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Best business loans for excellent credit

Compare lenders for businesses in every stage for owners with a 760 credit score or higher.

Having a credit score of 760 or higher — or excellent credit — works in your favor if you’re looking for a business loan. But when it comes to business financing, your credit score isn’t as important as it would be with a personal loan. Banks typically weigh cash flow and your time in business over the owner’s credit scores.

Best business loans for excellent credit

Best for low-interest loans: SharpShooter Funding Business Loan

$500 - $250,000
Loan amount
Prime pricing from 9.00%
APR
6 - 120 months
Term
SharpShooter Funding offers loans for small business in amounts from $500 to $250,000 with terms ranging from 6 - 120 months. Just be aware that you'll need to have been in business for at least 100 days with a revenue of at least $10,000 /month to qualify for these loans.
  • Fee based loan
  • Large loan amounts
  • No collateral required to qualify
  • Terms lasting up to 5 years
  • Steep competition for funds
  • Strict eligibility criteria
  • High annual revenue requirements
Loan Amount $500 - $250,000
APR Fee based, Prime pricing starting at 9.00%
Loan Term 6 - 120 months
Fees $35 NSF fee
$45 incoming wire fee
Turnaround Time 48-72 hours
Min. Credit Score 580
Min. Required Revenue $10,000 /month
Min. Time in Business 100 days

Best for quick financing: OnDeck Business Loan

$5,000 - $300,000
Loan amount
8.00% – 29.00%
APR
6 - 18 months
Term
OnDeck Canada provides fast and affordable business loans. Borrow anywhere from $5,000 - $300,000 with terms lasting from 6 - 18 months. You'll have to repay the amount you borrow with fixed daily or weekly amounts, and your interest rates will range from 8.00% – 29.00%. Interest will depend on a number of factors like the state of your credit, how much you borrow and the length of your term.
  • Quick financing (get cash in as little as 24 hours)
  • Large loan amounts
  • No collateral required to qualify
  • Several loan types
  • Less competitive interest rates
  • Minimum credit score of 600
  • Businesses less than 6 months old won't qualify
Loan Amount $5,000 - $300,000
APR 8.00% – 29.00%
Loan Term 6 - 18 months
Fees No additional fees
Turnaround Time in as little as 24 hours
Min. Credit Score 600
Min. Required Revenue $10,000 /month
Min. Time in Business 6 months

Best for easy access to multiple lenders: Loans Canada Business Loan

$2,000 - $350,000
Loan amount
Prime Pricing from 9.00%
APR
3 - 60 months
Term
Loans Canada makes comparing multiple lenders easy with a single, streamlined application process. Simply provide some personal information and details about your business, then get matched with a list of lenders who will contact you to discuss your loan options. Loan types vary with amounts ranging from $2,000 - $350,000, and terms of up to 5 years. Interest rates vary based on your credit score, how long you've been in business and other factors.
  • Access to multiple lenders through a single application
  • Personalized loan options based on your business's needs
  • Loans for a wide variety of credit scores, even bad credit
  • Available in all provinces
  • Must have at least $50,000 in annual revenue
  • Must have been operating for at least 100 days
Loan Amount $2,000 - $350,000
APR Prime Pricing from 9.00%, Long term from Prime + 2.00%
Loan Term 3 - 60 months
Fees Wire / EFT Fee up to $99.95
Turnaround Time 48 Hours
Min. Credit Score 410
Min. Required Revenue $4,166 /month
Min. Time in Business 100 days

Best for peer-to-peer financing: Lending Loop Business Loan

$10,000 - $500,000
Loan amount
Starting at 4.96%
APR
3 - 60 months
Term
Lending Loop Business Loan is Canada's first fully regulated peer-to-peer small business lending platform. If your business meets minimum credit criteria, the company's credit assessment team will review your loan application and assign your business a loan grade ranging from A+ to E. Your loan request will be published on a marketplace to be reviewed and funded by various lenders. You can apply for loans of up to $500,000 with repayment terms of up to 5 years.
  • Loans available from $10,000 - $500,000
  • Low APRs Starting at 4.96% for qualified borrowers
  • No early repayment penalty fees
  • Sole proprietors can apply
  • Loan requests are published on the marketplace for up to 30 days, so it could potentially take that long to get fully funded
  • Requires at least $100,000 in annual revenue
  • Must have been operating for at least 12 months
Loan Amount $10,000 - $500,000
APR Starting at 4.96%
Loan Term 3 - 60 months
Fees Establishment Fee: 1.00% - 6.00%
Turnaround Time 2 - 14 days
Min. Credit Score 640
Min. Required Revenue $8,500 /month
Min. Time in Business 12 months

How we picked the best business lenders

These lenders represent some of the more flexible and transparent options available to borrowers with excellent credit. To compile our list, we considered the loan types available, minimum and maximum APR, repayment terms and the loan amount.

The best bank loan for excellent credit might be your local bank

Community banks can be a great option for small business owners that want to develop a strong, long-term relationship with a lender. Community bank loan officers are experts in your area’s business marketplace and can become a partner in growing and developing your business safely.

It might take a few weeks to fund your first loan. But once they get to know your business, your lender should learn to anticipate your business’s financing needs so you never need an emergency loan.

Other business loans you can apply for today

Name Product Interest Rate Loan Amount Loan Term Minimum Revenue Minimum Time in Business Loans Offered
SharpShooter Funding Business Loan
Prime pricing from 9.00%
$500 - $250,000
6 - 120 months
$10,000 /month
100 days
Unsecured Term, Merchant Cash Advance, Invoice Factoring
To be eligible, you must have been in business for at least 100 days with a minimum of $10,000 in monthly deposits.

SharpShooter provides capital to small businesses that are underserved by banks and credit unions. It measures overall business health and potential rather than focusing strictly on traditional metrics. Fill out a simple application and get pre-approved in minutes. Receive your funds within 24 hours.
Swoop Funding Business Loan
4.00% - 25.00%
$1,000 - $5,000,000
3 - 60 months
$10,000 /month
24 months
Term, MCA, LOC & more
To be eligible, you must have been in business for at least 24 months and have a minimum of $100,000 in annual revenue.

Swoop partners with banks and alternative lenders to match your business with the right funding options. Register for free and browse your offers without affecting your credit score.
Lending Loop Business Loan
Starting at 4.96%
$10,000 - $500,000
3 - 60 months
$8,500 /month
12 months
P2P
To be eligible, you must have been in business for at least 12 months and have a minimum of $100,000 in annual revenue.

Lending Loop is Canada’s first regulated peer-to-peer lending platform. Complete an application in 5 minutes. Once you accept your loan offer, investors will begin to fund your loan on the marketplace. Your loan will be transferred to your bank account when it is fully funded.
OnDeck Business Loan
8.00% – 29.00%
$5,000 - $300,000
6 - 18 months
$10,000 /month
6 months
Secured Term, Line of Credit, Merchant Cash Advance
To be eligible, you must have been in business for at least 6 months with a minimum monthly revenue of $10,000.

OnDeck offers fast and simple financing. Apply in less than 10 minutes with your basic business information and see your loan offers without hurting your credit score. Get approved within 1 business day, and choose your term, amount and payback schedule once approved.
Loans Canada Business Loan
Prime Pricing from 9.00%
$2,000 - $350,000
3 - 60 months
$4,166 /month
100 days
Unsecured Term
To be eligible, you must have been in business for at least 100 days, have a credit score of 410+ and show a minimum of $4,166 in monthly deposits ($50,000/year).

Loans Canada connects Canadian small business owners to lenders offering financing up to $350,000. Complete one simple online application and get matched with your loan options.
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How to choose the best lender for your business

The best lender for your business depends on several factors, such as what type of financing you need, the time you have to spend on the application and what your business can qualify for. Follow these steps:

  1. Define your priorities. Ask yourself questions to figure out what’s the most important to you. For example, are low rates more important than speed? Knowing what you want out of a lender is key to narrowing down your choices.
  2. Compare types of lenders. Start your search by comparing different types of business financing and lenders to see which offer the type of financing you need — and which might accept your business.
  3. Compare actual lenders. Rule out any lenders that don’t offer the rates, terms and loan amounts you’re looking for or any provider you definitely can’t qualify with.
  4. Prequalify. Reach out to your top choices to get an estimate of the types of rates you might receive. With some lenders, you can prequalify by filling out an online form. Others might require a phone call.

Bottom line

Fair credit won’t stop you from qualifying for one of these top business loans. But you should still explore your full range of options to ensure you’re making the right financial move for your business.

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