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Compare $300,000 business loans

Find a secured or unsecured $300k business loan and calculate the cost.

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
If your business can qualify for a $300,000 business loan, you'll likely get one of the lower rates a lender has to offer. But simply meeting a lender's minimum requirements often isn't enough. You generally need good credit, a couple years in business and the cash flow to support the monthly payments. That's why it's essential to compare providers and prequalify to make sure your business is eligible.

Compare providers for $300,000 business loans

To get started, select the range for your annual revenue, time in business and credit score to see personalized results.
Name Product Filter Values Min. Amount Max. Amount APR Requirements
Lendio business loans
Finder Score: 4.8 / 5: ★★★★★
Lendio business loans
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.
Finder Score: 4.9 / 5: ★★★★★
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
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.

What types of business loans for $300,000 are available?

Business loans for $300,000 cover a wide range of financing scenarios. Here’s a list of the most common types.

Type of financingDescriptionUse
Short term loanAn unsecured lump sum loan with repayment terms of up to 18 monthsTo cover unexpected costs or to survive a downturn
Business term loanAn unsecured lump sum loan with repayment terms of up to 10 yearsTo provide working capital for more established businesses
Business line of creditA revolving line of credit for ongoing needsTo tap into funds as needed and pay off as you go
Business cash advanceA quick turnaround loan for newer businessesTo borrow against the money you plan to make
Accounts receivable financingA loan with an amount tied to your receivablesLets you access cash by selling your purchase orders or receivables
SBA loanA low interest small business loan partially backed by the governmentTo provide working capital to grow your business
Startup loanA term loan for businesses with limited credit historyTo provide working capital to get your business off the ground
Equipment financingA collateralized term loan to fund equipmentTo pay for any kind of equipment for your business
Business credit cardA revolving line of credit for ongoing needsTo tap into funds as needed and pay off as you go

Secured vs. unsecured business loans

Business loans can either be secured or unsecured. A secured loan is backed by collateral from your business – like real estate, equipment or other valuable assets. An unsecured loan is based on your creditworthiness and doesn’t require collateral. But with an unsecured loan, you’ll likely need to provide a personal guarantee.

Can I get an unsecured $300,000 business loan?

It’s possible to get an unsecured $300,000 business loan, especially if you apply with an online lender. However, most lenders prefer to collateralize $300,000 loans because they stand to take a sizable loss if your business defaults.

And even then, most unsecured loans require a personal guarantee from all business owners with a 20% stake in the company.

Where can I get a $300,000 business loan?

You can get a $300,000 business loan from most banks, online lenders and loans backed by the Small Business Administration (SBA).

Community and regional banks might be a particularly good choice for small businesses. While large banks like Chase often offer loans of this size, it can be difficult for smaller businesses to qualify for financing — especially if you have fewer than 10 employees.

Some online lenders like Fora Financial and Rapid Finance offer $300,000 loans — even to borrowers with bad credit. But online lenders typically only finance smaller projects, and some don’t offer financing over $250,000.

How to apply for a $300,000 business loan

You can apply for a $300,000 business loan by following these general steps. But beware — the application process is usually more intensive for a loan of this size than for financing under $100,000.

  1. Decide on the type of loan your business needs. Long-term loans and equipment financing are best for investing in long-term growth projects. Short-term loans, lines of credit, inventory financing and business cash advances are best for short-term needs and ongoing projects.
  2. Compare business loan providers and check your eligibility. This could involve setting up an appointment with a loan officer at a bank. Or use a connection service like Lendio that partners with both bank and online lenders to quickly compare offers.
  3. Get prequalified. After you’ve made a list of lenders you’re interested in, get a personalized quote from your top choices by doing a prequalification. Prequalification allows you to compare rates and terms before applying and doing a hard credit pull.
  4. Gather all required documents. For a $300,000 loan, this will require a government-issued ID, EIN, bank statements from the past few months for the business and owners, tax returns, financial statements and financial projections.
  5. Apply for the loan. If your lender has an online application, this sometimes only takes a few minutes. But SBA loans typically require multiple forms that can get complicated. It may be worth signing up for a packaging service from a company like SmartBiz.
  6. Appraise collateral. If required, hire a professional to appraise your collateral. While standard for real estate loans, you might also need to take this step for an equipment loan or if you are financing inventory.
  7. Sign your loan offer. If you’re approved for a loan, read your loan offer carefully before signing, noting the interest rate, fees, repayment terms and due dates.

How much does a $300,000 loan cost?

How much a $300,000 loan costs depends on the rates, fees and loan terms your lender offers.

Suppose your business took out a $300,000 loan at an 8% APR and a seven-year term. The loan would cost your business around $4,676 each month and about $92,772 in interest after you’ve fully paid off the loan.

See how much a $300,000 business loan costs at other rates and terms by using our calculator and compare costs to typical business loan rates.

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Can I get a $300,000 SBA loan?

You can get a $300,000 loan from most SBA lenders. In fact, SBA loans can be a great option for established small businesses that have been around for about three years but can’t qualify for a bank loan.

It’s not a bad credit option, however. You need a credit score of at least 620 to qualify for government-backed financing. And your business typically needs to have enough revenue to support payments — usually around just under $1 million to $3 million.

But the SBA sometimes has revenue caps, which vary depending on your industry. For example, many agriculture businesses must earn less than $1 million in annual revenue to qualify.

Which SBA programs offer $300,000 loans?

Most SBA loan programs offer $300,000 loans. Here are some options you might want to consider:

  • SBA 7(a) loans are general-purpose term loans and the most popular SBA loan program. But for a $300,000 loan, avoid the largest 7(a) lenders like Live Oak Bank, which typically specialize in financing higher dollar projects.
  • SBA Express loans can be used in the same way as a 7(a) loan — but with a faster turnaround. However, a lower SBA guarantee means your business likely needs to back the loan with collateral valued at up to $150,000.
  • SBA CAPLines offer $250,000 lines of credit for expenses like working capital, filling a government contract, completing a construction project or preparing for a seasonal spike in sales.
  • SBA CDC/504 loans are specialized financing for real estate or equipment purchases and are available at $300,000.

Bottom line

Banks and SBA lenders are often your best bet for $300,000 business loans. Before you land on a lender, compare the best business loans. Determine which ones have the type of financing you need and — if it’s available — prequalify before you submit your full application.

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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