Getting a small business loan from a bank can mean weeks of paperwork and a credit score you might not have. Fintech lenders trade some of that flexibility for speed, funding many approved businesses within a day or two. Here’s how seven top lenders compare.
We looked at loan amounts, published rates or factor rates, fees, credit score flexibility and how each lender handles eligibility, verifying every figure directly from each lender’s own website. We also checked whether each company lends directly or operates as a marketplace, since that changes what you can expect to see in an offer. Only lenders that clearly offer small business loans made the cut.
Before you apply, look past the headline loan amount and weigh these factors against your own cash flow.
A small business loan is financing a business uses for expenses like covering payroll, buying inventory, purchasing equipment or funding an expansion. Unlike a personal loan, it’s typically issued to the business itself and may require a personal guarantee from the owner. Small business loans come in several forms — term loans, lines of credit, equipment financing and more — each suited to different needs and repayment structures.
Fintech lenders differ from traditional banks mainly in speed and eligibility. Where a bank might take weeks to underwrite a loan and require years in business, many fintechs can approve and fund within a day or two, and some accept lower credit scores in exchange for higher rates.
Weigh these before deciding if a small business loan is the right move for your business.
We currently don't have that product, but here are others to consider:
How we picked theseThe Finder Score crunches 12+ types of business loans across 35+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best business loans for startups loans, you can see how each business loan stacks up against other business loans with the same borrower type, rate type and repayment type.
Small business financing isn’t one-size-fits-all. Here’s how the main types compare.
| Type | Typical loan amounts | Typical term lengths | Best for |
|---|---|---|---|
| Term loan | $5,000–$500,000+ | 3 months–5 years | One-time, large purchases |
| Line of credit | $6,000–$250,000 | Revolving, 6–24 months per draw | Ongoing or unpredictable expenses |
| SBA loan | Up to $5 million | Up to 25 years | Businesses that can wait for funding and want lower rates |
| Equipment financing | Varies by equipment cost | 2–5 years | Purchasing machinery or equipment |
| Merchant cash advance | $5,000–$600,000 | 3–24 months | Businesses with steady card sales needing fast cash |
Requirements vary by lender, but most fintechs look for the following:
Once you’ve picked a lender, applying usually follows the same basic steps:
See which lenders actually skip financials and credit checks, verified directly from each lender’s own website.
Bank statement business loans use your deposit history instead of tax returns to prove income.
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