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Compare $10,000 business loans

Compare 10k business loans from lenders that offer smaller business loans.

Best for small businesses

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  • Required time in business: 6+ months
  • Required monthly revenue: $20k+
  • Min credit score: 550+

For a variety of finance options

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  • Required time in business: 6+ months
  • Required monthly revenue: $10k+
  • Min credit score: No credit needed

Best for business line of credit

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  • Required time in business: 1+ years
  • Required monthly revenue: Average of at least $3,000
  • Min credit score: 660

Getting a $10,000 business loan can be easier than larger amounts, since you pose less 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.

However, if you need $10,000 in startup financing, an online personal loan might be a better choice. Almost all personal loan providers offer loans of that size, and they don’t have minimum revenue or time in business cutoffs. Online lenders like Upstart can get you a loan as soon as the same day you apply. But you’ll need good credit and enough income support repayments to qualify.

Compare $10,000 business loans

Narrow down top business loans by loan amount, rates and requirements to find the best option for your business’s goals. Select Compare for up to four products to weigh their benefits side by side.

Name Product Filter Values Min. Amount Max. Amount APR Requirements
Lendio business loans
Finder Score: 4.8 / 5: ★★★★★
Lendio business loans
$1,000
$5,000,000
Varies by lender
Operate business in US or Canada for 6 months or more, have a business bank account, minimum 500 personal credit score, at least $20,000 in monthly revenue
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Olympus Business Capital
Finder Score: 3.8 / 5: ★★★★★
Olympus Business Capital
$500
$100,000
Not stated
Been in business for 6 months registered with the state, active and open bank account in business name, have $10,000 of revenue each month
No credit needed. Funding up to $100k with a variety of finance options to best fit your business needs.
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American Express® Business Line of Credit
Finder Score: 4.4 / 5: ★★★★★
American Express® Business Line of Credit
$2,000
$250,000
N/A
Minimum FICO score of at least 660 at the time of application, have started your business at least a year ago, and an average monthly revenue of at least $3,000
Access lines of credit for your small business even if you aren't currently an Amex customer.
Fundible
Finder Score: 4.9 / 5: ★★★★★
Fundible
$1,000
$10,000,000
Rates start at 1% per month
500+ FICO score, $200,000 annual revenue, 6 months in business, most recent business bank statements
Same day approval
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Fundera business loans
Finder Score: 4.9 / 5: ★★★★★
Fundera business loans
$2,500
$5,000,000
Varies based on lenders
$60,000+ of annual revenue, 550+ personal credit score, in business for 6+ months
Get connected with short-term funding, SBA loans, lines of credit and more.
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How to get a $10,000 business loan

Although each lender has its own process, these steps should help guide your business toward the right loan option:

  1. Compare lenders. Start by comparing business loan lenders. Research lenders that offer competitive terms for small business loans.
  2. Prepare financial documents. Lenders want to see your business plan and accurate and up-to-date annual revenue projections, bank statements, tax documents and other information that demonstrates your business’s ability to repay a loan.
  3. Apply for preapproval. This lets you see your loan’s potential terms before your personal or business credit is officially checked. Not all lenders offer preapproval, but if it’s available, take advantage of it.
  4. Review and sign the loan contract. Review your loan contract with your partners and financial advisor to ensure the terms benefit your business.

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 depends 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.

Let’s take a look at an example …

Cornflower Media Co. needed to cover overhead costs for a film shoot coming up in the next month, but it didn’t have the cash to afford the cost up front. The owner compared her options and narrowed it down to two lenders: OnDeck and LendingClub.

She prequalified with both and compared the results:

LenderAPRTermTurnaround timeMonthly repaymentTotal cost
OnDeck15%1 yearNext business day$902.58$831
LendingClub12%1 yearA few business days$888.49$661.85

After weighing both options, she decided that OnDeck was a better choice. While it cost more, it had a faster turnaround time to get her the funds. And the longer she waited, the more expensive the overhead costs would get.

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 so you can access the best loans for quick cash flow in your situation.

1. Business term loan

This straightforward 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. For $10,000, you can expect the term to be on the shorter side — around six months to two years.

Consider using a business term loan if …

  • You have a one-time expense
  • Your personal credit and revenue are strong
  • You know exactly how much you need to borrow

Consider other options if …

  • You want to fund an ongoing expense
  • You have poor credit or low revenue
  • You’re not sure how much you need to borrow

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.

Consider using a business line of credit if …

  • You experience regular cashflow gaps
  • You have unpredictable or ongoing expenses
  • Your credit card’s limit is under $10,000

Consider other options if …

  • You want to fund a one-time expense
  • You know how much you need to borrow
  • You don’t need regular access to cash

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, except for 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.

Consider using an SBA microloan if …

  • You want a better deal on a term loan
  • You’ve struggled to get funding before
  • You have time to spend on the application

Consider other options if …

  • You need money right away
  • You can qualify for a good deal on your own
  • You haven’t applied for a business loan before

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.

Consider using equipment or vehicle financing if …

  • You want to buy equipment or a vehicle for your business
  • You’re looking for a more competitive deal
  • You have the funds for a down payment

Consider other options if …

  • You want to fund a project or need working capital
  • You don’t have money for a down payment
  • You don’t want to put up collateral

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 unable to qualify for more traditional business loans. It’s faster than a lot of options but can be expensive.

Consider using a merchant cash advance if …

  • Your business relies on credit card sales
  • You’ve struggled to get funding in the past
  • You need funding right away

Consider other options if …

  • You don’t have trouble qualifying for a loan
  • Your revenue doesn’t come from credit card sales
  • Your funding needs aren’t urgent

Compare personal loans for startups

Startups may have an easier time qualifying for a $10,000 personal loan than a business loan — most startup loans are based on the entrepreneur’s income and credit requirements anyway. Select Compare for up to four personal loan providers to weigh factors like rates, loan amounts and credit score cutoffs for each provider.

Name Product Filter Values APR Min. credit score Loan amount
Upstart personal loans
Finder Score: 4.2 / 5: ★★★★★
Upstart personal loans
7.80% to 35.99%
300
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
SoFi personal loans
Finder Score: 4.4 / 5: ★★★★★
SoFi personal loans
8.99% to 29.99%
680
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no required fees.
Best Egg personal loans
Finder Score: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
640
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Upgrade
Finder Score: 4 / 5: ★★★★★
Upgrade
8.49% to 35.99%
620
$1,000 to $50,000
Check your rates with this online lender without impacting your credit score.
LendingPoint personal loans
Finder Score: 3.3 / 5: ★★★★★
LendingPoint personal loans
7.99% to 35.99%
620
$2,000 to $36,500
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
Happy Money
Finder Score: 3.8 / 5: ★★★★★
Happy Money
11.72% to 24.50%
640
$5,000 to $40,000
Pay down your debt with a fixed APR and predictable monthly payments.
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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.

Other business loan amounts:

Written by

Anna Serio

Anna Serio was a lead editor at Finder, specializing in consumer and business financing. A trusted lending expert and former certified commercial loan officer, Anna's written and edited more than 1,000 articles on Finder to help Americans strengthen their financial literacy. Her expertise and analysis on personal, student, business and car loans has been featured in publications like Business Insider, CNBC and Nasdaq, and has appeared on NBC and KADN. Anna holds an MA in Middle Eastern studies from the American University of Beirut and a BA in Creative Writing from Macaulay Honors College at Hunter College, CUNY. See full profile

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