Loan amounts : $10,000 to $500,000, APR : Buy rates start at 1.11%, Minimum credit score : 600
Type, Credit Score Requirement* ; SBA Loan, Minimums start at 650; 700 is ideal ; Term Loan, Minimums start at 600 ; Line of Credit, Minimums start at 600 ; Invoice Factoring, Typically have no credit score requirement ; Equipment Financing, Minimums start at 520 ; Business Cash Advance, Minimums start at 500
Understanding business loan terms and conditions will help you choose the right financing option for your business. Learn more about your options for small business loans here.
Written by Mandy Sleight , Edited by Pippin Wilbers ; Published on June 27, 2024 | 4 min read
Maybe you took out a loan to get your business up and running, opened a business credit card to help you stock up on inventory and opened up a line of credit to help you buy new equipment. Being in debt to multiple lenders at once can be confusing and complicated, especially when dealing with varying business loan interest rates and fluctuating payments. ...
Understanding business loan terms before you apply can help you decide on the best financing. Here are some typical terms by loan type.
Written by TJ Porter , Edited by Robert Thorpe ; Published on May 02, 2024 | 5 min read
Business loans vary widely with the terms they provide borrowers. Some are shorter term, others are long term. Learn about the average business loan term.
Written by TJ Porter , Edited by Robert Thorpe ; Published on January 24, 2024 | 5 min read
Average business loan rates for the third quarter of 2023 ranged from 5.89% to 12.23%. ; If you have bad credit or are starting a new business, interest rates for small business loans can range from 33% to 99% or higher. ; Before agreeing to any loan, review the terms and interest rates to ensure you understand how much you’ll pay.