Lendio business loans
Finder score
Loan amount | $1,000 – $5,000,000 |
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APR | Starting at 3% |
Min. Credit Score | 500 |
Having a credit score of 740 or higher — or excellent credit — works in your favor if you’re looking for a business loan. But when it comes to business financing, your credit score isn’t as important as it would be with a personal loan. Banks typically weigh cash flow and your time in business over the owner’s credit scores.
We compared the rates, terms and different needs of business owners who are in the market for financing — with particular attention to low rates that excellent credit might help you win. We included a range of types of lenders and a connection service to meet the needs of different types of businesses.
Lendio business loans
Finder score
Loan amount | $1,000 – $5,000,000 |
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APR | Starting at 3% |
Min. Credit Score | 500 |
LendingClub business loans
Finder score
Loan amount | $5,000 – $500,000 |
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APR | 12.15% to 29.97% |
Min. Credit Score | 580 |
SmartBiz business loans
Finder score
Loan amount | $30,000 – $500,000 |
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APR | Prime Rate, plus 2.75% to 3.75% |
Min. Credit Score | 650 |
Rapid Finance small business loans
Finder score
Loan amount | $5,000 – $1,000,000 |
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APR | Not stated |
Min. Credit Score | 600 |
Lake Michigan Credit Union business loans
Finder score
Loan amount | Up to $50,000 |
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APR | 5% to 7% |
Min. Credit Score | 700 |
PNC Bank business loans
Finder score
Loan amount | $20,000 – $100,000 |
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APR | Not stated |
Community banks can be a great option for small business owners that want to develop a strong, long-term relationship with a lender. Community bank loan officers are experts in your area’s business marketplace and can become a partner in growing and developing your business safely.
It might take a few weeks to fund your first loan. But once they get to know your business, your lender should learn to anticipate your business’s financing needs so you never need an emergency loan.
Lender | Minimum credit score | Best for … | Finder Rating | What sets it apart |
---|---|---|---|---|
SmartBiz | 650 | SBA loans | ★★★★★
4.3 / 5.0 | A network of SBA-preferred lenders and packaging services to simplify the application process. |
PNC Bank | Bank loans | ★★★★★
2.53 / 5.0 | Online accessibility with the option for an in-person application. | |
Lake Michigan Credit Union | 700 | Credit union financing | ★★★★★
3.4 / 5.0 | Low rates and a nationwide reach. |
LendingClub | 580 | Businesses in the startup phase | ★★★★★
4.5 / 5.0 | Low time in business and revenue requirements. |
Rapid Finance | 600 | Short-term financing | ★★★★★
3.74 / 5.0 | Rate discounts for good and excellent credit. |
Lendio | 500 | Comparing multiple offers | ★★★★★
4.79 / 5.0 | Over 300 partner providers in its network. |
See what else is out there by selecting ranges for the amount you’d like to borrow, revenue, time and business and the excellent credit score range.
The best lender for your business depends on several factors, such as what type of financing you need, the time you have to spend on the application and what your business can qualify for. Follow these steps
Having excellent credit isn’t the only factor that lenders consider when you apply for a business loan. In fact, your time in business, revenue and cash flow often count more toward your application than your credit score. Get the basics on business financing with our guide to business loans.
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