Qualifications That Are More Simple ; Get Cash When You Need It ; No Assets, No Worries ; Keep things distinct.
OnDeck ; Loan amounts · $5,000 to $250,000 ; APR range · Varies by loan ; Minimum Credit Score · 625
Pros · Bank loan with competitive interest rates. No collateral required. Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks. ; Cons · Can be slow to fund. Prepayment fees may apply to early repayments. Must be an existing Bank of America customer to apply online.
Best unsecured business loans ; Best for variety of financing options: Credibly ; Best for line of credit: Bluevine ; Best for short-term loans: Funding Circle ; Best for microloans: Kiva
Features & Benefits ; Simplified Application & Decisioning Process ; No Collateral Required ; Easy Funds Access ; Convenient Repayment Terms
, Prime Line Secured Line of Credit, BusinessLine Unsecured Line of Credit ; Loan amount, $100,000 to $1 million, $10,000 to $150,000 ; Fees, 0.50% origination fee of line amount, $95 annual fee for lines up to $25,000. $175 annual fee for lines over $25,000. First-year fee waived. Cash advance fee up to 4%. ; Minimum credit score, Undisclosed, 680
Lender, Unsecured loan type, Top features ; Bank of America, Business line of credit, Interest as low as 10.00% No fees for cash advances Funding may take a week or more ; Wells Fargo, Business line of credit, No draw fees Annual fee waived the first year Rewards program with Mastercard Access card Funding may take a week or more ; PNC Bank, Small business loan, Payments automatically deducted from PNC business checking account 2- to 5-year terms Funding time typically takes 1 to 5 days
Pros ; Noble Funding representatives provide a quick initial estimate for funding, so you know immediately whether or not the company can meet your needs. ; The lender offers a variety of loan types. ; The company forgoes many of the fees that other financing providers charge.
APR Range · Prime + 4.50% and Prime + 6.50% ; Loan Amounts · $5,000 to $50,000 ; Loan Term Length · 60 months
Fundbox ; TD Bank ; Bluevine ; Rapid Finance ; Biz2Credit