Pros : Offers a higher funding amount at $500,000 · No-cost application, Cons : High annual sales requirement to qualify for the loan
$5k- $5M ; Interest rate ; 1 business day ; Interest rate · 1.03 - 1.52 Factor Rate ; Fastest funding · 1 business day
Avant · Short-term loans · 9.95% - 35.99% · 12 to 60 months · $2,000 - $35,000 · Unspecified · 600 or higher for the best chance of approval
Best unsecured business loans ; Best for variety of financing options: Credibly ; Best for line of credit: Bluevine ; Best for short-term loans: Funding Circle
BusinessLoans.com ; Loan amounts · $5,000 to $3,000,000 ; APR range · Varies by product ; Minimum Credit Score · 550
Building a business from the ground up is full of challenges. The best startup business loans for bad credit can help owners facing these obstacles.
Key takeaways ; Unsecured business loans are types of business loans that do not require collateral ; Lenders are more selective when it comes to offering some types of unsecured business loans and may require a personal guarantee or UCC lien ; Unsecured business loans can come in the form of term loans, business lines of credit, invoice factoring, and merchant cash advances
APR Range · Prime + 4.50% and Prime + 6.50% ; Loan Amounts · $5,000 to $50,000 ; Loan Term Length · 60 months
Pros · Cons · Additional Information ; Pros · Cons · Additional Information
Best Bad Credit Loans ; Best for small loan amounts: Upgrade Personal Loan ; Best for easy qualification: Avant Personal Loan ; Best for low credit scores: LendingPoint Personal Loan