Skip to Main Content Small Business Loans: 2024 Review

Updated Feb 26, 2024

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Rating: 4.2 stars out of 5
Bankrate Score
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Rating: 5 stars out of 5
Rating: 3.7 stars out of 5
Customer experience
Rating: 4.1 stars out of 5
Rating: 3.2 stars out of 5
Rating: 5 stars out of 5
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Since 2020,, a marketplace for lenders, has helped over 100,000 small businesses prequalify for business loans. Its lending partners offer short- and long-term business loans, business lines of credit and merchant cash advances.

Lender Details

  • Moneybag

    Loan amount

    $200-$3 million

  • Rates

    Interest rate

    1.03-1.52 Factor rate

  • Clock Wait

    Term lengths

    Up to 36 months

  • Dollar

    Min. annual revenue


  • Business

    Min. time in business


Who is best for is a loan marketplace that matches small businesses with lenders, focusing especially on fast funding. Its partners can provide funds as quickly as the same day you apply. It also offers loans for startups and business owners with bad credit, with personal credit scores of at least 600 recommended. A spokesperson stated that there isn’t an official minimum credit requirement.

Who may not be best for isn’t the best option if you want to know what you’re getting into before you apply. It doesn’t do a great job of giving key loan details online like interest rates or terms, providing just general descriptions about the type of loan. isn’t big on customer support either — it doesn’t offer a dedicated customer service phone line. Since it’s a lender marketplace, you can check whether the lender you’re quoted has a customer service number. in the details pros and cons


  • Checkmark

    Compare loans from multiple lenders

  • Checkmark

    Relaxed eligibility requirements

  • Checkmark

    Quick online application


  • Limited information on its website

  • Potentially high fees

Business loan types offered

Loan quick facts

  • Amounts: $5,001 to $1 million
  • Terms: Not stated
  • Factor rate: 1.03 to 1.52 term loan overview

You may qualify for a business loan with a personal credit score as low as 550. It offers a wide range of loan sizes to meet your needs — many online lenders stop offering loans above $500,000. 

A spokesperson stated that its longest business loan offers terms up to 36 months, which is longer than most short-term loans that only go up to 24 months. 

You will need to sign a personal guarantee. This means that you agree to repay the loan even from personal assets if you default

And while many loans require you to own over half of the company, you can qualify with with just 25 percent ownership. 

You can also get matched with lenders for these business loans from 

  • Business line of credit. business line of credit gives you access to cash to cover small or emergency expenses. Once approved, you can tap funds at any time and pay interest only on the amount you borrow.
  • Merchant cash advance. merchant cash advance is an alternative option that advances cash based on your future sales. You typically pay back the advance from a percentage of sales, though some MCAs offer fixed payments. Payments are on an aggressive daily or weekly schedule.

Do you qualify? isn’t a direct lender, so it doesn’t set minimum requirements for applying. But the business requirements it recommends are lenient. You’re most likely to get matched with a loan if you have:

  • $100,000 in annual revenue
  • 600 personal credit score
  • 6 months in business

To get matched with one of its lenders, you can’t work in these industries:

  • Vice industries
  • Non-profit organizations
  • Government entities
  • Money service businesses
  • Mortgage brokers
  • Firearms dealers

What we like and what we don’t like compares multiple lenders and gives you the best offers to match your funding needs. But it’s not upfront about its loans, lending partners or contact information.

What we like

  • Compare loans from multiple lenders. Rather than comparing lenders one by one, you can compare multiple lenders at once through You get to see options that match your qualifications.
  • Relaxed eligibility requirements.’s recommendations for time in business, credit score and revenue are lenient. 
  • Quick, online application. You can apply online in minutes by answering basic questions about your business and funding needs. You may need extra documentation once you get matched with a lender.

What we don’t like

  • Limited information on its website. showcases the bare minimum about its loan options online. It also provides a contact number in its disclosures but doesn’t list a dedicated customer service number anywhere else on its site.
  • Potentially high rates. Interest rates could go as high as 99.99 percent. Plus, some partners may charge a factor rate for some loans. Factor rates are known to convert into a high interest rate. 


How compares to other lenders doesn’t set minimum requirements. Its recommended minimums are lenient, though, thanks to partners that accept startups and those with bad credit. But it’s not as transparent about loan details as other loan marketplaces.   

Rating: 4.2 stars out of 5

Bankrate Score

  • Loan amount

    $200-$3 million

  • Interest rate

    1.03-1.52 Factor rate

  • Term lengths

    Up to 36 months

  • Min. time in business


  • Min. business annual revenue


Rating: 4.6 stars out of 5

Bankrate Score

  • Loan amount

    $1,000-$10 million

  • Interest rate


  • Term lengths

    3 months-25 years

  • Min. time in business

    6 months

  • Min. business annual revenue


Rating: 4.7 stars out of 5

Bankrate Score

  • Loan amount

    $5,000-$10 million

  • Interest rate

    0.75% Monthly rate | 5.00% to 18% Simple interest

  • Term lengths

    1-10 years

  • Min. time in business

    6 months

  • Min. business annual revenue


Read our review

on Bankrate vs. Lendio

Lendio offers an extensive marketplace of over 75 lenders. You can find a variety of small business loans, from term loans to SBA loans and accounts receivable financing. Its fastest funding time is by the next business day, similar to’s same-day funding. 

But Lendio offers much more information about each type of loan, including a range of loan sizes, terms and interest rates. also doesn’t tell which or how many partner lenders it has. vs. Fundible

Fundible is a direct lender, but it also offers some loans through a lending network. It offers more loan choices than, including term loans, lines of credit, equipment loans and SBA loans. 

Fundible does set business requirements, unlike — which only recommends criteria that will help business owners get approved. Fundible works with business owners who have a minimum of six months in business, a FICO score of 450 and $96,000 in revenue. recommends having at least six months in business, a personal credit score of 600 and $100,000 in revenue. 

Fundible is more transparent about its loan information online and provides helpful customer service to answer any questions.

How to apply for a loan with 

You can apply for a loan within minutes online. Once you start your application, you’ll provide this basic information:

  • Type of business entity
  • How much funding you need
  • Purpose for loan
  • Business name and start date
  • Annual revenue
  • Personal credit score
  • Industry
  • ZIP code
  • Business owner’s contact details frequently asked questions

How Bankrate rates

Overall Score 4.2
Accessibility 5.0 can match business owners with lenders, even with bad personal credit or little business revenue.
Affordability 3.7 Some partners charge high interest rates or factor rates, based on the loan and your business’s creditworthiness.
Transparency 3.2 It doesn’t disclose a range of interest rates, terms and other loan details on its website.
Customer experience 4.1 It doesn’t provide a customer support number so that you can get application questions answered.
Flexibility 5.0 You can apply for several types of business loans and compare multiple lenders in one place.


Clock Wait
years in business
Credit Card Search
lenders reviewed
loan features weighed
data points collected

To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.