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Compare $600,000 business loans

Taking out a $600K business loan isn't impossible, but comparing rates to find the best deal can make a huge difference in how much you'll pay back.

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
Loans in the $600,000 range are the most common funding amount, according to The Federal Reserve. But you typically need to be in business for one to two years with a minimum monthly revenue of at least $400,000 to qualify. Compare providers to make sure you're getting the most competitive rates and terms before you apply.

Compare $600,000 business loans

Filter $600,000 business loans by your company’s annual revenue, credit score and time in business to see personalized options.

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.
SMB Compass
Finder Score: 4.4 / 5: ★★★★★
SMB Compass
Starting at 5.99%
2 years in business, $25,000 monthly revenue, business bank account
Enjoy personalized solutions and a consultative approach for businesses with at least $25,000 in monthly revenue.
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What types of business loans for $600,000 are available?

Business loans for $600,000 cover a wide range of funding needs. 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 loanA 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

To learn more about business loans, check out our comprehensive guide to business loans – where you can learn more about the nuances of business financing.

Secured vs. unsecured business loans for $600,000

Business loans can either be secured or unsecured. Loans in the $600,000 range generally require collateral — especially if it’s an equipment loan or for commercial real estate. That said, getting an unsecured business loan of $600,000 may be possible from certain online lenders.

You’ll need a higher credit score and stronger business financials to qualify for an unsecured business loan. You’ll also probably need to show more business experience, requiring at least two years of experience for approval.

Where can I get a $600,000 business loan?

You can get a $600,000 business loan from banks, community lenders and lenders that offer financing backed by the Small Business Administration, or SBA. Some online lenders, like Fora Financial, also offer $600,000 in financing — though it’s not as common.

Bank loans are best for more established businesses that have been around for at least three to five years and have positive revenue. SBA loans can be a good choice if your business can’t qualify with a bank, since they’re partly backed by the federal government.

A local lender like a community development financial institution (CDFI) could also be a good low-cost option for new businesses and bad credit borrowers. Online business lenders also often work with startups or accept bad credit. But they tend to charge higher rates and fees than other providers.

How to qualify for a $600,000 business loan

To qualify for a $600K business loan, you and your business should be prepared to meet the following criteria:

  • At least one year in business. Most lenders require you to be in business for one to two years. You might get away with six months in business for lower amounts, but you’ll need a stronger credit score and more business experience.
  • Minimum monthly revenue. A general rule of thumb is that lenders will loan you 1x to 1.5x of your monthly revenue. To get a $600,000 loan, you’ll generally need to be earning $600,000 or more monthly.
  • Good personal credit. With lenders looking at your personal credit score, you generally need a credit score of 670 or higher, although 775 and up is better for a $600K loan. Compare top options for good credit borrowers in our guide on business loans.
  • A personal guarantee. All business owners will likely be required to provide a personal guarantee. This is especially for unsecured loans that aren’t backed by any kind of collateral.

How much does a $600,000 loan cost?

The cost of a $600,000 loan varies depending on your interest rate, fees and loan term.

For example, let’s say your loan came with a 9% APR and a 10-year term. This particular $600,000 loan would come with a $7,600.55 monthly payment and a total cost of $312,065.57 in interest and fees by the time your term is up.

See how much a $600,000 business loan costs at different rates and terms by using our calculator.

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How to get a $600,000 business loan

While the application process differs depending on the lender and loan type, follow these steps to apply for a $600,000 loan.

  1. Choose the type of loan you need before you start looking at lenders. For example, a $600,000 equipment loan is the way to go if you need more office supplies. But a line of credit could be better if your business consistently needs working capital.
  2. Compare business lenders online or by setting up an appointment with a loan officer. Look into all of your options — including banks, CDFIs and SBA lenders. Ask for a quote from your top choices before you make a decision.
  3. Gather the documents you need to complete the application. Most lenders will ask for bank statements, tax returns, financial projections and statements — at a minimum. SBA loans tend to have more complicated applications.
  4. Complete the application, following your lender’s directions. This can take a few days for loans of this size — especially when it comes to bank loans and SBA funding. Your lender might also reach out to ask for more documentation after you submit your application, depending on the business.
  5. Get your collateral professionally appraised if the lender requires it. A collateral appraisal is standard for real estate financing, but it’s also often necessary for equipment or inventory financing of this size.
  6. Review and sign your loan offer. Take note of due dates, rates, fees and the repayment plan. Save a copy for reference when you need.

Can I get a $600,000 SBA loan?

Get a $600,000 SBA loan through most SBA programs — though most low credit-friendly programs don’t have loan amounts of this size available.

To qualify for an SBA loan, your business must show that it can’t qualify for a bank loan — that’s why it’s helpful to apply with bank and SBA lenders. And while not mandated by the SBA, most lenders also require owners to have a 620 credit score.

The SBA also requires all businesses to meet its definition of a small business, which varies by industry. In some cases, you’ll be denied an SBA loan if you earn more than $1 million in annual revenue — which can make affording repayments difficult.

Which SBA programs offer $600,000 loans?

The most popular SBA programs offer $600,000 loans — though not all. You might want to consider these options, depending on your financing needs.

  • SBA 7(a) loans are government-backed term loans for working capital, refinancing and almost any other one-time expense. When applying for $600,000, even large lenders like Live Oak Bank could be a good choice.
  • SBA CAPLines are SBA-guaranteed lines of credit for expenses like ongoing working capital, filling a government contract, completing a construction project or preparing for a seasonal spike in sales.
  • SBA CDC/504 loans are government-backed financing specifically for real estate or equipment. These are funded by both a bank and a certified development company, or CDC.

If your business needs an SBA disaster loan, $600,000 loans are available to businesses with that amount of eligible expenses.

SBA International Trade and Export Working Capital loans are also available at $600,000. However, Community Advantage, SBA Express and Microloans aren’t available at this size.

Bottom line

To get a $600K loan, you’ll need good credit and at least a year in business to get approved for such a high amount, even with a secured loan. To compare lenders and get prequalified, see our picks for the best business loans.

Other business loan amounts:

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To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd and reviewed by Holly Jennings, a member of Finder's Editorial Review Board.
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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 bio

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Anna has written 251 Finder guides across topics including:
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Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio

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Kat has written 198 Finder guides across topics including:
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