Business owners can take out small business loans — anywhere between $500 and $15.5 million — to finance expenses like payroll financing, inventory, equipment and other costs. Repayment terms could be as short as three months or as long as 25 years. Both traditional financial institutions and alternative online lenders offer small business loans.

Yes, bad credit business loans are available for business owners with personal credit scores as low as 500. However, these loans tend to come with higher interest rates and less flexible repayment terms.

A personal guarantee requires you as the business owner to be personally responsible for the company’s debt in case of default. A personal guarantee is fairly common on small business loans because it lowers the risk for a lender. But as the business owner, it may limit any protections your business structure offers.

Online lenders may be the best option to get a startup business loan with no money. Unlike brick-and-mortar banks that often have stricter eligibility requirements, some alternative lenders will work with you after about six months in business. If you can’t find a suitable lender providing business loans for new businesses, you can consider alternative options like crowdsourcing, self-funding or grant funding.

Each lender will have its own criteria based on the loan type. In general, you need a personal FICO Score of at least 500 to get a small business loan. But the lowest business loan interest rates are typically reserved for borrowers with higher credit scores. You can check and monitor your credit score for free with Loan Readiness Program.

Most lenders look for minimum monthly or annual revenue when you apply for a loan. It’s common to expect a minimum annual revenue requirement of $50,000 or more for unsecured loans. However, you may be eligible for a business loan with a lower annual revenue if you can provide collateral.

If you were rejected for a business loan, revisit the reason why. Focus on improving your personal credit and business credit scores. If you haven’t operated in business long enough, wait a bit. In the meantime, consider a small business credit card or a personal loan to access capital for any immediate business needs.

Small business financing is when a business borrows money to help pay for things like supplies, payroll, or growth.

You usually need to show how much money your business makes and provide some basic details, like bank statements.

Some loans are approved in 24 hours, while others may take a few days or weeks.

Not always! Some lenders look at your business income instead of your credit score.

You can use it for almost anything your business needs, like buying inventory, paying rent, or growing your team.

A loan gives you all the money at once. A line of credit lets you borrow only what you need, when you need it.

It depends on your business. Some loans are as small as $5,000, while others go up to $500,000 or more.

Rates vary depending on the lender, your credit, and your business. Some rates start as low as 4%.

Some lenders charge fees, like application or early repayment fees. Always ask about the total cost upfront.

Not always. Some loans are unsecured, which means you don’t have to offer anything, like equipment, as a guarantee.

Yes, but lenders may want to see some income or strong personal credit to approve your loan.

Short-term loans are paid back quickly, usually in 3–18 months. Long-term loans are spread over years.

Talk to your lender if you have trouble. They may offer options like new payment plans.

Apply online by filling out a form and sharing some financial details.

Some lenders let you repay early without penalties. Check before you sign.

Yes, most industries qualify, but some lenders might specialize in certain types of businesses.

It’s a loan that helps you cover daily business expenses like rent, payroll, or bills.

You might need bank statements, tax returns, or proof of income from your business.

Yes, some lenders work with businesses that have poor credit, but the rates might be higher.

If you need money to grow, cover expenses, or solve cash flow issues, financing can help.

Businesses that get paid through invoices, like trucking, staffing, or manufacturing, often use factoring.