Rapid Finance may be the golden ticket to business financing if you have limited or damaged personal credit.

Why We like it
Rapid Finance has no credit score requirement, as long as applicants pass other eligibility criteria, including repayment ability, time in business and annual revenue, among others. In addition to this, we like that Rapid Finance charges no late or prepayment penalty fees.

Why We Don’t Like It
Businesses must make at least $200,000 $200,000 in annual revenue to qualify for a Rapid Finance loan. Interest rates may also be high compared to other lenders.

Who It’s Best For
Rapid Finance business loans are best for business owners running an established business with reliable revenue streams but who don’t have the credit history to qualify for other loans.

Eligibility

• Minimum credit score: None
• Minimum annual revenue: $200,000
• Required time in business: Six months

Funding Speed
Funding can happen as quickly as the same day.

If you’re looking for competitive interest rates and sufficient loan amounts, TD Bank may be the right choice for your business.

Why We Like It
TD Bank loans have flexible eligibility criteria for a brick-and-mortar institution, making it a good bank loan option for growing businesses with low annual revenue. TD Bank’s lack of origination fees is another advantage for business owners on a tight budget.

Why We Don’t Like It
TD Bank business loans may have prepayment penalty fees if you pay the loan off early, which isn’t ideal if you want to expedite your repayment. What’s more, if you need more than $250,000, you’ll have to apply in person.

Who It’s Best For
TD Bank business loans are best for new business owners with fair credit who are shopping for a competitive interest rate.

Eligibility

• Minimum credit score: 615
• Minimum annual revenue: $40,000
• Required time in business:None

Funding Speed
Funding may be available in as little as two days.

Regardless of where you’re business is located, QuickBridge has you covered, offering financing in all 50 states.

Why We like it
QuickBridge accepts low credit scores and provides multiple payment options, including daily, weekly, bi-weekly and monthly terms. It also funds loans within 24 hours of approval.

Why We Don’t Like It
Factor rates starting at 1.11 at QuickBridge may be equivalent to annual percentage rates (APRs) starting at 20%. Since factor rate loan costs are typically bundled into the loan, paying it off early doesn’t usually lower your financing costs. However, QuickBridge may offer an early payoff discount.

Who It’s Best For
QuickBridge is best for borrowers with limited credit. However, borrowers must pay careful attention to fees to ensure payments and long-term costs are manageable.

Eligibility

• Minimum credit score: 600
• Time in business: six months
• Minimum revenue: $250,000 per year

Turnaround time

You can apply and receive a decision from QuickBridge on the same day.

Many online business loans charge an origination fee, but Bluevine doesn’t, making it an excellent opportunity for cost-conscious borrowers.

Why We Like It
Bluevine is a QuickBooks lending partner, so QuickBook users can apply for Bluevine loans within their QuickBooks profile using accounting data. This could expedite the funding process. What’s more, borrowers can avoid costly fees through Bluevine.

Why We Don’t Like It
APRs on Bluevine term loans may be high for borrowers who don’t have strong credit.

Who It’s Best For
Bluevine term loans are best for QuickBook users and other borrowers with high credit scores looking to avoid loan processing fees.

Eligibility

Eligibility varies on the specific program a business owner chooses.

Weekly plan

• Minimum credit score: 625
• Time in business: Less than one year
• Minimum revenue: $40,000 monthly or $480,000 annually
• Business type: Corporation or LLC
• Bankruptcies: No past bankruptcies

Monthly plan

• Minimum credit score: 700
• Time in business: Three years
• Minimum revenue: $80,000 per month or $960,000 annually
• Business type: Corporation or LLC

Turnaround time

After you submit your application, you can receive a decision in as quickly as five minutes and instant funding with a Bluevine business checking account. Borrowers who don’t have a Bluevine business checking account can receive funds within 24 hours.

Consumer Sentiment Index

• Overall rating:?2.4/5?— Neutral

Based on 6,300 customer insights and reviews for the entire category.

Bluevine’s borrowers reported quick application processes and funding times, but many were also disappointed with their experiences. Some customers noted that the customer service was unresponsive and that there were technical issues during the application process.

Disclaimer: The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.

National Funding is a suitable pick for borrowers who want to avoid carrying debt for a long period since loan terms can be as short as six months.

Why We Like It
National Funding stands out for providing high loan amounts with flexible credit requirements. Loans may also come with customizable daily, weekly or monthly repayment terms. If you repay loans in advance, you could qualify for early payoff discounts.

Why We Don’t Like It
National Funding isn’t as transparent with its interest rates and fees as other lenders. Prospective borrowers must apply first to receive their APR quote.

Who It’s Best For
National Funding short-term business loans are best for borrowers who need money to fill temporary gaps and want the opportunity to choose flexible payment options.

Eligibility

• Minimum credit score: 600 (575 for equipment financing)
• Time in business: Six months
• Minimum sales: $250,000 per year

Turnaround time

Most loans are funded within 24 hours of approval, subject to receipt of required documentation, underwriting guidelines and processing time by your bank.

OnDeck, funding over 150,000 businesses since 2006, is sound choice for anyone who wants to work with a company that has a longstanding history in the business lending space.

Why We Like It
OnDeck does not require a hard credit check, so you can avoid taking a credit hit when borrowing. It’s also requires only $100,000 in annual revenue.

Why We Don’t Like It
While starting APRs for OnDeck loans are low, the lowest rates are only for the most creditworthy borrowers. The average ARPs for its term loans is 57.9% APR.

Who It’s Best For
OnDeck business term loans are best for established business owners who can qualify for the competitive interest rates.

Eligibility

• Minimum credit score: 625
• Time in business: One year
• Minimum revenue: $100,000 per year

Turnaround time

You can apply and receive a decision from OnDeck on the same day.

Consumer Sentiment Index

• Overall rating:?3.1/5?— Satisfied

Based on 6,300 customer insights and reviews for the entire category.

Some customers praised the lender for its quick and straightforward lending process, while others complained of high interest rates and feeling misled about rates and fees.

Disclaimer: The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.

Chase small business loans are a solid option for business owners looking to double down on the bank’s full suite of products and services.

Why We like it
Chase offers interest rate discounts of 0.4% to 1.2% on loans of at least $500,000 if you keep a certain amount on deposit in business banking. It also has no annual revenue requirement as long as you meet credit factors and have enough net income to make payments.

Why We Don’t Like It
Chase small business loans have early repayment penalties when you borrow at least $250,000. There’s also no online application, so you have to apply in person.

Who It’s Best For
Chase small business loans are best for business owners who want to take advantage of Chases full suite of products. Pair Chase loan products with business banking and business credit cards and you could unlock extra perks like rewards points and rate discounts.

Eligibility

• Minimum credit score: Does not disclose
• Minimum annual revenue: Does not disclose
• Required time in business: Two years

Funding Speed
Funding may be available within one to two days.

Online business owners with low revenue can turn to PayPal business loans to tap into necessary financing.

Why We like it
We like that PayPal business loans charge no late, processing or prepayment penalty fees. Plus, the annual revenue requirement of $33,300 is lower than many other lenders.

Why We Don’t Like It
PayPal’s offers only weekly payments, which may not work for all businesses. Say you receive most client invoice payments at the end of each month. In this case, you could have cashflow trouble keeping up with mid-month payments.

Who It’s Best For
PayPal business loans are best for online businesses less than a year old, especially those that already use PayPal. Existing PayPal business users may be able to speed through the application process.

Eligibility

• Minimum credit score: 580
• Minimum annual revenue: $33,300
• Required time in business: Nine months

Funding Speed
Funding available the next business day.

Kapitus is a solid choice for businesses owners looking to borrow $1 million or more with low rates and flexible repayment terms.

Why We Like It
We like that Kapitus charges no prepayment penalties and offers low starting interest rates. Plus, applicants may receive as many as six offers through one application to compare before finalizing the deal.

Why We Don’t Like It
Kapitus loan terms are limited to two years, so if you borrow a large sum, you’ll likely have high payments.

Who It’s Best For
Kapitus is best for business owners with good credit and multiple years of business history who need large loan amounts to grow or expand their operations.

Eligibility

• Minimum credit score: 650
• Time in business: 2 years
• Minimum revenue: $180,000
• Turnaround time: Next day

Consumer Sentiment Index

• Overall rating:?3.9/5?— Satisfied

Based on 6,300 customer insights and reviews for the entire category.

Kapitus’s borrowers often had positive experiences with the lender, noting the quick and efficient funding process and the helpful customer service. Nonetheless, there were some customers who had concerns about the high interest rates and fees.

Disclaimer: The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.

Bank of America has big bank perks and low interest rates, ideal for existing customers with good credit looking for a deal. Branches are available nationwide.

Why We like it
Bank of America offers loan terms of up to five years, giving you the option of an extended payoff timeframe. It’s also a traditional bank that provides online applications and in-person service.

Why We Don’t Like It
Bank of America’s loan process isn’t quick. The turnaround time for a loan may take as long as a month.

Who It’s Best For
Bank of America unsecured business loans are best for borrowers with good credit who want to work with a well-established bank that offers exclusive benefits and interest rate discounts for preferred members.

Availability
Bank of America offers auto loans in all 50 states as well as Washington, D.C.

Turnaround time
Bank of America typically offers funding within one business day.

Credit requirements
Bank of America requires a minimum credit score of 580.