Best Business Loans For Startups – Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and not necessarily those of WFTS.
Loans for start-up businesses may not meet the same requirements as loans for businesses with more experience.
Best Business Loans For Startups
When it comes to startup business loans, entrepreneurs who need working capital can choose from corporate credit cards, asset-based financing, term loans and business lines of credit, among other options.
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On the other hand, crowdfunding and other forms of financing can help new businesses with bad credit access flexible amounts of capital.
LendingTree is an online lending platform that connects businesses with a wide range of transaction partners. That’s why LendingTree doesn’t actually make any loans. Instead, LendingTree matches you with the best lending partner based on your application. LendingTree offers SBA loans, short-term loans, business lines of credit, equipment financing and invoice factoring.
Why we chose it: LendingTree offers the best small startup business loans because this company matches you with multiple potential lenders. Therefore, after filling out the application, you can easily find a loan offer with reasonable terms.
Your initial business loan terms and fees depend on the actual loan offer rate. Check your rate by filling out a quick LendingTree online application.
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One of the main reasons why LendingTree is the best loan platform for starting a business is its quick and easy application process. Since the application is online, it can be completed within 10 minutes. The application asks for your business classification, credit score, profitability and time in business. After filling out the application, LendingTree will show you business startup loan offers within two minutes.
The great part about LendingTree is that it covers many businesses. Rather than having specific criteria to exclude potential borrowers, LendingTree uses your credit score, annual income and profitability to find lenders willing to work with your business.
Your exact loan limit depends on which lending partner LendingTree matches you with. That said, you can apply for loans up to $2 million on the LendingTree app.
Because LendingTree works with multiple lending partners, your terms and fees depend on your specific loan offer. For this reason, it is very important to read the loan offer in its entirety. This is the only way to determine if the terms and fees are reasonable for your business.
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BlueVine is an established online lending platform offering short-term business lines from $5,000 to $250,000. You can choose a Flex 6 or Flex 12 line of credit with repayment terms of around six and 12 months. Therefore, BlueVine is an excellent choice for small business owners who need short-term working capital or business start-up loans.
Why we chose it: BlueVin is the best online lending platform for flexible credit lines because you can complete your application and get a decision on the same day. This lending platform considers borrowers with bad credit and six or more months of business.
Your initial business loan terms and fees depend on the actual loan offer rate. Check your rate by filling out a quick BlueVine online application.
BlueVine is one of the best startup business loan providers with an easy and fast application process. You can fill out an online application in 10 minutes. Plus, you’ll receive your loan offer within minutes and funds within one business day.
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BlueVine offers simplified borrower eligibility compared to other online and traditional lending platforms. However, BlueVine focuses on your business’s cash flow, time in business and credit score.
Additionally, BlueVine is one of the best small business loans for startups. Because BlueVine only considers borrowers who have been in business for six months or more.
BlueVine offers two different payment structures: Flex 6 and Flex 12. Borrowers who choose Flex 6 are subject to weekly payments for 26 weeks. On the other hand, Flex 12 borrowers make monthly payments for 12 months. Additionally, you can expect interest rates ranging from 15% to 78%.
Like LendingTree, Lendio is another lending platform with a broad lending marketplace. In fact, Lendio lets you compare start-up business loan options from over 75 direct lenders. Also, your loan can be credited to your bank account as fast as 24 hours. That’s why Lendio is a great option for small business owners who need quick cash.
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Why we chose it: Lendio is the best startup loan provider to find quick and comprehensive loan offers, as it offers more than 75 loan options after filling out the application. That’s why you can use Lendio to find the best rates and terms that suit you.
The terms and price of each startup business loan from Lendio depends on which lender you match with and the financial status of your business.
Lendio has a 15-minute online application process. After completing your application, you will receive your decision the same business day. That’s why Lendio is a great choice for small business owners who need a quick list of startup business loan options to compare.
Since Lendio is not a direct lending platform, borrower eligibility will vary depending on which lender is right for you. It depends on your business’s annual revenue, hours of business and your personal credit score.
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When it comes to Lendio’s small business loan limits, you can borrow between $25,000 and $500,000. Also, you can repay the loan within one to five years.
Although your terms and fees depend on your specific loan offer, your APR can be as low as 4.5%. However, your exact terms and fees are based on your credit score, time in business and other financial factors.
Credible is another online loan platform that offers you accurate pre-set rates for loans without affecting your credit score. So Credible is not a direct lender, but like the two options above. Instead, Credible matches you with the best potential lenders in its network based on your application and business information.
Why we chose it: Credible is one of the best start-up loan platforms as you can check rates from multiple lenders. This loan platform is free to use and you can see your pre-determined rate within two minutes.
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The exact rate and terms for your small business loan from Credible depend on a variety of factors, including your credit score and business finances.
Credible is a customer centric online lending platform. That’s why Credible simplifies the loan application process and lets you quickly compare rates from multiple lenders.
Borrower eligibility varies from lender to lender. However, lenders usually look at your credit score, proof of income and debt-to-income ratio to determine what type of loan you can offer.
Interest rates on your credit card loan range from 3.99% to 35.99%. Fortunately, with the online application process, you can find the exact terms and fees within two minutes.
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AmOne is another loan marketplace that matches borrowers with the best possible lender based on personal and business details. AmOne’s lending partners include Marcus, SoFi, Best Egg, Prosper, LendingPoint and Avant. Also, AmOne will provide you with a list of loan offers within minutes. There is no minimum credit score requirement for this loan platform.
Why we chose it: AmOne offers the best startup business loans with fast approval as this loan platform does not require a minimum credit score. After completing your application, you will see your loan offer within minutes.
AmOne has a fast application process. In your application, you must provide basic information such as your name, address, income and date of birth. However, AmOne does not ask for your Social Security number or run a credit check. AmOne displays a list of loan offers within 45 seconds of submitting a business start-up loan application.
AmOne has a broad range of credit and financial partners that cover the full range of American consumers. Therefore, approval requirements are determined by each lender.
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You can borrow from $1,000 to $100,000 with your AmOne business loan. Although AmOne offers small business loans, you can get unsecured personal loans for debt consolidation or home improvement, and secured loans for buying a boat or car.
AmOne welcomes borrowers with extensive credit histories and business finances. So the exact rate and terms depend on your application and business finances.
Fundera is a unique alternative lender that operates as both a direct lender and a loan marketplace. Because of this, funds can finance the entire loan. However, Fundera may choose to match you with multiple lenders in its network. It gives small business owners the flexibility and speed they need. Additionally, funds can help business owners with bad credit scores.
Why we chose it: Fundera by Nerdwallet offers the best SBA loans because it offers Cadence Bank and BayFirst loans. Fundera also offers a variety of SBA loans, including the 7(a) program, the CDC/504 program, and the small loan program.
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The cost of your Fundera business loan depends on your specific loan offer and the terms they offer. You should compare your options and choose the most favorable loan repayment terms.
Fundera offers an easy application process and access to SBA 7(a) loans, term loans, invoice factoring and more. offers access. Despite this,
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