Best Small Business Loans Of 2026Best Small Business Loans Of 2026
Best Small Business Loans Of 2026
Audited & Verified: Apr 1, 2026, 12:12pm
HOW WE ANALYZED
To determine the best small business loans, our team of experts evaluated 37 lenders to score them across categories that matter the most when loan shopping, including eligibility requirements, borrowing costs and funding times. Read our methodology
APRs:As low as 5%
Top lenders:Ratings over 4.25
Loan amounts:Up to $20 million
Quick Dive
Finding the cash you need to start or grow a business can be difficult. Find out the best small business loans that can provide the cash your business needs to thrive.
Compare the Best Small Business Loans
With an application that takes just minutes to complete and same-day funding available, OnDeck may be a smart choice for business borrowers who need funds quickly.
Via Ondeck’s Website
To apply for a loan through QuickBridge, you’ll need just a driver’s license and bank statements to start. While some tax information may be required following your initial application, QuickBridge offers a quick and easy application process compared to competitors.
On Quickbridge’s Website
National Funding offers repayment terms as short as four months. Borrowers who pay off loans ahead of schedule may also qualify for early payoff discounts.
On National Funding’s Website
PayPal offers loans to businesses with established PayPal accounts, making it a good fit for those who already do their business through the platform. Rather than an APR, you’ll pay a single, upfront fee followed by weekly payments.
Via Forbes Advisor
With a wide range of loan types, high maximum loan amounts and accessible requirements, Fora Financial earns a 5-star rating and the top spot on our list.
On Fora Financial Business Loans’ website
Offering merchant cash advances up to $2 million with approval in as little as 24 hours, Reliant Funding may be a good choice if you’re looking to borrow against your future sales.
Via Forbes Advisor
You’ll need two years of business history to qualify for a loan with Chase, and it offers discounts to borrowers with existing banking relationships. Although it doesn’t disclose APRs online, Chase may be a good option if you have an established business and can qualify for rate
Via Forbes Advisor
Through its lender network, 1 West provides loan opportunities for newer businesses with monthly revenue of just $5,000 and three months in business needed to qualify for a loan. Loan amounts start at $5,000 to get your business off the ground.
On 1 West’s Website
Accepting credit scores as low as 500, Fundible may be an option for borrowers with limited credit who may struggle to be accepted for a loan elsewhere.
Via Forbes Advisor
Upwise Capital offers loan terms up to 30 years, and you can borrow up to $20 million. If you need to borrow a large amount or need a long repayment period, you may want to consider Upwise.
Via Forbes Advisor
If your business has existing debt, SBG Funding’s short term loans may be a good fit for debt consolidation. With annual revenue of $350,000 and six months in business required to qualify, SBG is best for established businesses.
Via Forbes Advisor
- Best Small Business Loans: A Closer Look
- Comparison: Small Business Loan Lenders
- User Opinions of the Top Business Lenders
- How Business Loan Costs Compare Across Top Lenders
- Compare Business Lenders’ Accessibility and Eligibility Criteria
- Tips for Comparing Small Business Loans
- Small Business Lending Trends
- Types of Business Financing
- Calculate Your Small Business Loan Payments
- How To Get a Small Business Loan
- Pros and Cons of Small Business Loans
- Alternatives to a Small Business Loan
- Frequently Asked Questions (FAQs)
Featured Partner Offers
$5,000 to $250,000
Varies by loan
625
1
OnDeck
Via Ondeck’s Website
$5,000 to $3 million
Varies by product
550
Fora Financial
Expert Review
Our research found that Fora Financial is the best small business loan overall, earning a 5-star rating from our research team. Not only does the lender offer a range of loan types, but borrowing limits are high and loans are accessible to borrowers with limited credit and time in business.
Fora Financial offers small business loans up to $1.5 million with repayment terms up to 24 months —or two years. You must have a personal credit score of at least 570 and be in business for at least six months to qualify—less time than many competitors, but you’ll need to demonstrate at least $240,000 in annual revenue. Still, the low time-in-business requirement makes the lender a good option if you have a newer business. Funding is available in as little as 24 hours after acceptance, and repayments are due daily or weekly.
Fora Financialalso offers business term loans up to $500,000 with lengthy repayment terms up to 12 years. That said, you must have operated for at least two years to qualify, and funding times are slower (up to three business days after approval).
1 West
Expert Review
Our research found that 1 West is the best small business loan marketplace for new businesses, earning a 5-star rating from our research team. The platform makes it easy to apply for unsecured working capital loans from $5,000 to $1 million with a minimum of FICO Score of 500 and just three+ months in business.
Ultimately, you may qualify for up to 125% of your monthly revenue. Repayment terms range from just two to 24 months , and rates start at 18% for unsecured loans, but the platform doesn’t publish maximum rates. Lower rates may be available for other loan types. Loans available through 1 West may be available with a low minimum FICO Score, and the platform’s minimum revenue requirement is also low—just $5,000+ in gross monthly sales
Fundible
Expert Review
Our research found that Fundible is the best small business loan for limited credit, earning a 5-star rating from our research team. The lender requires a minimum credit score of just 500, which is lower than required by many competitors.
Fundible’s small business term loans are available with repayment terms between one and five years. Same-day approval and funding are available, and rates start at 1% per month, which translates to a minimum annual percentage rate (APR) of 12% . Unlike some top lenders, monthly payment options are available, making it a more budget-friendly option if your business lacks a consistent daily sales volume.
National Funding
Expert Review
National Fundingstands out for providing high loan amounts with flexible credit requirements. Loans may also come with customizable daily or weekly repayment terms. If you repay loans in advance, you could qualify for early payoff discounts. National Funding isn’t as transparent with its interest rates and fees as other lenders, so you’ll need to apply to receive their APR quote.
QuickBridge
Expert Review
Our research found that QuickBridge is the best small business loan for an easy application process, earning a 4.6-star rating from our research team. You’ll only need a driver’s license and bank statements to apply, and funds may be available within 24 hours of approval.
Regardless of where your business is located, QuickBridge has you covered, offering financing in all 50 states and Washington, D.C. The lender’s minimum credit score requirement is 600, and you’ll need to demonstrate at least $250,000 in annual sales and at least six months in business. QuickBridgealso offers an early payoff discount but doesn’t disclose fees online. Make sure you understand applicable borrowing costs and savings before committing to a loan.
PayPal Business Loans
Expert Review
Our research found that PayPal Business Loans are the best small business loan for online businesses, earning a 4.6-star rating from our research team. You’ll need to have a PayPal Business account to qualify, with at least nine months in business.
Loans range from $5,000 to $100,000 for first-time borrowers and up to $300,000 for repeat borrowers; loans up to $100,000 may be funded as soon as one business day after approval. There are no late, processing or prepayment penalty fees, and you’ll only pay a one-time, upfront fee rather than a traditional interest rate. Plus, the annual revenue requirement is just $33,300—lower than many other lenders. That said, PayPal business loans require fixed weekly payments, which may not work for all businesses.
SBG Funding
Expert Review
Notably, the lender imposes more restrictive eligibility requirements than some competitors, and you’ll need a FICO Score higher than 600+ and at least $350,000 in annual revenue to qualify. Likewise, SBG Funding’s loans aren’t available to brand new businesses, and you’ll need to operate for at least six months to access financing. Short-term loans are available up to $1 million, with six to 48 months terms and funding in as little as 24 hours. The lender also offers business lines of credit, equipment financing and invoice financing, among other options.
Reliant Funding
Expert Review
Our research found that Reliant Funding is the best small business loan for merchant cash advances (MCAs), earning a 4.6-star rating from our research team. The lender offers qualified borrowers MCAs up to $2 million and funding within .
Loans are available in all 50 states, and you may be able to qualify with a credit score below 500. You’ll also need to demonstrate at least , though you only need three to four months of business bank statements to apply.
Upwise Capital
Expert Review
Our research found that Upwise is the best small business marketplace for long-term loans, earning a 4.5-star rating from our research team. Repayment terms extend from three to seven years, and loan amounts may be available .
To qualify, you’ll need a FICO Score of at least 500. The marketplace boasts an 85% approval rate, but you’ll need to provide four months of your most recent bank statements, demonstrate $200,000 in annual revenue and have at least three months in business. If you’re approved for a loan, funds may be available in as little as two days. Upwise Capital can also help you find a line of credit, working capital loan, equipment financing or Small Business Administration (SBA) loan.
Chase Small Business Loan
Expert Review
While Chase doesn’t disclose its interest rates online, the lender offers interest rate discounts of 0.40% to 1.20% on loans and lines of credit of at least $500,000 if you keep a certain amount on deposit in business banking. That said, Chase small business loanscome with early repayment penalties when you borrow $250,000 or more.
OnDeck
Expert Review
Our research found that OnDeck is the best small business loan for same-day funding, earning a 4.3-star rating from our research team. According to the lender, the application process takes minutes, and you can sign your loan agreement and get funds as soon as the same day for loans up to $400,000.
To qualify, you’ll need a personal FICO Score of at least 625 with at least one year in business and $100,000 in annual revenue—less than required by many lenders. Repayment terms from 12-, 18 or 24 months, and the average APR for OnDeckterm loans is 56.40%, while the lowest rates are reserved for the most creditworthy businesses with strong cash flow.
Comparison: Small Business Loan Lenders
Compare loan amounts and terms from our top picks to find the best small business lender for you.
| LENDER | RATING | MINIMUM LOAN AMOUNT | MAXIMUM LOAN AMOUNT | MINIMUM LOAN TERM | MAXIMUM LOAN TERM | LEARN MORE |
|---|---|---|---|---|---|---|
 Fora Financial
|
|
$5,000 | $1.5 million | 6 months | 2 years | |
 1 West
|
|
$5,000 | $1 million | 2 months | 2 years | |
 Fundible
|
|
Does not disclose | $2.5 million | 1 year | 5 years | |
 National Funding
|
|
$5,000 | $500,000 | 4 months | 2 years | |
 QuickBridge
|
|
$5,000 | $500,000 | 6 months | 1 year | |
 PayPal Business Loans
|
|
$5,000 | $300,000 | 4 months | 1 year | |
 SBG Funding
|
|
$5,000 | $1 million | 6 months | 4 years | |
 Reliant Funding
|
|
$2,000 | $2 million | Not disclosed | 2 years | |
 Upwise Capital
|
|
$25,000 | $20 million | 5 years | 30 years | |
Chase
|
|
$5,000 | $500,000 | 6 months | 5 years | |
 OnDeck
|
|
$5,000 | $400,000 | 3 months | 2 years |
User Opinions of the Top Business Lenders
Forbes Advisor collects user sentiment both directly through NPS surveys and indirectly by collecting user feedback across the internet using the Consumer Sentiment Index (CSI). This is how real users described their opinion of the top small business loan lenders:
| LENDER | CSI | HOW LIKELY TO RECOMMEND | COMMON POSITIVE SENTIMENTS | COMMON NEGATIVE SENTIMENTS |
|---|---|---|---|---|
| Fora Financial | 7.0 | Likely to recommend | Speed of approval process and helpful staff | High interest rates and poor communication |
| 1 West | 5.8 | Somewhat likely to recommend | Helpful and professional customer service | High interest rates and short loan terms |
| Fundible | 9.7 | Very likely to recommend | Not enough information available | Not enough information available |
| National Funding | 7.4 | Likely to recommend | Professional customer service and speed of loan process | High interest rates and poor communication |
| QuickBridge | 7.4 | Likely to recommend | Fast and easy loan process and helpful staff | High interest rates and payment plans |
| PayPal Business Loans | 6.2 | Somewhat likely to recommend | Quick and easy loan applications and loan variety | High interest rates and unclear approval process |
| SBG Funding | 9.4 | Very likely to recommend | Professional customer service | Concerns about lending capabilities |
| Reliant Funding | 6.3 | Somewhat likely to recommend | Efficient service and straightforward process | High rates and unclear terms |
| Upwise | 9.5 | Very likely to recommend | Smooth borrowing experience and good customer service | Non-responsive customer service and dissatisfaction with loan terms |
| Chase | 6.6 | Likely to recommend | Comprehensive offerings | Stringent approval process and poor customer support |
| OnDeck | 5.3 | Somewhat likely to recommend | Convenience and good customer support | High interest rates and poor communication |
How Business Loan Costs Compare Across Top Lenders
Because interest rates significantly impact the overall cost of a loan, compare the interest rates across the top small business loans.
| LENDER | APR RANGE | LATE PAYMENT FEES | PREPAYMENT PENALTIES | LOYAL CUSTOMER DISCOUNT | ORIGINATION FEES |
|---|---|---|---|---|---|
| Fora Financial | 5% to 23% | Yes | No | No | 2.5% |
| 1 West | 6.99% to 18% | Yes | No | No | No |
| Fundible | Starting at 12% | Yes | No | No | 3% |
| National Funding | Not disclosed | No | No | No | No |
| QuickBridge | Not disclosed | Not disclosed | No | No | No |
| PayPal Business Loans | 9.99% to 35% | $20 | No | No | One-time fee |
| SBG Funding | 15% to 25% | Yes | Not disclosed | Yes | Yes |
| Reliant Funding | Not disclosed | Yes | No | Yes | Yes |
| Upwise Capital | 7% to 30% | No | No | Yes | 5% |
| Chase | Not disclosed | $25 | Yes | Yes | No |
| OnDeck | 29.94% to 60% | Yes | No | Not disclosed | 4% |
Compare Business Lenders’ Accessibility and Eligibility Criteria
This table compares eligibility requirements like minimum credit scores and annual revenue requirements, plus application turnaround times.
| LENDER | MINIMUM CREDIT SCORE | ANNUAL TURNOVER TO APPLY | EXISTING CUSTOMER REQUIREMENT | AVERAGE TURNAROUND TIME (DAYS) |
|---|---|---|---|---|
| Fora Financial | 570 | $240,000 | No | 0.5 |
| 1 West | 500 | $60,000 | No | 0.5 |
| Fundible | 500 | $96,000 | No | Same day |
| National Funding | 500 | $200,000 | No | 1.5 |
| QuickBridge | Not disclosed | $250,000 | No | 1 |
| PayPal Business Loans | 580 | $33,000 | Yes | Same day |
| SBG Funding | 600 | $350,000 | No | 0.5 |
| Reliant Funding | 500 | $72,000 | No | 0.5 |
| Upwise Capital | 500 | $250,000 | No | 1.5 |
| Chase | Not disclosed | Not disclosed | Not disclosed | 3 |
| OnDeck | 625 | $100,000 | No | 1.5 |
Tips for Comparing Small Business Loans
When in need of financing, follow the tips below to find the right small business loan options to fit your needs:
Check Credit Requirements
While some lenders allow for personal credit scores as low as 500, you typically need a score of at least 670 to get the most competitive rates on business loans. However, some alternative loan options, like invoice factoring, may offer no-credit-check business loans.
Understand Revenue Criteria
Revenue requirements for loans vary. Lenders generally look for businesses to have at least $100,000 in annual revenue, but higher revenue may help you qualify for better terms.
Review Time-in-Business Conditions
Some lenders offer startup loans. However, you often must be in operation for at least one year to get a business loan. Some lenders may approve businesses in operation for at least six months.
Check Interest Rates
Bank and credit union APRs can range from 7% to 16%, while online lenders may have rates of 10% to over 100%.
Watch Out for Fees
Term loans may charge upfront origination fees, and credit lines may have ongoing draw fees to take into consideration. You may also encounter prepayment fees if you pay off your loan before the final due date.
Compare Loan Terms and Payment Frequency
Loan term lengths may be a few months or several years long, depending on the loan type and lender. Review multiple term lengths and payment options to determine which best meets your needs.
Review Funding Speeds
While bank loans may offer low rates, online small business loans may have fast loan processing speeds. Review the pros and cons of each option.
Look Into Loan Perks
Consider the extra services each lender provides. For example, some lenders offer loan integration to your accounting platform, making it easier to account for debt and repayments.
Small Business Lending Trends
Here are a few points to note about the current small business loan market.
- Business lending credit standards are getting even tighter. The quarterly Federal Reserve’s Small Business Lending survey found that business lending credit standards tightened for the sixteenth consecutive quarter in Q3 2025, the most recent data available. Credit quality also declined, continuing the long-term trend, and about 11% of survey respondents, on net, reported a decrease in applicant credit quality.
- The Fed rate has held steady in 2026. Commercial banks may set short-term business rates using the prime rate, which serves as a base rate closely linked to the federal funds rate (FFR). At both the January and March 2026 Federal Reserve meetings, the FFR was held steady at a target range of 3.5% to 3.75%. The prime rate typically falls after the Federal Reserve cuts its benchmark FFR—which we saw following rate cuts in 2025, but that trend is unlikely to continue unless the Fed rate is decreased at later Fed meetings.
Bank Prime Loan Rate
The bank prime rate, or prime rate, is one of several base rates that may be used by banks to set rates for short-term business loans.
Types of Business Financing
Business funding comes in a variety of forms, from microloans of a few thousand dollars to large loans of $100,000 or more. Common types of loans for small businesses include:
- Term loans. Term loans offer a lump sum to borrowers that can be ideal for major purchases. Loan terms range from a few months to as long as 10 or 25 years, depending on the loan purpose and where you get the loan from.
- Lines of credit. Business lines of credit offer a revolving credit line that can be borrowed against on an ongoing basis during the draw period, which is then repaid during the repayment period. Unlike a term loan, you only owe interest on the amount you draw, not the full credit line.
- Equipment financing. Equipment financing is for big-ticket items like vehicles, office equipment or computers. The equipment may serve as collateral to back the loan, which means the lender could repossess the equipment if you default.
- Invoice factoring. Invoice factoring is the process of selling unpaid invoices to a factoring company to get a portion of the unpaid amount up front. It typically requires a no credit check, so it could be a viable option for business owners with limited credit.
Calculate Your Small Business Loan Payments
As you search for the best small business loans for you, use a business loan calculator to understand your monthly costs and the financial responsibility of each loan offer.
How To Get a Small Business Loan
Applying for a business loan can feel daunting, especially if it’s your first time. Taking the following steps can help you qualify for the best business loan options:
- Review your personal credit. Before shopping for a loan, review your credit score and credit report to see where you stand. If needed, improve your score before applying by repaying existing debt.
- Build business credit. Lenders typically prioritize a business owner’s personal credit, but businesses with good business credit may qualify for better loan terms. You can build business credit by opening business trade or credit card accounts and making on-time payments.
- Gather financial documents. Lenders use business plans and financial documents like profit and loss statements to measure your business’s financial strength. Collecting these before the application process can speed things up.
- Prequalify for loans. Many lenders allow you to prequalify for business financing online. Doing so can help you estimate rates and costs to find the best small business loans without impacting your credit score.
- Choose an offer. Once you have multiple loan offers, review terms and fees to determine the best loan for your goals before completing the full application.
Business Loan Requirements
Minimum qualification requirements vary by lender. However, you’ll typically need to meet the following criteria to get a small business loan:
- Credit score of at least 600; 670 for the most competitive rates
- Minimum one year in business
- Minimum $100,000 in annual revenue
- Proof of business ownership and licenses
- Business plans and financial statements
- A personal guarantee, which means you will be held liable for the loan if your business can’t repay it.
Documents You Need To Get a Business Loan
While application processes vary, some documents a lender may ask you for include:
- Business certificates, licenses and registrations
- Business credit reports
- Business plans
- Deeds to property
- Financial statements (e.g., bank statements, income statements, balance sheets)
- Partnership agreements
- Income tax returns
- Other legal documents (e.g., licensing agreements and commercial leases)
Pros and Cons of Small Business Loans
Anytime you borrow, there are pros and cons to consider before signing a contract. Below are the advantages and disadvantages of taking out a small business loan.
| PROS | CONS |
|---|---|
| Quick funding may be available | Loans with low interest rates tend to have the most strict credit and revenue requirements |
| Collateral isn’t always required | Business owners may be personally liable for debt the business can’t repay |
| Six months in business may be enough to qualify | Loan commitments can drain cash flow |
| A wide range of terms and loan amounts are available (up to 25 years and $10 million, depending on the lender and loan type) | The cost of borrowing could exceed potential business returns |
Alternatives to a Small Business Loan
Aside from small business loans, consider the following options to get financial resources for your business.
- Merchant cash advances. MCAs are advances that you repay with a percentage of future debit or credit card sales. However, factor fees and administrative fees can be expensive.
- Credit cards. Business credit cards may offer quick online applications and near-immediate access to funds. However, interest rates can be high and debt on a high-interest card can be hard to pay off.
- Crowdfunding. Instead of borrowing money, you could try launching a crowdfunding campaign to raise funding from others. Fundraising can reduce borrowing costs while helping you build a community of loyal supporters.
- Personal loans. With a personal loan, only your finances are considered so you don’t have to worry about being in business for a certain amount of time. Before applying, be sure your lender offers personal loans for business use.
- Grants and accelerator programs. Depending on your type of business, you may qualify for a grant to cover startup or growth costs. Some organizations also manage accelerator programs where business owners get funding and mentorship.
Frequently Asked Questions (FAQs)
Where’s the best place to get a business loan?
The best place to get a business loan depends on your qualifications and borrowing needs. If you have very strong credit and high annual sales, consider a traditional bank or credit union, because they typically offer the most competitive rates and repayment terms. However, if you have a new business or lack credit, you may need to work with an alternative or online lender that specializes in startup business loans or business loans for bad credit, since eligibility criteria may be more flexible.
How hard is it to get approved for a small business loan?
It can be hard to get a business loan from a bank. Traditional bank loans tend to have more stringent credit, revenue and business requirements. However, some banks have flexible terms, and alternative lenders may have lower limits for credit, revenue and time in business.
Am I personally liable for a small business loan?
Small business loans often require a personal guarantee, which makes you liable for the loan if your business defaults on payments.
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
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