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Small Business Loans: Compare, Apply and Get Funding Today

Every business has different capital needs, and there’s no one-size-fits-all financing solution. Fortunately, small business owners have more than banks to turn to when looking for the best small business loans. 

From term loans to merchant cash advances, you can fund your day-to-day operations and company growth initiatives through various types of alternative business loans and financing products and benefit from:

  • Less strict borrowing requirements
  • Quick application and underwriting process
  • A funding product for every business need
All Loan Types

Browse All Business Loan and Financing Types

Compare competitive business loan interest rates, and find out how to get a small business loan that’s right for you.

Business Term Loans

Ready to take on a capital-intensive project? Finance the costs over a 5-year term.
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  • Loan Amount:

    Up to $500,000

  • Estimated Repayment Term:

    1 - 5 years

  • Interest Rate:

    Starting at 7%

  • Speed of Funding:

    As fast as 1 day

See If You Qualify

Short-Term Loan

Need capital to address a short-term expense or opportunity? Get financing for your small business in as little as 24 hours.
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  • Loan Amount:

    Up to $500,000

  • Estimated Repayment Term:

    3 - 18 months

  • Interest Rate:

    Starting at 10%

  • Speed of Funding:

    As fast as same day

See If You Qualify

SBA Loans

In need of capital for your small business, but not in a rush? SBA loans offer low interest rates and long terms.
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  • Loan Amount:

    Up to $5 million

  • Estimated Repayment Term:

    5 - 25 years

  • Interest Rate:

    Starting at 7.25%

  • Speed of Funding:

    As fast as 5 days

See If You Qualify

Working Capital Loans

Cover short-term operational needs with a working capital loan.
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  • Loan Amount:

    $3,000 - $500,000

  • Loan Term:

    3 months - 5 years

  • Interest Rate:

    Starting at 7%

  • Speed of Funding:

    As fast as same day

See If You Qualify

Equipment Financing

Need to purchase new equipment? There are options for nearly every need.
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  • Financing Amount:

    Up to 100% of value

  • Estimated Repayment Term:

    1 - 5 years

  • Interest Rate:

    Starting at 8%

  • Speed of Funding:

    As fast as 2 days

See If You Qualify

Business Line of Credit

Does your small business have ongoing financial needs? A line of credit is there if you need it.
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  • Loan Amount:

    Up to $500,000

  • Estimated Repayment Term:

    6 months - 3 years

  • Interest Rate:

    Starting at 8%

  • Speed of Funding:

    As fast as 1 day

See If You Qualify

Merchant Cash Advance

Need cash fast? Borrow against your future earnings with flexible requirements.
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  • Advance Amount:

    Up to $500,000

  • Estimated Repayment Term:

    3 - 18 months

  • Factor Rate:

    Starting at 1.14

  • Speed of Funding:

    As fast as same day

See If You Qualify

Commercial Loans

Looking to build, expand or grow? Cover business-related expenses with flexible financing options.
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  • Loan Amount:

    Up to $5 million

  • Loan Term:

    3 months - 25 years

  • Interest Rate:

    Starting at 7%

  • Speed of Funding:

    As fast as same day

See If You Qualify

Accounts Receivable Financing

Capital tied up in unpaid invoices? Gain instant access to the cash you’re owed.
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  • Advance Amount:

    Up to 80% of receivable value

  • Estimated Repayment Term:

    Until the customer pays the invoice

  • Factor Rate:

    Starting at 1.02

  • Speed of Funding:

    As fast as same day

See If You Qualify
People Calculating Financial Decisions

Why Apply for a Small Business Loan?

When you apply for a small business loan, it’s because your business has a financial need, either planned or unexpected. Whether you require additional working capital, want to buy out business partners or are looking to grow and expand your company, a small business loan can help.

Get Working Capital 

Each business, no matter its size, experiences periods where working capital is tight. There are various types of small business loans that can help shorten these stretches without interrupting operations, including conventional bank and alternative business loans.

Keep Your Equity

Securing a small business loan can allow you to maintain equity and control of your company. In contrast, if you were to secure funding from investors, the investors might take control of your company, and you may need their permission to make business decisions.

When working with a small business lender, however,  you don’t need permission to use your funds. Use your business loan however you want, and keep any profits and gains that your business generates. 

Create Long-Term Growth

To create long-term growth, you have to invest in your business continually. A small business loan can enable you to plan for the future without taking any working capital from your day-to-day needs.

Expand

Trying to capitalize on a new market? With a small business loan, you can secure the business location you need to widen your reach.

How Does It Work?

Identify the Best Small Business Loan for You

Follow three key steps to identify the best small business loan for you, one that’s right for your specific needs and financial profile.

Step 1: Examine Your Goals

To determine the best types of business loans for you, examine your goals and why your small business needs funding.

  • Purchasing a piece of machinery?
  • Need funding to get through the slow months?
  • Renovating your storefront or office?
  • Jumping on a hot business opportunity?

Depending on your unique goals, certain types of business loans may be better for you than others. For example, if your objective is to purchase seasonal inventory you intend to turn in 90 days, it’s not the best decision to take out a 10-year loan. Your loan shouldn’t outlast the life of your investment.

Typically you’ll find lower business loan interest rates and smaller monthly payments on long-term options. The tradeoff for these perks is more stringent qualification requirements and a slower time to fund. If you need to act on a business opportunity fast, you may be better served with a short-term loan or advance.

A look at your small business loan options

If you demand speed, consider:

  • Short-term loans
  • Business lines of credit
  • Accounts receivable financing
  • Merchant cash advances

If you’re looking to finance a capital-intensive project, consider:

  • SBA loans
  • Term loans 
  • Equipment financing 

Step 2: Find the Best Small Business Lenders

When researching the best small business lenders for you, your selection will likely come down to two variables: your business’s financial profile and how quickly you need funds. 

You can apply for a small business loan with one of the following types of lenders.

Banks

When applying for a small business loan through a bank, small businesses go through a multi-step process that can take as long as 6 months. 

Business owners are asked to complete an application and meet with a loan officer in person. Sometimes you’re required to present a proposal for how you intend to use the funds – and how it’ll benefit your business. 

When applying through a bank, their small business loan qualifications are high. If your credit score is below 660, you’re just starting out or your revenues are modest, your chances of securing a small business loan from a bank or credit union are slim.

Alternative Business Lenders

Alternative business loan providers have simplified and streamlined the application and approval process. Applying for a small business loan online can take minutes. 

Plus, with alternative business lending, the approval and funding process is shortened from weeks to days. In fact, depending on the type of online small business loan you’re applying for, funds can be deposited the same day you apply. 

Alternative business lenders and marketplaces like Fast Capital 360 are also willing to work with more small business owners. If you don’t have a lot of years as an entrepreneur or you’re working to repair your credit, you could still qualify for funding.  

Borrowing from Traditional Banks vs. Online Small Business Lenders

Why consider an online lender over a conventional bank? Here are the advantages and disadvantages of working with both:

Banks:

  • Low interest rates and long terms
  • Strict qualification requirements 
  • Lengthy and intensive application processes 
  • Long time to fund (up to 6 months)

 

Online lenders:

  • Higher rates and shorter terms
  • Flexible qualification requirements 
  • Streamlined application process
  • Same-day funding 

Step 3: Estimate What You Can Afford

The next step to identifying the best small business loan for you is to estimate what you can afford.

Determine how much capital you need to achieve your goals and how much you can afford to pay back. To do this, take a hard look at your cash flow. Compare your cash flow against the loan’s payback requirements.

Next, factor in any returns you expect to receive as a result of your investment. This is a great way to make sure you’re not taking out too large (or too small) of a loan.

Estimate how much you can borrow.

Loan Calculators

How To Qualify For Financing

Small Business Loan Requirements

Small business loan requirements will vary depending on the lender and the program. While there’s no guarantee of approval, businesses with a good credit score, an established history and healthy revenues will qualify for the best business loan interest rates.

Credit Score

When you apply for small business loans, lenders use credit scores to determine eligibility. While a credit score of Good, Very Good or Excellent (670 to 800) will qualify you with some of the best small business lenders, there are still programs suitable for business owners with Poor to Fair credit (<580 to 660).

Time in Business

The number of years you have under your belt is another small business loan qualification factor lenders consider. In general, conventional lenders, like banks, prefer to work with established entities in business for 2 years or longer. 

Online and alternative business lenders are more lenient when it comes to the time in business. If you’ve been in operation for 6 months or more, you’ll qualify for most online lending programs.

Annual Revenue

When applying to get a small business loan, lenders will evaluate your average monthly sales and annual revenue. Funders use this data to determine how much of a loan an applicant qualifies for.

Do you qualify?

You can secure a business loan through Fast Capital 360 with the following minimum requirements:

  • You’ve been in business 6+ months
  • Your annual revenue is $75,000 or higher
  • Your credit score is 500 or better

 

How Much Does Financing Cost

How to Apply for a Small Business Loan

We help business owners find the best online small business loans from the industry’s top alternative lenders. 

With Fast Capital 360, you can:

Save Time & Money

Shop and compare rates from the industry’s top lenders with a single application.

Get Multiple Loan Options

Tap into our network of lenders with competitive rates and terms to choose the best offer.

Get Expert Loan Advice

Our knowledgeable advisors will help you choose the best loan option.

See how business owners are reaching their goals with access to financing. Customer Success Stories