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Large Business Loans Over $500K, $1M and More

Need $500K or more? See which lenders offer big business loans and how to qualify.

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Christi Gorbett

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Megan B. Shepherd

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Are you looking to borrow $500,000, $750,000, $1 million or more for your business? Whether you’re expanding, buying equipment or taking on a major project, large business loans are out there — but they’re not always easy to find or qualify for. We break down your options and help you figure out which type of funding makes the most sense for your situation.

Compare large business loans

If you’re looking for a large business loan of $500,000 or more, it can be difficult to sort through the various options to see which lenders offer amounts that high. Here’s a comparison chart of the best options:

LenderInterest ratesLoan amountsLoan termsKey features
BusinessLoans.comVaries by lender and loan type$10,000 to $3M3 months to 5 yearsLoan marketplace offering term loans, LOCs, MCAs and more
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FundThrough2.2% per 30 daysUp to $10 millionNo fixed termInvoice factoring with QuickBooks integration; B2B focused
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LendioVaries by lender$1,000 to $5,000,0003 months to 25 yearsMarketplace with access to 75+ lenders; term loans, SBA, equipment, more
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Rapid FinanceNot stated$5,000 to $10 millionVaries by loan typeOffers a variety of loan types, including SBA loans, MCAs, lines of credit and invoice factoring
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CrediblyFactor rates start at 1.11$5,000 to $10,000,0003 months to 10 yearsFast funding even with bad credit; requires daily or weekly repayment
Read Review
Fora FinancialUndisclosed$5,000 to $1.5M4 to 18 monthsShort-term funding with early payoff discounts and low doc requirements
Read Review
LendistryPrime + 2.0% to Prime + 6.0%$250,000 to $10,000,000Up to 25 yearsOffers term loans and SBA financing with fair credit required
Read Review
National Business CapitalVaries by lender$100,000 to $10,000,0006 to 120 monthsLoan marketplace offering multiple funding types, including term, SBA and equipment loans
Read Review
altLINE (The Southern Bank)Factoring fee of 1% and 5%Up to $5 million in invoices per monthVariesDirect lender offering invoice factoring with a 24- to 48-hour turnaround
Read Review
ARF FinancialNot stated$5,000 to $1 millionUp to 36 monthsTerm loans with flexible repayment and no hard credit pull to apply
Read Review
FundibleStarting at 0.75% per monthUp to $6M5 months to 10 yearsOffers various funding types, including term loans, equipment financing and line of credit
Read Review

Types of large business loans

Not all large business loans are built the same. The right fit depends on what you need the money for, how fast you need it and what kind of repayment terms you can handle. Here’s a breakdown of the most common types of large business loans available on the market.

  • Term loans. Term loans give you a lump sum up front and a set repayment schedule, usually with fixed interest. It’s ideal for long-term investments like expansions, equipment or major renovations.
  • SBA loans. Backed by the US Small Business Administration, SBA loans offer low rates and long repayment terms, sometimes up to 25 years. It’s popular for big projects but can take longer to get approved and funded.
  • Business lines of credit. A business line of credit works more like a credit card than a loan. You borrow what you need (up to your approved limit) and only pay interest on what you use. It’s great for managing cash flow or covering unexpected expenses.
  • Merchant cash advances (MCAs). Merchant cash advances (MCAs) provide a lump sum in exchange for a percentage of your future sales. Repayment is often daily or weekly and fees can be high, so it’s best for businesses with strong, consistent revenue.
  • Equipment financing. If you’re buying machinery, vehicles or tech, equipment financing lets you spread out the cost over time. The equipment acts as collateral, which may make it easier to qualify.
  • Invoice factoring. With invoice factoring, you sell unpaid invoices to a lender in exchange for fast cash. It can be a quick way to unlock working capital, especially for B2B businesses.

General requirements for a large business loan

Lenders tend to be more cautious with high loan amounts of $500,000, $750,000, $1 million or more — which means the requirements are often stricter than for smaller loans. Here are a few things you’ll typically need to qualify:

  • Strong credit history. Most lenders look for a personal credit score of 680 or higher, especially for unsecured loans.
  • Established business. Expect to show at least two years of business history, though some lenders may consider six to 12 months if your revenue is strong.
  • Solid annual revenue. Many large loan providers want to see an annual revenue of $250,000 or more, depending on the loan size.
  • Business plan or loan purpose. For SBA loans or high six-figure amounts, you may need to explain how you’ll use the funds and how it’ll help your business grow.
  • Collateral (sometimes). Some large loans may require business or personal assets to secure the funding — especially if your credit or cash flow is borderline.
  • Financial documents. Be prepared to submit tax returns, bank statements and profit-and-loss statements to verify income and cash flow.

Can you get a large business loan with no credit check?

Getting a large business loan — especially one over $500,000 — almost always involves a credit check. Lenders use your credit history to evaluate risk, and when you’re asking for that much funding, they’re going to look closely at both your personal and business credit profiles.

However, some lenders do things differently. They may only run a soft credit check for prequalification or focus more on your business’s revenue than your credit score. A few even offer options like merchant cash advances or revenue-based loans based on your daily sales, not your credit report.

Can you get a large business loan with bad credit?

Getting a big business loan with bad credit isn’t easy. Most lenders want to see strong credit for amounts like $500,000 or more. But if your business has solid, steady revenue, offers collateral, or you apply with a cosigner who has good credit, you might still qualify.

Some online lenders work specifically with borrowers with bad credit, offering smaller, short-term loans or merchant cash advances based more on your sales. However, these loans typically cost more and may not provide as much funding.

How to get a large business loan online

Applications vary by lender, but here are the general steps for how to get a large business loan online:

  1. Check your credit and financials. Know your personal and business credit scores, revenue and expenses. This helps you understand what you qualify for and which lenders to target.
  2. Compare lenders. Look at interest rates, loan amounts, repayment terms and application requirements. Marketplace lenders can be a good starting point if you want to see multiple offers.
  3. Gather your documents. Most lenders ask for tax returns, business bank statements, a profit-and-loss report and sometimes a business plan, especially for large loan amounts.
  4. Prequalify if possible. Many lenders let you check your rates with a soft credit pull. It won’t hurt your score and can help you compare terms before submitting a full application.
  5. Apply online and upload your documents. Complete the lender’s application and provide the required paperwork.
  6. Review your offer and sign the agreement. Once approved, go over the loan terms carefully. If it looks good, sign and wait for funding — which could take anywhere from 24 hours to a few weeks, depending on the lender and loan type.

What to consider before getting a large business loan

Before you take on a six- or seven-figure loan, it’s worth slowing down to make sure it’s the right move for your business. Ask yourself these questions:

  • Can your business afford the monthly payments? A $500,000 loan — or more — can mean large, frequent payments. Make sure your cash flow can handle it without putting stress on day-to-day operations.
  • Do you really need the full amount? It’s tempting to borrow more “just in case,” but that can mean paying interest on money you don’t need. Only borrow what you have a clear plan to use.
  • What is the loan’s total cost? Look beyond the interest rate. Fees, factor rates and short repayment terms can make some loans far more expensive than they appear.
  • How soon do you need the funds? Some loans — like SBA loans — take weeks or even months to fund. If you need money fast, you may need to consider alternative options, even if they cost more.
  • Is the lender reputable? Be cautious of lenders that promise guaranteed approval or avoid questions about terms. Stick to transparent providers that clearly outline all fees and repayment details.
  • What’s your backup plan? If things don’t go as expected, will you still be able to repay the loan? It’s smart to have a contingency plan in place before committing to a large amount of debt.

Other ways to borrow a large amount of money

A traditional business loan isn’t your only option if you need $500,000 to $1 million or more. Depending on your situation, one of these alternatives might be a better fit:

  • Commercial real estate loan. If you’re buying, refinancing or renovating property, a commercial real estate loan can give you access to high loan amounts with long repayment terms.
  • Business credit card with a high limit. A high-limit business credit card can be helpful for managing short-term expenses or working capital needs. Some cards offer rewards or 0% intro APRs — but they’re not designed for long-term borrowing.
  • Equity financing. Selling a portion of your business to raise capital means you won’t have loan payments — but it means giving up some ownership and possibly control.
  • Angel investors or venture capital. For startups or fast-growing businesses, bringing on investors can provide access to large amounts of funding and strategic guidance. Just be prepared to pitch and negotiate.
  • Personal loan or HELOC (for small business owners). If you have strong personal credit or home equity, you might qualify for a personal loan or a home equity line of credit (HELOC) that can be used to fund your business. Just know your personal finances are on the line if you default.
  • Crowdfunding. If you have a strong story or an innovative product, crowdfunding platforms can help raise funds from individual supporters. You’ll need a solid marketing plan, but you don’t have to give up equity or repay the money.

Frequently asked questions

How hard is it to get a large business loan?

It could be difficult, depending on your business’s financials, credit history and how much you’re asking for. The stronger your revenue, credit score and time in business, the easier it is to qualify — but high loan amounts usually come with stricter requirements.

What is the payment on a $1,000,000 business loan?

It depends on the loan term, interest rate and type of loan you choose. For example, a $1,000,000 loan with a 10-year term at 8% interest could mean monthly payments around $12,000.

But if you take out a merchant cash advance with a 1.3 factor rate and a 12-month term, you’d repay $1.3 million — which could mean payments of around $5,000 per business day, depending on your repayment schedule. To see how much a big business loan of $1 million might cost you, plug your expected APR and repayment terms into our business loan calculator.

Can I get a $2 million business loan?

Yes, you can get a $2 million business loan, but it’s not something most lenders hand out easily. You’ll need to have both strong revenue and good credit to qualify. The best place to find a loan that large is to check with marketplaces like Lendio and National Business Capital. They work with lenders that offer high amounts — all the way up to $5 million or $10 million.

Megan B. Shepherd's headshot
To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.
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Contributor

Christi Gorbett is a freelance writer with more than eight years of experience and a master's degree in English. She’s created a wide range of content for banks, financial product comparison sites, and marketing companies on topics like small business loans, credit cards, mortgages, retirement planning, lender reviews, and more. As a former teacher, Christi excels at making complex financial topics accessible and easy to understand. Her interest in finance grew when she returned to the U.S. after living in South Korea for nearly a decade. This shift was driven by several personal financial challenges: rebuilding her financial base after the move home, starting her own business, and catching up on retirement savings. These experiences deepened Christi’s practical understanding of finance and intensified her interest in the field. See full bio

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