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The Best Business Loan Providers

Who Offers the Best Business Loans?

With all the difficulties in today's economy, many people are choosing to open their own business instead of working for a traditional employer. Whether you're just starting your business, expanding your already-established business, or even hanging out a shingle as an online company, it's likely that at some point you'll need a business loan to successfully meet your customer's needs and your business goals.

In the past, small business owners relied heavily on traditional brick-and-mortar banks in order to finance their business loans. Often that meant that borrowers had to rely on their own reputation and relationship with their local bank. Getting the lowest possible interest rate was also more challenging, since there were few lending options from which to choose.

Tuesday, January 19th

2021 Business Loan Provider Reviews

On Deck Review TopConsumerReviews.com Best-In-Class Blue Ribbon Award 5 Star Rating

On Deck

5 Star Rating TopConsumerReviews.com Best-In-Class Blue Ribbon Award

In business since 2007, OnDeck specializes in providing short- and long-term business loans and lines of credit, and has helped more than 50,000 small businesses access the funds they need to grow. For businesses looking to borrow funds with extremely competitive rates, OnDeck is an excellent choice. They earn our highest rating.

Funding Circle Review 4.5 Star Rating

Funding Circle

4.5 Star Rating

Started by small business owners in response to their own frustrations with securing business loans to grow their company, Funding Circle uses peer-to-peer lending to fund small business loans. With no hidden fees, clear interest rates, and an A+ rating as an accredited business with the Better Business Bureau, Funding Circle is a great choice for people seeking business loans.

LendingTree Review 4 Star Rating

LendingTree

4 Star Rating

For business owners who want to see a number of possible loan sources in one place, LendingTree is a good site to use. They also offer helpful information about different types of loans: what purpose they serve, the positives and negatives of each loan type, and so on. Lending Tree is not a lender but provides business owners a list of legitimate companies willing to lend money - saving people significant time and effort in the process of borrowing money.

LendingClub Review 4 Star Rating

LendingClub

4 Star Rating

LendingClub is a trusted lender for those seeking business loans from $5,000 to $300,000. With very competitive interest rates and an uncomplicated application process, LendingClub is an excellent choice for business owners who need a loan to grow their company.

Kabbage Review 4 Star Rating

Kabbage

4 Star Rating

Kabbage uses a unique verification system for businesses looking to qualify for a business loan, making the application process incredibly quick and access to funds almost immediate. While their requirements make them unsuitable for startups, and their total loan amount is smaller than some other lenders, their low fees of 12% or less make them an attractive option for established businesses that need a business loan.

National Funding Review 4 Star Rating

National Funding

4 Star Rating

With loan options ranging from $5,000 to $500,000, National Funding is one of the only providers of business loans who can meet the needs of companies big and small (as long as you have annual gross sales of at least $100,000). They custom-design a loan specific to each customer, and even have options for those with bad credit. While we'd like to see more details about National Lending's fees and typical interest rates, a solid reputation with the BBB and ample 5-star ratings from loyal clients indicate that this provider can be trusted to offer business loans that are fair, affordable, and funded in as little as 24 hours.

Clearbanc Review 4 Star Rating

Clearbanc

4 Star Rating

For most e-commerce businesses, Clearbanc provides an attractive alternative to the typical business loan. They use AI to look at the performance of your company (via login information that you provide to your sales and marketing platforms), and to make you a funding offer based on your current successes and projected growth. Repayments are made on a percentage basis from your future revenue stream, along with a flat fee ranging from 6-12.5% of your funded amount. While you'll be out of luck if your company isn't e-commerce, you should absolutely consider Clearbanc if you've already had some wins with your subscription box, app or SaaS product and just need some money to grow your business.

Balboa Capital Review 3.5 Star Rating

Balboa Capital

3.5 Star Rating

Serving customers since 1998, California-based Balboa Capital has funded nearly $5 billion in financing solutions since its inception. Though some borrowers have expressed frustration with fees and other fine-print items, Balboa's A+ rating with the Better Business Bureau and established history make them a company to consider when looking for a business loan.

National Business Capital Review 3.5 Star Rating

National Business Capital

3.5 Star Rating

National Business Capital provides financing to businesses in a variety of industries and credit histories, specializing in helping those who have previously been turned down by banks and other lenders. They maintain an A+ rating with the Better Business Bureau and have a number of convincing testimonials on their website. Information on their loan terms is hard to come by, and we'd like to see more details with respect to loan amounts, eligibility requirements, and interest rates.

CAN Capital Review 3 Star Rating

CAN Capital

3 Star Rating

Georgia-based CAN Capital has been providing business loans for nearly 20 years and maintains a perfect A+ rating with the Better Business Bureau. However, interest rates aren't readily available, and our research indicates that they may be as high as 85%. We recommend that prospective borrowers make sure to calculate their APR before making a commitment to borrow from CAN Capital.

Advanced Commercial Capital Review 2.5 Star Rating

Advanced Commercial Capital

2.5 Star Rating

Advanced Commercial Capital is based in St. George, Utah and specializes in a particular type of business loan commonly known as factoring, in which a business sells its outstanding accounts receivable to a financial institution (a "factor") in order to get cash immediately. While this type of business loan may work for some established businesses, especially those with a physical inventory, Advanced Commercial Capital may not meet the needs of other types of businesses, including startups.

Capital Loan Hub Review 1 Star Rating

Capital Loan Hub

1 Star Rating

Most US-based businesses are likely to feel uncomfortable attempting to secure a loan through Capital Loan Hub. Based in the Caribbean and with no contact information other than an email address and online contact form, Capital Loan Hub serves merely as a referral service to other lenders and doesn't provide direct funding to businesses. We recommend that you consider one of the proven, trustworthy lenders that rank higher in our reviews.

Compare the Best Reviews

Continued from above...

Fortunately, business owners today can choose among many lenders to find the best terms and interest rates available. In addition to the old local options, small business borrowers now have much more and better choices through various lenders on the Internet that specialize in small business loans.

There are many factors that you should consider before selecting a lender for your business loan. Some of these include:

  • Loan size and rate. How much will you be allowed to borrow? What interest rates do they typically offer on loans of that size?
  • Loan application process. When applying for your business loan, can it be completed online? Is the lending process easy and straightforward?
  • Requirements for business history. Can a brand-new business take out a loan, or is there a minimum time that the business must have been in operation in order to qualify? What other verification and/or collateral is required to secure the loan?
  • BBB rating. Does the lender have an established history of good business practices?

TopConsumerReviews.com has reviewed and ranked the best Business Loan programs available today. We hope this information helps you find the best loan for your small business at an affordable rate!

Compare Business Loan Providers

Select any 2 Business Loan Providers to compare them head to head

best-business-loans
  • On Deck
  • Funding Circle
  • LendingTree
  • LendingClub
  • Kabbage
  • National Funding
  • Clearbanc
  • Balboa Capital
  • National Business Capital
  • CAN Capital
  • Advanced Commercial Capital
  • Capital Loan Hub
On Deck vs Funding Circle On Deck vs LendingTree On Deck vs LendingClub On Deck vs Kabbage On Deck vs National Funding On Deck vs Clearbanc On Deck vs Balboa Capital On Deck vs National Business Capital On Deck vs CAN Capital On Deck vs Advanced Commercial Capital On Deck vs Capital Loan Hub Funding Circle vs LendingTree Funding Circle vs LendingClub Funding Circle vs Kabbage Funding Circle vs National Funding Funding Circle vs Clearbanc Funding Circle vs Balboa Capital Funding Circle vs National Business Capital Funding Circle vs CAN Capital Funding Circle vs Advanced Commercial Capital Funding Circle vs Capital Loan Hub LendingTree vs LendingClub LendingTree vs Kabbage LendingTree vs National Funding LendingTree vs Clearbanc LendingTree vs Balboa Capital LendingTree vs National Business Capital LendingTree vs CAN Capital LendingTree vs Advanced Commercial Capital LendingTree vs Capital Loan Hub LendingClub vs Kabbage LendingClub vs National Funding LendingClub vs Clearbanc LendingClub vs Balboa Capital LendingClub vs National Business Capital LendingClub vs CAN Capital LendingClub vs Advanced Commercial Capital LendingClub vs Capital Loan Hub Kabbage vs National Funding Kabbage vs Clearbanc Kabbage vs Balboa Capital Kabbage vs National Business Capital Kabbage vs CAN Capital Kabbage vs Advanced Commercial Capital Kabbage vs Capital Loan Hub National Funding vs Clearbanc National Funding vs Balboa Capital National Funding vs National Business Capital National Funding vs CAN Capital National Funding vs Advanced Commercial Capital National Funding vs Capital Loan Hub Clearbanc vs Balboa Capital Clearbanc vs National Business Capital Clearbanc vs CAN Capital Clearbanc vs Advanced Commercial Capital Clearbanc vs Capital Loan Hub Balboa Capital vs National Business Capital Balboa Capital vs CAN Capital Balboa Capital vs Advanced Commercial Capital Balboa Capital vs Capital Loan Hub National Business Capital vs CAN Capital National Business Capital vs Advanced Commercial Capital National Business Capital vs Capital Loan Hub CAN Capital vs Advanced Commercial Capital CAN Capital vs Capital Loan Hub Advanced Commercial Capital vs Capital Loan Hub
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