Top Business Loan Services - November 2019

Finance the top funding solution for your business needs. Compare and review the top business loan providers that offer low rates, ideal repayment terms, and fast approval.

Loan Amount
Loan Requirements
Editor's choice

$1,000 - $5,000,000

  • Time in business: 12+ months
  • $20K in monthly revenue
  • Minimum credit score: 580

$5,000 - $500,000

  • Time in business: 9+ months
  • $3.5K in monthly revenue
  • Minimum credit score: 600

$2,000 - $1,000,000

  • Time in business: 12+ months
  • $8k in monthly revenue
  • Minimum credit score: none

$2,000 - $250,000

  • Time in business: 12+ months
  • $4.2K in monthly revenue
  • Minimum credit score: none

$5,000 - $500,000

  • Time in business: 12+ months
  • $10k in monthly revenue
  • Minimum credit score: none

Joe Schwartz | Business Loans Editor

Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.

Most Commonly Asked Questions about Business Loans

Financing your business has become easier than ever with the many the lenders and business loan providers available. From SBA loans to lines of credit, businesses can apply for many types of loans in the market. Get started with the most commonly asked questions about business loans services.

1. Should I get a business loan?

Business loans have a few advantages. By obtaining a loan, the lender does not have equity in the business. Instead, you simply need to repay principal plus interest. After repayment, you do not need to share profits with the lender. This also reduces administrative duties by eliminating the need for shareholder meetings and votes. In addition, loans do not require the same regulations on investments.

2. What kind of information do I need to provide to apply for a loan?

Lending requirements depend on the business loan service. Often, lenders expect good credit, collateral, and steady monthly revenue for approval. A commercial lender may also request a business plan to prove that a business can repay the loan.

3. What is APR?

The APR (annual percentage rate) refers to the annualized interest rate charged for your personal loan. Typical APRs range from about 5% up to 30%. The APR of the loan depends on the applicant’s financial history, assets, income, credit history, and other factors.

4. How much time do I have to repay the loan?

Repayment agreements depend on the terms negotiated between your business and the lender. Repayment periods can be as low as 6 months or less or for up to 5 years or more. When negotiating your loan, make sure to agree upon repayment terms that suit your current budget.

5. What kind of business loans are available?

There are many options for financing your business. Below are a few of the most common types of business loans:

Business Lines of Credit: A line of credit that businesses can access when needed

Equipment Financing: Loans to finance equipment in which equipment serves as collateral

SBA Loan: Low-cost, flexible loans secured by the Small Business Administration

Short Term Loan: Small loans with short repayment terms between 3 to 18 months

You might also be interested in