credit score

650

Time to funding

Same day

Idea Financial is home to fast, flexible financing solutions that empower small business
owners to transform their ideas into reality. We offer same-day approval on business
loans and lines of credit of up to $250,000 with up to 36-month repayment terms, so
qualified applicants can improve their cash flow, mitigate business risk, and invest with a
low cost of capital. We back these products up with financing expertise, cutting-edge
technology, and commitment to superior customer service.

 

Pros:
  • Best Line of Credit for length of term offered
  • Accessible to newer businesses
  • Fast funding
  • Option for monthly or weekly payments
Cons: 
  • Not available to businesses in Nevada, North Dakota, and South Dakota
  • Fees for drawing on your line of credit
  • Personal guarantee for the funding required
  • Bank wire option for funding has a $15 fee
  • 1.7% per week or 7% per month for line of credit draws

 

 

Idea Financial Logo

Idea Financial – Line of Credit

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APR range

Funding amount

$10,000-$250,000

Term

9-18 months

Min. credit score

650

Time to funding

Same day

Idea Financial is home to fast, flexible financing solutions that empower small business
owners to transform their ideas into reality. We offer same-day approval on business
loans and lines of credit of up to $250,000 with up to 36-month repayment terms, so
qualified applicants can improve their cash flow, mitigate business risk, and invest with a
low cost of capital. We back these products up with financing expertise, cutting-edge
technology, and commitment to superior customer service.

 

Pros:
  • Best Line of Credit for length of term offered
  • Accessible to newer businesses
  • Fast funding
  • Option for monthly or weekly payments
Cons: 
  • Not available to businesses in Nevada, North Dakota, and South Dakota
  • Fees for drawing on your line of credit
  • Personal guarantee for the funding required

  • Bank wire option for funding has a $15 fee
  • 1.7% per week or 7% per month for line of credit draws

 

 

Headway Capital – Line of Credit

APR range

Funding amount

$5,000-$100,000

Term

12, 18, 24 months

Min. credit score

Time to funding

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
business day.

 

Pros:
  • Best Line of credit for less qualified buyers
  • Accessible to newer businesses
  • Fast funding
  • Option for monthly or weekly payments
Cons: 
  • Not available to businesses in Nevada, North Dakota, and South Dakota
  • Fees for drawing on your line of credit
  • Personal guarantee for the funding required
  • Bank wire option for funding has a $15 fee
  • 1.7% per week or 7% per month for line of credit draws

 

 

Headway Capital Logo

Headway Capital – Line of Credit

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APR range

Funding amount

$5,000-$100,000

Term

12, 18, 24 months

Min. credit score

Time to funding

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
business day.

 

Pros:
  • Best Line of credit for less qualified buyers
  • Accessible to newer businesses
  • Fast funding
  • Option for monthly or weekly payments
Cons: 
  • Not available to businesses in Nevada, North Dakota, and South Dakota
  • Fees for drawing on your line of credit
  • Personal guarantee for the funding required

  • Bank wire option for funding has a $15 fee
  • 1.7% per week or 7% per month for line of credit draws

 

 

Best for Term Loan

Funding Circle – Term Loan

APR range

11.29% to 30.12%

Funding amount

$25,000 to $500,000

Term

6 months to 5 years

Min. credit score

660

Time to funding

As fast as 3 days after approval

For a term loan go to Funding Circle. The lender offers large loan amounts with good fees for an online lender. But their requirement of a 660 credit score makes it more difficult to qualify than some other online lenders might be.

Pros:
  • Best alternative option to SBA
  • Fixed monthly payments
  • Save on interest by repaying early with no early repayment fees
  • Large loan amounts available
Cons: 
  • Not available to businesses in Nevada 
  • Some loans require collateral
  • Can take longer to receive funds than other lenders might take

Origination fee 3.49% to 6.99%, late payment fee 5% of missed payment

Funding Circle – Term Loan

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APR range

11.29% to 30.12%

Funding amount

$25,000 to $500,000

Term

6 months to 5 years

Min. credit score

660

Time to funding

As fast as 3 days after approval

For a term loan go to Funding Circle. The lender offers large loan amounts with good fees for an online lender. But their requirement of a 660 credit score makes it more difficult to qualify than some other online lenders might be.

Pros:
  • Best alternative option to SBA
  • Fixed monthly payments
  • Save on interest by repaying early with no early repayment fees
  • Large loan amounts available
Cons: 
  • Not available to businesses in Nevada 
  • Some loans require collateral
  • Can take longer to receive funds than other lenders might take

Origination fee 3.49% to 6.99%, late payment fee 5% of missed payment

Credibility Captial – Term Loan

APR range

Funding amount

$50,000 to $500,000

Term

1-5 years

Min. credit score

720

Time to funding

As fast as 3 days after approval

Credibility Capital provides low-cost financing solutions to successful small businesses, without
the collateral requirements or hassle and endless paperwork of SBA and conventional bank loans.
We deliver a fast, seamless, fully digital experience. We will provide an immediate indication of
eligibility, conduct final underwriting, and fund your loan in as little as 3 days from application. Credibility Capital is the trustworthy source for small business credit. Our Trustpilot rating of
customer satisfaction is 4.9 on a 5.0 scale, and we have an A+ rating from the Better Business
Bureau.

Pros:
  • Best Term Loan/Line of Credit hybrid
  • Fixed monthly payments
  • Save on interest by repaying early with no early repayment fees
  • Large loan amounts available
Cons: 
  • Not available to businesses in Nevada 
  • Some loans require collateral
  • Can take longer to receive funds than other lenders might take

Origination fee 3.49% to 6.99%, late payment fee 5% of missed payment

Credibility Capital logo

Credibility Captial – Term Loan

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APR range

Funding amount

$50,000 to $500,000

Term

1-5 years

Min. credit score

720

Time to funding

As fast as 3 days after approval

Credibility Capital provides low-cost financing solutions to successful small businesses, without
the collateral requirements or hassle and endless paperwork of SBA and conventional bank loans.
We deliver a fast, seamless, fully digital experience. We will provide an immediate indication of
eligibility, conduct final underwriting, and fund your loan in as little as 3 days from application. Credibility Capital is the trustworthy source for small business credit. Our Trustpilot rating of
customer satisfaction is 4.9 on a 5.0 scale, and we have an A+ rating from the Better Business
Bureau.

Pros:
  • Best Term Loan/Line of Credit hybrid
  • Fixed monthly payments
  • Save on interest by repaying early with no early repayment fees
  • Large loan amounts available
Cons: 
  • Not available to businesses in Nevada 
  • Some loans require collateral
  • Can take longer to receive funds than other lenders might take

Origination fee 3.49% to 6.99%, late payment fee 5% of missed payment

Bankers Healthcare Group (BHG) – Term Loan

APR range

Funding amount

$500,000

Term

12 years

Min. credit score

660

Time to funding

Pros:
  • Best term loan for healthcare industries
  • Fixed monthly payments
  • Save on interest by repaying early with no early repayment fees
  • Large loan amounts available
Cons: 
  • Not available to businesses in Nevada 
  • Some loans require collateral
  • Can take longer to receive funds than other lenders might take

Origination fee 3.49% to 6.99%, late payment fee 5% of missed payment

Bankers Healthcare Group (BHG) – Term Loan

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APR range

Funding amount

$500,000

Term

12 years

Min. credit score

660

Time to funding

Pros:
  • Best term loan for healthcare industries
  • Fixed monthly payments
  • Save on interest by repaying early with no early repayment fees
  • Large loan amounts available
Cons: 
  • Not available to businesses in Nevada 
  • Some loans require collateral
  • Can take longer to receive funds than other lenders might take

Origination fee 3.49% to 6.99%, late payment fee 5% of missed payment

Best for SBA 7(a)

Cadence Bank – SBA 7(a)

APR range

Current prime rate + lender rate

Funding amount

Up to $5 million

Term

7 to 25 years

Min. credit score

650

Time to funding

30 to 60 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 the Small Business Administration backed loans for your business.

Pros:
  • Best for customer care
  • Tend to have lower rates 
  • All SBA 7(a) loans max out at $5 million, a high amount
  • Backed by the Small Business Administration
Cons: 
  • More strict qualification requirements
  • Has a longer time to funds than online lenders 
  • Must be owner operated and fit size requirements of the SBA
  • 4% referral and packaging fee
  • Approximately $450 in bank closing costs
  • Loans from $30k to $150k require a 1.7% guarantee fee
  • Loans above $150k require a 2.25% SBA guarantee fee

Cadence Bank – SBA 7(a)

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APR range

Current prime rate + lender rate

Funding amount

Up to $5 million

Term

7 to 25 years

Min. credit score

650

Time to funding

30 to 60 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 the Small Business Administration backed loans for your business.

Pros:
  • Best for customer care
  • Tend to have lower rates 
  • All SBA 7(a) loans max out at $5 million, a high amount
  • Backed by the Small Business Administration
Cons: 
  • More strict qualification requirements
  • Has a longer time to funds than online lenders 
  • Must be owner operated and fit size requirements of the SBA

  • 4% referral and packaging fee
  • Approximately $450 in bank closing costs
  • Loans from $30k to $150k require a 1.7% guarantee fee
  • Loans above $150k require a 2.25% SBA guarantee fee

BayFirst – SBA 7(a)

APR range

Current prime rate + lender rate

Funding amount

Up to $5 million

Term

7 to 25 years

Min. credit score

650

Time to funding

30 to 60 days SBA turnaround

BayFirst Financial is one of the most premier financial institutions in the Tampa Bay area.
The Bank offers a full range of products, including checking and savings accounts,
personal loans, and investment services. It also provides nationwide residential
mortgages and business banking services that include Small Business Administration
(SBA) loans originated through its SBA lending division, CreditBench, which is
consistently one of the top producing SBA lenders in the country.

Pros:
  • Best publicly held SBA option
  • Tend to have lower rates 
  • All SBA 7(a) loans max out at $5 million, a high amount
  • Backed by the Small Business Administration
Cons: 
  • More strict qualification requirements
  • Has a longer time to funds than online lenders 
  • Must be owner operated and fit size requirements of the SBA
  • 4% referral and packaging fee
  • Approximately $450 in bank closing costs
  • Loans from $30k to $150k require a 1.7% guarantee fee
  • Loans above $150k require a 2.25% SBA guarantee fee
BayFirst

BayFirst – SBA 7(a)

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APR range

Current prime rate + lender rate

Funding amount

Up to $5 million

Term

7 to 25 years

Min. credit score

650

Time to funding

30 to 60 days SBA turnaround

BayFirst Financial is one of the most premier financial institutions in the Tampa Bay area.
The Bank offers a full range of products, including checking and savings accounts,
personal loans, and investment services. It also provides nationwide residential
mortgages and business banking services that include Small Business Administration
(SBA) loans originated through its SBA lending division, CreditBench, which is
consistently one of the top producing SBA lenders in the country.

Pros:
  • Best publicly held SBA option
  • Tend to have lower rates 
  • All SBA 7(a) loans max out at $5 million, a high amount
  • Backed by the Small Business Administration
Cons: 
  • More strict qualification requirements
  • Has a longer time to funds than online lenders 
  • Must be owner operated and fit size requirements of the SBA

  • 4% referral and packaging fee
  • Approximately $450 in bank closing costs
  • Loans from $30k to $150k require a 1.7% guarantee fee
  • Loans above $150k require a 2.25% SBA guarantee fee

Ready Capital – SBA 7(a)

APR range

Current prime rate + lender rate

Funding amount

Up to $5 million

Term

7 – 25 years

Min. credit score

650

Time to funding

30 to 60 days SBA turnaround

Pros:
  • Best SBA for Microloans and startups.
  • Tend to have lower rates 
  • All SBA 7(a) loans max out at $5 million, a high amount
  • Backed by the Small Business Administration
Cons: 
  • More strict qualification requirements
  • Has a longer time to funds than online lenders 
  • Must be owner operated and fit size requirements of the SBA
  • 4% referral and packaging fee
  • Approximately $450 in bank closing costs
  • Loans from $30k to $150k require a 1.7% guarantee fee
  • Loans above $150k require a 2.25% SBA guarantee fee

Ready Capital – SBA 7(a)

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APR range

Current prime rate + lender rate

Funding amount

Up to $5 million

Term

7 – 25 years

Min. credit score

650

Time to funding

30 to 60 days SBA turnaround

Pros:
  • Best SBA for Microloans and startups.
  • Tend to have lower rates 
  • All SBA 7(a) loans max out at $5 million, a high amount
  • Backed by the Small Business Administration
Cons: 
  • More strict qualification requirements
  • Has a longer time to funds than online lenders 
  • Must be owner operated and fit size requirements of the SBA

  • 4% referral and packaging fee
  • Approximately $450 in bank closing costs
  • Loans from $30k to $150k require a 1.7% guarantee fee
  • Loans above $150k require a 2.25% SBA guarantee fee

Best for Equipment Financing

Balboa – Equipment financing

APR range

4.99% simple interest

Funding amount

Up to $2 million

Term

7 years

Min. credit score

640

Time to funding

As fast as 24 hours after approval

Balboa Capital, a division of Ameris Bank, is a technology-driven financing company that
provides business owners and vendors with fast, hassle-free small business funding options to
fuel their growth and success. The company specializes in small business loans, SBA loans,
equipment financing, commercial financing, equipment vendor financing, and franchise
financing. Balboa Capital developed an intuitive online platform that simplifies the entire
financing process. Calculators provide instant estimates, applications can be completed and
submitted in a matter of minutes, and sophisticated credit scoring technology provides instant
decisions.

 

Pros:
  • Best for heavy machinery financing
  • Option to fund new or pre-owned equipment
  • No down payment required
  • Discount for early repayment
Cons: 
  • Requires equipment quote from vendor
  • Not upfront about their interest fees, could be potentially costly
  • Repayment schedule of weekly payments could be a challenge for some
balboa capital logo

Balboa – Equipment financing

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APR range

4.99% simple interest

Funding amount

Up to $2 million

Term

7 years

Min. credit score

640

Time to funding

As fast as 24 hours after approval

Balboa Capital, a division of Ameris Bank, is a technology-driven financing company that
provides business owners and vendors with fast, hassle-free small business funding options to
fuel their growth and success. The company specializes in small business loans, SBA loans,
equipment financing, commercial financing, equipment vendor financing, and franchise
financing. Balboa Capital developed an intuitive online platform that simplifies the entire
financing process. Calculators provide instant estimates, applications can be completed and
submitted in a matter of minutes, and sophisticated credit scoring technology provides instant
decisions.

 

Pros:
  • Best for heavy machinery financing
  • Option to fund new or pre-owned equipment
  • No down payment required
  • Discount for early repayment
Cons: 
  • Requires equipment quote from vendor
  • Not upfront about their interest fees, could be potentially costly
  • Repayment schedule of weekly payments could be a challenge for some

ClickLease – Equipment financing

APR range

Funding amount

$15,000

Term

60 months

Min. credit score

520

Time to funding

As fast as 24 hours after approval

Clicklease offers affordable payment plans to help you get the equipment your
business needs to grow. Clicklease provides instant approvals from $500 to $25,000.
Applications use a soft credit pull and have zero impact on your personal credit. Our
amazingly fast process can be completed in less than ten minutes.

 

Pros:
  • Best option for loan requests under $25k
  • Option to fund new or pre-owned equipment
  • No down payment required
  • Discount for early repayment
Cons: 
  • Requires equipment quote from vendor
  • Not upfront about their interest fees, could be potentially costly
  • Repayment schedule of weekly payments could be a challenge for some
Clicklease Logo

ClickLease – Equipment financing

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APR range

Funding amount

$15,000

Term

60 months

Min. credit score

520

Time to funding

As fast as 24 hours after approval

Clicklease offers affordable payment plans to help you get the equipment your
business needs to grow. Clicklease provides instant approvals from $500 to $25,000.
Applications use a soft credit pull and have zero impact on your personal credit. Our
amazingly fast process can be completed in less than ten minutes.

 

Pros:
  • Best option for loan requests under $25k
  • Option to fund new or pre-owned equipment
  • No down payment required
  • Discount for early repayment
Cons: 
  • Requires equipment quote from vendor
  • Not upfront about their interest fees, could be potentially costly
  • Repayment schedule of weekly payments could be a challenge for some

Best for Business Cash Advance

Fora – Business Cash Advance

APR range

Funding amount

Up to $750,000

Term

Up to 16 months

Min. credit score

500

Time to funding

1-2 Business Days

Fora Financial is a leading business financing lender that has provided over $2 billion to more than
25,000 business owners nationwide. Fora Financial makes the process of securing $5k to $750k in
working capital fast and easy, with approval in as little as 24 hours. Securing funding to use for
payroll, equipment, inventory, marketing expenses, or anything else your business requires, is a
simple application process. Upon approval, funds can be deposited into your business bank
account in as little as 72 hours. Fora Financial, here when you need Working Capital.

Pros:
  • Best for customer communication
  • Fast funding
  • Can help boost your credit because they report to the major credit bureaus 
  • No prepayment fees
Cons: 
  • Can harm your credit if you can’t make your repayments
  • Potentially high interest rates
  • Weekly payments

Monthly maintenance fee of $20

Fora Logo

Fora – Business Cash Advance

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APR range

Funding amount

Up to $750,000

Term

Up to 16 months

Min. credit score

500

Time to funding

1-2 Business Days

Fora Financial is a leading business financing lender that has provided over $2 billion to more than
25,000 business owners nationwide. Fora Financial makes the process of securing $5k to $750k in
working capital fast and easy, with approval in as little as 24 hours. Securing funding to use for
payroll, equipment, inventory, marketing expenses, or anything else your business requires, is a
simple application process. Upon approval, funds can be deposited into your business bank
account in as little as 72 hours. Fora Financial, here when you need Working Capital.

Pros:
  • Best for customer communication
  • Fast funding
  • Can help boost your credit because they report to the major credit bureaus 
  • No prepayment fees
Cons: 
  • Can harm your credit if you can’t make your repayments
  • Potentially high interest rates
  • Weekly payments

Monthly maintenance fee of $20

Kapitus – Business Cash Advance

APR range

Funding amount

$6,000 to $750,000

Term

6 – 36 months

Min. credit score

575

Time to funding

1 Business Day

Pros:
  • Best renewal experience
  • Fast funding
  • Can help boost your credit because they report to the major credit bureaus 
  • No prepayment fees
Cons: 
  • Can harm your credit if you can’t make your repayments
  • Potentially high interest rates
  • Weekly payments

Monthly maintenance fee of $20

Kapitus Logo

Kapitus – Business Cash Advance

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APR range

Funding amount

$6,000 to $750,000

Term

6 – 36 months

Min. credit score

575

Time to funding

1 Business Day

Pros:
  • Best renewal experience
  • Fast funding
  • Can help boost your credit because they report to the major credit bureaus 
  • No prepayment fees
Cons: 
  • Can harm your credit if you can’t make your repayments
  • Potentially high interest rates
  • Weekly payments

Monthly maintenance fee of $20

OnDeck – Business Cash Advance

APR range

Starting at 29.90%

Funding amount

$6,000 to $100,000

Term

12-month repayment term, resets after each withdrawal

Min. credit score

600

Time to funding

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.

Pros:
  • Best online closing experience
  • Fast funding
  • Can help boost your credit because they report to the major credit bureaus 
  • No prepayment fees
Cons: 
  • Can harm your credit if you can’t make your repayments
  • Potentially high interest rates
  • Weekly payments

Monthly maintenance fee of $20

OnDeck – Business Cash Advance

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APR range

Starting at 29.90%

Funding amount

$6,000 to $100,000

Term

12-month repayment term, resets after each withdrawal

Min. credit score

600

Time to funding

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.

Pros:
  • Best online closing experience
  • Fast funding
  • Can help boost your credit because they report to the major credit bureaus 
  • No prepayment fees
Cons: 
  • Can harm your credit if you can’t make your repayments
  • Potentially high interest rates
  • Weekly payments

Monthly maintenance fee of $20

Best for Invoice Factoring

Raistone Capital – Invoice Factoring

APR range

Funding amount

Term

Unknown

Min. credit score

None, based on your accounts receivable

Time to funding

A world leading fintech backed by equity investments from a $30-billion-plus family
office, a $900 billion wealth manager, an international bank, and a FINRA-registered
broker-dealer, Raistone enables the financing of billions of dollars in transactions every
year.

Our best-in-class technology coupled with unparalleled access to institutional capital
allows us to extend financing to companies of all sizes. With Raistone, financing is fully
integrated with the same software platforms buyers and suppliers already use today. We
provide facilities from $50,000 to $500 million+.

Pros:
  • Best for large facility needs
  • Fast funding
  • Low time in business requirements
  • Large funding amounts available
Cons: 
  • Website is out of date and it’s hard to find information
  • Short term funding can be difficult to repay
  • Not available in certain states
Raistone Logo

Raistone Capital – Invoice Factoring

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APR range

Funding amount

Term

Unknown

Min. credit score

None, based on your accounts receivable

Time to funding

A world leading fintech backed by equity investments from a $30-billion-plus family
office, a $900 billion wealth manager, an international bank, and a FINRA-registered
broker-dealer, Raistone enables the financing of billions of dollars in transactions every
year.

Our best-in-class technology coupled with unparalleled access to institutional capital
allows us to extend financing to companies of all sizes. With Raistone, financing is fully
integrated with the same software platforms buyers and suppliers already use today. We
provide facilities from $50,000 to $500 million+.

Pros:
  • Best for large facility needs
  • Fast funding
  • Low time in business requirements
  • Large funding amounts available
Cons: 
  • Website is out of date and it’s hard to find information
  • Short term funding can be difficult to repay
  • Not available in certain states

Gillman-Baguley – Invoice Factoring

APR range

Factor rate as low as 1.09 ( They calculate factor rate = purchased amount ÷ advanced amount

Funding amount

Up to $10 million

Term

30 days

Min. credit score

None, based on your accounts receivable

Time to funding

GillmanBagley is a pacesetting provider of invoice financing and lines of credit to the
small business community. The financing solutions offered by GillmanBagley leverage
accounts receivable to provide liquidity up to $5,000,000 for B2B companies and
government contractors looking to improve working capital. Their customer first
approach and creative programs make them a top rated small business lender in the
Lendio network.

Pros:
  • Best for customer experience
  • More accessible to some businesses due to low credit score requirement
  • No personal collateral required 
  • Flexibility on funds use
Cons: 
  • Late payments will hurt your credit
  • Short terms that can be difficult for some businesses
  • Daily automatic payments to cover the repayment of the advance
  • Underwriting fee: A one-time 2.5% of the total advance amount set up fee is added to your balance at funding
  • Admin fee: $50 monthly payment
Gillman Bagley

Gillman-Baguley – Invoice Factoring

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APR range

Factor rate as low as 1.09 ( They calculate factor rate = purchased amount ÷ advanced amount

Funding amount

Up to $10 million

Term

30 days

Min. credit score

None, based on your accounts receivable

Time to funding

GillmanBagley is a pacesetting provider of invoice financing and lines of credit to the
small business community. The financing solutions offered by GillmanBagley leverage
accounts receivable to provide liquidity up to $5,000,000 for B2B companies and
government contractors looking to improve working capital. Their customer first
approach and creative programs make them a top rated small business lender in the
Lendio network.

Pros:
  • Best for customer experience
  • More accessible to some businesses due to low credit score requirement
  • No personal collateral required 
  • Flexibility on funds use
Cons: 
  • Late payments will hurt your credit
  • Short terms that can be difficult for some businesses
  • Daily automatic payments to cover the repayment of the advance

  • Underwriting fee: A one-time 2.5% of the total advance amount set up fee is added to your balance at funding
  • Admin fee: $50 monthly payment

Eagle Business Funding – Invoice factoring

APR range

A low as 1%

Funding amount

Up to $5 million

Term

No term, they take on your invoices

Min. credit score

None, based on invoices

Time to funding

As fast 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.

Pros:
  • Best for transportation and trucking
  • No waiting around for your customers to pay
  • Quick cash for you
  • Few business requirements, easy to qualify for
Cons: 
  • Your customers know someone else has taken over invoice payment
  • Lose a percent of your outstanding invoices
  • Unknown fees

Eagle Business Funding – Invoice factoring

Read Our Review Apply Now

APR range

A low as 1%

Funding amount

Up to $5 million

Term

No term, they take on your invoices

Min. credit score

None, based on invoices

Time to funding

As fast 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.

Pros:
  • Best for transportation and trucking
  • No waiting around for your customers to pay
  • Quick cash for you
  • Few business requirements, easy to qualify for
Cons: 
  • Your customers know someone else has taken over invoice payment
  • Lose a percent of your outstanding invoices
  • Unknown fees

Our methodology

Wondering how we chose the best? Here’s how we went about evaluating the lenders in our network.

  • Lenders with fast funding time are those non-SBA loans that fund in under 1 week and SBA funding that funds in 2 to 3 weeks
  • Lenders with a maximum loan amount of $2 Million or less
  • Lenders with a minimum loan amount of $5,000
  • When it comes to fees, we looked at lenders with fees comparable to other similar lenders. Online lenders that have similar fees and traditional lenders with similar fees.
  • Requirements:
    • More flexible lenders:
      • Credit Score: 600
      • Time in Business: 6 months
      • $8,000 to $10,000 gross monthly revenue
    • Average lender:
      • Credit Score: 700
      • Time in Business: 1 to 2 years
      • $20,000 to $50,000 gross monthly revenue
  • Flexible repayment options
    • Early repayment options with daily, weekly, and monthly payment options
  • Reviews on external websites: We look for an average of 4.5 or higher on TrustPilot

*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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