Compare $10,000 business loans

Getting a $10,000 business loan can be easier than larger amounts, since you pose less of a risk to the lender. But you might want to steer clear of big banks and look to less-conventional lenders for funding of this size.

Where can I get a $10,000 business loan?

You can get a $10,000 business loan with most types of lenders. However, big banks might not be the best option — these typically fund larger amounts and might not even offer loans of this size. Even some online lenders have funding minimums above $10,000.

Online lenders, microlenders and community development financial institutions (CDFIs) are likely a better bet. Borrowing online might be a particularly good choice if you don’t have a lot of time or resources to spend on your business loan application.

Compare $10,000 business loans

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Name	Product	Filter Values	Loan amount	APR	Requirements
First Down Funding business loans			$4,000 – $300,000	5.49% to 22.79%	At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 300	Alternative financing up to $300K with highly competitive rates.	Check eligibility More Info		loading Fetching your data...
Lendio business loan marketplace			$500 – $5,000,000	Starting at 6%	Operate business in US or Canada, have a business bank account, 560+ personal credit score	Submit one simple application to potentially get offers from a network of over 75 legit business lenders.	Check eligibility More Info		loading Fetching your data...
Fundera			$2,500 – $5,000,000	7% to 30%	$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years	Get connected with short-term funding, SBA loans, lines of credit and more.	Check eligibility More Info		loading Fetching your data...
Kickpay e-commerce loans			$20,000 – $1,000,000	Not applicable	At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.	Get a loan for your e-commerce business based on your sales history.	Check eligibility More Info		loading Fetching your data...
Credibly Business Loans			$5,000 – $250,000		6+ months in business, $180K annual business revenue, 500+ credit $15K+ in monthly deposits	Funding to cover business expenses with daily or weekly repayments.	Check eligibility More Info		loading Fetching your data...
SmartBiz			$30,000 – $5,000,000	4.75% to 7.00%	650+ personal credit score, US citizen or permanent resident, 2+ years in business, $50,000+ annual revenue, no outstanding tax liens, no bankruptcies or foreclosures in past 3 years	Get funding for your small business with a government-backed loan and extended repayment terms.	Check eligibility More Info		loading Fetching your data...
LendingClub small business loans			$5,000 – $500,000	9.77% to 35.98%	12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better	With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.	Check eligibility More Info		loading Fetching your data...
Monevo Business Loans			$500 – $100,000	3.99% to 35.99%	Credit score of 500+, legal US resident and ages 18+.	Use this connection service to get paired with a loan you can use for business.	Check eligibility More Info		loading Fetching your data...

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How can I qualify for a $10,000 business loan?

While eligibility requirements vary by lender, you generally need to meet the following criteria:

• In business at least six months
• Minimum personal credit score of 600
• At least $100,000 annual revenue

How much will a $10,000 business loan cost?

How much your $10,000 business loan costs depends on a few factors: the loan term, interest rate and fees.

Typically, $10,000 business loans come with APRs on the lower end since they’re less of a risk to the lender. However, the specific rate you receive will depend on your business’s finances and your personal credit score. You can expect to qualify for loan terms on the shorter end — typically from six months to several years.

5 types of $10,000 business loans

From traditional term loans to lines of credit and merchant cash advances, here are five types of financing available in amounts as low as $10,000.

1. Business term loan

This straight-forward business loan is made to cover one-time expenses. It works by giving your business a lump sum to spend on any legitimate expense, which you repay in installments over a period of time. For $10,000, you can expect the term to be on the shorter side — around six months to two years.

2. Business line of credit

A line of credit gives your business access to cash as it needs it — up to a credit limit. It’s made to help with ongoing projects like renovations, which can have unpredictable costs.

Depending on the lender, you might pay it off with a minimum monthly repayment, like a credit card. Or you might pay off each draw in installments, like a term loan.

3. SBA microloan

The Small Business Administration (SBA) works with independent lenders to offer government-backed financing for small businesses. Most SBA programs offer funding well over $100,000 with the exception of the Microloan Program, which has an average term loan of $13,000.

Microloans are less common than other types of SBA loans — you might have better luck looking to CDFIs and community banks. They’re generally less expensive than other options, but can take a long time to process the application.

4. Equipment and vehicle financing

These term loans are backed by the equipment or vehicle you’re using the funds to purchase, giving you lower rates. How much you can borrow depends on the price of the equipment or vehicle — some lenders will fund up to 100% of the cost, though many recommend at least a 20% down payment.

5. Merchant cash advance

A merchant cash advance is an advance on your business’s future credit card sales. How much you can borrow depends on your business’s monthly revenue, and you pay it back with a percentage of your daily or weekly sales. This option is designed for retailers — particularly those that aren’t able to qualify for more traditional business loans. It’s faster than a lot of options, but can be expensive.

Bottom line

When it comes to business loans, $10,000 is on the low end. While it might be easier to qualify for than larger amounts, not all lenders offer financing this low. You might have the best luck with local banks, CDFIs and online lenders.

Read our guide to business loans to learn more about your options.

Frequently asked questions

• Can I get a $10,000 business loan to start a business?

  It’s possible, but most lenders have minimum time-in-business and revenue requirements. You might want to check out our guide to startup loans to learn more about your options.

• Can I get a $10,000 business loan with bad credit?

  You can, though not all options might be available to you. Your best bet might be working with a CDFI, which typically has less stringent credit requirements than other types of lenders. Merchant cash advances are also typically available to business owners of all credit types.

• Can I get an SBA 7(a) loan for $10,000?

  Traditionally, SBA 7(a) loans come in much higher amounts. While it has a 7(a) Small Loans Program capped at $350,000, the SBA Microloan Program is generally better suited for loans as small as $10,000.