If you have less than two years’ history of operating your business, lenders will typically classify you as a startup. Because they know that startups have a high failure rate, it can be difficult to get approved for a loan. To help increase your chances of getting funding, I’ve researched dozens of lenders and selected those willing and able to offer loans to newer companies. My picks for the best startup loans have a combination of fast funding speeds, excellent customer service, flexible qualification requirements, and competitive rates and terms.
Best startup loans at a glance
Lendio: Best overall for multiple loan options
I chose Lendio as the best overall option because of the number of loan programs it has. It’s a business loan broker with more than 75 lenders in its network, which means you’ll have plenty of chances to get approved at the best available rates and terms. When working with Lendio, you’ll get a dedicated loan advisor who will match you with the most suitable lenders and loan programs based on your business needs and circumstances.
Lendio offers a specific program for startup financing. Available financing types include a business credit line, equipment financing, revenue-based financing, and invoice factoring. It also offers Small Business Administration (SBA) loans, term loans, cash advances, commercial mortgages, business credit cards, and business acquisition loans.
With Lendio, you can submit an online application in just minutes. Doing so will have no impact on your credit score and carries no monetary cost to do so. After your submission, you will then work with a loan specialist to determine your options and eligibility. Plus, you can even get funding on the very same business day, a feature that helped it make our list of the best same-day business loans.
How to qualify
- Credit score: 600+, but may vary by program and lender
- Time in business: 6 months
- Annual revenue: $96,000
Rates & terms
- Starting rates: Not stated
- Loan amount: $5,000 to $10 million
- Repayment term: Up to 5 years
- Repayment frequency: Varies
- Funding speed: As fast as same day
Bluevine: Best line of credit for flexible access to funds
If you’re looking for flexible access to funds, I think that a credit line with Bluevine is an excellent option. With a small business credit line, you can continuously draw funds on an as-needed basis up to your credit limit, without needing to reapply for another loan. This makes it fantastic for covering emergencies or unexpected shortages in cash flow. Notably, Bluevine also made our list of the best business line of credit providers for 2025.
When paired with a Bluevine Business Checking account, its line of credit gives you instant access to funds — much faster than other banks, which typically require 1-2 business days before you can use funding from a credit line. It also has options for weekly and monthly repayments, although the eligibility criteria for its monthly payment plan are more difficult to meet. Before applying, however, note that Bluevine may not be able to lend in certain industries, such as gambling, auto dealerships, firearms, and more.
Applying with Bluevine is something that can be done online in just a few minutes. There’s no impact to your credit score, and once approved, you can get access to funds instantly with a paired Bluevine Business Checking account. Even without the checking account, you can still get access to funds within 24 hours.
How to qualify
- Credit score: 625 (700 for monthly repayment plan)
- Time in business: 12 months (36 months for monthly repayment plan)
- Annual revenue: $120,000 ($960,000 for monthly repayment plan)
Rates & terms
- Starting rates: 7.8%
- Loan amount: Up to $250,000
- Repayment term: 12 months or 52 weeks
- Repayment frequency: Weekly, monthly
- Funding speed: Instant (with a Bluevine Business Checking account), or 24 hours
National Funding: Best for customer service
If you want white glove service, look no further than National Funding. As a company, National Funding places a large emphasis on providing premium service levels, and that’s reflected in its 4.7-star rating on Trustpilot with over 2,000 individual reviews. Beyond just providing great service, however, National Funding is also a great choice for businesses worried that they might not qualify, as the company considers all of its applications on a case-by-case basis, retaining the majority of its loans in-house to allow for the greatest level of flexibility and discretion in credit reviews.
National Funding focuses most of its business on short-term loans and does its best to incentivize companies to pay off loans more quickly. As an example, it offers an early payment discount of up to 7% of the remaining balance for loans paid off within 100 days of the funding date. Available loan programs include equipment financing, equipment leasing, and small business loans, where funds can be used for nearly any business-related purpose, such as inventory, payroll, marketing, or taxes.
You can visit the National Funding website to learn more and to apply. One of the things I also love about this company is that its documentation requirements are typically easier than most other companies.
How to qualify
- Credit score: 600
- Time in business: 6 months
- Annual revenue: $250,000
Rates & terms
- Starting rates: Factor rates as low as 1.11x
- Loan amount: $5,000 to $500,000
- Repayment term: Up to 18 months
- Repayment frequency: Daily, weekly
- Funding speed: 1 to 2 days
Clarify Capital: Best for fast funding
With instant approval and funding within 24 hours, Clarify Capital is a great go-to if you need funds now. While some other lenders may also offer fast funding speeds, Clarify Capital carries lower credit score requirements for many of its loan programs. Additionally, it’s a business loan broker with over 75 lenders in its network, which means it can provide you with many options for loan types, programs, and lenders.
Clarify Capital offers several loans that can offer fast approval and funding speeds. Some examples include term loans, business credit lines, invoice financing, and merchant cash advances. As with most business loan brokers, working with Clarify Capital means you’ll get the guidance of a dedicated loan advisor to ensure you pick the loan best suited for your needs. And, with a 4.9-star Trustpilot rating through more than 500 reviews, it’s clear that customers feel the company does a great job of doing so.
Applying online is a quick process that can be done in as little as two minutes. And with no impact to your credit score and no upfront fees, it’s a risk-free process to see what you might be able to get.
How to qualify
- Credit score: 500, but may vary by loan program
- Time in business: 6 months, but may vary by loan program
- Annual revenue: $120,000, but may vary by loan program
Rates & terms
- Starting rates: APRs starting at 6%
- Loan amount: $10,000 to $5 million
- Repayment term: 6 months to 2 years
- Repayment frequency: Varies
- Funding speed: As fast as 24 hours
SBG Funding: Best custom loans
For loan repayment terms outside of the standard daily, weekly, bi-weekly, or monthly cycles, SBG Funding is worth considering because it offers custom payment options tailored to your company’s specific needs. It could include deferred payments for up to three months or even bi-monthly or seasonal payments.
Custom payment options offered by SBG Funding can be a great way for companies with cyclical or unpredictable revenue cycles to find a way to manage debt obligations. It also boasts a high overall loan approval rate of 85%, which means you’ll have a good chance of getting approved — as long as you meet the minimum requirements. With that being said, however, I recommend having strong compensating factors to offset any weakness in your application.
SBG Funding offers term loans, credit lines, equipment finance, invoice financing, and more. You can also apply online with no impact on your credit score.
How to qualify
- Credit score: 550, but may vary by loan program
- Time in business: 6 months, but may vary by loan program
- Annual revenue: $180,000, but may vary by loan program
Rates & terms
- Starting rates: Varies
- Loan amount: Up to $5 million
- Repayment term: Varies
- Repayment frequency: Varies
- Funding speed: Within 24 hours of approval
Smarter Finance USA: Best for equipment financing
If you need funds to get business equipment, but are worried that you might not qualify, Smarter Finance USA is a must for you to consider. It’s the only provider on our list with no minimum requirements for time in business, credit score, or annual business revenue. Instead, it takes a holistic case-by-case approach to each and every application to determine its strengths for the best chances of approval.
You see, Smarter Finance USA is a broker with around 40 lenders in its network. This means that with just a single application, you get the help of a lending specialist on the Smarter Finance team, who will then review your qualifications and do their best to find a lender willing and able to issue funding. Now, although there are no minimum requirements, I would recommend a minimum credit score of at least 600 to broaden your financing options.
Visit the Smarter Finance USA website to learn more or to apply. Financing is available for nearly any business equipment, including commercial vehicles and heavy machinery such as trucks, bulldozers, backhoes, and cranes.
How to qualify
- Credit score: None, but 600 is recommended
- Time in business: None
- Annual revenue: None
Rates & terms
- Starting rates: 10%+
- Loan amount: $10,000 to $1 million
- Repayment term: 2 to 5 years
- Repayment frequency: Weekly, monthly, seasonal, deferred
- Funding speed: 1 to 4 days
My methodology
In selecting the best business startup loans, I focused on criteria that would provide the most benefits for new business owners. This included flexibility of qualifications, competitiveness of rates and terms, funding speeds, customer reviews and ratings, and loan programs offered.
- Flexibility of qualifications: As a startup, getting a loan can be challenging without much of a track record of success. For this reason, lenders with easy or flexible eligibility criteria were considered quite favorably in my evaluation.
- Rates & terms: I considered the competitiveness and flexibility in the rates and terms offered by a lender, including the frequency of repayment, interest rates, and total costs involved with getting the loan.
- Funding speeds: A lender’s ability to quickly approve and disburse funds was another key factor in my selection of the best business startup loans, as this can be especially important if a company needs funds quickly to move forward with a business venture or purchase.
- Customer reviews & ratings: A lender’s reputation with its past clients can give a great indication of how it may treat future customers.
- Loan programs offered: Since each business may have varying needs, lenders that offered a wide range of loan programs were viewed more positively than those who only offered a small handful of loans.
Alternatives
If you’re unable to get or find a loan that’s suited for your needs, you still have other options to get money. Borrowing funds from a lender isn’t the only option available. You can consider getting funds from friends and family, tapping into your own retirement savings with a Rollover for Business Startups (ROBS), or applying for a personal loan for business purposes.
- Friends and family: If you have friends or family who are willing and able to invest in your business, it can be a great way to circumvent the typical qualification requirements of a lender. Plus, you could get away with more beneficial rates and terms.
- Rollover for Business Startups (ROBS): A ROBS is a way to use your own retirement funds tax and penalty-free, but there are a number of regulations you’ll need to consider to avoid being slapped with fines and penalties. Learn more about it in our ROBS guide.
- Personal loan for business purposes: If you’re unable to qualify for a business loan due to your company’s credit or finances, you might still be able to use your personal credit and finances for a personal loan. Just make sure that there are no restrictions on how you are allowed to use the loan proceeds.
Frequently asked questions (FAQs)
Is it difficult to get a business startup loan?
Yes, it can be difficult to get a loan as a startup because lenders know that newer companies have a high failure rate. There are lenders that specialize in funding startups, but be aware that you may not qualify for the lowest advertised rates and fees until you have a longer track record of success as a company.
How quickly can I get a business startup loan?
It typically takes between 2 and 5 days to get a business startup loan. This depends on the complexity of your business finances, the lender you choose, and the loan program you’ve selected.
What are the qualification requirements for a business startup loan?
Common business loan requirements include your credit score, time in business, and annual business revenue. While these will vary based on the lender and loan program you’ve chosen, you should have an easier time getting approved with a credit score of at least 650, six months time in business, and an annual business revenue of $100,000 or more.
