{"id":4551,"date":"2024-10-07T00:49:32","date_gmt":"2024-10-07T00:49:32","guid":{"rendered":"https:\/\/smartspending.ai\/best-small-business-lenders-ss\/"},"modified":"2024-10-07T14:27:15","modified_gmt":"2024-10-07T14:27:15","slug":"best-small-business-lenders-ss","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=4551","title":{"rendered":"Best Small-Business Lenders &#8211; SS"},"content":{"rendered":"<div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Small-business lenders can be traditional financial institutions, such as banks or credit unions, government agencies, nonprofit organizations or online fintech companies. Individual lenders vary in the types of <\/span><span class=\"_28z5Fp _3-to_p\">small-business loans<\/span><span class=\"_28z5Fp _3-to_p\"> they provide, as well as their application processes and eligibility criteria for borrowers. The best small-business lender offers the products you need, has requirements you can meet and charges affordable interest rates and fees.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Learn about each of your lender options below, and compare some of the top loan products from SS\u2019s highest-rated small-business lenders.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<div class=\"_3wlVa6 _2247K8 _2_3eV4 ebRntp _3OUOFj\">\n<div class=\"_3wlVa6 _2247K8 _2_3eV4 _2xadhC\"><span class=\"_3VmbAf _28z5Fp _30Elz0\" aria-expanded=\"false\" role=\"button\" tabindex=\"0\"><\/p>\n<div class=\"_3wlVa6 _2247K8 PIqV0k _1hjp6k _2lZbKL _2vcpA4 _1TDqyw va-3n-\">\n<p><span class=\"_3VmbAf _28z5Fp _3-to_p\">What is a small-business lender?<\/span><\/p>\n<p><svg viewbox=\"0 0 16 16\" aria-hidden=\"true\" class=\"_2VV_pT _3wDFNi _2ulGkX\" fill=\"currentcolor\" focusable=\"false\" style=\"font-size:1.3em;min-width:1em\"><path d=\"M7.557 10.854a.5.5 0 00.707 0l4.59-4.59a.5.5 0 00-.708-.707l-4.239 4.24-4.244-4.245a.498.498 0 10-.704.704l4.598 4.598z\"><\/path><\/svg><\/div>\n<p><\/span><\/p>\n<div class=\"ReactCollapse--collapse\" style=\"overflow:hidden;height:0\">\n<div class=\"ReactCollapse--content\">\n<div class=\"_3wlVa6 _2247K8 SzYNMH\">\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">A small-business lender is a third-party entity that loans your company money under an agreement that it will be repaid. These lenders are typically banks, credit unions or nonbank lending institutions that offer financing products that are specifically marketed and tailored toward the needs and circumstances of small businesses.<\/span><\/p>\n<\/div>\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Although the over 34 million small businesses in the United States <\/span><button type=\"button\" aria-expanded=\"false\" aria-controls=\"nw-aria-ssr-10-2-1-1-1\" aria-haspopup=\"dialog\" data-currency=\"PopoverDisclosure\" class=\"_19GC0z\"><span class=\"_1Z-QXc\" aria-hidden=\"true\"><\/span><span class=\"_21EZtY _28z5Fp _2JIHTU vLzrnO\" data-currency=\"Link\" target=\"_self\"><sup>[0]<\/sup><\/span><\/button><span id=\"nw-aria-ssr-10-2-1-1-1\" hidden=\"\" style=\"display:none;position:fixed;left:100%;top:100%\" role=\"dialog\" tabindex=\"0\" data-dialog=\"true\" class=\"_2Dnq6l\"><span style=\"font-size:30px;width:1em;height:1em;pointer-events:none;bottom:100%\" class=\"_3extVD _3iD5Ia\" aria-hidden=\"true\"><\/span><\/span><span class=\"_28z5Fp _3-to_p\"> are considered to be important drivers of the economy, they can face barriers to funding and resources that larger companies don\u2019t experience. They may, therefore, receive specialized resources and opportunities like government contracts, grants, mentorship, training and tailored loan programs.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"_3VJt4n\">\n<div>\n<div>\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<div>\n<div class=\"_2uEIe_ PIqV0k wnPEbn _28CJ7N _2_Pyfm _3Oxhw4 _1p_Xo- _22JAjp _2R3hDK _1TDqyw _4p0D4F\">\n<div class=\"_1jMsGa _22JAjp SzYNMH _2t1Zmv _1JCAFq _1Abzjm\">\n<p class=\"_28z5Fp _2alH6V\">We\u2019ll start with a brief questionnaire to better understand the unique needs of your business.<\/p>\n<p class=\"_28z5Fp _2alH6V\">Once we uncover your personalized matches, our team will consult you on the process moving forward.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"_3VJt4n\">\n<div class=\"_3wlVa6 _2247K8 _2_3eV4 ebRntp l6ELS5\">\n<div class=\"_3wlVa6 _2247K8 _2_3eV4 _2xadhC\"><span class=\"_3VmbAf _28z5Fp _30Elz0\" aria-expanded=\"false\" role=\"button\" tabindex=\"0\"><\/span><\/p>\n<div class=\"ReactCollapse--collapse\" style=\"overflow:hidden;height:0\">\n<div class=\"ReactCollapse--content\">\n<div class=\"_3wlVa6 _2247K8 SzYNMH\">\n<div class=\"_28CJ7N _1voSX6 oE4ByK\">\n<div class=\"vRhsJJ\">\n<div class=\"PIqV0k vRhsJJ\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"21\" viewbox=\"0 0 20 21\" fill=\"none\" style=\"margin-top:2px;margin-right:0.5rem;min-width:20px;min-height:20px\"><path d=\"M9.99984 1.72119C5.39984 1.72119 1.6665 5.45452 1.6665 10.0545C1.6665 14.6545 5.39984 18.3879 9.99984 18.3879C14.5998 18.3879 18.3332 14.6545 18.3332 10.0545C18.3332 5.45452 14.5998 1.72119 9.99984 1.72119ZM8.33317 14.2212L4.1665 10.0545L5.3415 8.87953L8.33317 11.8629L14.6582 5.53786L15.8332 6.72119L8.33317 14.2212Z\" fill=\"#008254\"><\/path><\/svg> <\/p>\n<div class=\"HJYkLP\">\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">250+ small-business products<\/span><\/span><span class=\"_28z5Fp _3-to_p\"> reviewed and rated by our team of experts.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"vRhsJJ\">\n<div class=\"PIqV0k vRhsJJ\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"21\" viewbox=\"0 0 20 21\" fill=\"none\" style=\"margin-top:2px;margin-right:0.5rem;min-width:20px;min-height:20px\"><path d=\"M9.99984 1.72119C5.39984 1.72119 1.6665 5.45452 1.6665 10.0545C1.6665 14.6545 5.39984 18.3879 9.99984 18.3879C14.5998 18.3879 18.3332 14.6545 18.3332 10.0545C18.3332 5.45452 14.5998 1.72119 9.99984 1.72119ZM8.33317 14.2212L4.1665 10.0545L5.3415 8.87953L8.33317 11.8629L14.6582 5.53786L15.8332 6.72119L8.33317 14.2212Z\" fill=\"#008254\"><\/path><\/svg> <\/p>\n<div class=\"HJYkLP\">\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">95+ years<\/span><\/span><span class=\"_28z5Fp _3-to_p\"> of combined experience covering small-business and personal finance.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"vRhsJJ\">\n<div class=\"PIqV0k vRhsJJ\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"21\" viewbox=\"0 0 20 21\" fill=\"none\" style=\"margin-top:2px;margin-right:0.5rem;min-width:20px;min-height:20px\"><path d=\"M9.99984 1.72119C5.39984 1.72119 1.6665 5.45452 1.6665 10.0545C1.6665 14.6545 5.39984 18.3879 9.99984 18.3879C14.5998 18.3879 18.3332 14.6545 18.3332 10.0545C18.3332 5.45452 14.5998 1.72119 9.99984 1.72119ZM8.33317 14.2212L4.1665 10.0545L5.3415 8.87953L8.33317 11.8629L14.6582 5.53786L15.8332 6.72119L8.33317 14.2212Z\" fill=\"#008254\"><\/path><\/svg> <\/p>\n<div class=\"HJYkLP\">\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">50+ categories<\/span><\/span><span class=\"_28z5Fp _3-to_p\"> of best business loan selections.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">SS&#8217;s small-business loans content, including ratings, recommendations and reviews, is overseen by a team of writers and editors who specialize in business lending. Their work has appeared in The Associated Press, The Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows SS&#8217;s strict guidelines for <\/span><span class=\"_28z5Fp _3-to_p\">editorial integrity<\/span><span class=\"_28z5Fp _3-to_p\"> to ensure accuracy and fairness in our coverage.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"_3VJt4n\">\n<h2 class=\"_3P4ktl zeCuXk _28z5Fp _1My7YX\" data-currency=\"Text\"><span class=\"_3P4ktl zeCuXk _28z5Fp _3-to_p\">Government small-business lenders<\/span><\/h2>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">The federal government doesn\u2019t usually lend to small-business owners directly. However, it does guarantee financing issued through the SBA loan program. SBA loans are funded by participating lenders \u2014 typically banks and credit unions \u2014 and backed by the U.S. Small Business Administration.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Many national, regional and local banks are <\/span><span class=\"_28z5Fp _3-to_p\">SBA lenders<\/span><span class=\"_28z5Fp _3-to_p\">, including big-name institutions like Chase and Bank of America. Some lenders, like BayFirst Financial, even offer their own specialized SBA lending programs. BayFirst&#8217;s <\/span><span class=\"_28z5Fp _3-to_p\">SBA Bolt loan<\/span><span class=\"_28z5Fp _3-to_p\">, for example, can fund faster than other 7(a) loans. The SBA website also has a lender match tool to help you find the best SBA lender for you.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">SBA loans offer long terms, low interest rates and can be used for a variety of purposes. To <\/span><span class=\"_28z5Fp _3-to_p\">qualify for an SBA loan<\/span><span class=\"_28z5Fp _3-to_p\">, you\u2019ll need good credit and financials, as well as a few years in business.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<h2 class=\"_3P4ktl zeCuXk _28z5Fp _1My7YX\" data-currency=\"Text\"><span class=\"_3P4ktl zeCuXk _28z5Fp _3-to_p\">Credit union and bank small-business lenders<\/span><\/h2>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Banks and credit unions offer some of the most affordable small-business loans, but these lenders also have lengthy application processes and strict <\/span><span class=\"_28z5Fp _3-to_p\">eligibility requirements<\/span><span class=\"_28z5Fp _3-to_p\">. You\u2019ll likely need strong credit, two or more years in business and solid revenue to qualify for a loan from one of these small-business lenders.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Borrowers report higher rates of approval, as well as greater overall satisfaction, with small banks compared with large, national banks \u2014 according to a Federal Reserve survey released in 2024 <\/span><button type=\"button\" aria-expanded=\"false\" aria-controls=\"nw-aria-ssr-10-12-1\" aria-haspopup=\"dialog\" data-currency=\"PopoverDisclosure\" class=\"_19GC0z\"><span class=\"_1Z-QXc\" aria-hidden=\"true\"><\/span><span class=\"_21EZtY _28z5Fp _2JIHTU vLzrnO\" data-currency=\"Link\" target=\"_self\"><sup>[0]<\/sup><\/span><\/button><span id=\"nw-aria-ssr-10-12-1\" hidden=\"\" style=\"display:none;position:fixed;left:100%;top:100%\" role=\"dialog\" tabindex=\"0\" data-dialog=\"true\" class=\"_2Dnq6l\"><span style=\"font-size:30px;width:1em;height:1em;pointer-events:none;bottom:100%\" class=\"_3extVD _3iD5Ia\" aria-hidden=\"true\"><\/span><\/span><span class=\"_28z5Fp _3-to_p\">.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">If you have an existing relationship with a local bank or credit union, you might contact a representative to find out if it offers <\/span><span class=\"_28z5Fp _3-to_p\">small-business financing<\/span><span class=\"_28z5Fp _3-to_p\">.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">We rate several of Bank of America\u2019s loan products at 4+ stars. The bank offers a wide range of financing options, including both secured and <\/span><span class=\"_28z5Fp _3-to_p\">unsecured term loans<\/span><span class=\"_28z5Fp _3-to_p\"> and business lines of credit as well as equipment loans. Some of its loans come without an <\/span><span class=\"_28z5Fp _3-to_p\">origination fee<\/span><span class=\"_28z5Fp _3-to_p\"> and without the need to put up collateral. <\/span><span class=\"_28z5Fp _3-to_p\">Bank of America<\/span><span class=\"_28z5Fp _3-to_p\"> also reports to the major credit bureaus, which means making on-time loan payments helps you build your <\/span><span class=\"_28z5Fp _3-to_p\">business credit score<\/span><span class=\"_28z5Fp _3-to_p\">. <\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">As with most bank or <\/span><span class=\"_28z5Fp _3-to_p\">credit union business loans<\/span><span class=\"_28z5Fp _3-to_p\">, however, it may take up to several weeks to receive funding for a Bank of America loan.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">SS awards high marks also to Wells Fargo\u2019s <\/span><span class=\"_28z5Fp _3-to_p\">business line of credit<\/span><span class=\"_28z5Fp _3-to_p\"> products. Like Bank of America, <\/span><span class=\"_28z5Fp _3-to_p\">Wells Fargo<\/span><span class=\"_28z5Fp _3-to_p\"> reports to the credit bureaus. But unlike Bank of America, Wells Fargo doesn\u2019t charge you a fee for paying off your loan early, also known as a prepayment penalty. With this bank\u2019s line of credit products, you make monthly payments \u2014 rather than daily or weekly \u2014 which is often a more manageable repayment schedule for a business.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Wells Fargo does, like many small-business lenders, file a <\/span><span class=\"_28z5Fp _3-to_p\">UCC lien<\/span><span class=\"_28z5Fp _3-to_p\">, which grants the lender the right to seize assets you\u2019ve pledged as collateral in the event that you <\/span><span class=\"_28z5Fp _3-to_p\">default on your loan<\/span><span class=\"_28z5Fp _3-to_p\">.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<h2 class=\"_3P4ktl zeCuXk _28z5Fp _1My7YX\" data-currency=\"Text\"><span class=\"_3P4ktl zeCuXk _28z5Fp _3-to_p\">Online small-business lenders<\/span><\/h2>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Online business lenders can offer a variety of financing options with a streamlined application process. Online lenders are known for their fast access to capital \u2014 some companies even offer <\/span><span class=\"_28z5Fp _3-to_p\">same-day business loans<\/span><span class=\"_28z5Fp _3-to_p\"> with funding in as little as 24 hours.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Compared with banks and credit unions, online or <\/span><span class=\"_28z5Fp _3-to_p\">private business lenders<\/span><span class=\"_28z5Fp _3-to_p\"> have more flexible qualification requirements, but the cost of borrowing is often higher.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Bluevine<\/span><span class=\"_28z5Fp _3-to_p\"> is our highest-rated online lender. It offers a short-term business line of credit of up to $250,000, with either six- or 12-month repayment terms. This lender reports to credit bureaus; is transparent with its loan terms, requirements and fees; and can fund your account within just a few days. Bluevine will do all this absent an origination fee, without charging a prepayment penalty and with no collateral required.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">OnDeck<\/span><span class=\"_28z5Fp _3-to_p\"> is our highest-rated online term loan, and this lender also offers a business line of credit (which SS rates <\/span><span class=\"_28z5Fp _3-to_p\">5<\/span><span class=\"_28z5Fp _3-to_p\"> stars).\u00a0 OnDeck can fund loans up to a maximum of $250,000, sometimes within the same business day. With qualification requirements of one year in business and $100,000 in annual revenue, OnDeck is a strong option for newer businesses. (If you haven\u2019t yet hit that level for annual revenue, consider <\/span><span class=\"_28z5Fp _3-to_p\">Funding Circle<\/span><span class=\"_28z5Fp _3-to_p\">, which requires a slightly higher FICO score and two years in business but only $50,000 in annual revenue to qualify for its term loan.) OnDeck does require a business lien for its term loan.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">While we rate a few other online lenders a bit higher than <\/span><span class=\"_28z5Fp _3-to_p\">Fora Financial<\/span><span class=\"_28z5Fp _3-to_p\">, which receives <\/span><span class=\"_28z5Fp _3-to_p\">4.5<\/span><span class=\"_28z5Fp _3-to_p\"> stars, we recommend this lender particularly for its more widely accessible minimum credit score (<\/span><span class=\"_28z5Fp _3-to_p\">570<\/span><span class=\"_28z5Fp _3-to_p\">) and time in business (<\/span><span class=\"_28z5Fp _3-to_p\">6<\/span><span class=\"_28z5Fp _3-to_p\"> months) requirements along with its generous maximum loan amount of $1,500,000. This lender doesn\u2019t require collateral and doesn\u2019t penalize you for paying off your loan early. In fact, Fora may offer you a prepayment discount. But because the lender uses <\/span><span class=\"_28z5Fp _3-to_p\">factor rates<\/span><span class=\"_28z5Fp _3-to_p\"> instead of APR, it\u2019s difficult to compare the total cost of this loan with others.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">AltLINE<\/span><span class=\"_28z5Fp _3-to_p\">, part of the Southern Bank Company, offers its <\/span><span class=\"_28z5Fp _3-to_p\">invoice factoring<\/span><span class=\"_28z5Fp _3-to_p\"> services to business-to-business companies with outstanding invoices in their accounts receivable. This lender doesn\u2019t have the typical qualification requirements for a business loan because it focuses instead on the creditworthiness of the customers you invoice. While this type of financing won\u2019t help you build business credit, it can provide you fast funding without the need for physical collateral (the outstanding invoices serve as collateral). AltLINE generally provides funding within two business days.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">For <\/span><span class=\"_28z5Fp _3-to_p\">equipment financing<\/span><span class=\"_28z5Fp _3-to_p\">, JR Capital offers fast funding (within 48 hours) of up to $10 million at a comparatively reasonable interest rate \u2014 while some online lenders have APRs that can reach as high as 99%, JR Capital\u2019s range caps out at 18%. This lender also has some flexible payment options available for certain industries, including annual payments for farming. Certain borrowers may be eligible to prepay on their equipment loan without a penalty. You will pay an origination fee, though.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<h2 class=\"_3P4ktl zeCuXk _28z5Fp _1My7YX\" data-currency=\"Text\"><span class=\"_3P4ktl zeCuXk _28z5Fp _3-to_p\">Nonprofit and microlenders<\/span><\/h2>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Many nonprofit lenders are also <\/span><span class=\"_28z5Fp _3-to_p\">community development financial institutions (CDFIs)<\/span><span class=\"_28z5Fp _3-to_p\">, which are registered through the U.S. Treasury Department to build wealth in underserved areas through loan dollars and other resources. These organizations typically provide smaller loans \u2014 called microloans \u2014 but may be more willing to work with newer businesses or those with bad credit.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">As part of the <\/span><span class=\"_28z5Fp _3-to_p\">SBA microloan program<\/span><span class=\"_28z5Fp _3-to_p\">, for instance, the government distributes funds directly to these types of lenders. The lenders are then able to create and manage their own programs.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Most microloans max out at $50,000, but <\/span><span class=\"_28z5Fp _3-to_p\">Accion Opportunity Fund\u2019<\/span><span class=\"_28z5Fp _3-to_p\">s working capital loan can reach up to $250,000, and the lender will accept borrowers with a FICO score as low as <\/span><span class=\"_28z5Fp _3-to_p\">570<\/span><span class=\"_28z5Fp _3-to_p\">. According to Accion, more than 90% of its borrower base is made up of women, people of color and\/or low- to-moderate\u2013income borrowers. Accion dedicates its services to uplifting small businesses in traditionally disadvantaged communities and offers coaching and other resources to empower small-business owners.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<h2 class=\"_3P4ktl zeCuXk _28z5Fp _1My7YX\" data-currency=\"Text\"><span class=\"_3P4ktl zeCuXk _28z5Fp _3-to_p\">How to choose a small-business lender<\/span><\/h2>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">You\u2019ll want to consider several factors when choosing a small-business lender. But ultimately, there are trade-offs between banks, online lenders and other options, depending on what\u2019s most important to you.<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<div>\n<div class=\"_1cuN9-\">\n<div class=\"_2pPuG4\">\n<div vocab=\"https:\/\/schema.org\/\" typeof=\"Table\"><meta property=\"about\" content=\"Table 16176\"><\/p>\n<table class=\"_2IadDu mKU3h6\" aria-label=\"Table 16176\" tabindex=\"0\">\n<thead>\n<tr class=\"_12EOjr\">\n<th class=\"_1jMSHL\" scope=\"col\"><span class=\"_1xUXE0 _3p3gSd\"><\/span><\/th>\n<th class=\"_1jMSHL\" scope=\"col\"><span class=\"_1xUXE0 _3p3gSd\"><\/p>\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">The best small-business lender<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<p><\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr class=\"_3JPvLN\">\n<td class=\"_1ieTZs\"><\/td>\n<td class=\"_1ieTZs\">\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">A <\/span><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">bank<\/span><\/span><span class=\"_28z5Fp _3-to_p\"> will likely offer the <\/span><span class=\"_28z5Fp _3-to_p\">lowest interest rates<\/span><span class=\"_28z5Fp _3-to_p\"> (though you\u2019ll need to be able to meet tough financial qualifications). Banks can also offer a variety of <\/span><span class=\"_28z5Fp _3-to_p\">types of business loans<\/span><span class=\"_28z5Fp _3-to_p\">, as well as longer terms than some online lenders.<\/span><\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr class=\"_3JPvLN _12EOjr\">\n<td class=\"_1ieTZs _12EOjr\">\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">Can\u2019t qualify with a bank<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/td>\n<td class=\"_1ieTZs _12EOjr\">\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Start with the <\/span><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">SBA loan program<\/span><\/span><span class=\"_28z5Fp _3-to_p\">. <\/span><span class=\"_28z5Fp _3-to_p\">SBA loans<\/span><span class=\"_28z5Fp _3-to_p\"> have competitive rates and long terms, and eligibility criteria can be a little more flexible than bank requirements. However, you\u2019ll still need good credit and strong revenue to qualify, and the application process can be complex \u2014 so online business lenders are an alternative option.<\/span><\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr class=\"_3JPvLN\">\n<td class=\"_1ieTZs\"><\/td>\n<td class=\"_1ieTZs\">\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">Online lenders<\/span><\/span><span class=\"_28z5Fp _3-to_p\"> will be your top option. Some online lenders can offer funding in as little as 24 hours \u2014 although speed can come at a cost of <\/span><span class=\"_28z5Fp _3-to_p\">higher interest rates<\/span><span class=\"_28z5Fp _3-to_p\">.<\/span><\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr class=\"_3JPvLN _12EOjr\">\n<td class=\"_1ieTZs _12EOjr\">\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">Customer service is a priority<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/td>\n<td class=\"_1ieTZs _12EOjr\">\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Although a variety of lenders have representatives to help you through the application process, small-business borrowers report having a higher level of overall satisfaction with <\/span><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">credit unions and community banks<\/span><\/span><span class=\"_28z5Fp _3-to_p\">, according to a 2024 report by the Federal Reserve Banks.<\/span><\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr class=\"_3JPvLN\">\n<td class=\"_1ieTZs\">\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">New business or bad credit<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/td>\n<td class=\"_1ieTZs\">\n<div class=\"_3wlVa6 _2247K8 _3eCw6n\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">Some online lenders, as well as <\/span><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">nonprofit lenders<\/span><\/span><span class=\"_28z5Fp _3-to_p\">, may have more flexible requirements that can accommodate newer businesses or those with bad credit. These businesses may also consider alternative types of funding, such as <\/span><span class=\"_28z5Fp _3-to_p\">small-business grants<\/span><span class=\"_28z5Fp _3-to_p\">.<\/span><\/p>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"_3VJt4n\">\n<h2 class=\"_3P4ktl zeCuXk _28z5Fp _1My7YX\" data-currency=\"Text\"><span class=\"_3P4ktl zeCuXk _28z5Fp _3-to_p\">Loans from the best small-business lenders<\/span><\/h2>\n<\/div>\n<div>\n<div class=\"_29zmgu DbqHwy\">\n<table class=\"_2smbxw\" tabindex=\"0\">\n<thead class=\"eOiDbu\">\n<tr class=\"Dqf3NR\">\n<th class=\"_1Vozte\" scope=\"col\"><span class=\"_1xUXE0 _3p3gSd\">Product<\/span><\/th>\n<th class=\"_1Vozte\" scope=\"col\"><span class=\"_1xUXE0 _3p3gSd\">Max loan amount<\/span><\/th>\n<th class=\"_1Vozte\" scope=\"col\"><span class=\"_1xUXE0 _3p3gSd\">Min. credit score<\/span><\/th>\n<th class=\"_1Vozte\" scope=\"col\"><span class=\"_1xUXE0 _3p3gSd\">Learn more<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">SBA 7(a) loan<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$5,000,000<\/td>\n<td class=\"_3uJ9C5\">650<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"SBA Express loan\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/sba-generic-logo.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">SBA Express loan<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$500,000<\/td>\n<td class=\"_3uJ9C5\">650<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Bank of America Business Advantage Unsecured Term Loan\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/BankOfAmerica.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Bank of America Business Advantage Unsecured Term Loan<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">Undisclosed<\/td>\n<td class=\"_3uJ9C5\">700<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Wells Fargo BusinessLine\u00ae Line of Credit\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/wells_fargo_L.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Wells Fargo BusinessLine\u00ae Line of Credit<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$150,000<\/td>\n<td class=\"_3uJ9C5\">680<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Bluevine - Line of credit\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/BluevineLogo.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Bluevine &#8211; Line of credit<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$250,000<\/td>\n<td class=\"_3uJ9C5\">625<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Fundbox - Line of credit\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/Fundbox-new.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Fundbox &#8211; Line of credit<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$150,000<\/td>\n<td class=\"_3uJ9C5\">600<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"OnDeck - Online term loan\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/ondeck.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">OnDeck &#8211; Online term loan<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$250,000<\/td>\n<td class=\"_3uJ9C5\">625<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Headway Capital - Line of credit\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/HeadwayCapital.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Headway Capital &#8211; Line of credit<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$100,000<\/td>\n<td class=\"_3uJ9C5\">625<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"American Express\u00ae Business Line of Credit\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/Amex-Business-LOC-Logo.jpg\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">American Express\u00ae Business Line of Credit<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$250,000<\/td>\n<td class=\"_3uJ9C5\">660<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Funding Circle - Online term loan\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/fundingcircle.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Funding Circle &#8211; Online term loan<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$500,000<\/td>\n<td class=\"_3uJ9C5\">660<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Fora Financial - Online term loan\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/FF-logo.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Fora Financial &#8211; Online term loan<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$1,500,000<\/td>\n<td class=\"_3uJ9C5\">570<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"AltLINE - Invoice Factoring\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/altLineLogo.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">AltLINE &#8211; Invoice Factoring<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$10,000,000<\/td>\n<td class=\"_3uJ9C5\">300<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Triton Capital - Equipment financing\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/triton-capital.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Triton Capital &#8211; Equipment financing<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$250,000<\/td>\n<td class=\"_3uJ9C5\">575<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"JR Capital Equipment Financing\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/JRCapital.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">JR Capital Equipment Financing<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$10,000,000<\/td>\n<td class=\"_3uJ9C5\">620<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"Accion Opportunity Fund - Small Business Working Capital Loan\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/accion-opportunity-fund.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">Accion Opportunity Fund &#8211; Small Business Working Capital Loan<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$250,000<\/td>\n<td class=\"_3uJ9C5\">570<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<tr class=\"Dqf3NR\">\n<td class=\"_3uJ9C5\"><img decoding=\"async\" alt=\"SBA Microloan\" src=\"https:\/\/www.nerdwallet.com\/cdn-cgi\/image\/quality=85\/cdn\/img\/diy\/smb\/sba-generic-logo.png\" class=\"_3-B-de\"><\/p>\n<p class=\"TS4Kq- _28z5Fp\">SBA Microloan<\/p>\n<\/td>\n<td class=\"_3uJ9C5\">$50,000<\/td>\n<td class=\"_3uJ9C5\">620<\/td>\n<td class=\"_3uJ9C5\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class=\"_3VJt4n\">\n<h2 class=\"_3P4ktl zeCuXk _28z5Fp _1My7YX\" data-currency=\"Text\"><span class=\"_3P4ktl zeCuXk _28z5Fp _3-to_p\">Small-business lender alternatives<\/span><\/h2>\n<\/div>\n<div class=\"_3VJt4n\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_28z5Fp _3-to_p\">If you\u2019re not sure that a traditional loan is right for you, you may consider these alternative funding options:<\/span><\/p>\n<\/div>\n<div class=\"_3VJt4n\">\n<ul data-currency=\"List\" class=\"_2cGsD8\">\n<li class=\"_3ho7K- _1pCihN olf-Ig\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">Angel investors or venture capital firms. <\/span><\/span><span class=\"_28z5Fp _3-to_p\">Instead of going into debt, you could opt for forms of <\/span><span class=\"_28z5Fp _3-to_p\">equity financing<\/span><span class=\"_28z5Fp _3-to_p\">, which allow you to trade ownership shares in your business for capital. <\/span><span class=\"_28z5Fp _3-to_p\">Angel investors<\/span><span class=\"_28z5Fp _3-to_p\"> are usually wealthy individuals who invest their own money into a business idea, whereas venture capitalists typically invest on behalf of a firm. Equity financing is typically only an option for high-potential, fast-growing companies, and it can cost you control of your business if you dilute your ownership too much.\u00a0<\/span><\/p>\n<\/div>\n<\/li>\n<li class=\"_3ho7K- _1pCihN olf-Ig\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">Self-funding. <\/span><\/span><span class=\"_28z5Fp _3-to_p\">If you have the means and want to avoid debt and ownership dilution, you may opt to fund your business yourself. You can use personal savings (sometimes referred to as <\/span><span class=\"_28z5Fp _3-to_p\">bootstrappin<\/span><span class=\"_28z5Fp _3-to_p\">g), or tap into your retirement savings tax free with <\/span><span class=\"_28z5Fp _3-to_p\">Rollovers as Business Startups<\/span><span class=\"_28z5Fp _3-to_p\"> (ROBS). With self-funding, you will likely save money on interest and fees; however, you risk your personal savings or retirement fund if your business fails.\u00a0<\/span><\/p>\n<\/div>\n<\/li>\n<li class=\"_3ho7K- _1pCihN olf-Ig\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">Friends and family loans. <\/span><\/span><span class=\"_28z5Fp _3-to_p\">If you have friends and family who are willing and able to support your business with a loan, you may be able to save money on interest and get funding quickly. <\/span><span class=\"_28z5Fp _3-to_p\">Friends and family loans<\/span><span class=\"_28z5Fp _3-to_p\"> likely won\u2019t help you build business credit, and you may risk putting a strain on personal relationships. If you decide to go this route, put the agreement in writing to avoid personal disputes.\u00a0<\/span><\/p>\n<\/div>\n<\/li>\n<li class=\"_3ho7K- _1pCihN olf-Ig\">\n<div class=\"_3wlVa6 _2247K8\">\n<p class=\"_28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\"><span class=\"_3VmbAf _28z5Fp _3-to_p\">Crowdfunding.<\/span><\/span><span class=\"_28z5Fp _3-to_p\"> Particularly if you already have a group of supportive friends and family who can help kickstart your fundraising, <\/span><span class=\"_28z5Fp _3-to_p\">crowdfunding<\/span><span class=\"_28z5Fp _3-to_p\"> can be a viable \u2014 albeit time consuming \u2014 avenue to building capital for your small business. As a bonus, this funding option can also help you drum up interest in your business and expand your base of potential customers.<\/span><\/p>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.nerdwallet.com\/article\/small-business\/best-small-business-lenders\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Small-business lenders can be traditional financial institutions, such as banks or credit unions, government agencies, nonprofit organizations or online fintech companies. Individual lenders vary in the types of small-business loans they provide, as well as their application processes and eligibility criteria for borrowers. The best small-business lender offers the products you need, has requirements you<\/p>\n","protected":false},"author":2,"featured_media":4552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[195],"tags":[471,470],"class_list":{"0":"post-4551","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-lenders","9":"tag-smallbusiness"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/4551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4551"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/4551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/4552"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}