Compare business loan options
The fastest way to find a lender is to get matched using our quiz. But if you’d like to see more options, use our table to compare rates, requirements and loan options from different lenders. You might want to weigh other factors that are important to you, like no paperwork requirements or lower rates for repeat borrowers. If you’re applying online, you may also want to consider the steps lenders take to protect applicants information.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How to get a small business loan
Most small businesses can get a business loan by determining how much funding the business needs and comparing lenders. It can be difficult to qualify for a small business loan with:
- Less than three years in business
- A credit score under 670
- Less than $100,000 in revenue
But you may be able to find financing from an SBA loan provider or an alternative lender if bank loans aren’t an option.
Alternative lenders include microlenders, online business loan providers and factoring companies. They might not offer competitive rates compared to a bank, but they can help your business get to a place where it’s eligible for a bank loan.
How the application process works
In most cases, you need to get prequalified for a business loan before you can apply. Prequalification often involves providing basic information about your business assets, revenue and cash flow.
If you accept an prequalification offer, you can move on to the full application. Typically, you need to provide more details and documents to verify the information on the application form. Many lenders also consider the personal finances and personal assets of all business owners with a 20% stake in the company.
If a lender offers online applications, you can typically get credit approval within 24 hours. You can often receive funds within one to two business days after closing. Bank loans and SBA loans often take a few weeks. An unsecured business loan also typically takes less time than a loan that requires collateral.
What is Finder?
Finder is an independent comparison platform with a mission to help small business owners and consumers make smart financial decisions. Our team of lending experts have backgrounds in journalism, editing and commercial lending. And we’ve written hundreds of reviews and guides to business financing.
Finder may receive compensation from the lenders on our site. And in some cases, it may affect where providers appear on a page. But our strict editorial process ensures that money doesn’t influence the content of our business loan guides or reviews.
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