How much business loan can I get?

You may be able to borrow between $5,000 and $1 million to start or grow your company with a business loan. Find out more about how much business financing you can get with different types of loans and lenders, and compare several providers to find the best option for your needs.

How much business loan can I get?

Business lenders typically offer between $5,000 and $500,000, although the amount you’ll get usually depends on which lender you choose. The amount you can borrow also depends on personal factors, such as your credit score, debt-to-income ratio and business revenue.

You’ll usually be able to access more money if you have an established business, a strong credit rating and a decent amount of disposable income. You’ll be able to borrow less if you’re just starting out or if you have a poor credit history.

How much of a business loan can I get with different types of lenders?

You may be able to qualify for the following amounts based on the lender you choose:

1. Bank loans

If you’re wondering how much of a bank loan you can get for your business, first understand that banks tend to offer the largest business loans compared to other types of providers. Many banks offer business term loans starting at $5,000 and reaching as high as $1 million, although you may have to put up collateral like business equipment or real estate to qualify.

2. Credit union loans

Credit unions usually offer smaller business loans that typically range from $5,000 to $100,000. These loans are usually more flexible than bank business loans and may require you to meet less strict eligibility criteria to qualify.

3. Online loans

Online lenders typically offer business financing as low as $5,000 up to $300,000, though you may be able to find providers that offer more. Larger funding amounts typically need to be backed by collateral, such as business equipment or real estate.

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Merchant Growth Business Loan

How much can I get with different types of business loans?

There are a several types of business loans that let you borrow various amounts of money:

Canada Small Business Financing Program (CSBFP)

You can borrow up to $1 million if you get a CSBFP loan, which is mostly backed by the federal government and administered through banks. Up to $350,000 of a CSBFP loan can be used for equipment and leasehold improvements. Read our detailed guide to CSBFP loans to learn more about how it works and how to apply.

Business term loans

The amount you can typically get with a business term loan is between $5,000 and $1 million, though many lenders will cap their loans at less than $500,000 (or even $50,000 to $100,000, in some cases). As with other types of business loans, larger amounts are typically only available with collateral.

Lines of credit

Many banks offer business lines of credit starting at $10,000, with the maximum limit defined by your business needs and financial position. Private lenders offer lines of credit that can go as high as $500,000 when secured by business assets or as high as $50,000 when unsecured.

Merchant cash advances

A merchant cash advance gives you an advance on your future sales. Most lenders that offer merchant cash advances will let you borrow between $5,000 and $50,000. You’ll pay this money back using a predetermined portion of the credit card sales for your business each month.

Equipment and vehicle financing

You may be able to borrow between 80% and 100% of the value of the equipment or vehicles you want to purchase—usually up to $500,000 with a bank or online lender. You can also borrow up to $350,000 for equipment with a CSBFP loan. Learn more about equipment financing here.

Microloans

Business microloans run from roughly $500 to around $10,000, depending on the provider. These are meant to fund small startup costs and are usually available to entrepreneurs and bad credit borrowers.

Invoice factoring

Alternative business loans like invoice factoring might get you more funding than a term loan or line of credit because of the way they’re structured. Invoice factoring involves selling your unpaid invoices at a discount and can let you borrow thousands of dollars against the money you’re owed.

But beware: This tends to be much more expensive than your standard term loan and is generally best saved as a last resort.

Compare business loans from online lenders

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Product	Finder Score	APR	Loan Amount	Loan Term	Broker Compliance
Journey Capital Business Loan	Finder score 7.8 Great	8% – 29%	$5,000 - $300,000	4 - 24 months		To be eligible, you must have been in business for at least 6 months with a minimum gross revenue of $100,000 in annual revenue.	Go to siteMore Info Compare	loading Fetching your data...
Advance Funds Network Business Loan	Finder score 7 Great	Starting at 9.00%	$5,000 - $500,000	4 - 24 months		To be eligible, you must have been in business for at least 6 months, have a minimum annual revenue of $240,000 and a minimum credit score of 500.	Go to siteMore Info Compare	loading Fetching your data...
Merchant Growth Business Loan	Finder score 7.1 Great	12.99% – 39.99%	$5,000 – $800,000	6 – 24 months		To be eligible, you must have been in business for at least 6 months and have a minimum of $120,000 in annual revenue.	Go to siteMore Info Compare	loading Fetching your data...
Loans Canada Business Loan	Finder score 7.4 Great	9.99% - 35.00%	$500 - $500,000	3 - 60 months	Loans Canada is a loan search platform. Applicants will be matched with lenders.	To be eligible, you must have been in business for at least 9 months, have a Canadian business bank account and a minimum of $120,000 in annual revenue.	Go to siteMore Info Compare	loading Fetching your data...
Driven Business Loan	Finder score 7.5 Great	Undisclosed	$10,000 - $300,000	3 - 24 months		To be eligible, you must have been in business for at least 6 months and have a minimum of $84,000 in annual revenue.	More Info Compare	loading Fetching your data...

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Finder Score for business loans

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 10+ business loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

How much can I get to start a business?

If you want to get a loan to start a business, you’re more likely to qualify for a small business loan worth less than $10,000. That said, you may be able to qualify for up to $1 million with some loans (such as CSBFP loans) if you can present a viable business plan and have solid finances and a strong credit score.

Ultimately, the business loan you can get to start a business will depend on factors like your financial situation and credit score. A startup loan can be much more difficult to get than a normal business loan, since you won’t have a proven track record or business revenue to use as collateral to secure your payments.

How much business loan can I get based on my personal situation?

The maximum loan amount a lender will give and the amount you can qualify for are often very different. Understand how the factors below can influence how much of a business loan you get.

6 ways to qualify for more business funding

From applying for government-backed financing to making a hefty down payment, here are a few strategies for how to qualify for a larger business loan:

1. Put up collateral. You can often qualify to get a larger business loan if you put up collateral to secure your payments. Assets can include your house, vehicle or business equipment.
2. Don’t skip the down payment. You may be able to borrow more with a larger down payment, since your lender will see that you have the ability to save money and commit to your business.
3. Pay off debts first. You could be eligible to get a larger business loan if you go into your loan agreement with a lower amount of other personal and business debt.
4. Improve your credit score. The higher your personal credit score, the less risk you pose to the lender, since you’ve shown you can manage debt responsibly, which could include a large business loan.
5. Apply for a CSBFP loan. You can likely borrow more money with a CSBFP loan, since these loans are backed by the federal government.
6. Wait until your business is more established. You may qualify to get a larger business loan once your business has been operational for a while and your revenue increases.

Bottom line

How much business lenders offer and how much you can borrow are two different numbers. But the one you might want to focus on is how much you actually need to borrow for your project to avoid taking on more debt than necessary.

Check out our business loans guide to compare lenders and learn more about how borrowing money for your business works.

FAQs about how much you can get for a business loan

• Can I get a business loan with no money down?

  Yes, it's possible to get a business loan with no money down. While you may have a higher chance of approval or be offered lower rates if you put money down, lenders don't generally require a down payment for business loans.

• What is the highest business loan you can get?

  While it depends on the lender, the highest business loan you can get from banks is typically $1,000,000. The highest business loan you can get with other lenders is $100,000 from credit unions or $300,000 from online lenders.

• How much business loan can I get with a new business?

  It can be much more difficult to get a business loan for large amounts if you're just starting out. This is because most lenders will want to see at least a year's worth of revenue and solid business performance before they will lend to you.

• How much do you have to put down on a business loan?

  It depends on the type of business loan. Generally, you don't have to make a down payment on a general-use term loan. Equipment and vehicle financing tend to require a down payment of around 20%, although it's not always required.

• How much business loan can I get if I have bad credit?

  You may have a difficult time applying for a business loan if you have bad credit. Most lenders will only give you small amounts (less than $10,000) if you can't prove that you have a decent credit score. You'll usually have to pay higher interest rates on your business loan with bad credit.

• Can I get a business loan with no credit check?

  It's not likely. Generally, you'll need good credit to get a business loan. You might want to look into other financing options that don't involve taking on debt, like equity investments or crowdfunding, if you don't meet startup loan requirements.

Written by

Claire Horwood

Associate editor

Claire Horwood was a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, and an Associate’s Degree in Science from Camosun College. Much of Claire’s coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. In her spare time, Claire enjoys rock climbing, travelling and drinking inordinate amounts of coffee. See full bio