Top 6 Best Business Loans Companies

If you need money for new equipment, inventory purchases or expanding your business, there are numerous financing options available. Popular business financing types include SBA loans, term loans, lines of credit and alternative lending sources.

Traditional banking can offer faster approval processes and fewer stringent requirements. To help you find the ideal business loan, we've compiled this list of the top six most promising options.

1. Bluevine

Bluevine is an established business loans provider offering various financing options such as lines of credit and invoice factoring. Their easy application process takes only two minutes, with funds typically disbursed within 24 hours.

Bluevine, like other online lenders, requires basic information about your business and current debt obligations. They'll also require to view at least three months' worth of bank statements. Finally, Bluevine performs a soft credit check that does not affect your credit score.

A company's revolving line of credit works much like a credit card, providing access to additional funds as you pay off the outstanding balance. You can take out however much or little you need and the interest rate on draws typically lowers that of traditional business loans.

This type of financing is ideal for businesses that require short-term capital to fund growth or cover expenses while they wait for payments from clients. It also serves business owners who must cover inventory purchases or make payroll as they work towards expanding their company.

Bluevine's eligibility requirements are more stringent than those of other online lenders, such as having two years in business to qualify for a Flex 6 line of credit and monthly revenue of at least $40,000 to receive a Flex 12 loan from them.

2. Credibility Capital

Credibility Capital is a bank-backed lender that offers business loans at lower interest rates than other lenders. Their loans come in sizes ranging from $25,000 to $350,000 and feature flexible terms with various payback periods.

Applying for a Credibility Capital loan is simple with their website's straightforward digital application process. All they need from you is some basic information about your business, along with how much funding is necessary and how it will be used. Once submitted, Credibility Capital will do both a soft credit pull and hard credit pull to confirm whether or not you meet all eligibility requirements.

Once the underwriting team approves your application, you'll receive a final offer. After signing it, Credibility Capital will send the funds directly to your business.

Term loans are an ideal solution for businesses in need of swift, cost-effective capital to expand. They're easy to apply for and typically funded within three days - making them a great choice for entrepreneurs on the go!

They offer a range of payment options, such as fixed monthly payments and one-time origination fees. Plus, if you pay off your loan early, there won't be any prepayment penalties to deal with.

Credibility Capital has earned high ratings from Trustpilot and the Better Business Bureau. They're known for offering transparent, low-APR business loans and being communicative throughout the application process.

3. Fora Financial

Since 2008, Fora Financial has offered working capital solutions to small businesses across America. With over $2 billion in loans provided to thousands of customers since its founding, this lender has become an indispensable resource for entrepreneurs and small business owners alike.

Fora offers short-term business loans that can be used for any expense a business might incur. Their loan terms are no longer than 15 months and don't require collateral or personal guarantees. Furthermore, their application process is straightforward with minimal paperwork needed and they provide swift funding - often within just one day!

This application is simple and only requires basic information, like business contact details, monthly revenue figures and any commercial property details. Furthermore, you will need to supply bank statements from the past three months in order to complete it.

Another major advantage of Fora is their policy not to perform a hard credit pull until after approval - an excellent feature for short-term borrowers. Furthermore, the company ensures real time monitoring of your loan activity.

They also provide a prepayment discount on short-term loans and merchant cash advances, which can be substantial. These discounts could reduce your interest costs by as much as $0.10 per dollar invested.

The minimum loan amount they offer is just $5,000, which is lower than many of their competitors' requirements. Furthermore, their minimum time in business requirement of six months is one of the more accommodating requirements among lenders.

4. Noble Funding

Business loans can be an ideal solution for small business owners seeking to increase cash flow. Not only do they cover short-term expenses and pay off high-interest debt, but they offer competitive rates as well. Nonetheless, entrepreneurs must exercise caution when selecting a lender.

Thankfully, there are a few lenders that prioritize customer service over shady tactics. Noble Funding, a Florida-based company established in 2005 and accredited by the Better Business Bureau with an A+ rating and nearly 200 positive reviews on Trustpilot, stands as an example.

Noble Funding offers long-term business loans ranging from $75,000 to $500,000 with terms spanning three to five years. To qualify, applicants must have a minimum credit score of 650, positive net income and no prior bankruptcies. Once approved by the lender within two or three days, funds are typically disbursed shortly afterwards.

Another option is a short-term bridge loan, which can range from $100,000 to $2 million and don't need collateral or personal guarantee. These loans have quick approval rates too - often within 24 hours!

This loan is ideal for newly or established businesses that have been open at least 18 months. Furthermore, the business must have high revenue and a credit score of 650 or higher is recommended.

Noble Funding offers business loans and working capital to assist small businesses expand and flourish. They have six different loan types with flexible terms and competitive interest rates. Furthermore, the company's representatives are friendly and quick to answer queries or resolve problems quickly.

5. SBG Funding

SBG Funding offers a selection of business loans, such as term loans, lines of credit and equipment loans. Furthermore, they offer SBA 7(a) loans and bridge capital funding.

SBG Funding stands out from many other lenders by not requiring collateral to secure your loan. This makes them a great option for borrowers who may have trouble receiving approval from traditional bank lenders.

SBG Funding not only offers term loans, but they offer equipment financing, invoice factoring and a line of credit as well. Furthermore, SBG Funding provides bridge capital funding for businesses facing short-term cash flow difficulties.

SBG Funding's approval rates for term loans are impressive, usually made within 24 hours. Furthermore, their interest rate on these loans is lower than other providers and you have the option to make your payments biweekly or monthly.

SBG Funding can assist your business with up to 100% financing of equipment purchases. Use your funds for anything from machines and tools to office furniture and supplies - SBG Funding makes it easy!

SBG Funding's term loans feature fixed repayment periods that are generally longer than those offered by other companies and no prepayment penalties. This makes them ideal for borrowers who lack the capital to pay off the entire loan at once.

SBG Funding is an online lender offering lines of credit, term loans, SBA 7(a) loans, equipment financing and bridge capital. With a Trustpilot rating of 4.9 stars out of 5, SBG has earned an A+ rating from the Better Business Bureau as well.

6. Rapid Finance

If you're a small business owner in need of speedy funding, Rapid Finance could be the ideal solution. Their turnaround time is quicker than many other lenders', with funds deposited into your business bank account within 24 hours after approval.

The company provides a range of funding options, such as merchant cash advances and short-term loans, to help cover unexpected expenses.

Rapid Finance also provides lines of credit, which function like a credit card. You receive an amount and can use it however needed; however, you must pay back the balance in daily, weekly or monthly installments.

Applying is a relatively straightforward process: apply online or over the phone, provide your business tax ID and bank statements from the past three months, then wait for them to do a tender credit pull and ship you an initial offer.

If you accept the offer, your business will undergo a hard credit pull as part of the underwriting process. After that is completed, you should receive an official offer within six hours.

Overall, Rapid Finance boasts an excellent reputation and numerous positive customer reviews. They offer a wide selection of products, speedy funding times and relaxed eligibility criteria. Overall, Rapid Finance has earned itself a great reputation.