Best Small Business Loans in March 2025

If your business doesn’t qualify for traditional financing at fair rates, consider using an SBA Preferred Lender like Live Oak Bank instead.

Loans guaranteed by the U.S. Small Business Administration (SBA) are meant to help small businesses get the financing they need by offering more lenient qualifying requirements than standard lenders. And SBA loans have capped interest rates based on your loan size, which keeps interest rates reasonable.

Live Oak Bank offers specialized experts in different industries, like craft distillery, veterinary care and automotive care, which can be incredibly helpful if you’re in one of those industries. If you’re not, it won’t disqualify you from funding, but you may not receive the same specialized help from your business analyst.

Still, this lender is not very upfront about its specific eligibility requirements, which can make it hard to tell if you qualify without talking to someone. To apply, you’ll need to fill out a lead capture form and speak to a lending specialist to apply for financing.

Live Oak Bank doesn’t disclose the minimum credit score, time in business or annual revenue you’ll need to qualify. Contact the lender directly to learn if your business qualifies for a loan.

If you need a quick startup business loan, Fundbox offers up to $150,000 with its business line of credit. New companies can qualify after three months of operation and at least $30,000 in annual revenue. Withdraw funds up to your credit limit as often as needed, only paying interest on the amount you use. If approved, funds could hit your bank account as soon as the next business day.

You can unlock additional benefits, including up to 20% off fees, by upgrading to Fundbox Plus. However, with payment terms of either 3 or 6 months, you’ll have to pay back your line of credit much sooner with Fundbox than you might with another lender.

In order to qualify, you’ll need to meet Fundbox’s criteria of:

• Minimum credit score: 600
• Minimum time in business: Three months
• Minimum annual revenue: $30,000

The American Express Business Line of Credit offers businesses access to revolving funds up to $250,000. With a business line of credit, you can borrow up to the credit limit as often as you like, only paying fees on the withdrawn amounts.

The streamlined application takes minutes to complete, requiring you to link your business bank account. If approved, you could receive funds within one to three business days.

In order to qualify, you’ll need to meet American Express’s criteria of:

• Minimum credit score: 660
• Minimum time in business: 12 months
• Minimum annual revenue: $36,000

If you need a loan but have bad credit, Fora Financial considers borrowers with credit scores as low as 570 with no collateral required. Your business could access funds up to $1,500,000 that can be used for almost any type of business expense.

To qualify, your business must generate at least $20,000 a month in revenue. You can expect to receive your funds within 24 to 48 hours after approval. In addition to term loans, Fora Financial offers revenue advances where payback is based on a percentage of your daily or weekly receipts.

In order to qualify, you’ll need to meet Fora Financial’s criteria of:

• Minimum credit score: 570
• Minimum time in business: Six months
• Minimum annual revenue: $240,000

Taycor Financial offers equipment loans up to $5,000,000 with extended repayment terms and no prepayment penalties. Since the equipment acts as collateral to secure the loan, all business types are encouraged to apply — including startups or low-revenue companies. Additionally, Taycor Financial’s low minimum required credit score of 550 makes it a great option if you’re looking for equipment loans with bad credit.

You can also consider other funding solutions with Taycor Financial, including business lines of credit, commercial bridge loans and term loans.

In order to qualify, you’ll need to meet Taycor Financial’s criteria of:

• Minimum credit score: 550
• Minimum time in business: Not required
• Minimum annual revenue: No specific minimum

Credibly’s working capital loans can provide funding in less than 24 hours if you need cash to cover operating expenses or purchase inventory. With a minimum credit score of 500, Credibly may be willing to look past a checkered credit history if you have a healthy annual revenue.

In addition to working capital loans and merchant cash advances, Credibly partners with lenders offering merchant cash advances, business lines of credit, equipment financing, SBA loans, invoice factoring and other loans to help your business get the funding it needs.

In order to qualify, you’ll need to meet Credibly’s criteria of:

• Minimum credit score: 500
• Minimum time in business: Six months
• Minimum annual revenue: $180,000

OnDeck allows you to borrow large amounts, even with a low minimum credit score and a short business history. Depending on your location, you may be able to access your funds the same day you’re approved. Additionally, you can build your business credit by making on-time payments with an OnDeck loan.

However, OnDeck’s rates tend to run high — with an average 56.1% APR for its term loan.

In order to qualify, you’ll need to meet OnDeck’s criteria of:

• Minimum credit score: 625
• Minimum time in business: 12 months
• Minimum annual revenue: $100,000

If your business’s revenue is on the lower end, consider Headway Capital. You only need to be able to show $50,000 in annual revenue to qualify. Once approved, you can borrow up to $100,000 with a flexible line of credit for expenses like payroll, inventory, marketing or covering seasonal dips in income.

Headway Capital uses a holistic approach to evaluate your loan application, considering factors beyond your credit score. However, you still need to have been in business for 12 months to be considered.

In order to qualify, you’ll need to meet Headway Capital’s criteria of:

• Minimum credit score: Not disclosed
• Minimum time in business: 12 months
• Minimum annual revenue: $50,000

The Accion Opportunity Fund (AOF) is a nonprofit organization focused on helping diverse business owners get the resources and funding they need for their companies to succeed. With funds ranging from $5,000 to $250,000, AOF can be a great choice for minority entrepreneurs and those looking for small business loans for women.

AOF also offers microloans for immigrant-owned businesses, as well as grants for Black small business owners. Entrepreneurs can take advantage of AOF’s extra resources and support in English and Spanish.

Read more about the Accion Opportunity Fund.

In order to qualify, you’ll need to meet Accion Opportunity Fund’s criteria of:

• Minimum credit score: Not disclosed
• Minimum time in business: 12 months
• Minimum annual revenue: $50,000

A long-term business loan from iBusiness Funding can provide between $25,000 and $500,000, helping you cover expenses like payroll services, inventory, equipment and more. With a streamlined application process, you can receive funds in as soon as two business days. Repayment terms go up to seven years with no fees for repaying the debt early.

iBusiness Funding also offers business lines of credit with no monthly maintenance fee and SBA loans.

Read our iBusiness Funding review.

In order to qualify, you’ll need to meet iBusiness Funding’s criteria of:

• Minimum credit score: 640
• Minimum time in business: 24 months
• Minimum annual revenue: $50,000

If you have significant capital tied up in unpaid invoices, eCapital provides up to $30,000,000 with fast invoice factoring. You can receive a cash advance for 80% to 90% of your outstanding invoices while eCapital collects customer payments on your behalf. eCapital will then take its factor rate (discount rate), and send you the remaining amount.

eCapital provides what’s called non-recourse invoice factoring, which allows you to keep the advance even if your customers fail to pay. Since this involves a slightly higher risk for the lender, non-recourse factoring typically costs more.

Read more about eCapital.

In order to qualify, you’ll need to meet eCapital’s criteria of:

• Minimum credit score: Not applicable
• Minimum time in business: 12 months
• Minimum annual revenue: $120,000

With close to 7,000 physical branches throughout the U.S., Wells Fargo Bank could be a good option for business owners wanting a traditional brick-and-mortar bank experience. Wells Fargo Bank offers unsecured and secured lines of credit, SBA loans, healthcare practice loans, business bank accounts and business credit card rewards.

While bank business loans generally have lower interest rates than online lenders, it can take up to two weeks to process and fund a Wells Fargo Bank business line of credit. Traditional banks also typically require a good credit score and at least two years in business, although the Wells Fargo Small Business Advantage line of credit is designed for businesses that have been operating for less than two years.

Read our Wells Fargo Bank review.

In order to qualify, you’ll need to meet Wells Fargo Bank’s criteria of:

• Minimum credit score: 680 for unsecured line of credit (not disclosed for other products)
• Minimum time in business: 24 months for unsecured line of credit (not disclosed for other products)
• Minimum annual revenue: Undisclosed

If you need fast access to capital, National Funding provides quick business loans with an approximate 24-hour turnaround. Its term loan provides up to $500,000 with no collateral required. Even better, you can get a discount for paying off your loan early, making this a solid contender for business owners who may be able to make extra payments on higher profit months. National Funding also offers equipment financing and leasing from $5,000 to $150,000.

The company also has a Guaranteed Lowest Payment program, but it only applies if you find a better rate with the exact same terms and conditions and without contingencies.

Just keep in mind you need to earn at least $250,000 a year to qualify for financing with National Funding.

Read our National Funding review.

In order to qualify, you’ll need to meet National Funding’s criteria of:

• Minimum credit score: 600
• Minimum time in business: Six months
• Minimum annual revenue: $250,000