The digital age has made it easier than ever to apply for funding for your small business.

With that in mind, here’s our list of the 14 top easy business loans.

The Top Easy Small Business Loans

For small businesses looking for capital, it’s been a good year. Small banks are approving nearly half the small business loan applications they received this year, according to a November 2019 article in Forbes. Big banks are approving 28% of loan apps for the first time since the recession, according to online funding arranger Biz2Credit. On top of that, the Federal Reserve cut interest rates again for the third straight time in 2019.

That means the cost to borrow money is lower and it makes more money available.

Big banks, community banks and credit unions are options, but many small businesses are turning to online lenders for:

  • Flexible lending criteria
  • An easy application process
  • Fast access to cash

Applying online through direct lenders or peer-to-peer lenders can get money in your hands quickly. Most require only simple loan applications and basic information about your business. They will give you a quick review and, if approved, often fund loans within 24-48 hours of approval.

Here are some of the top easy small business lenders (in alphabetical order):

Direct and Marketplace Lenders

1. Accion

  • Rates:  Start at 7% a year
  • Amounts:  $300 – $250,000
  • Payment Terms:  Not published

Accion offers SBA Community Advantage loans, part of a Small Business Administration (SBA) program, for established small businesses and partially funded startups that need funding to expand. Minimum qualifications will include credit scores of 525 or higher and 2 years of revenue reports for established businesses. Start-ups will need a minimum of 20% of the total costs invested with a business plan.

2. BlueVine

BlueVine Capital requires borrowers to have a minimum annual revenue of $100,000, at least 6 months in business and a credit score of 600.

  • Rates:  Start at 4.8% a year
  • Amounts:  $5,000-$5 million
  • Payment Terms:  6 or 12 months

3. CAN Capital

CAN Capital requires business owners to have a minimum annual income of at least $150,000 and six months in business.

  • Rates:  Varies
  • Amounts:  $2,500-$250,000
  • Payment Terms:  6-18 months

5. Fundbox

Fundbox provides short-term financing using short-term loans, a revolving business lines of credit or invoice financing.

  • Rates:  Varies
  • Amounts:  $1,000-$100,000
  • Payment Terms: Equal Installments over 12 weeks or 24 weeks

6. Kabbage

Kabbage wants an annual revenue of $50,000 or greater and one year in business.  Unlike other lenders, Kabbage loans don’t come with an interest rate. Instead, you’ll make a payment towards the principal each month with a factoring fee ranging from 1.5% to 10% of your loan.

  • Fee Rates:  1.5% to 10% of the principal loan amount
  • Amounts:  $500-$250,000
  • Payment Terms:  6, 12 or 18 months


Many small businesses are turning to online lenders for flexible lending criteria, an easy application process and fast access to cash.

8. LoanBuilder

LoanBuilder, a service of PayPal, requires at least 9 months in business with an annual revenue of at least $42,000.

  • Rates:  Varies
  • Amounts:  $5,000-$500,000
  • Payment Terms:  Up to 1 year

LoanBuilder has a list of 22 industries that it can’t fund from attorneys to voluntary health organizations.

9. National Funding

Businesses need a minimum one-year track record, annual revenue of $100,000 and a minimum credit score of 600.

  • Rates:  Varies
  • Amounts:  $5,000-$500,000
  • Payment Terms:  6-15 months

10. OnDeck

OnDeck requires a minimum credit score of 600, one year in business and a minimum annual revenue of $100,000.

  • Rates:  Start at 9.99% a year
  • Amounts:  $5,000-$500,000
  • Payment Terms:  3-36 months

11. QuarterSpot

To qualify for a loan with QuarterSpot, businesses must have been in operation for 2 years and have at least $16,000 a month in sales with a credit score of at least 550.

  • Rates:  Varies
  • Amounts: Up to $250,000
  • Payment Terms:  6, 9, 12, 15 or 18 months

12. SmartBiz

To qualify for a loan from SmartBiz, you’ll need at least $50,000 in annual income and two years in business. SmartBiz brokers SBA loans and matches your business with lenders that are most likely to fund your loans.

  • Rates:  Start at 6.5% a year
  • Amounts:  $30,000-$5 million
  • Payment Terms:  10-25 years

SmartBiz also offers bank term loans for small businesses from $30,000-$200,000 with 2-5 year repayment terms and fixed interest rates starting at 6.99%.

Peer-to-Peer Lenders

Another option for easy small business loans is peer-to-peer lenders. Bypassing the banks, small businesses can apply for loans on peer-to-peer lending platforms. Individual investors choose loans to fund. They can fund the entire loan or multiple investors may fund parts of it.

Here are two of the most popular peer-to-peer lending sites that offer small business loans.

13. Funding Circle


  • Rates:  Start at 4.99% a year
  • Amounts:  $25,000-$500,000
  • Payment Terms: 6 months to 5 years
  • Origination Fees:  3.49%-6.99%

14. Lending Club

  • Rates:  Start at 4.99% a year
  • Amounts:  $5,000-$500,000
  • Payment Terms:  1-5 years
  • Origination Fees:  3.49%-7.99%

Compare Easy Business Loan Terms & Conditions

In any loan, you’ll want to make sure you study the details. Every lender’s loan terms will be slightly different. It pays to compare. While you’ll want to check everything, here are the key things to compare when you’re trying to decide which lender is right for you:

  • Loan amount: The total amount you can (and want) to borrow.
  • Expenses: Interest rates, fees and any charges that lenders require you to pay. Pay attention to broker fees or origination fees.
  • Minimum qualifications: The qualifications lenders require, such as the amount of time you’ve been in business, your annual revenue and your credit score.
  • The approval process: How long will it take lenders to evaluate your application and fund your loan?
  • Repayment: The length of time you have to repay the loan and when payments are due. If there’s a chance you can repay the loan in full before its maturity date, you’ll want to consider loans that have no prepayment penalties.
  • Collateral or guarantees: Some loans will require collateral or personal guarantees

Easy Business Loans: No Credit Check

Although most lenders list minimum credit scores, many will issue loans without doing credit checks if you provide supporting material. You can expect to pay a higher interest rate, however.

When evaluating whether to loan money to a small business, lenders always are evaluating risk. The higher the risk, the higher the interest rate will be. One of the ways lenders evaluate risk is by checking credit. If you have poor credit or a low credit score, you may want to avoid lenders that require a credit check.

When discussing loans with lenders, find out if they require a credit check. If they do, make sure they do a “soft credit pull” for your initial qualification. This won’t affect your credit. A “hard pull,” however, will show up on your credit report. If you’re shopping for a loan, too many hard pulls can be seen as a negative.

The digital age has made it easier than ever to apply for funding for your small business.

Easy Business Startup Loans

When you’re a startup, you most likely don’t have a track record, business history or ability to prove recurring revenue. There are still options available for easy business startup loans.

ROBS (Rollover for Business Startups)

ROBS (Rollover for Business Startups) loans let you use your 401(k) or deferred retirement account for loans. Guidant Financial and Benetrends Financial are two popular options. Note that there are significant fees, transactions can be complicated and you’re putting your retirement funds at risk.

SBA Startups Loans

SBA startup loans require a credit score of at least 680 and you’ll need to put up collateral to back the funding. SBA Community Advantage loans extend up to $250,000 for 10-25 years with a maximum interest rate of the prime rate plus 6%.

Personal Loans

Personal loans for business allow you to access capital based on your personal credit and income. You can use the money for whatever you want if you qualify, but the loan will be in your name and you will be personally responsible for repayment. Most online lenders and banks offer personal loans in addition to business loans.

Easy Business Loans for People With Bad Credit

If you have a FICO credit score between 580 and 669, it’s considered “fair.” If it’s below 580, it’s considered “poor.” This doesn’t mean you can’t get a loan. It does mean you should expect to pay higher interest rates.

Many of the lenders listed above offer loans to those with good and poor credit scores. For example, Fundbox, Accion, Kabbage and QuarterSpot will loan money to those with credit scores in the 500s. BlueVine, National Funding and OnDeck will fund loans for businesses with credit scores in the low 600s.

How Easy Is It to Get a Business Loan?

Online lenders make the loan process easier than ever, offering a variety of options and terms. You can typically apply in a few minutes, get an answer with 24 hours and get your loan funded fast. In some cases, you can have funds deposited in as little as 24 hours.

Note: Rates and terms accurate as of November 2019.

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