Can you get a $300,000 business loan with bad credit?

It'll be difficult to get a $300,000 loan with bad credit, even if you apply to an alternative lender. This is a large amount, and lenders reduce their risk of loan defaults by approving low amounts only.

What are the eligibility requirements for a $300,000 business loan?

Eligibility requirements differ depending on the lender, but you typically need a strong credit score, at least two years of business history, consistent revenue, a detailed business plan and sufficient collateral.

Can you 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.

Home Authors Rebecca Low

Rebecca Low

Writer

Rebecca Low is a writer for Finder. She has contributed to a range of digital publications, including income.ca, Indeed, and Expatden, writing on topics like personal finance, career development, and travel. Rebecca also brings a strong editorial background to her work, as she’s an experienced non-fiction book editor with the Ultimate 48 Hour Author.
She holds an Honours Bachelor of Arts in English, linguistics, and book & media studies from Canada’s top university, the University of Toronto.
She’s passionate about crafting content that informs and inspires readers, and when she’s not writing, she’s usually abroad or planning her next trip!