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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.
Lendio carefully selects the lenders it works with in its marketplace, then works with you to find the best term loan 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.
6 months-7 years
Min. credit score
Time to funding
As fast as 3 days after approval
For a term loan, consider applying with Funding Circle. The lender offers large loan amounts up to $500,000. However, their required 660 minimum credit score makes it more difficult to qualify for than some other online lenders might be.
Rate on 5-year loans
Starting at 9.49%*
As fast as 3 days
For a term loan, one contender is Credibility Capital. Offering up to $500,000, this financing can help you with a host of business needs. 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 can make it easier to keep up with loan payments.
3%–5% one-time closing fee
Start at 8.49%*
Up to $500,000
Up to 12 years
Approval in as fast as 24 hours, funding in as little as 3 days
If you’re looking for a much longer-term loan, Bankers Healthcare Group (BHG) can offer businesses loans with up to 12-year terms at rates that begin at 7.99%. The credit score requirement is just 660, making this an accessible, long-term financing option.
3% origination fee
Starting at 24%*
Approval and funding as fast as 24 hours
Avana Capital is the parent company of Lend Thrive. Since 2002, its goal has been to “enable entrepreneurs to overcome financing challenges in order to achieve growth and success.” Their loans come with, fixed rates and no hidden fees.
4% origination fee
Monthly Interest Rate
As fast as 2 days after approval
Camino Financial was founded in 2014 by two brothers who were on a mission to help underserved businesses. To date, it has provided over $183 million in funding to more than 9,500 small businesses. You can get pre-approved within 48 hours and get matched to the ideal small business financing solution for your unique business. Upon approval, you may receive the funds in a few business days.
6.99% origination fee
As fast as 1 day after approval
Dreamspring is a non-profit organization that offers financing to “help entrepreneurs realize their dreams.” It’s considered to be a microlender and has distributed over 42,000 loans with a minimum 670 credit requirement and fixed rates. Funds from Dreamspring loans can be used for inventory, equipment, working capital, and more.
5%-10% community benefit fee
1-3 business days
Fundation is based in Virginia and offers medium-term loans that can be used for a variety of purposes, like working capital, equipment, and renovations. Since Fundation doesn’t charge prepayment penalties, you can pay off your loan early and save on interest.
1.5% origination fee
Up to $4 million
Up to 3 years
As fast as a few days
Lighter Capital specializes in term-based financing for entrepreneurs and small business owners within SaaS and Technology. You can get approved for up to $4 million, with terms of up to three years. As a Lighter borrower, you’ll also get an invitation to the Lighter CEO Community, access to discount codes, and other perks.
1% origination fee
Up to $4 million
Starts at 16%*
Salaryo is an Isareli FinTech startup with a mission to “help small businesses grow and reach financial stability.” It offers term loans of up to $250,000. You can get funded that same day you’re approved, even if you you’re credit is in the low 600’s.. Just keep in mind that you will be required to connect to your business bank account via a secure platform called Plaid, so the lender can review your finances.
1%-4% origination fee
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 (November 28, 2022). 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.