The best small business loan depends on the financing you need: Bluevine and Fundbox for lines of credit, OnDeck and Biz2Credit for term loans, National Funding for working capital and equipment, Fora Financial for revenue-based funding, and Lendio if you want to compare many lenders at once. Most online lenders want a credit score of 600 to 650 and at least 6 to 12 months in business. Before you sign, compare the APR (not just the factor rate), check for a personal guarantee, and see whether an SBA-guaranteed loan from a bank would cost less.
This guide is for small business owners comparing online lenders and marketplaces for a line of credit, a term loan, equipment financing or revenue-based funding. The picks differ most on how much they lend, from $1,000 through Lendio's network to $2 million or more at Biz2Credit, and on how openly they publish their requirements and costs.
Cost deserves more attention than speed. OnDeck is the only pick that publishes average APRs, and those averages run above 50%. Several others publish no rates at all, so get written quotes before you compare offers.
Below you will find each lender's limits and requirements, a table matching loan types to needs, what it takes to qualify, how APRs and factor rates work, and the FTC's warning signs.
Company reviews
Best line of credit for established small businesses: Bluevine
- Loan type
- Business line of credit
- Amount
- Up to $250,000
- Min credit score
- 625 personal FICO
Why we picked it. Bluevine publishes clear eligibility rules and offers a revolving line of up to $250,000 with no maintenance fees. Once approved, you draw funds as needed and pay interest only on what you use.
More details, pros and cons
Rates and revenue: Rates as low as 7.8% for top qualifying customers, as listed October 2026; $10,000+ monthly revenue required
Funding speed: Decision in as little as five minutes; approved draws arrive in as fast as 24 hours, or instantly into Bluevine checking
Ownership: Agreed September 28, 2026 to be acquired by Valley National Bancorp, expected to close in early 2027, subject to regulatory approval
Pros
- Clear published requirements
- No maintenance fees
- Fast decisions; draws in as fast as 24 hours
Cons
- Requires an LLC or corporation
- Not available in Nevada, North Dakota or South Dakota
- Lowest rate reserved for top qualifying customers
- Pending sale to Valley National Bancorp (expected early 2027), so terms could change after closing
Skip it if: You are a sole proprietor or have been in business for less than a year.
More about Bluevine
Bluevine is a prominent financial technology platform that offers a powerful combination of a flexible business line of credit and a high-yield business checking account. Its innovative dashboard allows business owners to manage cash flow effortlessly. Decisions on credit lines are made in minutes, providing funding as quickly as 24 hours without hidden fees or prepayment penalties. The high-yield checking account includes impressive FDIC insurance up to $3 million. While it serves established companies perfectly, startups or businesses with lower credit scores might find its strict eligibility requirements challenging.
Best for small lines of credit with a fast online application: Fundbox
- Loan type
- Line of credit
- Amount
- Up to $250,000
Why we picked it. Fundbox offers a revolving line of credit of up to $250,000 through an online application, with loans made by partner banks. It now also powers financing inside other business platforms.
More details, pros and cons
Pros
- Online application
- Revolving credit you can redraw as you repay
- Several product types under one brand
Cons
- Eligibility rules and pricing not published on its main pages
- Company focus has shifted toward embedded financing through partner platforms
- Loans come from partner banks, so read the bank's terms
Skip it if: You want to see rates and requirements before you apply.
More about Fundbox
Fundbox stands out as an exceptionally accessible direct lender providing fast business lines of credit tailored for startups and smaller enterprises. Its streamlined, technology-driven platform connects directly to your business bank account or accounting software to make credit decisions in mere minutes. With requirements as low as a 600 FICO score and three months in business, it removes typical lending barriers. Businesses can draw funds and receive them the very next business day. While excellent for bridging short-term cash flow gaps, its restrictive repayment terms make it less suitable for long-term strategic financing.
Best marketplace for comparing many lenders and loan types: Lendio
- Loan type
- Marketplace: term loans
- Amount
- $1,000 to $5
- Min credit score
- 600
Why we picked it. Lendio is not a lender. It matches you with offers from 75+ lenders, which saves time if you are unsure which loan type fits, and its minimums are among the lowest of our picks.
More details, pros and cons
Pros
- One application, many offers
- Covers SBA and alternative loan types
- Lower minimums than most direct lenders
Cons
- Does not make credit decisions itself
- Your information goes to multiple lenders, which can mean many sales calls
- Accepting an offer may trigger a hard credit inquiry
Skip it if: You already know which lender you want.
More about Lendio
Lendio operates as one of the largest and most comprehensive online marketplaces for small business loans, connecting borrowers to a vast network of over 75 lending partners. Through a single, efficient application process, business owners can compare multiple customized financing offers, ranging from lines of credit to SBA loans. The platform accommodates a wide array of credit profiles, making it easier for businesses with fair credit to secure capital. Although it simplifies the search process significantly, borrowers must carefully evaluate the terms from matched third-party lenders, as interest rates and repayment structures can vary dramatically.
Show all 5 picks2 more, ranked 4 to 5
- Loan type
- Working capital loans
- Amount
- $6,000 to $500,000
- Min credit score
- 600
Why we picked it. National Funding has lent since 1999 and covers both cash flow needs and equipment purchases. According to the company, checking your options does not affect your credit score.
More details, pros and cons
Terms and speed: 4 months to 5 years; funding as fast as the next business day
Pros
- Equipment leasing and financing
- Soft credit check to see your options
- Long track record, with $7B+ funded
Cons
- Rates not published
- Time in business and revenue requirements not published
- Equipment financing capped at $150,000
Skip it if: You need more than $500,000.
More about National Funding
National Funding is a well-established direct alternative lender that delivers incredibly fast working capital loans and customized equipment financing. Focusing heavily on speed and accessibility, the company frequently processes applications within hours and funds accounts in as little as a single day. It accommodates business owners with fair credit, typically requiring a minimum score of 660. While its rapid turnaround is perfect for seizing immediate opportunities or covering unexpected emergencies, borrowers should anticipate higher costs associated with its factor rate structure compared to conventional bank financing.
Best for larger term loans for businesses with strong revenue: Biz2Credit
- Loan type
- Term loans
- Amount
- $25,000 to $2
- Min credit score
- 650 FICO for term loans
Why we picked it. Biz2Credit offers the largest amounts among the direct lenders here, up to $2 million or more, with fixed-rate term loans for eligible businesses. The trade-off is a higher bar: $100,000+ in annual revenue and a 650 credit score for term loans.
More details, pros and cons
Pros
- High maximum amounts
- Fixed-rate term loans
- Revenue-based option if credit is weaker
Cons
- 650 minimum credit score for term loans
- Line of credit available in only 30 states and DC
- Rates not published
Skip it if: You need less than $25,000.
More about Biz2Credit
Biz2Credit operates as a versatile online financing platform that connects small businesses with a wide variety of funding options. Designed for speed and efficiency, it provides access to term loans, revenue-based financing, lines of credit, and commercial real estate loans. Businesses can complete a streamlined digital application in minutes and receive funding within a few days. While it offers robust scalability and high customer satisfaction ratings, borrowers should be aware of its lack of transparent online pricing and recent regulatory actions. It is a solid choice for established businesses seeking rapid capital without strictly requiring the lowest interest rates.
Best small business loans by type
| You need |
Loan type |
Picks to compare |
| Flexible cash on hand |
Line of credit |
Bluevine, Fundbox, OnDeck |
| A one-time amount for a project |
Term loan |
OnDeck, Biz2Credit, National Funding |
| Equipment or vehicles |
Equipment financing |
National Funding, Fora Financial |
| Funding repaid from sales |
Revenue-based financing |
Fora Financial, Biz2Credit |
| Lowest long-term cost |
SBA loan |
Lendio (SBA lenders in its network) or your bank |
| Not sure |
Marketplace |
Lendio |
What you need to qualify
Online lenders usually look at three numbers:
- Personal credit score: 600 (Lendio, National Funding) to 650 (Biz2Credit term loans).
- Time in business: 6 months (Lendio) to 12 months (Bluevine, OnDeck).
- Revenue: $8,000 a month (Lendio) to $100,000 a year (OnDeck, Biz2Credit).
Have recent bank statements, your tax ID and your tax returns ready. Bluevine also requires an LLC or corporation.
How much a small business loan costs
Compare the annual percentage rate (APR), which includes interest and fees over a year. Some products quote a factor rate instead, such as 1.2, meaning you repay $1.20 for every $1 borrowed. On a short term, that can work out to a high APR.
OnDeck publishes average APRs of 53.2% on term loans and 59.8% on lines of credit, as listed October 2026. A February 2020 FTC staff perspective noted that merchant cash advances can carry estimated APRs in the triple digits. SBA-guaranteed loans from banks usually cost less but take longer to approve.
How to apply
- Decide the amount and what it is for.
- Check your personal and business credit.
- Gather bank statements, tax returns and financial statements.
- Prequalify with a soft credit check where offered (Lendio, National Funding).
- Compare at least two offers on APR, total repayment, payment frequency and prepayment terms.
- Read the contract for personal guarantees, liens and fees before signing.
Warnings and free alternatives
No lender can guarantee approval. The FTC advises small businesses to:
- Check with lenders you already bank with first
- Treat unsolicited financing emails with suspicion
- Ask whether a personal guarantee is required and what happens if you miss a payment
- Get answers in writing and avoid being rushed
- Get free advice from a Small Business Development Center before signing
FTC staff have also flagged merchant cash advance practices such as requiring owners to sign a confession of judgment, which waives the right to contest a collection lawsuit.
If you need lower-cost credit, ask about SBA 7(a), 504 or microloans (up to $50,000) through SBA-approved lenders, using the SBA’s free Lender Match tool. The SBA does not lend money directly.
Terms to know
- APR
- The yearly cost of a loan including interest and fees, used to compare offers.
- Factor rate
- A multiplier showing total repayment, such as 1.2 meaning $1.20 back per $1 borrowed.
- Line of credit
- Revolving credit you can draw and repay up to a set limit.
- Revenue-based financing
- Funding repaid as a fixed share of your future sales.
- Personal guarantee
- A promise that you will repay the business debt personally if the business cannot.
- SBA loan
- A bank loan partly guaranteed by the U.S. Small Business Administration.
