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ON DECK

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

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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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FUNDIA

Fundia is an accredited business with the Better Business Bureau since 2015 and has an A rating. As one of the few companies in our review who provide funding for startups, and with 12 months of free consulting to help their customers effectively manage their credit lines, we think Fundia is a great option among companies offering business loans.

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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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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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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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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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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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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.

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!



Business Loans In The News

Federal shutdown impacts millions in local small business loans

Alice Boykin had secured financing through banks and HCDC to buy an Over-the-Rhine building and open up a first-for-Cincinnati Japanese spa with plans to close at the end of December. Then, the federa...

Published:  Thu, 17 Jan 2019 12:01:00 GMT



Bad for business Weighing shutdown's impact on commercial loans

Commercial loan portfolios may take a hit if the government shutdown persists. The current partial closure, which started on Dec. 22, is the longest in U.S. history. Credit unions and banks have jumpe...

Published:  Fri, 18 Jan 2019 07:14:00 GMT



Need a Small Business Loan Why the Small Business Administration Can't Help

The backlog of small business loans held up by the federal government shutdown is getting bigger by the day. The Small Business Administration halted its program supporting 7(a) loans for working capi...

Published:  Wed, 16 Jan 2019 00:34:00 GMT



What Percent of Small Business Have Loans over $300,000

Don't miss another episode of Truth In Data! Click on the red bell in the lower left corner of your screen to receive notifications as soon as the episode publishes. Data for this episode of Truth In ...

Published:  Wed, 16 Jan 2019 10:33:00 GMT



Color of Money: Worried about your loans during the government shutdown Financial institutions say: Call us.

car loans, business loans or credit cards," the statement said. "As they have in prior shutdowns, the agencies encourage financial institutions to consider prudent efforts to modify terms on existing ...

Published:  Sat, 19 Jan 2019 20:55:00 GMT



America's small business owners suffer as shutdown halts popular loan approvals

An ongoing partial government shutdown - the longest in U.S. history - might be starting to take a toll on America's entrepreneurs. The Small Business Administration (SBA) is not approving ...

Published:  Fri, 18 Jan 2019 09:54:00 GMT



Wilkes group secures record $18M in loans for small businesses

Cronauer worked with business consultant Ray Haden to secure a 20-year SBA 504 loan with a fixed interest rate that helped him construct and start the gym. "We wouldn't be able to do it without his kn...

Published:  Sat, 19 Jan 2019 21:49:00 GMT




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