5 Best Personal Loans for Business (2026)

It can be difficult to qualify for a business loan if you’re a startup or don’t meet lenders’ minimum revenue and time-in-business requirements. But personal loans can be easier to qualify for and offer faster funding, with typical loan amounts up to $50,000 or more. Not all lenders allow you to use personal loan funds to finance your business, but the lenders on this list might just fit the bill.

Compare these top personal loan lenders that offer personal loans for business and accept borrowers with a range of credit scores.

Best personal loans for business

• Best for low rates: Upgrade personal loans
• Best for self-employed borrowers: Avant personal loans
• Best for joint applicants: Prosper personal loans
• Best for no origination fee: Laurel Road personal loans
• Best for same-day funding: Rocket Loans personal loans

Finder Score	Loan amount	Loan term	APR
Best for low rates
Finder score 8.2 Great Upgrade personal loans	Finder score 8.2 Great	$1,000 to $50,000	2 to 7 years	7.74% to 35.99%	Go to site View details Compare product selection Compare	loading	Why we like it Upgrade’s interest rates start at a low 7.74%, which is lower than most competitors. And it’s a good option for business owners with fair credit because it accepts scores as low as 580. It also accepts joint applicants, which can help you qualify for a larger loan amount and a lower rate. But it can still be expensive with an origination fee up to 9.99% and APRs that could reach as high as 35.99%. Pros & cons Pros Rates start at 7.74% Accepts fair credit Allows joint applicants Cons Origination fees up to 9.99% APRs up to 35.99%
Best for self-employed borrowers
Finder score 6.8 Standard Avant personal loans	Finder score 6.8 Standard	$2,000 to $35,000	24 to 60 months	9.95% to 35.99%	Go to site View details Compare product selection Compare	loading	Why we like it Avant's biggest benefit is that it welcomes self-employed borrowers, a rare trait among lenders. Business owners who work for themselves — such as contract workers, sole proprietors or freelancers — may be able to qualify. However, you’ll still need to provide proof of steady income by submitting your last two years of tax returns. On top of that, Avant can be pricier than some options, with a starting rate of 9.95% and an administration fee up to 9.99%. Pros & cons Pros Accepts self-employed income 550 minimum credit score Next-day funding possible Cons High starting rate Administration fee up to 9.99% Requires 2 years of tax returns from self-employed borrowers
Best for joint applicants
Finder score 7.6 Great Prosper personal loans	Finder score 7.6 Great	$2,000 to $50,000	2 to 5 years	8.99% to 35.99%	Go to site View details Compare product selection Compare	loading	Why we like it Unlike many lenders, Prosper allows you to borrow with a joint applicant, making it a great choice if you have a partner or someone willing to help you secure funding. It may also be an option if your credit score isn’t the best, because depending on where you look, it may accept scores as low as 600 or possibly 640. But its lowest rate is higher than some lenders on this list, and it charges origination fees and check-processing fees, among others. Pros & cons Pros Accepts joint applicants Fair credit OK Incentives for early repayment Cons Charges origination and other fees Relatively high starting rates APRs up to 35.99%
Best for no origination fee
Finder score 8.4 Great Laurel Road personal loans	Finder score 8.4 Great	$5,000 to $80,000	3, 4, 5 or 7 years	8.99% to 24.25%	View details Compare product selection Compare	loading	Why we like it Unfortunately, many lenders that offer personal loans for business charge origination fees up to 10%, but Laurel Road is a rare exception. It also offers competitive rates with a low maximum rate of 24.25% — far lower than most lenders’ max rate of 35.99%. Plus, it offers a 0.25% rate discount when you use autopay. Its maximum loan amount is lower than that of some lenders that offer personal loans for business, although medical professionals may be able to qualify for larger loan amounts. Plus, its minimum amount is on the high side compared to some of the competition, and funding can take up to seven days. Pros & cons Pros No origination fees Competitive rates Higher loan amounts for medical professionals Cons Low max loan amount Funding can take up to a week Relatively strict requirements to qualify
Best for same-day funding
Finder score 7.9 Great Rocket Loans personal loans	Finder score 7.9 Great	$2,000 to $45,000	3 or 5 years	8.01% to 29.99%	Go to site View details Compare product selection Compare	loading	Why we like it Rocket Loans offers same-day funding on loans up to $45,000. This timeframe sets it apart from most lenders, where the typical turnaround time is between two and five business days. It also has a fast and easy application process, great customer reviews and offers competitive rates. But it charges origination fees up to 9.99%, you’ll need at least a 640 credit score, and it only offers two loan terms. Pros & cons Pros Same-day funding possible Competitive rates Positive customer reviews Cons Origination fees up to 9.99% Requires 640 credit score Only offers 2 loan terms

loading

Methodology: How we choose the best personal loans for business

Finder’s editorial experts review dozens of personal loan lenders on the market to narrow down the best ones that you can use for business purposes. We weigh each lender based on these key metrics:

• APRs
• Origination fees
• Other fees
• Minimum and maximum loan amounts
• Minimum and maximum loan terms
• Number of states served
• Minimum credit score requirements
• Joint application availability
• Turnaround time
• Online application availability
• Prequalification process
• Better Business Bureau ratings
• Trustpilot ratings
• Other features, such as rate discounts

How to compare personal loans for business

Here are some key factors to keep in mind when you’re comparing personal loans to fund your business.

• Can you use this loan for your business? Double-check that the lender allows you to use the loan for business purposes. Some lenders have restrictions on how you can use your loan proceeds.
• Rates. Personal loan rates typically range from about 6% to 36%, and you’ll need a good credit score to qualify for the lowest rates.
• Fees. Many lenders charge origination fees that can range from 1% to 10% of the loan amount. It can be difficult to find one that never charges an origination fee, and you’ll likely need good or excellent credit to avoid it altogether.
• Loan terms. Most personal loans have terms from two to seven years. Bear in mind that you’ll pay less in interest with a shorter term, but your monthly payments will be larger. Pick the term that works best for you without stretching your budget too far.
• Lender requirements. Make sure you’re aware of the lender’s minimum requirements, particularly regarding credit scores, so you can apply where you’re most likely to get approved.
• Turnaround time. If you need the money right away, a few lenders offer same-day funding, like Rocket Loans. But most of the rest can get you funded within a few days to a week.

Pros and cons of personal loans for business

Using a personal loan to finance your business could be a smart move, but consider all the angles before you apply.

Compare other types of loans for your business

5 of 5 results

Updated regularly

Finder Score	APR	Min. credit score	Loan amount
Promoted Finder score 9 Excellent SoFi personal loans	Finder score 9 Excellent	8.74% to 35.49% fixed APR	680	$5,000 to $100,000	A highly-rated lender with competitive rates, high loan amounts and no required fees.	Go to site View details Compare product selection Compare	loading
Promoted Finder score 9.3 Excellent Upstart personal loans	Finder score 9.3 Excellent	6.5% to 35.99%	300	$1,000 to $75,000	This service looks beyond your credit score to get you a competitive-rate personal loan.	Go to site View details Compare product selection Compare	loading
Promoted Finder score 8.5 Great Best Egg personal loans	Finder score 8.5 Great	6.99% to 35.99%	640	$2,000 to $50,000	Fast and easy personal loan application process. See options first without affecting your credit score.	Go to site View details Compare product selection Compare	loading
Finder score 9.5 Excellent LightStream personal loans	Finder score 9.5 Excellent	7.24% to 25.39%	Good to excellent credit	$5,000 to $100,000	Borrow up to $100,000 with low rates and no fees.	Go to site View details Compare product selection Compare	loading
Finder score 8.2 Great Upgrade personal loans	Finder score 8.2 Great	7.74% to 35.99%	580	$1,000 to $50,000	Check your rates with this online lender without impacting your credit score.	Go to site View details Compare product selection Compare	loading

loading

Load More

Showing 5 of 5 results

Compare other products

We currently don't have that product, but here are others to consider:

How we picked these

What is the Finder Score?

The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

Read the full breakdown

How to prequalify for a personal loan for business

Prequalifying for a personal loan allows you to get an idea of the rate and terms you might ultimately qualify for, without taking a hit to your credit. It’s also a great way to compare personal loan lenders to find the best deal.

1. Call, visit a local branch or fill out an online application.
2. Wait while the lender conducts a soft credit check.
3. Receive notification if you prequalify.
4. Review loan offers.
5. Compare offers from a few lenders.
6. Choose your best offer and formally apply.

Business loan alternatives

If a personal loan isn’t the right move for you, consider some of these common types of business loans, how much you can typically borrow and what they’re best for.

Other alternatives to personal loans for business

Here are a few additional ways to get financing for your business.

• Credit cards. If your small business expenses will fit on a personal credit card, then it may make sense to use it. Not only can you earn cash back and travel rewards, but you may also qualify for a 0% APR introductory period when you open a new credit card.
• Business credit cards. A business credit card allows you to make minimum monthly payments to keep your costs down, as long as you’re willing to pay interest on the carried balance. This is a good way to build your business credit history while covering small to midsize expenses.
• Home equity financing. If you’re a homeowner with at least 20% equity, you could get a home equity loan or home equity line of credit (HELOC) to help finance your business at competitive rates. But it does put your house at risk.
• Friends and family. If your friends and family have the ability, they can be a good source of financing when your credit score is low or you don’t have access to other loan options. Small business owners should still commit to regular repayment — and it could be worth hammering out an official loan agreement to keep both parties happy.
• Crowdfunding. A small business that offers a unique service or product could look into a crowdfunding website to get initial funding. However, you’ll need to commit to marketing on multiple platforms to gain enough traction, especially if this is your primary source of business financing.
• Grants. Grants don’t require you to pay back any funding. This makes them one of the most sought-after options for businesses and the most difficult to qualify for. Only certain types of businesses will be eligible. And even if you qualify, be prepared to spend weeks or even months preparing an application and waiting for a response.

Frequently asked questions

• Is using a personal loan for business a good idea?

  It can be. If your credit score is pretty good, you could qualify for a competitive rate and get the funds you need to finance your business. But remember that you are personally responsible for repaying the loan, not your business, so make sure you can afford the repayments.

• Can I get a loan with just my EIN number?

  It's possible, but not very common. Most business lenders require you to provide both your employer identification number (EIN) and your Social Security number to qualify for a loan. However, some alternative loans, like merchant cash advances and invoice factoring, may only require your EIN when you apply.

• Can you use a business loan for personal expenses?

  No. While some lenders allow you to use personal loans for your business, the reverse isn't true. It's actually a violation of your loan agreement to use your business loan for anything other than business expenses, and the lender typically outlines this stipulation in your contract. And, while it's not guaranteed, you could potentially risk defaulting on your loan if the lender decides to audit how you've used the funds.

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.

Written by

Lacey Stark

Writer

Lacey Stark is a freelance personal finance writer for Finder, specializing in banking, loans, investing, estate planning, and more. She has 20 years of experience writing and editing for magazines, newspapers, and online publications. A word nerd from childhood, Lacey officially got her start reporting on live sporting events and moved on to cover topics such as construction, technology, and travel before finding her niche in personal finance. Originally from New England, she received her bachelor’s degree from the University of Denver and completed a postgraduate journalism program at Metropolitan State University also in Denver. She currently lives in Chicagoland with her dog Chunk and likes to read and play golf. See full bio