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What credit score do you need to get a business loan?

There's no fixed cutoff, but your score can limit what types of financing you qualify for.

Your personal credit score is often one of the main factors business lenders consider when you apply for a loan. While not as important as it might be with a personal loan, it can impact your rate, loan amounts, terms and even what types of financing your company can qualify for. And in some cases, your business credit score might come into play as well.

Is there a minimum credit score to get a business loan?

No, there’s no one minimum credit score for all business loans. But most business lenders have a minimum personal credit score requirement that you’ll have to meet to qualify for a loan. You can sometimes find out what a provider’s credit requirements are by visiting its website — especially if it’s an online lender. Otherwise, you might have to call or visit a branch to learn if you’re eligible.

I have business partners. Do their credit scores count, too?

Likely, yes. Most lenders consider the credit scores of all partners who own 20% or more of the business. Often, you’ll all need to meet the minimum credit requirement to qualify.

What’s a good credit score for a business loan?

Lenders generally consider a credit score of 670 or higher to be good credit. But the higher your credit score is, the more options you have. A higher score also means you’ll be eligible for more competitive rates.

Larger loan amounts might also have higher credit requirements. If you’re interested in borrowing close to the maximum a lender offers, reach out to make sure your credit is strong enough to qualify. If your credit score is at 670 or higher, read our guide to the best good-credit business loans to compare our top picks.

What are my options based on my credit score?

The types of business loans available to you might vary depending on your credit score, though there’s no one specific cutoff — it varies by lender.

Good to excellent credit: 670 to 800

  • Term loans from banks, online lenders and credit unions
  • Lines of credit
  • SBA loans
  • Equipment financing
  • Vehicle financing
  • Invoice factoring
  • Invoice financing
  • Merchant cash advances

Most if not all options are on the table if you have a high credit score. This includes financing through banks and the Small Business Administration (SBA), which tend to have higher credit requirements than other types of lenders. Term loans, lines of credit, and equipment or vehicle financing tend to offer the most competitive deals especially — if they’re from a bank or online lender.

Fair credit: 580 to 669

  • Term loans from online lenders
  • Lines of credit
  • Equipment financing
  • Vehicle financing
  • Invoice factoring
  • Invoice financing
  • Merchant cash advances

With fair credit, your choices are slightly more narrow. You likely won’t meet the cutoff for an SBA loan — most lenders require a score of 660 or higher. And you could struggle to qualify with a bank or some of the more selective online lenders. You can strengthen your chances of approval by backing your loan with business or personal assets.

Poor credit: 300 to 579

  • Equipment financing
  • Vehicle financing
  • Invoice factoring
  • Invoice financing
  • Merchant cash advances

When your credit score drops below 580, the main options available are financing that’s backed by some kind of collateral, like equipment, vehicle or invoice factoring. Your other main choice is an advance on your business’s future profits, like factoring or a merchant cash advance. These last two options often don’t have any credit requirements at all. But they can cost the equivalent of a triple-digit APR — similar to a payday loan.

What about my business credit score?

Most businesses that have taken on debt financing also have a business credit score. In some cases, this can affect whether you’re approved for a business loan and how much financing you receive. While your personal credit score is attached to your Social Security number, your business credit score is attached to you by an Employer Identification Number (EIN).

Equifax and Experian offer business credit scoring, but the most commonly used business credit bureau is Dun & Bradstreet. Fewer factors go into a business credit score than a personal one. Also, because consumers have stronger legal protections than businesses regarding credit scores, it’s often harder to challenge an account dispute as a business.

Do I need a business credit score?

You don’t necessarily need a business credit score to get a business loan, though some do. If a lender considers your business credit score, it’ll consider it alongside your lenders consider both your personal credit. If you have a high business credit score, it won’t hurt. But your options aren’t necessarily limited if you don’t.

You can find out your business credit score by contacting credit bureaus like Equifax, Experian or Dun & Bradstreet.

To establish or improve a your business credit score, you must apply for a business loan from a lender that reports to business credit bureaus. Most lenders don’t advertise this, so you may need to ask. Experts say it’s good to have at least three accounts and build a history of timely payments.

What affects a business credit score?

Like your personal score, your business credit score fluctuates as you do business. Business credit bureaus analyze aspects of your business’s credit history that include:

  • Credit inquiries and applications. Your credit shopping patterns can affect your score depending on the frequency and type of credit.
  • Payment history. If you’re slow to pay your existing debt obligations, you might see a lower credit score. But overall responsibility and a healthy credit utilization ratio could outweigh a blip or two.
  • Years in business. A lender may consider a newer business riskier than one that’s been around longer.
  • Black marks on your credit. Defaults, judgments and bankruptcies can mar your score. Liens, lawsuits and delinquent taxes on the public record can also affect your score.
  • Your company’s details. Aspects of your company’s structure play into your score, like your legal name, line of business, directors and shareholders and even business classification codes.

Compare business loan offers

Select your desired loan amount, company revenue, time in business and personal credit score range. Then narrow down top business loans by minimum amount, maximum amount and more to find the best for your budget and financial goals. Select Compare for up to four products to see their benefits side by side.

1 – 7 of 7
Name Product Filter Values Min. Amount Max. Amount APR Requirements
National Business Capital business loans
Finder Rating: 4.3 / 5: ★★★★★
National Business Capital business loans
Starting at 1.5%
1+ Year in Business, $500,000 in Annual Revenue
Get high loan amounts at competitive rates. Plus, advisors are on standby to help you through the process.
Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★
Lendio business loans
Starting at 3%
Operate business in US or Canada for 6 months or more, have a business bank account, 560 personal credit score, at least $8,000 in monthly revenue
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
Finder Rating: 4.59 / 5: ★★★★★
Starting from 3.9%
525+ credit score, one year in business, at least $50,000 annual revenue
Compare lending options and get funded fast.
Finder Rating: 4 / 5: ★★★★★
Starting from 2%
550+ credit score, at least one year in business, $240,000+ annual revenue
Apply within minutes without impacting your credit score.
Finder Rating: 4.38 / 5: ★★★★★
Varies by loan type and lender
Must have been in business between 1–2 years, have a minimum revenue of $75,000–$250,000 and have a minimum credit score of 500–650.
Complete a three-minute form to see loans that fit your business’s needs. Compare offers without a hard credit check.
OnDeck short-term loans
Finder Rating: 4.6 / 5: ★★★★★
OnDeck short-term loans
29.9% to 65.9%
Companies in business at least 1 year, $100,000+ in gross annual revenue, majority owner with a 625+ personal credit score, active business checking account
Receive flexible financing at competitive fixed rates from this A+ rated business lender.
Finder Rating: 4.6 / 5: ★★★★★
Starting at 1%
600+ personal credit score, 1+ years time in business, $140,000+ minimum annual revenue, active business checking account required
Prequalify with this lending marketplace using an easy application process. Plus, work with real loan experts to make the best decisions on loan programs for ERC, SBA, e-commerce, cannabis and other loan categories.

What other factors do lenders consider?

Your credit score might be important to your business loan application. But it isn’t the only factor lenders consider. Here are a few other details they’ll look at:

  • Revenue. Most businesses lenders have a minimum revenue cutoff — and also require you to show that you bring in enough money each year to afford repayments.
  • Time in business. Many lenders want your business to have a track record of at least a year — though at least three years is ideal.
  • Net operating income. In addition to revenue, most lenders will consider how much money you have available after covering your day-to-day expenses.
  • Business debts. Lenders also typically ask about any outstanding debts in your business’s name. If your debts are equal to or more than your net operating income, you might struggle to qualify.
  • Collateral. Any business or personal collateral you can use to back the loan makes you less of a risk to a lender and can make up for a low credit score or short time in business.
  • Industry. If you work in what lenders consider to be a high-risk industry — like financial services or cannabis — you could have a hard time qualifying for some types of business loans.
20+ business loan requirements

Bottom line

While there’s no set minimum credit score for a business loan, your options might be more limited depending on your rating. And while your business credit score won’t necessarily factor in, your business partners’ personal credit ratings typically will. You can find out more about how to finance your company with our guide to business loans.

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