Top Loans for Small Businesses
Running a business is hard work. It takes dedication to turn a business idea into reality, and taking risks is the only way to succeed. That’s why it’s crucial for small businesses to be able to access capital from reputable sources.
Many lenders offer small-business loans; but with so many to choose from and varying loan terms, it can be hard to find the one that’s right for you. To make this process easier, we’ve created a list of some of the best loans available.
Established in 2013, BlueVine provides businesses with financing across the United States. It offers lines of credit up to $250,000, and invoice factoring credit lines up to $5 million. The lender also offers an online program for vendor and bill payments and business checking accounts. BlueVine has three brick-and-mortar locations in California, apart from branches in Louisiana and New Jersey.
Biz2Credit is a great resource for small business owners and entrepreneurs who want to see if they can qualify for a business loan or credit line. The company has arranged more than $3 billion in funds for American ventures.
Funding Circle is an online funding source for small businesses with a credit score of at least 660. The platform has partnered with investors to offer more than $11.7 billion in loans to 81,000 borrowers since its inception.
OnDeck is an online lender offering small-business owners flexible options for funding. The company provides term loans and lines of credit of up to $2 million. With the use of data analytics and digital technology, the company has extended $13 billion in loans.
Rapid Finance has small business financing options from $5,000 to $1 million. You can expect a reply regarding your application in 24 hours, and funds are typically available the next business day.
TD Bank provides financing to small businesses in 15 states and the District of Columbia. Small-business borrowers can choose from a range of loan products, including term loans, lines of credit, commercial mortgages, and Small Business Administration loans. The bank has been rated A+ by the Better Business Bureau and offers loans up to $5 million. However, the minimum FICO score is undisclosed.