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Published: Jun 23, 2023 21 min read

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Applying won’t affect credit score

  • Loan Amounts: $5,000 to $250,000
  • Average Yearly Revenue requirements:$100,000
  • Minimum Credit Score: 625 FICO
  • Minimum Time in Business to apply: 1 year
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Loans best for small to mid sized businesses who need capital, FAST

  • Loan Amounts: $10,000 to $500,000
  • Average Yearly Revenue requirements: $250,000
  • Minimum Credit Score: 600 FICO
  • Minimum Time in Business to apply: 6 months
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Merchant cash advances, invoice factoring, equity financing, and debt financing option

  • Loan Amounts: Up to $5 million
  • Average Yearly Revenue requirements: $120,000
  • Minimum Credit Score: 620 FICO
  • Minimum Time in Business to apply: 1 year
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No cost and no credit check application that can be filled out in minutes

  • Loan Amounts: Up to $3 million
  • Average Yearly Revenue requirements: $200,000
  • Minimum Credit Score: 620 FICO
  • Minimum Time in Business to apply: 1 year
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Lines of credit up to $250,000

  • Apply online and get a decision in minutes
  • Once approved, receive funds in one to seven days 
  • No long-term contracts and no termination fees
  • Must have $10,000 in yearly revenue
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Online tracking platform + personal Account Manager keep your business goals in check

  • Loan amounts: $5,000 to $500,000
  • Average yearly revenue requirements: $250,000
  • Minimum credit score: None
  • Minimum time in business to apply: 1 year

Business loans for startups help new businesses get on their feet. The best of them allow startups to access funds without having to go through a lengthy traditional loan application process. With some lenders, business owners can also take advantage of business credit cards, business lines of credit, and even grants. Entrepreneurs can use the funds they borrow for payroll, inventory, equipment, insurance, utilities and more.

As you start your company, choosing the right business loan can mean the difference between smooth sailing and headaches every time you need money. We've analyzed some of the top startup business loan companies to help you determine which one is right for you.

Our top picks for startup business loans

  1. OnDeck: Best for shorter processing time
  2. Business Blueprint: Best for longer loan terms
  3. Fundbox: Best for true startups
  4. Fora Financial: Best for flexible spending
  5. Bluevine: Best for low interest rates
  6. Finance Factory: Best for minimal requirements
  7. Lendio: Best for higher loan amounts
  8. Triton Capital: Best for equipment purchase

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Best startup business loans reviews

Why we chose it

OnDeck's application process is fast and easy, and the company has a streamlined, simple underwriting process. In some cases, you can access up to $100,000 in term loans the day you apply. If you choose a line of credit, you can access amounts from $1,000 to $10,000 that day. On average, loans are approved in 2 to 3 days.

  • Fast access to cash
  • Minimal documentation required to apply
  • Lends to those with low credit scores
  • Daily or weekly repayments
  • Not available in some states or to all industries
  • Higher interest rates

OnDeck provides loans from $5,000 to $250,000. Your business must bring in over $100,000 a year to qualify for a startup business loan. Lines of credit range in amount from $6,000 to $100,000.

OnDeck also has flexible qualification requirements, making it a good option for business owners with lower credit scores. You can borrow money even with a credit score as low as 625.

For a business loan for a new business, you must pay origination fees between zero and four percent of your total loan upfront. Repayment terms are set at up to 24 months. Payments are due daily or weekly.

For an OnDeck business line of credit, there is a $20 maintenance fee, but if you withdraw $5,000 or more within one week of opening your loan, OnDeck waives this fee. There are no prepayment penalties or draw fees. Check your loan agreement for returned or late payment fees. Repayment terms reset each time you draw and last up to 12 months. Payments are due weekly.

To qualify for an OnDeck startup loan, you must have a business established for one year or more.

OnDeck doesn't provide loans to some industries and is unavailable to businesses in South Dakota, North Dakota or Nevada.

Loan Amounts Minimum Credit Score Loan Terms Process Time
$5,000 to $250,000 for loans
$6,000 to $100,000 for lines of credit
625 12 to 24 months As fast as one day

Why we chose it

Business Blueprint is a business loan product marketed by American Express. The company offers many term options to choose from, a transparent fee schedule and a lenient application process. American Express is the parent company, so you can manage your small business loans and personal accounts from the same platform. Business Blueprint lines of credit are ideal for those who know they won't be able to pay them back quickly.

  • Return option within 24 hours
  • High limits for credit lines
  • No documentation, monthly maintenance, annual or origination fees
  • More repayment term options
  • Personal guarantee required
  • Every draw counts as a separate installment loan
  • No business loans, only lines of credit

Business Blueprint offers a line of credit of up to $250,000, although the company reviews businesses individually before it decides on the final terms. Because every business is unique and has different revenue and cash flow patterns, you're not guaranteed to be approved for that much money.

Business Blueprint offers several repayment options. If you qualify, you choose between a 6, 12 or 18-month repayment plan.

Business owners must be 18 or older and your business must have at least one year of established earnings to obtain funding. Business Blueprint requires a minimum credit score of 640 and monthly business revenue of at least $3,000.

Applicants must have a Business Blueprint business checking account. Business Blueprint offers a dashboard that allows you to simultaneously manage your line of credit, credit cards and business accounts. Having all of this information in one place has many benefits, including easier cash flow management.

Loan Amounts Minimum Credit Score Loan Terms Process Time
Up to $250,000 640 6, 12 or 18 months 1 to 3 business days

Why we chose it

We included Fundbox in our review because qualification is more accessible than with similar lenders. Fundbox is AI-powered, which streamlines the application, funding and qualifying process. While many lenders require that you establish your business for at least one year, Fundbox only has a six-month requirement. Fundbox also offers flexible repayment terms, no prepayment penalty, next-day availability and the option to access your working capital through Stripe, a payment processing platform you can use to send payouts, accept payments and otherwise manage online business matters.

  • Apply with only a six-month history of being in business
  • Decision made within three minutes
  • Low minimum credit score requirement
  • Next-day funding
  • Lower loan amounts
  • Only offers short-term repayment plans

With Fundbox, you can borrow anywhere from $1,000 to $150,000 on a revolving line of credit. Loan repayment terms are much shorter with Fundbox than with other lenders. Repayment terms are either 12 or 24 weeks.

Over the years, Fundbox has loaned more than $3 billion to small businesses. Applying doesn't affect your credit score and you only need a credit score of 600 to qualify.

Loan Amounts Minimum Credit Score Loan Terms Process Time
$1,000 to $150,000 600 12 to 24 weeks 24 hours

Why we chose it

Fora Financial offers an easy application process, fast approval and quick funding. The company has an A+ rating with the Better Business Bureau, funds more than 35,000 companies and has distributed more than $3 billion in startup loans. They place no qualifications on how you use funds and allow you to spend the money when you need it.

  • No collateral required
  • Low minimum credit score required for approval
  • Prepayment discounts
  • Large loan amount range
  • High revenue requirements
  • Wire transfer and origination fees

Flexible loan terms, zero application fees and fast turnaround times make Fora an ideal option for business owners that worry about day-to-day funding. Fora places an emphasis on client relationships and borrowers have access to a loan specialist. Fora has no usage restrictions and no application fees. Once you pay off 60% of the original loan, Fora allows you to increase your borrowed amount with no collateral required. The company requires a minimum credit score of 600 for loan or credit line qualification, and terms range between six and 16 months. However, typically, the company works with businesses that have more than $12,000 a month in gross sales. That’s a tough nut for many startups to crack.

After application, approval takes anywhere from four to 24 hours. You receive funds within one to three business days of formal approval.

Fora only performs a soft inquiry credit check when you apply. A full check isn't conducted until after loan approval, so your credit isn't affected if you aren't approved.

Loan Amounts Minimum Credit Score Loan Terms Process Time
$5,000 to $1.4 million 600 6 to 16 months 3 business days

Why we chose it

Bluevine manages more than 216,000 small business loans totaling more than $10 billion. You can qualify with a fair credit score and there are no closing fees when you take out a loan with the company.

  • Low interest rates available to the most qualified borrowers
  • Fast approval
  • No termination fees or long-term contracts
  • Stricter requirements for approval
  • Same-day funding fee

For approval, you must operate in an eligible state. For businesses established for more than 24 months, Bluevine offers interest rates as low as 6.2%. (Startup loan rates can range as high as 28%.) Funds are available almost immediately and your credit limit changes as your business grows.

Bluevine offers startup business loans ranging from $5,000 to $250,000. You must have a minimum credit score of 625 to qualify. Loan repayment terms range from six to 12 months with payments made weekly or monthly.

The application process is easy and requires little documentation. If your business is in good standing, your loan could be approved in less than 24 hours.

Loan Amounts Minimum Credit Score Loan Terms Process Time
$5,000 to $250,000 625 6 to 12 months Same-day funding (with fee)

Why we chose it

Finance Factory is a loan marketplace helping users find lines of credit, business credit cards and personal loans for business purposes. Founded in 2011, Finance Factory has stellar reviews and an A+ rating from the Better Business Bureau.

  • No minimum time in business restrictions
  • Variety of funding products
  • Free funding range report with application
  • Higher interest rates once the introductory rate expires
  • Details change from lender to lender
  • Longer processing time

Finance Factory loans range from $5,000 to $1 million. You must have a minimum credit score of 600, although 700 is preferable. Repayment terms fall between two and five years. With Finance Factory, it's important to remember that your interest rate may look low up front, but you have no guarantee it will stay low once the introductory period ends.

There are no time-in-business or monthly revenue requirements, which makes Finance Factory an ideal choice for a brand-new business or one that doesn't have a lot of liquid assets or a lengthy earnings record. The company does require that your business have a minimum account balance to ensure you can cover your monthly payments. On average, Finance Factory loans become available in seven to 10 business days.

Loan Amounts Minimum Credit Score Loan Terms Process Time
$5,000 to $1 million 600 2 to 5 years 7 to 10 business days

Why we chose it

Lendio works with more than 75 lenders to provide a variety of lending options. Options include commercial mortgages, merchant cash advances, lines of credit, SBA loans, business loans, equipment financing, business acquisition loans and invoice factoring.

  • One application allows you to compare many lenders and products
  • Fast funding
  • Very low minimum credit score required for application
  • Loans match with a lender, so specific terms may not apply
  • Applications are paperwork heavy

With Lendio, you fill out one application and then receive offers from lenders that best fit your needs. Because Lendio matches you with a lender rather than loaning the money to you directly, your loan options are broader than if you were working with a smaller lender.

Lendio loans range from $500 to $5 million. You must have a credit score of 560 to qualify for a loan or line of credit through one of Lendio’a partners. That’s an exceedingly low bar to clear, but remember that borrowers with poor credit pay much higher interest rates. Repayment terms range from 1 to 25 years. Terms change depending on the loan and the lender. If you qualify for a business loan, you may receive funds in as few as 24 hours, depending on your choice of lender.

Since its founding, Lendio has funded more than 300,000 loans totaling more than $12 billion. The company supports entrepreneurs worldwide through the crowdfunding platform Kiva: For every dollar a Lendio employee donates to the crowd-funding platform Kiva, Lendio will match it.

One of the major benefits of Lendio is the ability to compare offers from multiple lenders and choose the type of loan or credit that matches your business. A funding expert works with you to determine which products might benefit you the most. To qualify for a loan, you must have a business bank account and operate in Canada or the United States. You must be in business for more than 12 months and have a six-month gross revenue average of $10,000.

Loan Amounts Minimum Credit Score Loan Terms Process Time
$500 to $5 million 560 1 to 25 years 24 hours

Why we chose it

Founded in 2008, Triton Capital designed its products around small- and medium-sized businesses. Triton offers quick approval and funding times and works with business owners who have subprime credit scores. Triton usually approves startup businesses that haven’t logged a lot of time in business but need to purchase equipment to get started.

  • Lower time-in business requirement
  • Fast approval and funding
  • Large loan amount range
  • Low interest rates not guaranteed
  • Personal guarantee or collateral required
  • High revenue requirement

Triton has been around for more than 15 years and provided businesses with more than $1 billion in financing. The company operates as a lender marketplace rather than a direct lender. It matches a business with the best lender in their marketplace for their specific needs, and the company has helped more than 300,000 businesses find funding solutions and quick access to cash.

Triton Capital provides loans as low as $10,000 and as high as $500,000. You must have a minimum credit score of 600 to qualify. Repayment terms range from three months to seven years.

Triton offers several lending options, including long-term business loans, business lines of credit, merchant cash advances and working capital loans. The company will approve or deny your loan within three hours. The application process is simple and same-day funding is possible.

Loan Amounts Minimum Credit Score Loan Terms Process Time
$10,000 to $500,000 600 3 months to 7 years As little as 3 hours

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Other companies we considered


Owned by National Funding, Quickbridge was established in 2011 and offers loans and lines of credit to business owners with low credit scores. Quickbridge focuses its service on the healthcare, restaurant, real estate and trucking industries.

Loan amounts go up to $500,000 and are usually funded within 24 hours. Quickbridge also offers an early payoff discount and short-term loans.

Why it didn't make the cut: Quickbridge has higher costs, lower equipment loan amounts and a high annual revenue requirement. This makes it hard for startups who haven't been in business for very long to qualify.


Kiva is an international nonprofit founded in San Francisco in 2005. The company focuses on entrepreneurs around the world who don't have access to loans or traditional funding. Kiva uses a crowdfunding model to provide zero-interest loans for small online businesses.

Over the years, Kiva has raised over $1 billion to help more than 2.5 million people. There is no credit check required to work with Kiva, so it’s a good option if your business has limited or poor credit but has grassroots support and high visibility. These loans work best for smaller amounts and short-term projects that improve a company's day-to-day operations.

Why it didn't make the cut: Kiva functions more as a crowdfunding platform to provide financing to businesses than a loan service. While you may receive donors that invest in your business, it can be an unreliable way to fund anything.


Credibly approves loans to those with credit scores as low as 550. Rather than relying strictly on credit scores, the company looks at data like bank statements, revenue and time in business for the application process. Loans may be funded in under 24 hours.

Credibly is a good option for those with short-term funding needs and high established revenue. The company also offers a discount if you pay your loans back earlier than the original set terms.

Why it didn't make the cut: Credibly has a high yearly revenue requirement, so businesses with expensive equipment they are paying off or other large upfront investments may not qualify. Meeting a monthly or yearly revenue requirement is difficult for many startups.

Midwest Corporate Credit

Midwest Corporate Credit loans are ideal if your business grows strong in the first two years. The company offers extremely low interest rates and high loan amounts with no collateral or personal guarantee.

Founded in 2010, the company funds over $250 million to small businesses. You can choose an interest-only payment, but you must have two years of business establishment. Midwest Corporate Credit doesn't report loans or payments to personal credit bureaus, so it's also a valuable way to separate your personal finances from your business finances.

Why it didn't make the cut: Midwest Corporate Credit requires that entrepreneurs be in business for at least two years before approving loans. This makes it hard for true startup companies to get funding.

Startup Business Loans Guide

Main things to know before choosing startup business loans

Before you choose from the best business loans for startups or the best banks for small business, we suggest you get familiar with the following:

  • If you default on a loan that requires a personal guarantee or collateral, you'll lose whatever you used to guarantee the loan, such as vehicles, inventory or property.
  • Some lenders fund their own loans while others match you up with a lender, and they can't always guarantee the terms.
  • Online lenders like the ones we reviewed fund faster and require less documentation than traditional bank loans.
  • There are a variety of loan options to choose from, including but not limited to working capital loans, traditional term loans, business lines of credit, merchant cash advances, invoice factoring and equipment loans.

Here is a list of some other popular types of startup business loans:

  • Microloans: Good for those with shaky finances, these often come from nonprofit lenders or microlenders, and the private lender sets the terms.
  • SBA loans: Developed by the federal government and easier to obtain than private business loans, SBA loans come through nonprofit community lenders and have strict requirements.
  • Grants: Available through government agencies and private foundations, grants aren't actually loans since you don't need to pay them back. The downside of grants is that they're competitive and can be difficult to get.

What are the average rates for startup business loans?

Interest rates vary based on repayment terms, loan amounts, your credit profile and the lender. The average rate for a startup business loan ranges between 10% and 28%.

What are the requirements for startup business loans?

To get a startup business loan, you generally need a personal credit score close to 600, some regular, documented revenue, and a good debt-to-asset ratio. Some lenders don't have any business establishment guidelines and provide funding to true startups. In any case, monthly revenue, time established and credit score requirements vary from lender to lender.

How to apply for a startup business loan

Before applying for a startup business loan, it’s essential that you improve your credit score (both personal and business when possible). Gather documentation such as expense projections, business licenses or registration and banking information, which will be required when you seek approval for a loan. Choose the lender that offers products that suit your business needs. Many lenders allow you to apply online or by phone, but you will need to submit written documentation no matter which application route you choose.

Startup Business Loans FAQs

Can I get a startup business loan with a bad credit score?


Startup business loans are available for those with low personal credit scores. These range from 300 to 850, and most lenders require a score of 600 or higher.

Business credit is also valuable. These scores range from zero to 100, and personal credit can replace business credit if you aren't established enough to have it.

How long does it take to get a startup business loan?


In some cases, lenders offer access to funding within the same day. Others require more time for approval and processing. At the most, your loan shouldn't take longer than 10 business days to complete.

How much money can I get for a startup business loan?


The size of loan you qualify for depends on the lender, your business revenue and your credit score. Some lenders cap borrowing amounts at a few hundred thousand dollars, while others let you borrow money into the millions.

Is it hard to get a startup business loan?


Getting a startup business loan can be a time-consuming process when you work through a traditional credit union or bank. Online business loans, on the other hand, may offer an easier application process and fast funding. In some cases, establishment rules require that you have a significant business track record (from several months to a couple of years) and you must show annual or monthly revenue. The ease with which you get a startup business loan varies, but online loans are typically simpler to get.

How We Found the Best Startup Business Loans

To evaluate the best startup business loan options, we looked at the following criteria:

Loan amounts

We researched how much money you can borrow from different lenders.

Minimum credit score

We determined what credit score you need to apply for loans from different companies.

Loan terms

We evaluated repayment terms for flexibility and favored lenders who offered a variety of terms. We also looked for companies that didn’t impose early payment penalties.

Processing time

We studied each company to discover how quickly you get access to a loan if you qualify.

Summary of the Best Startup Business Loans of 2023

Startup companies’ needs vary and the lending product you choose will be unique to your business. There is no one-size-fits-all loan type, so it's important to determine what matters most to you: low interest rates, flexible credit requirements, long repayment terms or fast funding.

A startup business line of credit or loan covers expenses like payroll, equipment, invoicing and emergencies. Applying through a bank can take weeks, while online loans offer quick access to cash. Evaluate your most crucial needs before choosing a lending company or a type of loan.

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