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      November 25, 2020

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Business Loans

  1. Funding Circle
  2. LendingTree
  3. LendingClub
  4. Kabbage
  5. National Funding
  6. Clearbanc
  7. Balboa Capital
  8. Nat Business Capital
  9. CAN Capital
  10. Advanced Comm Capital
  11. Capital Loan Hub

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Best Business Loans Better Business Bureau Reliability Seal

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.

Continue reading below reviews

Best Reviews


2020

Business Loan Reviews

5 stars
On Deck

ON DECKTopConsumerReviews.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.

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4.5 stars
Funding Circle

FUNDING CIRCLE

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.

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4 stars
LendingTree

LENDING TREE

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 Ė saving people significant time and effort in the process of borrowing money.

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4 stars
LendingClub

LENDINGCLUB

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.

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4 stars
Kabbage

KABBAGE

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.

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4 stars
National Funding

NATIONAL FUNDING

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.

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4 stars
Clearbanc

CLEARBANC

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.

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3.5 stars
Balboa Capital

BALBOA CAPITAL

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.

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3.5 stars
National Business Capital

NATIONAL BUSINESS CAPITAL

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.

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3 stars
CAN Capital

CAN CAPITAL

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.

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2.5 stars
Advanced Commercial Capital

ADVANCED COMMERCIAL CAPITAL

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.

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1 star
Capital Loan Hub

CAPITAL LOAN HUB

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.

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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!

How to Get a Small Business Loan With Bad Credit

Bad credit doesn't have to make your business unbankable. The Blueprint shows you how to secure a small business loan even if you have bad credit.

Published:  Tue, 24 Nov 2020 11:12:51 GMT



Why Black-Owned Businesses Struggle To Get Small Business Loans

Small business owners have struggled during the COVID-19 pandemic all across the U. S. Minority business owners, in particular, have been hit especially hard by the pandemic and shutdowns.

Published:  Tue, 24 Nov 2020 04:20:00 GMT



Business owners expecting paycheck protection loan forgiveness can't deduct expenses

The IRS says that expenses covered by PPP loans can't be deducted if borrowers expect the balance will be forgiven.

Published:  Thu, 19 Nov 2020 16:39:00 GMT



A banker's guide for choosing the right lease or loan for your business

Choosing the right type of financing for a business is never a one-size-fits-all proposition. A startup doesn't have the same working capital requirements as a large manufacturer, and a health care ...

Published:  Mon, 16 Nov 2020 08:34:00 GMT



Student Loan Forgiveness Won't Provide Economic Stimulus

According to a new report, the plan to cancel student loans won't really stimulate the economy. Here's what you to need know. Student Loans. Millions of student ...

Published:  Tue, 24 Nov 2020 09:48:00 GMT



Student loan forgiveness may come with a tax bomb. How lawmakers might fix it

Generally, when a debt is canceled, you can expect to owe taxes. How might this look if student loan balances are forgiven?

Published:  Tue, 24 Nov 2020 10:30:00 GMT



Small Business Loan Market to See Strong Investment Opportunity | Wells Fargo, MUFG Bank, The Japan Post Bank

A new research document is added in HTF MI database of 200 pages, titled as "Global Small Business Loan Market Size ...

Published:  Thu, 19 Nov 2020 09:02:00 GMT



5 student loan refinancing mistakes to avoid

Borrowers can visit Credible to compare student loan refinancing rates from multiple lenders simultaneously. "There are multiple scenarios in which refinancing a student loan makes sense, but there ...

Published:  Mon, 23 Nov 2020 06:30:00 GMT



Federal Judge Sets Dec. 1 Deadline for Broader Disclosure of PPP Loan Records

The judge, James Boasberg of Washington federal district court, set a Dec. 1 deadline for the U.S. Small Business Administration and U.S. Treasury Department to "release the names, addresses, and ...

Published:  Tue, 24 Nov 2020 12:19:00 GMT



Canceling student loan debt would be ineffective at boosting US economy, study shows

President-elect Joe Biden is facing growing pressure to erase student loan debt on his first day in office as part of a broader coronavirus relief effort - but doing so may be an ineffective way to ...

Published:  Mon, 23 Nov 2020 07:37:00 GMT



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