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Best Small Business Loans Of April 2024

Loans Writer,  Contributor
Lead Editor, Mortgages & Loans

Reviewed

Updated: Mar 28, 2024, 7:50am

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Small business loans are a source of funding business owners can use to operate and expand their companies. They can apply for these loans through traditional banks, credit unions and online lenders. Funds are typically disbursed as a lump-sum payment and repaid monthly unless otherwise stated by specific lenders.

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Why you can trust Forbes Advisor

Why you can trust Forbes Advisor: Our editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the loans methodology for the ratings below.

  • 25 lenders researched
  • 16 data points evaluated
  • 5 cateogires scored

Best Business Loans Of April 2024

Best for Short-term Loans

OnDeck

4.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Loan amounts

$5,000 to $250,000

APR range

Not disclosed

Minimum Credit Score

625

Learn More Arrow

Via Ondeck’s Website

$5,000 to $250,000

Not disclosed

625

Why We Picked It

We picked OnDeck because it offers lines of credit between $6,000 to $100,000 with short repayment terms of 12, 18 or 24 months. It also has a term loan of $5,000 to $250,000 with repayment terms of up to 24 months.

Pros & Cons
  • Term loans from $5,000 to $250,000; lines of credit from $6,000 to $100,000
  • Same-day funding
  • Low minimum credit score requirement
  • $100,000 minimum annual revenue requirement
  • Must have been operating for at least one year
  • Does not lend to businesses in Nevada, North Dakota or South Dakota

Details

Eligibility

  • Minimum credit score: 625
  • Time in business: One year
  • Minimum annual revenue: $100,000

Turnaround time

You can apply and receive a decision from OnDeck on the same day.

Best for Fast Funding

QuickBridge

4.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Loan amounts

$10,000 to $500,000

APR range

Factor rates start at 1.11

Minimum Credit Score

600

Learn More Arrow

On Quickbridge’s Website

$10,000 to $500,000

Factor rates start at 1.11

600

Why We Picked It

We picked QuickBridge because it can fund within 24 hours for qualifying borrowers with fair to excellent credit. The lender is especially attractive to business owners who need short-term loans with high loan amounts.

Pros & Cons
  • Flexible loan terms
  • Quick application and fast funding deposited to a bank account
  • Early payoff discounts
  • Origination fee
  • Loan interest may be high
  • $250,000 minimum annual revenue requirement for small business loans

Details

Eligibility

  • Minimum credit score: 560
  • Time in business: Six months
  • Monthly revenue: $50,000

Turnaround time

QuickBridge provides funding within 24 hours to well-qualified borrowers.

Best for Lines of Credit

American Express® Business Line of Credit

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Loan amounts

$2,000 to $250,000

APR range

N/A

Minimum Credit Score

All businesses are unique and are subject to approval and review. The required FICO score may be higher based on your relationship with American Express, credit history and other factors.

660 FICO at the time of application

Learn More Arrow

Via American Express’s Website

$2,000 to $250,000

N/A

All businesses are unique and are subject to approval and review. The required FICO score may be higher based on your relationship with American Express, credit history and other factors.

660 FICO at the time of application

Why We Picked It

We picked the American Express® Business Line of Credit because it allows business owners access to a range of line of credit options. Repayment terms include six, 12, 18 and 24 months.

All businesses are unique and are subject to approval and review.

Pros & Cons
  • Backed by American Express
  • No prepayment penalty
  • Monthly fees on unpaid balances
  • Requires personal guarantee

Details

Eligibility

  • Minimum credit score: 660 FICO at the time of application
  • Time in business: One year
  • Minimum monthly revenue: monthly revenue of at least $3,000

All businesses are unique and are subject to approval and review.

Turnaround time

Funds can take up to three business days to appear in your account, depending on your bank.

Best for Flexible Lines of Credit

Bluevine

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Loan amounts

$5,000 to $250,000

APR range

Not disclosed

Minimum Credit Score

625

Learn More Arrow

On Bluevine’s Website

$5,000 to $250,000

Not disclosed

625

Why We Picked It

We picked Bluevine for its line of credit which ranges from $5,000 to $250,000 and offers two flexible payment structures: Flex 6 or Flex 12.

Customers who choose Flex 6 make weekly payments over 26 weeks while Flex 12 customers make monthly payments over 12 months. After 45 days of payment on Flex 6, or 90 days of payment on Flex 12, you may be eligible for a credit line increase.

Pros & Cons
  • Can get a decision within five minutes and instant funding with a Bluevine business checking account.
  • Lines of credit up to $250,000
  • Low credit score requirement
  • No mobile app for its line of credit
  • Monthly revenue requirement
  • Not available to businesses in Nevada, North Dakota, South Dakota, Puerto Rico and other U.S. territories

Details

Eligibility

Eligibility varies on the specific program a business owner chooses.

Flex 6

  • Minimum credit score: 625
  • Time in business: At least two years
  • Minimum Revenue: $40,000 per month or $480,000 annually
  • Business type: Corporation or LLC
  • Bankruptcies: No past bankruptcies

Flex 12

  • Minimum credit score: 650
  • Time in business: At least three years
  • Minimum revenue: $80,000 per month or $960,000 annually
  • Business type: Corporation or LLC

Turnaround time

After you submit your application, you can receive a decision in as quickly as five minutes and instant funding with a Bluevine business checking account.

Best for Small to Midsized Businesses

National Funding

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Loan amounts

$10,000 to $500,000

APR range

Buy rates start at 1.11%

Minimum Credit Score

600

Learn More Arrow

On National Funding’s Website

$10,000 to $500,000

Buy rates start at 1.11%

600

Why We Picked It

We picked National Funding because it offers small to mid-sized business owners flexibility with small business loans from $10,000 to $500,000. The loans are available in terms of four months to two years, paid daily or weekly. National Funding also offers equipment financing up to Up to $150,000.

Pros & Cons
  • Financing up to $500,000
  • Early payoff discounts
  • Requires daily or weekly payments
  • Potentially high borrowing costs
  • Requires minimum gross annual sales of $250,000

Details

Eligibility

  • Minimum credit score: 600 (575 for equipment financing)
  • Time in business: Six months
  • Minimum annual revenue: $250,000

Turnaround time

Most loans are funded within 24 hours of approval, subject to receipt of required documentation, underwriting guidelines and processing time by your bank.

Best for Quick Approvals

Fundbox

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Loan amounts

$1,000 to $150,000

APR range

Start at 4.66%

Minimum Credit Score

600

Learn More Arrow

On Fundbox’s Website

$1,000 to $150,000

Start at 4.66%

600

Why We Picked It

We picked Fundbox for its turnaround speed, providing line of credit business loan decisions in just three minutes and next-business-day funding. It can fast-track the application, decision-making and funding process through its AI-powered lending platform.

Pros & Cons
  • Receive a decision within three minutes
  • Low minimum credit score requirement
  • Next-day funding
  • Only short-term repayment terms are available
  • Relatively low lines up credit of up to $150,000

Details

Eligibility

  • Minimum credit score: 600
  • Time in business: Three months
  • Minimum monthly revenue: $30,000

Turnaround time

If you’re getting a line of credit, your funds transfer to your bank account as soon as the next business day.

Best for Healthcare Professionals

TD Bank

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Loan amounts

$10,000 to $1 million

up to $5 million for small business loans

APR range

Not disclosed

Learn More Arrow

From participating partners via businessloans.com’s website.

$10,000 to $1 million

up to $5 million for small business loans

Not disclosed

Why We Picked It

We picked TD Bank business loans because of their offerings for healthcare professionals, including dentists, veterinarians, physicians and eye care professionals. TD Bank offers lending solutions up to $12 million with 100% practice financing plus working capital, in addition to partnership buy-ins and buy-outs, equipment purchases, and practice mergers and acquisitions.

Pros & Cons
  • Offers term loans, lines of credit and SBA loans
  • Online application and mobile banking
  • Customized financing options for healthcare professionals
  • Must apply in person for loans over $100,000
  • Branches located in only 16 states

Details

Eligibility

  • Minimum credit score: 660
  • Time in business: One year
  • Minimum annual revenue: Does not disclose

Turnaround time

Although TD Bank offers same-day approval for its business loans and lines of credit, it may take up to two business days to receive your funds. SBA loans, on the other hand, may take several weeks to fund.

Best for Established Businesses

Funding Circle

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Loan amounts

$25,000 to $500,000

APR range

As low as 7.49%

Minimum Credit Score

660

Learn More Arrow

From participating partners via businessloans.com’s website.

$25,000 to $500,000

As low as 7.49%

660

Why We Picked It

We picked Funding Circle because it offers fast funding for established businesses that have been operating for at least two years. The lender also offers a simple application process and funding in as little as 48 hours.

Pros & Cons
  • Loans from $25,000 to $500,000
  • Funding in as little as 48 hours
  • No minimum annual revenue requirement for most loans
  • One-time origination fee between 3.49% to 6.99% of the approved loan amount
  • Requires two years in business, so it’s not ideal for startups
  • Not available to Nevada businesses

Details

Eligibility

  • Minimum credit score: 660 (650 for SBA loans)
  • Time in business: Two years
  • Minimum annual revenue: $400,000 (for SBA loans only)

Turnaround time

Depending on the loan type, you can receive your funds within two days. However, SBA loan funding may take up to two weeks.

Best for Funding Options

Biz2Credit

4.0

4.0

Loan amounts

Up to $1M+

Varies depending on product and qualifications

APR range

Does not disclose

Minimum Credit Score

575*

*See website for details

Learn More Arrow

On Biz2credit’s Website

Up to $1M+

Varies depending on product and qualifications

Does not disclose

575*

*See website for details

Why We Picked It

We picked Biz2Credit for its product variety. To expand available options, it may present third-party options to qualified prospective borrowers in the event it cannot provide a financial product.

Pros & Cons
  • Less stringent qualification requirements for revenue-based financing
  • Quick online application, approval and funding process
  • Stricter qualification requirements for term loans
  • Revenue-based financing requires daily, weekly or bimonthly payments

Details

Eligibility

  • Minimum credit score: 575 for revenue-based financing; 650 for term loans
  • Time in business: Six months for revenue-based financing; 18 months for term loans
  • Minimum annual revenue: $250,000

Turnaround time

Approval and processing times for Biz2Credit funding vary by product type.

Summary: Best Small Business Loans Of April 2024

Company Forbes Advisor Rating Best For Loan amounts APR Minimum credit score Learn More
OnDeck 4.5 4.5-removebg-preview-1 Best for Short-term Loans $5,000 to $250,000 Not disclosed 625 Learn More Via Ondeck's Website
QuickBridge 4.5 4.5-removebg-preview-1 Best for Fast Funding $10,000 to $500,000 Factor rates start at 1.11 600 Learn More On Quickbridge's Website
American Express® Business Line of Credit 4.0 4-removebg-preview Best for Lines of Credit $2,000 to $250,000 N/A 660 FICO at the time of application Learn More Via American Express's Website
Bluevine 4.0 4-removebg-preview Best for Flexible Lines of Credit $5,000 to $250,000 Not disclosed 625 Learn More On BlueVine's Website
National Funding 4.0 4-removebg-preview Best for Small to Mid-Sized Business $10,000 to $500,000 Buy rates start at 1.11% 600 Learn More On National Funding's Website
Fundbox 4.0 4-removebg-preview Best for Quick Approvals $1,000 to $150,000 Start at 4.66% 600 View More On Fundbox's Website
TD Bank 4.0 4-removebg-preview Best for Healthcare Professionals $10,000 to $1 million Not disclosed 660 Learn More From participating partners via businessloans.com's website.
Funding Circle 4.0 4-removebg-preview Best for Established Business $25,000 to $500,000 As low as 7.49% 660 Learn More From participating partners via businessloans.com's website.
Biz2Credit 4.0 4-removebg-preview Best for Funding Options Up to $1M+ Does not disclose 575* Learn More On Biz2credit's Website
*See Website For Details

Tips for Comparing Small Business Loans

Consider these tips when comparing small business loans:

Where possible, prequalify.

Determine how you want to receive your funds.

Consider the repayment terms and flexibility.

Look out for additional fees.

Evaluate the lender’s customer support options.

Pro Tip

Read the fine print carefully and be aware of any hidden fees or penalties, such as prepayment fees or origination fees. These can add to the overall cost of the loan and impact your repayment plans.

Complete Guide to Small Business Loans

What Is a Small Business Loan?

A small business loan is a source of funding business owners can access to cover the costs associated with operation and growth. Like personal loans, business owners can get small business loans through traditional banks and credit unions as well as online lenders—including those backed by the U.S. Small Business Administration (SBA). Depending on the type of loan, you can use funds for everything from working capital and equipment acquisition to larger purchases like real estate.

How Do Small Business Loans Work?

Small business loans help companies make large purchases and cover the cost of doing business. Loans generally are issued as a lump sum that can be used to make a specific purchase or manage cash flow and then repaid with interest. However, there are other types of small business loans—like lines of credit, merchant cash advances and invoice financing—that can be used to access cash more quickly and on an as-needed basis.

The best loan for a business depends on a number of factors, including its creditworthiness, how much it needs to borrow, what the funds will be used for and how quickly it needs access to loan proceeds.

Read More: How Do Business Loans Work?

Common Types of Small Business Loans

In general, small business loans help businesses access the money they need to operate and grow. However, there are several types of small business loans, and it’s important to find the best fit for your needs.

SBA Loans

Term Loans

Lines of Credit

Invoice Factoring and Financing

Merchant Cash Advances

Equipment Financing

Commercial Real Estate Loans

Bank Loans

Find the Best Startup Business Loans of 2024

Pros and Cons of Small Business Loans

Pros of Small Business Loans

  • Provides funds you can use to start, grow or expand your business
  • Receive funding without losing equity
  • Repayment terms extend up to 25 years
  • Loan amounts up to $5 million

Cons of Small Business Loans

  • Most lenders require a personal guarantee or collateral
  • Lenders typically require a minimum credit score of 670
  • Approval and funding may take up to several weeks
  • May charge high interest rates and other processing fees

Best Place To Get a Business Loan

Small business loans are available from a variety of traditional banks and credit unions as well as online lenders. However, each lender is limited by its own financial products and lending requirements.

1. Banks & Credit Unions

2. Online Lenders

Related: Best Same-Day Business Loans

How To Get a Business Loan

How To Choose a Small Business Loan

Just as certain types of loans are more appropriate for certain businesses, some lenders may be better suited to your business than others. Consider these factors to choose a small business loan:

  • Lender reputation. Check online reviews so you’re aware of any red flags or potential issues before you sign on the dotted line. If you plan to work with a local bank or credit union, check with other local business owners to see which institutions have the best reputation.
  • Qualification requirements. Most small business loans are underwritten based on the business owner’s personal credit score and are personally guaranteed. The minimum credit score required to qualify for a small business loan depends on the lender and the type of loan. So, it’s generally a good idea to check your personal credit score and then research each lender to compare minimum credit score requirements.
  • Available loan amounts. Loan amounts vary by lender and loan type. Before choosing a small business lender, evaluate your business’ borrowing needs and shop for a loan that fits those parameters.
  • Underwriting and funding speed. The amount of time it takes to process an application and receive funds varies widely by lender and loan type. In general, it can take anywhere from a couple of days (in the case of a merchant cash advance) to several months (for an SBA loan) to receive funds after submitting an application. If you need a loan quickly, choose a loan type and lender that can meet those time constraints.
  • Annual percentage rate. APRs also vary by loan type and lender, but generally range anywhere from 5% to 99%. The most creditworthy applicants qualify for the lowest rates, but some lenders are more competitive than others.
  • Additional costs. Many lenders charge origination fees that cover the costs of processing applications and underwriting loans. Likewise, some lenders charge prepayment penalties for borrowers who opt to pay off their loans early, while others charge draw fees on lines of credit. However, borrowers should not be charged application fees, and any fees levied prior to loan approval are a red flag.

How To Qualify for a Business Loan

The requirements for small business loans can vary by lender. But in general, lenders may review the following information to approve you for a loan:

  • Personal credit. You may be able to qualify for a business loan with a credit score as low as 500. However, a good score of at least 670 could give you a better shot at getting approved for a competitive rate.
  • Time in business. Lenders typically require that you be in business for at least six months to two years to qualify for a loan.
  • Business checking accounts. Lenders may require that you have a business checking account with several months of transactions to show cash flow.
  • Business revenue. Most lenders require that you have between $100,000 to $250,000 annual business revenue to qualify.
Pro Tip

Having limited business credit history doesn’t necessarily mean you can’t get approved for a business loan. Lenders may look at personal credit to determine if you qualify for business financing, and having strong personal credit could help you get approved.

How To Get a Small Business Loan in 5 Steps

The business loan application and underwriting process varies by lender, but most banks and lenders follow the same general guidelines. To get a small business loan, expect to follow these general steps:

  1. Determine the type of loan you need. Some lenders limit what industries they’ll finance or how loan funds may be used, so determine how you’ll use the cash before applying for a loan. Also evaluate how much you need to borrow, as this may impact the type of loan you apply for and the best lenders to approach for funds.
  2. Familiarize yourself with your credit profile. Lenders typically look at a business owner’s personal credit score when evaluating a loan application. You should have a score of at least 680 to qualify for an SBA loan or a traditional bank loan, and 630 for equipment financing or business lines of credit. Short-term financing and merchant cash advances typically have less stringent requirements—averaging around 600 and 550, respectively.
  3. Research lenders. When shopping for a small business loan, determine whether your current bank offers small business loans that meet your needs. This can streamline the application process because the bank will already have your financial information on file. Next, research other banks, credit unions and online lenders to compare available loan amounts, repayment terms and rates.
  4. Gather required documentation. Required documentation varies by lender. However, most lending institutions require a business plan, at least 12 months of personal and business bank statements, tax returns for at least two years and details about any current and past business loans. Lenders also require copies of applicable business licenses and legal documents, details about available collateral and a description of how loan proceeds will be used.
  5. Submit a formal loan application. Once you research the best small business loans and prepare your business for due diligence, submit a formal loan application. The process varies by lender, so familiarize yourself with the application process and contact customer service with questions.

How To Get a Business Loan With Bad Credit

It can be tough to qualify for a business loan with bad or limited credit. If possible, giving your business time to become more established can make qualifying for a loan easier.

If you can’t wait, start by looking for online lenders as they can have more flexible qualification requirements. Nonprofits that focus on microloans can also be an option to fund a new business venture.

Lastly, business partners that are willing to invest in your business or co-sign on a loan can be another option to fund your business.

Alternatives to Small Business Loans

If a small business loan doesn’t seem right for your specific needs, consider other options to get the financing your business needs.

Business Line of Credit

Business Credit Card

Crowdfunding

Personal Loans for Business

Small Business Grants

Business Loan Statistics Survey

Forbes Advisor surveyed 500 Americans who have applied for a business loan to get insights into which loans businesses are applying for and how the funds are being used. The survey found that business owners seek out a wide range of business loans, with term loans and lines of credit being the most popular options.

Types of Financing Businesses Are Applying For

Businesses have a wide range of financing options, each of which can best serve different financial needs. Over the past five years, 49% of businesses that applied for financing applied for an SBA loan and 48% applied for a business line of credit.

Traditional business loans, including those from online lenders and banks, were the third and fourth most popular options, with 40% and 30% of businesses applying for them, respectively. 

Business Financing Type Percent
SBA Loan
49%
Business Line of Credit
48%
Online Business Loans
40%
Bank Business Loans
30%
Equipment Financing
23%
Inventory Financing
17%
Merchant Cash Advance
16%
Commercial Real Estate Loan
15%
Invoice Factoring
10%
Other
2%

How Business Loan Funds Are Used

In most cases, business financing doesn’t restrict how funding can be used if it’s business-related. With their most recent loan, 32% of businesses used the funds on equipment purchases, while 26% allocated their funds toward startup costs.

Primary Fund Use Percent
Equipment Purchases
32%
Startup Costs
26%
Everyday Operations
24%
Business Expansion
24%
Inventory Purchases
24%
Marketing
18%
Business Acquisitions
11%
Business Franchising
10%
Debt Consolidation/Refinancing
10%
Commercial Real Estate Purchase
8%
Other
13%
Prefer Not To Say
3%

Survey Methodology

This online survey of 500 Americans who have applied for a business loan in the past was commissioned by Forbes Advisor and conducted by market research company OnePoll, in accordance with the Market Research Society’s code of conduct. Data was collected from January 12 to 19, 2024. The margin of error is +/- 4.4 points with 95% confidence. This survey was overseen by the OnePoll research team, which is a member of the MRS and has corporate membership with the American Association for Public Opinion Research (AAPOR). For a complete survey methodology, including geographic and demographic sample sizes, contact pr@forberadvisor.com.

Methodology

We reviewed 25 popular lenders based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the nine best lenders based on the weighting assigned to each category:

  • Loan cost: 35%
  • Loan details: 25%
  • Customer experience: 20%
  • Eligibility and accessibility: 10%
  • Application process: 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms and applicable fees. We also looked at minimum credit score and time in business requirements and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like online applications, prequalification options and mobile apps.

Where appropriate, we awarded partial points depending on how well a lender met each criterion.

To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.

Frequently Asked Questions (FAQs)

Can you get a small business loan with bad credit?

As with personal loans, it’s possible to get a small business loan with bad credit—scores as low as 580. However, you’ll have to demonstrate strong cash flow, and banks are more likely to require collateral to reduce the risk of lending.

Small business borrowers with bad credit also qualify for less competitive rates and pay more in interest over the life of the loan.  If possible, giving your business time to become more established can make qualifying for an affordable loan easier.

What credit score is needed for a small business loan?

Traditional banks generally prefer a credit score of around 700 or higher for a small business loan. However, online lenders and credit unions might consider scores as low as 500. The specific requirements can vary significantly depending on the lender and your financial history.

What can you do if you’re denied a small business loan?

There are a number of steps you can take if you’re denied a small business loan. First, try to find out why your application was denied. If your SBA loan application is denied, you’re entitled to a notice of denial that details the reasons; you may receive this directly from the SBA or from your lender.

If, instead, you are denied a small business loan through an online lender or other financial institution, contact them to find out why you were not approved. They may be able to provide insight into how to improve your future approval odds.

Once you know why your loan application was rejected, take steps to rectify the underlying issues. For example, you may need to improve your credit score, establish more consistent sales or reassess the amount you need to borrow.

How hard is it to get a small business loan?

Getting a small business loan may prove more challenging than other financing options like business credit cards. Although qualification requirements vary by lender, most lenders typically look at the business owner’s personal credit score and the business’ annual revenue. Many lenders require a minimum personal credit score of 600 to 660 and annual revenue between $100,000 and $250,000.

We recommend confirming the qualification requirements with your preferred lender before applying.

What is the easiest way to get a small business loan?

The easiest way to get a small business loan may be through online lenders instead of traditional banks because borrower requirements may be more flexible. With an online lender, you may be able to quickly prequalify and get funding as soon as the same business day as long as you meet eligibility requirements.

How much income do you need to get a business loan?

Typically, lenders require businesses to have an annual revenue of between $100,000 and $250,000. If your business makes less than that, there are business loans for low-revenue companies that may offer funding options for your business.

    Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.

    Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
    Kiah Treece
    Loans Writer

    Kiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their finances. She has also been featured by Investopedia, Los Angeles Times, Money.com and other financial publications.

    Lindsay VanSomeren is a personal finance writer based out of Kirkland, Washington. Her work has appeared on Business Insider, Credit Karma, LendingTree, and more.

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