Best Business Loan Companies

Currency Capital was founded in 2009 to save faltering businesses in the wake of the economic crisis. The company’s goal is to give business owners a range of financial options and to promote the health of the small business community. Currency Capital is a member of the National Equipment Finance Association (NEFA).

Founded in 2007, National Business Capital & Services is a Bohemia, New York-based business financier. It is known for providing loans to small businesses across the US, Peurto Rico and Canda in a quick and efficient manner. The company also offers business equipment financing and business lines of credit, in addition to small business loans.

Imperial Advance is an online business loan marketplace that focuses on providing small businesses with access to the funds they need. After you apply for a quote, a financial consultant will contact you with loan offers from numerous lenders.

Headway Capital is a part of the publicly-traded lender Enova International. Headway Capital offers lines of credit up to $35,000 to many types of small businesses. It is headquartered in Chicago.

Also known as BFAdvance LLC, Nationwide Business Advance Companies, Merchant Cash Advance Companies and Business Advance Companies. Business Finance Advance offers funding opportunities to small, mid-sized and large companies. BFA deals in alternatives to traditional bank loans as part of its mission to make funding more accessible to businesses.

LendVantage’s mission is to make it easier for small businesses to gain access to working capital. The company offers special financing to women-owned businesses and provides general business financing.

• Products: Business loans and cash advances. LendVantage offers 4 types of financing; business term loans, revenue-based financing, merchant cash advance and business line of credit.
• Interest rates: Rates and terms vary based upon type of loan product selected. There are no application fees.
• Service: LendVantage offers funding through a variety of lending partners.
• Borrower qualifications: Borrowers must provide four months of business bank account records. No collateral or credit score minimum is required.
• Fast approval process: The online loan application takes only a few minutes. Pre-qualification can be secured within 24 hours. After speaking with a customer service representative, the business line of credit approval may be completed in minutes. Funds may be received from the funding partner within 72 hours after the underwriting and approval process is completed.
• Large lender network: LendVantage partners with a large number of other lenders, making it more likely that users will find a lender that meets their needs.
• Loan limits: Businesses can borrow up from $2,000 up to $250,000 through LendVantage.
• Repayment option: Repayments vary based on type of funding. Types of loans and repayment terms are listed on the website compare page.

Through their lending marketplace, Biz2Credit connects borrowers with their network of over 1,300 pre-screened lenders. Biz2Credit has been connecting businesses and lenders since 2007. The company processes more than $1.5 billion per year.

Kabbage is a non-traditional small business lender that provides cash strapped businesses a line of credit. Kabbage uses a variety of data sources used by the borrowers’ business to quickly deliver funding.

Lendio is an online loan network facilitator. After a brief application, the company matches small and local businesses and appropriate lenders within the Lendio network.

Wall Street Funding provides loans to businesses based on their expected future earnings. The company requires no collateral and offers cash advances to fund a variety of business expenses.

• Products: Wall Street Funding’s products include cash advances or loans against future revenue with a fixed payback amount.
• Interest rates: The company doesn’t charge upfront costs or application fees. Payback is calculated based on the borrower’s monthly revenue.
• Service: Borrowers complete an online application and can receive a response within two hours. Telephone assistance is available.
• Borrower qualifications: Business must have at least $10,000 in bank deposits per month and have been in business for at least 60 days.
• Fast approval process: Loan approval is available within 24 hours. Funding may be received within 72 hours.
• Loan limits: Funding depends upon company revenue and ranges from $3,000 to $750,000.
• Repayment options: The fixed payback amount is based on borrower’s monthly revenue.

Started in 1995, American Capital Group provides funding for businesses to obtain equipment. Additionally, American Capital serves as the middleman between vendors and equipment lessees for business owners seeking equipment to lease. Products: 100 percent financing for the cost of new or used equipment including tax and shipping. Personally tailored leasing programs. Offerings include application-only, start-up, 100 percent finance, FastTrack and Flex-Pay programs. This company also offers funding for inventory management and specialized customer projects.

Founded in 1998, Can Capital offers a wide range of loans as well as an online tool to help determine the best available funding options. Can Capital works to create an individualized experience for each client and their business' needs.

• Products: Small business loans and merchant cash advances including inventory and equipment loans are available. Their Daily Remittance Platform TM and proprietary risk models yield higher funding approval rates and broader small business financing options than competitors products.
• Interest rates: Dependent upon business’ strength and/or borrower’s creditworthiness.
• Service: Online customer service representatives available.
• Borrower qualifications: For merchant cash advances, borrower must have an established business and accept credit card payments. For merchant cash advances and business loans, company is assessed based upon various factors such as sales, time in business and performance.
• Fast approval process: Rapid approval process and funding available in as little as 2 business days.
• Loan limits: Business loans range from $2,500 to $150,000 and can vary in term from four to 24 months. Merchant cash advances range from $5,000 to $150,000 and don’t have a fixed term or maturity date.
• Repayment options: Several repayment options are available depending on the type of loan. Cash advances are repaid with variable daily debits from the businesses credit card receipts and depend upon sales. Fixed business loan payments are automatically withdrawn from the business bank account daily.

Funding Circle is an online loan marketplace specifically focused on small businesses. Funding Circle matches borrowers with accredited lenders from across the globe. Investors in Funding Circle loans receive higher interest rate returns than banks and CDs while helping small businesses fund their goals.

• Products: Small business loans for various needs such as expansion, inventory, equipment, refinance debt or to hire additional staff.
• Interest rates: As of April 12, 2016, fixed interest rates start at 5.49 percent and go up to 26.79 percent, depending on loan term, business and borrower qualifications. The firm promises a transparent fee structure and no prepayment penalties.
• Service: Access to a dedicated loan specialist for assistance is available throughout the borrowing process.
• Borrower qualifications: The application process requires two years of the most recent business tax returns, the most recent personal tax return, and six months’ recent business bank statements. For loans greater than $300,000, additional documentation includes six months’ recent bank statements, YTD balance sheet and income statement, and completion of the company’s ”outstanding business loans & credit worksheet.”
• Approval process: The quick online application promises immediate response from the loan specialist. Borrowers may receive the loan qualification within 72 hours and funding may be secured within 10 business days.
• Loan limits: From $25,000 to $500,000.
• Repayment options: Monthly repayment is the norm and the term varies from 1 to 5 years.
• Website: Excellent and transparent website with easy access to educational resources and borrower information.

National Funding is one of the nation’s largest alternative lenders for small to midsize businesses. Founded in 1999, the company provides a wide range of services to help small companies with their funding needs, including capital loans and equipment financing.

• Products: Small, short-term and unsecured business loans; working capital loans and equipment financing; individually tailored lending solutions with flexible repayment structures and early repayment discounts.
• Interest rates: Factor rate of 1.10 at the time of publishing.
• Service: Quick online application process and designated funding specialist.
• Borrower qualifications: $250,000 in annual gross revenue, six months in business and fair to excellent credit.
• Fast approval process: Funding possible within 24 hours; funds deposited in your bank account the next day.
• Loan limits: $10,000-$500,000.
• Repayment options: Fixed repayment terms with daily and weekly repayments.
• Business resource center: Useful educational tools, blog, white papers and more.

Fundera is an online marketplace that helps small business owners connect with funding providers. The company simplifies the business loan application process by doing the groundwork to identify the industry lending leaders to expedite the borrowing process.

Fundation is a small to mid-sized lender that utilizes technology to expedite the lending process. The company is a direct lender, which means they lend their own money.

• Products: A range of small business loan products with fixed and simple interest rates are available. The types of loans include short-term business, bridge, expansion and acquisition, working capital, alternative, commercial, inventory, refinancing, and cash-flow loans.
• Interest rates: The interest rates are risk-based and determined based upon estimated credit risk of the borrower. Including origination and closing fees the annual percentage interest rates range from 7.99 percent to 29.99 percent as of April, 2016. There are no prepayment fees.
• Service: There is a 10-minute application process and access to a dedicated customer relationship manager. Online live chat also available.
• Borrower qualifications: Minimum qualifications include two years in business, three employees and $100,000 in annual revenue. Good personal credit is required.
• Fast approval process: After loan documents are signed the loan is eligible for approval.
• Loan limits: General lending parameters range from $20,000 to $500,000. One million is available to qualified businesses.
• Repayment options: Repayment terms vary based upon loan. For most loans the repayment period is one to four years. There are shorter term options for working capital, inventory turns and immediate cash flow needs. For business growth and expansion loans, longer terms are available. Payments are due twice per month.
• Special features: Refinancing is available after nine months. Transparent and easily accessible website and online customer chat feature.

RapidAdvance is a full-service small business lender that directly funds its loans. The company offers a range of lending options, from its Small Business Loan Program to cash advances, lines of credit and financing for SBA guaranteed loans. RapidAdvance is one business within a large family of companies.

• Products: RapidAdvance offers a variety of financing options, including small business loans, merchant cash advances, lines of credit and SBA bridge loans, which help business financially bridge the gap between the time they apply for an SBA guaranteed loan and the time the loan is approved.
• Interest rates: Available based upon credit-worthiness after completing an application. Rates start at 1.25 percent per month.
• Service: RapidAdvance offers a dedicated account executive and online phone chat.
• Borrower qualifications: There are lending solutions for all types of borrowers.
• Fast approval process: Approval is available within 24 hours with funding in as little as three days.
• Loan limits: Flexible lending limits depend upon the client’s business revenues and qualifications.
• Repayment options: The repayment options are customized to fit the client.

ForwardLine is a financing company that gives its clients access to loans, merchant cash advances and payment processing services. It was founded in 2003 by a group of business professionals that wanted to make it easier for companies in the United States to find the capital needed to expand operations and improve sales strategies. Today, ForwardLine has a financing volume over $250 million and a payment processing volume over $1 billion.

Founded in 2010 as RetailCapital, this company gives small and medium-sized retail businesses access to working capital and business loans. In 2015 they adopted the new name, Credibly, to reflect their growth to markets other than retail. They now serve over 125 industries and have partnered with Flexpoint Ford, a private equity investment firm, WebBank, Alostar Bank of Commerce and CapitalSource to offer a wider variety of services.

Celtic Bank was founded in 2001 and is headquartered in Salt Lake City. They lend money to small and medium-sized for business acquisition, working capital, inventory and equipment. They also finance ground-up construction, offer debt refinancing, money marketing accounts (MMA) and certificates of deposits (CD).

Expansion Capital Group (ECG) was founded in 2013 and offers financing options to small and medium-sized businesses. ECG has worked with more than 650 types of businesses and loaned those businesses more than $65 million.

The Business Backer was founded in 2007 and is headquartered in Blue Ash, Ohio. They have financed businesses with more than $4 million. The publically traded company offers several types of funding, including equipment loans, working capital, lines of credit and traditional loans.

OnDeck was founded in 2007 and is a publically traded company. It’s headquartered in New York City. Since it began, the company has provided over $4 billion in capital to small businesses. They base their application approval on both a business’ gross revenue and the owner’s credit history.

SmartBiz is headquartered in San Francisco. The company was founded in 2008 to help businesses secure small business loans.

The Interface Financial Group (IFG) has provided financial services to small and medium-sized businesses for more than 40 years. They offer invoice financing, meaning they purchase unfilled invoices from a B2B client and then the customer pays IFG when the invoices are completed.

Dealstruck is a financial services company headquartered in Carlsbad, Calif. They offer traditional business loans as well as alternative funding options for small and medium-sized businesses. They focus on providing flexible options so business owners can determine which financing option is best for them.