Best Small business loans in 2024 (And our top choice)

Our Choice: National Business Capital

Best overall: suited for all credit profiles, low rates, and fast funding.

Started in 2009 with headquarters in the New York State, National Business Capital is a corporation functioning as a network of lenders, rather than being a lender in itself: it is a top “FinTech” marketplace offering varied business loans solutions and a complete range of services, all aimed to the growth of your business. Exploiting technology, you will be connected to 75+ lenders in real-time, so that you can have easy access to the best low-interest loans, with available longer terms that you usually would find elsewhere; you can also count on expert business financing advisors who will be at your side whenever you need.

Why choosing National? Because you can have the flexibility to compare offers from multiple lenders with a single simple and fast application and there are no restrictions as for the industry you are in; besides, you have a multitude of products that can suit the most varied needs, you are readily assisted by a competent and friendly staff, and may be funded within 24 hours.

Your application is submitted to multiple lenders who will make their offers, based on your information including business industry, its age, and revenue, with a soft credit score check: all this will ultimately determine eligible loan amounts and terms. The company can’t declare APR or fees, because they will depend on the lender who can accept your status. With the final application, you will eventually be required more information from the lender of choice, such as profit and loss statements or a business plan.

National commits to respecting your privacy since more parties will share your personal details; anyway, by compiling the first form you won’t have to submit sensitive data, such as Social Security Number or home address.

A thing you won’t easily find in other companies is that lenders who are connected to National Business Capital can grant loans to whatever your industry, even to on the rising cannabis.

Besides the conventional term loan, the company offers a range of other financial products such as revolving lines of credit, fast SBA loans, cash advances, invoice factoring, and equipment financing. This makes it one the most comprehensive business loans lender on the market, to the benefit of business owners who have more than just one need during their career.

In general, for qualifying with National you will need: 6+ months in business, $100K in annual gross sales, no minimum credit (FICO) score requirement.

Depending on the single product, there are slightly different conditions. Here is a sheet of what you will find.

ProductLoan amountsTermsMin. requirements
Term loan$10,000-$5,000,0006 months-10 years$120,000 revenue, 3 months in business, none for credit score
Business line of credit$10,000-$5,000,0006 months-10 years$120,000 revenue, 3 months in business, none for credit score
“Hybridge SBA loan”$50,000-$5,000,00010-25 years$120,000 revenue, 2 years in business, 685+ credit score
Equipment financing$10,000-$5,000,0001-5 years$120,000 in revenue, or no min. revenue and no min. time in business for a 650+ credit score
Accounts receivable financing$10,000-$5,000,0006 months- 10 years$40,000+ monthly receivables, 6+months in business, no minimum credit score
“Performance Advance”Up to double the normal offer, depending on sales3+months in business, no minimum credit score

In the phase of application, you will be also required bank statements from the last 3 months, but no tax returns exhibition.

As you can see, you have way greater borrowable limits and longer terms among our chosen lenders (and in general). Another perk is that National doesn’t require collateral or a personal guarantee, which is relieving especially for recent business owners who can’t provide assets.

  • “Term” or small business loan can be used for every business size and maturity, so if you are a startup you can use it as well, for pretty much everything such as buying equipment, hiring staff, renovations, working capital-related expenses, expansion, or investing in opportunities.
  • The revolving business line of credit gives you quick access to cash, borrowing as many times as you wantit is ideal for financing regular expenses and preserving the cash flow.
  • An SBA loan demands typically more time to obtain the funds, from 45 days up to 6 months; the National’s Hybridge SBA loan revolutions the loans market, being able to accelerate the process and make it easier, compared to the same service through banks or private lenders. With an Hybridge loan, you have lower rates and longer terms than non-SBA loans, with the additional benefit that waiting times to be funded are cut to a minimum: you receive a portion of the requested amount (the “bridge capital”) in as little as 24 hours, then within 45 days you get the remainder so you can immediately go on with your business. Moreover, this will actually lower the cost of your loan.
  • Equipment financing. With such a dedicated loan, you can choose your vendor and pay it up to 100% for the necessary equipment, with no upfront fees; you can obtain the needed capital within a minimum of 24 hours, and have customizable options to repay. The National’s “eQuickment Financing Product” allows an even faster and simplified process of qualification and funding, no additional documents for purchases under $75,000 and a borrowable amount up to $250,000, by which you can pay for the entire supply, deposits and taxes included.
  • Accounts receivable financing: you sell your customers’ invoices and receive cash in turn, from 80-95% of their value. This acts as a line of credit, ideal if you already have (or are likely to) gaps between their payments, keeping a steady cash flow, and better payroll management, which is important for your business growth.
  • Performance Advance is the National merchant cash advances product: as you get paid from your day-to-day sales, you repay your loan, so you have not to follow a fixed schedule. Based on your business performance, even with a low credit score, you can qualify to borrow up to double of what you would normally ask, virtually accessing huge amounts, with approval and funding possibly in the next day.

Besides these, the company has a plethora of other business loans, both secured and unsecured, that can cover whatever specific need you may have, including franchise financing, startup loans, veteran loans, business loans tailored to women.

So, let’s consider why National Business Capital can be ideal for you.


  • Exposure to multiple lenders means access to lower rates
  • Fast processing with paperwork kept at a minimum
  • Fast funding timing, even with an SBA loan
  • No minimum credit score generally required
  • Financing specialists available for support
  • Plenty of financing options and business services
  • Top customer service
  • Mostly positive customers’ experience


  • APRs are not declared before applying
  • Requirements of annual revenue might be considered high
  • Possible flooding with marketing materials and loans offers

Mind that your final APR and remainder conditions of the loan will be established through a contract with one of the lenders in the network, and your repayments will be addressed to the latter, not to National. Your credit score check is done exclusively with a “soft pull”.

The online application is one of the most streamlined you can find: it may take less than one minute, then a financial advisor will get in touch within 24 hours to discuss your needs and clarify any doubt; you will be matched with more than 75 lenders that are in the network, and receive quotes. You will be guided by the specialists in selecting the single offer that is more suitable for your business, and finally, you are funded within a few business days or even hours.

On the website, you can also view who the team members are, along with something about each of them, so that you will feel like a family by your side to help with your business.

National Business Capital has been accredited by a major financial rating institution, the Better Busines Bureau, which gives it an A+ score; on the bureau website, National receives an average of 5 stars from customers reviews (zero complaints), who speak especially good of how it is easy and quick to obtain funds and complimenting on the level of assistance and human communication from customer service. On Trust Pilot (4.9/5 over more than 500 reviews) and Consumeraffair websites, even from Google reviews, you can find lots of positive feedbacks. This is indeed a challenge, especially when a marketplace is involved, because of the intrinsic high likelihood that expectations may not be met.

If you want to have the freedom to choose among more lenders in one place, National is the ideal solution: whether you are a startup or already producing a good revenue, want to get access to the lowest rates, longer flexible terms, and the highest amounts possible for supporting your business needs and growth, then look no further.

Fresh funding

Overview: Best for businesses with fair and poor credit scores.

Fresh Funding was formed in 2017 and has its place in New York City; despite its young age, has gained a reputation in the business loans panorama, receiving a substantial amount of positive feedbacks, above all on the customer service which is friendly and reliable, with an extensive interaction component.

The company’s philosophy is recognizing that no two business circumstances are equal, so they offer tailored solutions based on the amount to borrow, uses, needs, and repayment options: you will receive funds fast to ensure that your business is not lagging. If you want to purchase equipment, sustaining expenses, expand, or for acquisition purposes, you will get what it takes.

One of the most beneficial aspects of choosing Fresh Funding is the readiness and competency of its customer service team: they can deal with the multiple needs of business owners, regardless of which level their business is. If you have a subpar credit history, you will always find a member of staff who is willing to assist you to obtain the best deal.

Fresh Funding can lend amounts in the range of $5,000 to $500,000, providing six types of loans in total, some of which are very specific:

  • Business line of credit. A line of credit is useful whenever you need a constant cash flow, to fill its gaps and requireS that your business is currently performing well, giving the proceeds necessary to make the repayments; once they are done, you can again borrow from the credit, just like a credit card. You have up to $100,000 available, there are no collateral or early repayment fees; you pay only for what you use.
  • Working capital loan. This kind of financing helps your business keeping up with upcoming expenses such as wages of employees, taxes, bills, etc. You can borrow up to $250,000 on a maximum short-term up of 18-month, and no personal guarantee is required.
  • Business cash advances. As you make sales, a percentage portion of those is used to repay the loan, although several industries can’t be served with this option. A cash advance gives you rapid access to funds, with approval within 4 hours, and your repayment is automatically set up from a bank account where the loan amount is deposited: you can receive up to $150,000, without collateral or any guarantee. As for cash advances, Fresh Funding offers four levels of financing, which you can see in the table:
Starter TierStandard TierPremium TierPremium Plus Tier
Factor Rate1.
Minimum time in business18 months12 months18 months24 months
Ownership statusAt least 50%At least 50%At least 50%At least 60%
FICO Score560+500+560+620+
Minimum monthly deposits$30,000$15,000$30,000$50,000
Average number of unique deposits.85810+

“Factor rate” is an interest applied to the borrowed amount.

  • Short-term business loan: if you need a lump sum fast, with repayment to be done within 12 months.
  • Inventory loan: made for the specific purpose of purchasing inventory, which also acts as collateral if you couldn’t afford to repay
  • Medical/dental (practice) loan. This is geared toward owners who are in the medical business, or willing to get started with; funds are used to finance equipment and everything is needed; your eligibility will depend on the level of health of your practice and credit history.

The repayment frequency will be weekly or daily, according to loan type and terms.

So, whatever is your business-related need, Fresh Funding seems to have the right solution, and its staff is always ready to explain everything to you before applying and to guide you through application afterward. Your pricing will be revealed after having determined which option is best for your circumstances.

Unlike most lenders, a considerable edge of choosing Fresh Funding is that its products are unsecured loans, meaning the absence of requirements for collateral or guarantee, with little exceptions: if you are the owner of a new business, whereas you can’t provide assets as a guarantee of repayment, Fresh Funding loans can fit perfectly.

Fresh Funding offers a pre-qualification process, during which you can be assisted in person by field experts; your credit score won’t be affected by such an operation. The first online form is a simple form asking to provide general information: at completion, you will be contacted by a funding specialist, who will eventually assist you with clarifications about products and the documentation required to close the full application.

Your applications will require a minimum of 3 months of bank statements; the approval and funding happen the same day: the company is quite transparent in it is committed to delivering the product with great timing. Many business owners can only be satisfied with this perk, since they may not tolerate potential delays that might cost whatever losses to their businesses.

Here is a summary of what to consider about this company.


  • Outstanding customer service
  • 24-hour approval
  • Quick funding process (within max 36 hrs)
  • Flexible overall, especially about repayment terms
  • Face-to-face interaction with specialists
  • 4-month in business as the minimum allowed


  • Repayment frequency is weekly or daily
  • Rates and fees are not visible before application
  • Some products description on the website is lacking
  • Shortage of reviews, present only on the company website

Fresh Funding team strives to be professional all the time, and they can be reached in more ways: by phone, email, or social media such as Facebook. At now, probably because they are a recently born company, there aren’t reviews from sites like TrustPilot or BBB, but that doesn’t mean you should discard the company. The old-style phone call is still the best way to get in touch, and you will at the very least find competency, clarity, and a stress-free process of eventual applying.

Fresh Funding is definitely a first-level choice if you have less than good credit, different exigencies, and/or you are in a rush needing to keep up with your business operations soon while having valuable human support by your side.


Overview: Best for low-revenue businesses and fast funding.

Founded in 2013, BlueVine is an online lender that provides a range of banking services to small businesses, including loans of two types: a line of credit and invoice factoring.

Where the company definitely stands out is the fast and ease of its funding process, which is also made user-friendly through a web entirely dedicated front-end. The evidence of such a strong point stems from the abundance of positive customer reviews, that can be found on popular boards like Trust Pilot, where the company shows a rating of 4.3 of 5 stars on 2,280 reviews, which is not easy to perform. Its reliability is assured in it has accreditation from the BBB, which gives BlueVine an A+.

We found the website to be simple, comprehensive, and enough transparent about disclosing its information, which is something you want to experience when trying to connect to a business financing service.

The company can work with most industries, with exception of a few ones: non-profit, borderline legal substances, adult entertainment, insurance, and gambling to mention some. Besides, some medical and healthcare sectors can receive limitations on services due to their nature.

BlueVine business loans are both short-term financing. As for the line of credit, terms are either of 6 or 12 months, and you can obtain up to $250,000, with revenue of as little as $40,000 yearly, but you have to be in business for a minimum of three years. In contrast with lines of credit from other lenders, you won’t pay an annual fee, as well as there is no origination fee; if you wanted to receive funds into a bank account the same day, you would pay just $15 for it.

Whenever you withdraw a certain amount from the credit, that goes under a term loan to be repaid in 26 weekly installments if you chose the 6-month term, or on a monthly basis for the 12-month term; interest is of course applied to each draw. Once you have paid off the principal loan amount, the credit is again available.

So, here is a summary and more information for this product:

Product NameBusiness lines of credit
Min. Amount$5,000
Max. Amount$250,000
Loan Term6 to 12 months
Min. Credit Score650
APRVaries, starting from 4.8%
Requirements3+ years in business, $40,000+ in monthly revenue, bank connection, or the latest 3-months banks statements, North Dakota South Dakota, and Vermont excluded.

It must be noted that the declared APR is a simple interest rate, that will be actually converted from a bunch of factors related to your financial wellness: you can obtain the minimum rate for an excellent credit status and high levels of business performance over several years; on the other hand, you have to expect your rate to be considerably higher as much as your requested amount is greater and your industry riskier; a low revenue and/or short time in business will influence the rate as well. Indeed, your loan might turn out to be quite expensive.

You will probably have to sign a personal guarantee, this is especially true as more as you are close to the minimum requirement to be approved.

Invoice factoring is a valuable solution for business owners having clients who might be late on their payments, more than one week, so to keep up with a constant cash flow. You take an advance amount on invoices and your client will repay your “loan” by directly selling the payments on the BlueVine account (the company makes sure they don’t know where the money is addressed); the lender also considers their “creditworthyness” to determine your factor rate. To qualify for the best rates, your invoices must be at least $500 worth, and regular timing of payments by customers is also relevant. You would have to repay out of your pocket only if there were missed payments on their end.

Product NameInvoice factoring
Loan Amount85-90% of invoice value, up to $5,000,000
Loan Amount1-13 weeks
Min. Credit Score530
RateStarting from 0.25% per week
Requirements3+ months in business, $10,000+ in monthly revenue, $500+ invoice value, B2B, customer based in the US or English speaking provinces of Canada, bank connection or statements

This is clearly a great option if your revenue is little and couldn’t qualify for lines of credit.

BlueVine service is efficient enough so that you may be able to complete the application in 5 minutes, and receive approval in such a short timeframe; funds can be available within one or two business days, depending on cases, and as mentioned you have the option to get them in a matter of hours by paying a little fee. The BlueVine experienced team will also support you during the whole application process.

Unlike some lenders, you are not required to have a certain bank balance in order to qualify. Once you compile the first form, you will have only a soft inquiry on your credit score, which doesn’t affect it, while a “hard pull” will be necessarily done with the final application (except for LLC and corporations); this is the standard procedure as for most of loans servicers.

The online space where one can see and manage the loan account is very practical ad appreciated by current customers: you can easily withdraw from your line of credit in a click, and monitor your monthly balance whenever you want.

It must be stated that BlueVine cares about your privacy, in fact, they don’t sell your personal information to third parties unlike other lenders so that you won’t receive unsolicited offers or marketing materials in the future as a result of hidden consensus.

And if that’s your case, through BlueVine you will be able to refinance an existing debt of yours, up to 100% of its amount.

So, to recap here are the benefits and drawbacks at a glance:


  • Quick online application
  • Approval within 24 hours in most cases
  • An online dashboard to keep track of operations
  • Cash available within hours with a tiny fee
  • No origination, annual, or early payoff fees
  • Lax qualification requirement
  • No collateral assets required
  • Privacy care


  • Short-term loans only
  • Weekly repayments
  • High APRs in some cases
  • Not all industries are served

In a nutshell, BlueVine is overall a great choice if you want to be approved and funded fast, need short-term financing with big amounts, and more direct control about managing your budget. Rates can become quite high if you have a suboptimal financial condition, but that is quite the norm in the landscape of loans. You will be supported by competent and ready customer service, so you have all that it takes to realize your business goals.


Overview: best for short-term loans (and fair credit owners who need fast cash for working capital).

Kabbage is an online lender, with headquarters in Atlanta, that offers loans to small businesses operating through an automated platform. Founded in 2009, the company has received accreditation by the Better Business Bureau and has an A+ rating, which means great trustworthiness and financial strength.

The company can serve most of the industries, with the exception of a few: non-profit, financial businesses, gambling, cannabis, or firearms.

A great perk of Kabbage is the rapidity of both the application and funding process, as well as ease of managing one’s account: it functions entirely online, but this doesn’t come without efficient customer service. We also find great transparency and completeness about how information is disclosed on the website.

Through Kabbage you can obtain a business line of credit, which can be used for barely every necessity, such as buying inventory, investing in equipment, paying employees’ wages and utility bills, supporting the cash flow, hiring new personnel, or exploiting a fresh opportunity.

Kabbage can fund you a loan with a business annual revenue as low as $50,000, or $4,200 monthly received for at least three months: this can be ideal, for instance, if your business hasn’t a regular income year-round, that might be the case of seasonal operativity.

Lines of credit offered from Kabbage are only of the short-term kind: they come with either 6, 12, or 18 months terms, depending on which you can qualify for, and your choice. When setting your annual percentage rate (APR), Kabbage will consider your monthly revenue, time in business, information from your accounts, and credit score. APR calculation is complex, resulting in expensive especially for poor credit owners and low-revenue businesses: rates are in the range of 24-99%, which are higher than most business lenders, but mind they are by definition annual rates, not how much it applies to each draw.

You can borrow up to $250,000, even withdraw the entire credit, and you will get funded no later than 24-48 hours. You won’t have the typical interest you find in a conventional loan, but a unique fees structure: every time you draw an amount from the credit, a fee based on that amount and the loan term will be applied: on a 6-month term, you have a fee of 1.5%-10% for the first two months, then 1.25% for the remainder; as for terms of 12 and 18 months, the two fee schemes are half and half distributed.

This also implies that if you decided to make early payments, you won’t’ benefit that much, since the bulk of “interest” is charged in the first part of the loan lifetime. An extra fee is due if you go beyond the “grace period” of 4 days within which you have to make a repayment, and will be calculated upon the borrowed amount. There aren’t origination or prepayment penalty fees, but you are charged only for what you use. Repayment terms will also change depending on the amount you borrow from time to time.

At a glance, you have these conditions for Kabbage lines of credit

Min. Amount$1,000
Max. Amount$250,000
Loan Term6 to 18 months
Requirements1+ years in business, $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months

Rather than credit score, Kabbage looks more at your business performance to determine your final rate. You can qualify with fair and possibly bad scores, but you will get quite high APRs.

Also, you won’t have the requirement of a collateral asset, but to sign a personal guarantee: your personal (not business) assets are eventually used in case of inability to repay.

Understand that the term applies each time you draw from the line, but Kabbage says you are not obliged to take the fund at a given time: as long as the balance comes back to 100% of the original amount, you can close the line every time.

Each time you borrow against the line of credit, that is considered in the same way as a short-term loan, with a fee acting as interest which is calculated as mentioned. The fee structure is clearly more complex compared to the standard of loans and is likely to result in meaty repayments unless you take little sums and you already have a favorable financial condition.

After a straightforward online application, you will get approved in just minutes, if eligible. Funding happens within 0-3 business days if processed through the bank account, and deposited directly on it; instead, when you opt for transferring funds via Paypal, they will be available in minutes.

Kabbage has a tech-friendly approach when it comes to managing your account, in fact, you can borrow in two alternative ways, besides going on the website dashboard: the Kabbage Card or its mobile App.

Using Kabbage Card has additional benefits, such as you won’t have to wait each time you draw from the credit, and there aren’t additional fees: you can use it for purchasing business equipment and to finance other expenses as well. The App is a comfortable way to access your account via mobile and you can also withdraw funds from it.

Repayments can be made manually through the online dashboard or mobile app where you can easily review your balance. You can also set and implement autopayments, so Kabbage will draw each month a minimum payment from your business account. Also, if there are multiple outstanding loans within the line of credit, those can be consolidated in a unique monthly payment for convenience.

So, have a look at the advantages to choose Kabbage, along with its potential flaws.


  • Qualification in a matter of minutes
  • Rapid access to funds
  • Lax revenue requirements
  • 1.5% minimum monthly fee
  • Pay only for what you are using (no upfront fees)
  • A card and app available for managing a business account
  • Line of credit up to $250,000, with extra funding possible


  • Complaining reviews about high rates (APR)
  • Little saving with early repayment
  • Term loans unavailable

Kabbage online application can be completed in minutes. The entire process has no paperwork but requires connecting to a business checking account, a payment management system such as Paypal, or even other online accounts among which Amazon and eBay.

Customers’ experience with Kabbage is good overall: on Trust Pilot, the company has a 4.2 rating over more than 6,500 reviews. It must be said there are mixed opinions: most customers are satisfied mainly with ease and rapidity to obtain funds, but some have to say about how their loan gets expensive. In some cases, loans account have reported not being well managed during the coronavirus emergency. For a bunch of reasons and under some peculiar circumstances, it is possible that a business account is frozen or funds available are reduced: Kabbage is still transparent by specifying that errors can occur during the signup process and that conditions can vary over time. You have to consider we’re actually talking about lots of reviews, and you should be oriented essentially by your individual needs in the first place.

Kabbage is a worthy choice if you like to win easily, you need cash near-instantly, don’t have stellar credit but are ready to take a probably more than average expensive loan. Consider it also if you couldn’t qualify with other lenders because of a low credit. Besides, you won’t have the headache of written documentation to sign, just basic information to submit in order to qualify. And you can use the line of credit for virtually anything. Look elsewhere if, instead, you are looking for a traditional term loan with stretched terms allowing smoother monthly payments.


Overview: Best for low-credit and fresh businesses

Fundbox is a FinTech company based in San Francisco operating since 2013, with the goal of helping entrepreneurs succeed; it has already assisted thousands of business owners to get the funds they needed and is trusted by more than 100,000 businesses in the U.S. It has been accredited by BBB with an A+ mark.

The company highlight is how it makes extremely simple, fast, and transparent the entire process of qualifying for a loan, applying and obtaining funds: you will save yourself headaches, time, which is precious for your business moving forward, and also money since you won’t have additional fees over the one applied to the amounts borrowed, plus a necessary late payment fee.

If your time in business is recent and you haven’t enough proceeds to speak of, or even with a bad credit score, Fundbox is a must choice: you are granted a loan with way lower requirements compared to what other lenders tend to ask. In fact, you can have yearly revenue of as little as $25,000; also, you may find it interesting that there is no credit score requirement, and only a soft check on it, in contrast to hard pull mad by the majority of lenders. This means that even you faced some kind of hardship, it won’t affect your eligibility for the loan. Plus, your interest is a flat fee, so that it is simpler to come up with future payments: no complex math, no surprises.

Fundbox consider more important how your business performs than credit score: in the application phase, you are required to connect your business bank account, from which the lender can evaluate your status. Recognized banks and credit unions are in a network of 12,000 financial institutions, both national and local, so it is likely that yours is in the list. If you have one, you can link a book-keeping software account, such as Paypal, Xero, Kashoo, Jobber, QuickBooks, and others.

Fundbox can provide two types of loans: a business line of credit and invoice financing. They are both short-term loans, in fact, you have only terms of 12 or 24 weeks, and you can borrow up to $100,000. Rates (APR) are in the range of 4.66%-8.99%, which apply weekly to each repayment. This interest is a flat fee so that your repayments will be the same throughout the loan term. In case of late payments, you will be charged with a penalty fee, equaling threefold the amount of the missed fee, plus the principal of that payment, resulting quite high. In contrast, there is no early repayment fee, but you pay only for what you use.

With the line of credit, you can borrow as many times as you want, as long as you make the repayments to reconstruct the balance. Fundbox line can be used for everything you may need: working capital, buying inventory/equipment, acquiring an existing business, expanding, hiring staff, etc. You have a limit of $100,000 as for the single amount borrowable at once, but you can draw smaller amounts more times, and the 12 or 24-week term applies to the single withdrawal.

Fundbox Pay (net terms) is the company solution for invoice financing: it acts as a trade credit in that your vendor invoices are sold and paid to you from Fundox, so you are financed for the purchase of business assets or to keep the cash flow. A unique feature is that you can receive 100% of the invoice value, whereas other lenders usually offer a max return of 80%-90%. Rates, terms, amount (of invoices), and requirements are the same as for line of credit.

Repayment frequency is always on a weekly basis, and you will have the comfort of setting automatic repayments. If you consider paying off the loan early, you will save a few bucks on the interest.

Here is a summary of Fundox loans conditions, for both the products

Min. Amount$1,000
Max. Amount$100,000
Loan Term12-24 weeks
Min. Credit ScoreNone, with possible exceptions
APR4.66%-8.99% and possibly beyond
RequirementsBusiness registered in U.S., transactions history of 3+ months, having a book-keeping software/supported business checking account, no collateral

Fundbox is one of the few lenders not requiring a collateral asset for securing your loan, which is good news especially if you are into a fresh business. Instead, revenue, invoice values, and receivables accounts are taken into consideration.

So, consider how you can benefit from Fundbox:


  • Quick approval and funding timing
  • Paperless application
  • No credit score requirement or pull
  • Transparent and convenient fee structure
  • Pricing estimation available before applying


  • Low max borrowable amount of $100,000
  • Very short terms only
  • Volatility of loan conditions
  • Limited accounts supported for transferring funds

Besides the advantages, you may find restrictive a limit of $100,000, especially considering higher limits available from most of Fundox competitors; also, mind that despite its wide network, Fundbox can’t connect with some banks, one of which might be yours.

The company is clear about saying that your rate and limit are modifiable over time, that will be determined by your business performance: a potential drop will probably mean diminished amounts to borrow, or augmented interest.

You will go through a registration phase first, where you are asked your monthly revenue, then you will get a credit decision without obligation to proceed further. If you go the route, you have to connect a financial account, and your credit score won’t be impacted.

The company can approve you in a matter of hours and you can receive the funds yet in the next business day. You are not committed to using the funds soon but will be solicited if a certain inactivity period is detected. No paperwork is required, but you will share basic information about your business and need to link your account: rates along with amount and term are determined accordingly to your situation.

Through the Fundbox dashboard, you can easily draw funds into your account with a click, and this is simple to do also as for invoice financing. From there, you can monitor your balance whenever you need it. Using the website pricing tool, you will know in advance how much you are going to pay: your applied fee is calculated.

On the website, there is also a comprehensive resources section where you are explained how to approach business loans so that you can make a well-informed decision.

Not least, Fundox has an impressive valuation on TrustPilot, where it is rated 4.7 out of 5 based on more than 2,500 reviews: customers are satisfied with their experience overall, especially as for ease of use and fast funding. And that’s not enough, you can find lots of positive feedback also from other popular platforms.

In a nutshell, if you are about an easy and quick approval process, affordable rates, don’t have a great credit score or revenue and you are unpretentious about big amounts to borrow or long terms, then Fundbox is, by all means, a winner choice.


Overview: Best for low-rates SBA loans and high-revenue businesses

Since 2009, SmartBiz is an online marketplace founded with the purpose of assisting business owners to find the right lender and choosing the best offer for their needs. The company has a network of bank and non-bank partners, that can provide low-cost SBA loans, but also offering non-SBA conventional financing: with a single optimized application, you will be connected with multiple banks, saving time and the hassle of doing this by yourself, one by one. In this way, you have the highest chances to find the perfect deal for your business and to actually get approved. The SmartBiz professional staff has plenty of members who will be at your side throughout the whole process.

Businesses can be served in almost every industry, except a few such as gambling, life insurance, financial services, real estate development, private clubs, among others. It must be stated that SmartBiz also cares much about financing minority, veteran, and women-owned businesses, in fact, more than 50% of funded loans have been actually addressed to these categories.

Where SmartBiz stands out is by making SBA loans simpler and faster than what you would expect from a bank, and not least important, you get very affordable rates, in proportion to the granted amounts. In fact, with SmartBiz SBA loans you have variable rates in the range of 4.5-7%, and you can receive loans sized from $30,000 to $5 million; these are long-term loans, with repayment schedules stretched over 10 to 25 years, so that the recurrent payments are smooth while low in interest. Your rate will depend on credit score and history, time in business, and its performance, but also greatly on revenue/cash flow and worth of personal assets. To benefit from SmartBiz advantageous conditions, your credit score must be at least 650, which is still in the range of a “fair” FICO score; however, that is just the minimum requirement and a “good” rating is ideal for obtaining the best rates and terms.

Since SBA loans are still relatively slow to be funded, you may prefer a quicker and more flexible loan: in this case, SmartBiz can serve you as well, by exposing you to several non-SBA loan offers, both from banks and other lenders. This makes the company a complete financing servicer, that can meet most business owners’ situations.

All of SmartBiz SBA loans are 7(a) loans: working capital, commercial real estate loans, and debt refinancing. Overall, they can cover pretty much every business demand: they are ideal for buying equipment or buildings, paying recurring expenses, hiring personnel, expansion, etc.

Here is a prospectus of the main conditions:

Commercial Real Estate Loans

– $500,000 – $5 million

– 4.75% to 6.00%

– (Variable rate of Prime Rate plus 1.5% to 2.75%)

Debt Refinancing / Working Capital Loans

– $30,000 – $350,000

– 6.00% to 7.00%

– (Variable rate of Prime Rate plus 2.75% to 3.75%)

So, if need to finance the purchase of a commercial real estate property (except for new constructions), you can obtain up to $5 million with low rates such as 4.75%-6%, a term up to 25 years, and this is possible with just a $50,000 annual revenue. There will be fees, whose amounts are determined on a bunch of factors, including credit status. A prepayment penalty is applied in the first three years of a 25-year term loan; there is a one-time application fee up to $5,000 plus a guarantee fee; bank closing costs might add another $5,000. They are rolled into the loan amount so that you actually receive the net amount. A deposit will be required, and a down payment that must be between 10% and 30%.Another great option with SmartBiz is debt consolidation/refinancing: in case you have pending high-interest loans, you can aggregate them in a unique loan with lower interest and/or longer term: borrow up to $350,000 with variable rates of 6 or 7% and repay your loan over 10 years. Loans allowed include merchant cash advances, short-term business loans, business credit cards, business loans with daily or weekly repayments.

Working capital loans can help cover daily operating expenses: borrow up to $350,000 and pay a variable interest of 6-7%, plus fees; repay your loan over 10 years. You can use this kind of loan for several purposes, such as buying inventory/ equipment, new hires, miscellaneous expenses. Fees are an application fee up to $3,000, plus a guarantee fee of 1.70%-3.75% based on the loan amount itself.

To recap, take a look at the summary table for reference:

ProductSmartBiz SBA 7(a) business loans
Min. Amount$30,000
Max. Amount$5,000,000
Loan Term10 to 25 years
Min. Credit Score650
Rates (excluding fees)4.75% to 7.00%
Requirements650+ personal credit score, US citizen or permanent resident, 2+ years in business, no outstanding tax liens, no bankruptcies or foreclosures in the past 3 years, both personal guarantee and collateral required in most cases
Funding time1-6 weeksApplying for an SBA loan through SmartBiz doesn’t require service fees, but those are due to banks.

Like with other lenders, especially banks, whenever you take an SBA loan you will have to wait months; SmartBiz can fund you in few weeks, in some cases as little as one week, but to benefit of such attractive conditions you will have to meet the strict SBA requirements (that are not decided from SmartBiz).

If you couldn’t qualify for an SBA loan, or just are not interested in it, these are instead the conditions for non-SBA bank term loans:

ProductSmartBiz SBA 7(a) business loans
Loan Amount$30,000 and $350,000
Loan Term2 to 5 years
Rates (excluding fees)7.99% to 24.99%
RequirementsAt least 2 years in business, a personal credit score of 640+ for all owners, US citizen or permanent resident, cash flow to support loan repayments, no bankruptcies in the past 3 years or outstanding tax liens, personal guarantee
Funding time7 days or less

Mind that you will encounter disclosed rates as APRs, which include interest rates and fees. Bank term loans also charge an application flat fee with a maximum amount of $3,000; there are also a referral and a packaging fee, accounting for 3% of your loan amount each, and that will be deducted from the loan amount. There is no prepayment penalty for such loans.

Despite the fees, an indisputable advantage of choosing SmartBiz is that its rates are among the lowest on market as for SBA loans; application and funding together will require less time and more ease through digital than done from banks. Repayment terms are long, both for SBA and non-SBA loans, so you have comfortable monthly installments.

SmartBiz can provide even more flexibility, providing highly customizable solutions to keep up with your cash flow: business line of creditinvoice financing, and business credit cards. With all these considered together, you can borrow from $30,000 and $500,000, under terms going from 24 to 60 months.

All that said, consider if SmartBiz can be your definitive choice:


  • Easier SBA loans and shorter funding times than banks
  • Prequalification within minutes
  • Very affordable rates
  • Borrowable amount up to $5 million
  • Long terms
  • Great level of assistance, customer service, and positive reviews


  • Higher than standard and lots of financial requirements
  • Slow funding if bigger amounts are involved
  • Upfront fees, and early repayment penalties in some cases

SmartBiz offers great products only if you have strong credentials. Your credit score will be definitely a relevant factor, but business health and age are even more important. If those aren’t optimal, you have to take time for improving your situation, then you might consider reapplying.

SBA loans funding time through SmartBiz is actually slower than the one from other online lenders, and ample documentation is needed: personal financial statements, profit and loss statements, tax returns, business debt obligations, and proof of collateral.

By the first application form, you will get a quick pre-qualified offer, that implies a soft credit score check. The final application with any lender will necessarily call for a hard pull on your credit score.

Before applying, you may want to consider the SmartBiz Advisor tool, which provides tips for eventually improving your financial condition, as well as a guide to better understand how you are evaluated, and you will obtain individualized insights on where your business should be standing. The website has also an excellent learning center and blog: if unsure about embarking on a loan, you will understand many things.

SmartBiz has currently a substantial number of customer feedback, the bulk of which are greatly positive, so you can be way more confident in your choice: on the Trustpilot website, it receives a rating of 4.6 over more than one thousand reviews. There is a general feeling a contentedness about the experience with SmartBiz: most customers are happily satisfied especially with the ease of getting an SBA loan, as well as with the level of communication with the company knowledgeable staff: its members approach is to really take care of customers, from understanding the needs of your business to suggesting the right product and nudging you through every step of a loan process: making sure that every question is answered. On the BBB website, you will find very similar reports.

Final verdict. If you are a small business owner with already a brief clean background, SmartBiz is undoubtedly one of the best choices on the market for your goals: you have the convenience of choosing among several lenders at once, reliability to be put in front of the best offer, plenty of options to cover every possible financing, on top of big amounts to borrow, low rates and long terms. On the other hand, if you are more about fast funding, short-term loans with subpar credit, you may just need to turn your head elsewhere.

National Funding

Overall: Best for low personal credit scores, and higher-risk industries.

National Funding is a small business lending company, working both providing its own services and using a network of partner lenders, which makes it one of the largest services in the country: operative since 1999, it has helped more than 50,000 U.S. and foreign businesses to realize their projects. In this way, it has gained lots of expertise about the most varied industries and can provide loans to borrowers with most of the credit profiles, while also being open to serve somewhat risky industries, including cannabis.

There are more reasons why National Funding has an edge over other lenders: you have great flexibility to choose your loan according to your situation and specific business goal while having both short and long-term financing solutions. Where most lenders fall short is not tolerating low credit and business that are risky because of the nature of their operations: that’s not the case with National Funding, so you will have a major chance to be approved. Also, you will be supported by a greatly knowledgeable team who knows a lot about the most varied industries and is there to guide you at best.

The company offers a comprehensive range of short and medium-term loans, with borrowable amounts up to $500,000: small business loans, working capital, equipment financing, merchant cash advances, invoice factoring, business loans for bad credit, unsecured loans, bridge loans for commercial property. Whatever your need, National Funding will support you.

You can qualify with a low credit score such as 500, which is ideal if you have limited job history or a suffered personal credit, and you have to be in business for at least 1 year; an annual revenue below $100,000 is allowed, however, this depends on the type of loan and amount requested, and it is just a minimum requirement.

If you are into businesses such as medical and dental practice, commercial trucks, constructions, agriculture, landscaping, and senior care you can receive the most tailored solutions. On the website, you can find deep discussing articles about these fields, very helpful insights, especially for novice business owners.

A few businesses in the following industries are excluded: car dealers, sporting clubs, legal services, tour guides, gasoline, and others.

National Funding gives you rapid access to the funds you need: the approval process can be completed within the same day and disbursement can occur in the next 24 hours. The approval rate is among the highest, as claimed by the company itself. You are even encouraged to pay off the loan early, by receiving a discount of up to 7% of the remaining balance (including interest), if done within the first one hundred days after completed application; this is valid only for eligible borrowers.

Here are the general conditions set by National Funding:

Loan Amount$5,000-$500,000
APRVaries: starting from 4%
Term:4-60+ months
Minimum credit score:500
Main requirementsBusiness bank account, 1+ years in business, revenue under $99k allowed, personal guarantee, no bankruptcy in the last year. Additional requirements depending on loan type.

It is likely they ask to have a minimum bank balance of $1,500, but National Funding regards especially well how clean your business is already; your credit score is also relevant, but it can be quite low.

APR is the interest rate plus fees: you are charged with an origination fee of 1-3% of the loan amount. You will have access to a wide range of APRs, depending on your business level. Mind that these rates and terms are valid from National Funding being your direct lender, but if you chose a partner lender they will be slightly different.

In details, conditions vary for every specific product:

  • Small business loans: these are the traditional “term loans” that can be used for things such as coverage of expenses for equipment, facilities, bills, and taxes, keeping the cash flow, or grabbing new growth opportunities. You can borrow up to $300,000 with rates varying upon your situation; no collateral or down payment is needed.
  • Working capital loans: for adding inventory, hiring staff, and better management of the cash flow. Terms are of 4-24 months, with a weekly or daily payments schedule but competitive rates; at least 3 months of bank statements are required, no credit score or collateral.
  • Equipment purchase financing and leasing: you can obtain up to $150,000 over a term of 2-10+ years (repayments on a monthly basis) and lease any type of new or used equipment, as long as you have a quote from a vendor. You must also be in business for at least six months, and have a credit rating of 575 or higher. If repaying early at any point of the loan, you will receive a 6% discount off the total remaining balance, if in good standing and already being on-time with payments.
  • Merchant cash advances: your advances can be up to $250,000, with automatic repayments. There isn’t a fixed schedule, but you pay automatically as you sell: this is the fastest way to obtain cash for your business, and there are no upfront fees nor collateral is required. Instead, you will need at least $3,000 of credit card monthly transactions, and to provide your last 4 months statements.
  • First-time business loans: these are meant to have affordable rates and terms. The only requirements are to be in business for at least 1 year and generating $100,000+ in revenue.

Your credit operativity with National Funding won’t be reported to credit bureaus like it is typical with most lenders. With your first submission, you will have only a soft credit check, which doesn’t affect the score.

Your application is entirely online, and streamlined to be a quick one-page form to be filled under 10 minutes, one of the simpler you can find among online lenders, and your required documentation is kept to a minimum. A loan specialist who understands your specific business will get in touch to assist you in finding the right solution for your business goals. Within 24 hours, but generally less, you will know if you are approved, by receiving an e-mail stating the details of your loan; after confirmation, you are funded within 24 hours after approval, although this time will depend also on your bank processing capability.

The company definitely rewards early payers: if you paid off at least 70% of your loan within the first 60 days after receiving funds, you may become eligible to receive extra funding, which is not common. As a reminder, consider the 7% discount for small business loans and the 6% discount for equipment financing.

So, to recap just have a look at what National Funding can mean for you:


• Easy and quick online application

• Fast and efficient funding process

• Low credit allowed

• High-risk businesses allowed

• Early repayment benefits

• Great customer service

• Plenty of financing options


• Customer reports about short-term loans being expensive

• Possible unsolicited marketing offers

• Weekly or daily repayments only for shorter loans

It must be noted that loans having shorter terms can be quite expensive in some cases: this is almost unavoidable and more likely as much you are close to the minimum requirements. As always, the rule is that borrowers with higher credit scores, cleaner history, and bigger income get the most favorable rate; you are anyway put in the most advantageous position possible, to avoid too much risk both for you and the lender itself.

National Funding has a good collection of positive feedbacks: looking on the Trustpilot website, you find currently a rating of 4.5 over more than 1,300 reviews, which is solid. Customers satisfaction is especially about how its customer service acts always in a professional manner, ready to answer all the questions and doubts with transparency along the whole process of obtaining your loan and afterward; complaints are of various nature, but a flawless experience is very hard to find.

In essence, National Funding offers fast access to capital through a quick and easy application process. Since it grants loans with low scores and no collateral, this servicer can be nonetheless a great option if you encountered restrictions from other lenders where you couldn’t qualify for short-term loans. Overall, for borrowers who need more options for their business, applying with National Funding is certainly worth considering.


Overview: best for returning borrowers, overall flexibility, and customers’ support. 

A well-known name in the business loans context, OnDeck is an online lender serving small businesses with a solid presence on the market. It exists since 2006, with the goal of providing business loans in a more efficient way, using online technology. The company funded 13 billion in loans to cover the variest business owners’ needs.

It presents itself as a great alternative to a traditional bank, as regards obtaining a business loan easier and faster. Born in the U.S., OnDeck expanded also in Canada and Australia later in 2015, to all advantage of its experience.

Unlike most lenders, OnDeck doesn’t give too much relevancy to a borrower’s credit score but, using an efficient proprietary algorithm, assesses a business’ eligibility based on a hundred data points, in essence considering its health and performance. The company strives to fund its customers as soon as possible, understanding the importance of a fast service. Transparency of service and flawless customer support are also the cornerstones of this company.

OneDeck lets you borrow up to $250,000 for its basic product, which is a conventional small business loan. While this amount is not the largest one among business lenders, it is still a big number that will be enough to face many of your business expenses.

At now, OnDeck serves over 700 industries, with a few exceptions: gambling, adult entertainment, money services, non-profit, public administration, vehicles dealer, pawn shops, auction houses, rooming & boarding houses, firearms vendors, religious or civic organizations, drug dispensaries.

OnDeck currently can’t serve business loans to residents of Nevada and North Dakota.

What business loans are available from OneDeck?

In contrast with many lenders that tend to provide several dedicated loans for every single purpose, OnDeck offers two products, but with plenty of flexibility: a conventional small business loan (also known as “term loan”) and a revolving line of credit. Let’s see in detail how these solutions can be suitable for your needs.

Small business loans: you can use these loans for most short-term purposes, such as buying new equipment, working capital, expanding, exploring a new opportunity, etc., with no particular limitations on the use of the funds.

The annual rate (APR) for these loans can be as low as 11.89%. Such a low rate is granted to the most creditworthy borrowers, with established and profitable businesses. On the other hand, it will be way higher if you barely meet the qualification requirements.

The only drawback is that OnDeck doesn’t have the option of monthly repayments, which may be hard to sustain for some borrowers. Instead, weekly or daily schedules must be followed.

Revolving line of credit: this is more useful for regular expenses such as paying your employees, bills, everything to keep the cash flow. It has the convenience of paying and withdraw multiple times whenever you need working capital, instead of taking a lump sum; your credit is renewed as you pay back.

Repayments are automatic and on a weekly basis only. APRs start at 10.99%, so they are quite affordable. Each draw will have a term of 12 months, a period that resets each time.

Also, it has the “Instant Funding” option when you borrow in the range of $1,000-$10,000 per draw: as the name suggests, you obtain your funds near-instantly, 24/7 even on non-business days, and without an additional fee.

All withdrawals undergo a unique weekly consolidated repayment. If your credit score goes up in the while, OnDeck can even increase your credit limit. Interest is not paid on the opened credit but only charged on what you use of that credit.

Why choosing OnDeck?

One reason to choose OnDeck is undoubtedly the benefits you would get as a returning customer: in many cases, you will be able to obtain a reduced rate than the one with the previous loan, a decreased fee, or even a zero origination fee, that is applied for the service itself. Besides, the previous interest payments can be waived with the new loan, provided you paid off at least 50% of the old. This makes OnDeck an ideal lender if you plan to use borrowed funds multiple times over the years to come, depending on your industry and personal preferences.

A great thing about OnDeck is its accessibility for many businesses, especially if yet established, given its moderate requirements: you can have a less than good credit score ( below 670 and in the 600’s), but this lender will consider mostly how your business performs.

Nonetheless, OnDeck has one of the fastest timing disbursement among lenders: more often than not, time is a crucial element for a business. Being able to qualify without too much intricacy and to easily access funds can make the difference.

Lastly, its customer service is top-notch, as witnessed by the several positive feedback of current consumers, which we will discuss later.

What are OnDeck business loans like?

ProductSmall business loans
Borrowable amounts$5,000-$250,000
Terms3-18 months
APRStarting from 11.89%
FeesOrigination fee
Min. Credit Score600
Requirements1+ year in business, $100,000+ annual revenue. Bank business account, with at least 3 months of recent bank statements.
ProductBusiness line of credit
Min. Amount$6,000-$100,000
TermsUp to 12 months
APRStarting from 10.99%
FeesNo origination or draw fees. $20/month maintenance fee
Min. Credit Score600
Requirements1+ year in business, $100,000+ annual revenue. Bank business account, with at least 3 months of recent bank statements.

It must be noted that you should strive to be in your best financial standing, to get the OnDeck’s lowest rates: just being close to the minimum requirements may reveal to be quite expensive. And a business with several years of revenue is regarded especially well by OneDeck. By the way, the company itself declares its average customer to be in business for at least 3 years, having $300,000 in annual revenue, and at the very least 650 as a personal credit score.

As far as we could find, it seems that rates set by OnDeck have greatly increased because of the pandemic emergency, whereas the entire market had to adapt: indeed, they are higher than average yet in the low end of the range. You should ideally have an excellent credit history and score, to qualify for the lowest APRs.

On top of interest, there will be an origination fee of around 2.5% of your loan amount, but possibly up to 5%, that will be directly subtracted from the received funds when they are transferred to your account.

OnDeck doesn’t specify the need to provide a collateral asset to secure your loan; however, we can assume a personal guarantee and a UCC-1 lien might be required for borrowed amounts exceeding $100,000.

An edge of OnDeck is the possibility to qualify whereas other lending opportunities failed.

To sum up, we list all the highlights and drawbacks of OnDeck we were able to find.


  • A reputable name in the industry of online lenders
  • Straightforward application through phone or online
  • Fast funding timelines
  • Accessible qualification requirements
  • Several benefits for loyal customers
  • A flexible line of credit available
  • Outstanding customer service with a high satisfaction rate

OnDeck has more lax requirements than most banks, which is a priority when a business owner needs money easy and fast.

A pretty unique perk granted from OnDeck is that borrowers carrying high APRs on their loans might see their remainder fees waived if they can make early repayments. This doesn’t’ happen elsewhere, in fact, some lenders apply prepayment fees, so OnDeck rewards you instead of penalizing you. This lender doesn’t charge early repayment fees on its term loans, nor on lines of credit.

There is lots of transparency on the part of OnDeck, and its customer support is ready to be reached, to answer any of your questions. A detailed summary of the cost of your loan is unveiled prior to finalize your loan, through the dedicated “Smart Box” tool.

On the website, there is also a comprehensive resource section to help you understand how business loans work, covering several inherent topics. This is because the company firmly believes that informed decisions are the best ones.


  • Potentially high APRs
  • Weekly or daily payments
  • Short-terms only available

APRs charged from OneDeck are definitely not the most competitive on the market (as they were in the period preceding the virus’ advent), indeed they are beyond average. Anyway, we can reasonably assume that the company is going to lower them once the pandemic context will be solved.

As always, good-standing borrowers are doubly rewarded: they have access to lower rates, and their revenue allows them to afford a loan even with not-so-advantageous costs.

Besides, you can have only relatively short terms to repay your loan; on the other hand, banks can offer both better rates and longer terms to eligible borrowers. Also mind that alternative lenders, in general, tend to leverage on easier qualifications, by offering more challenging conditions of the loan for taking the risk.

The weekly or daily basis of repayments can be prohibitive for some borrowers.

Due to its requirements, OnDeck can’t meet startups or low-income businesses.

How do you apply for an OnDeck business loan?

To obtain a loan from OnDeck, you will go through a simplified three stages application:

1-Fill the online form or call a representative

2-Get a response and discuss your options: a loan advisor is assigned to each borrower 3-Your funds are deposited in as little as 24 business hours.

The application takes only a few minutes if done through the form, but it can begin and be completed through a more traditional approach: OnDeck officers can be reached by phone.

Besides general questions including your contact information, the amount needed and loan purpose, you will need to provide some documentation:

– Social Security number

– Estimated annual revenue

– Business Tax ID Number (EIN)

– Current bank balance

– Latest 3 months bank statements of a business account.

Applying will normally require only a soft credit pull, unless your credit report is restricted: in that case, a hard inquiry will be conducted from OnDeck, after removing the limitation by your side. The credit check will be reported to business credit bureaus: this means that you will be able to build business credit, provided you can keep up regularly with the payments. This turns useful to get better future loan offers.

Whenever you are given an offer, all the numbers of your loan will be shown in absolute clarity through the “Smart Box Capital Comparison” tool”. Before signing, you will be safe to know how much the loan will cost. And there will be no obligation to proceed after having applied. On the website, there is a section that shows you a preview of how it is like so that you are more confident with proceeding with your application.

Once approved, you may be in the favorable situation of same-day funding, under most circumstances (for borrowed amounts up to $100k), or anyway between 48- 72 business hours. Repayments are automatically set via ACH or wire.

What customers have to say about OnDeck?

Foremost, OnDeck is rated with A+ from the Better Business Bureau, which accredited the company. What does this mean to you? That it has shown a top-level dedication to customer, reliability, and a commitment to handle and solve potential issues. You are never left alone by such a company, and this is vital for your business. Complaints still exist, but they are relatively scarce considering the operational time and volume of customers: with big numbers, it is more likely that someone moves some issue.

The bulk of feedbacks about the company can be found on Trustpilot, where it boasts an excellent rating over more than 2,000 reviews. Most customers value the customer service’s professionalism and friendliness, as well as smoothness of applying, the ease to qualify, and they are happy to be funded fast, all this despite the significant drawback of pricy loans. Several customers are admittedly loyal for years, thus benefiting from more advantageous conditions.

A few customers are wining about the high rates they received, but they got them in a particular historic moment. The application approval is told to be somewhat delayed, indeed this can happen every time for the most varied reasons. There just can’t be 100% guarantee that it’s delivered in a certain timeframe, anywhere.

Bottom line

OnDeck offers very interesting, flexible business financing solutions, especially for short-term needs, and you will find it easier to qualify than from traditional lenders. If your business has already a good performance, and think you’ll need to borrow more times, then OnDeck is a direct choice, because it rewards wealthy and returning customers. Plus, it enjoys a highly positive experience from nearly all its current customers, which might be a priority of yours. However, OnDeck might be not your best fit because of likely high rates, or in case you needed longer terms or more spread out payments. If that’s your thing, take your time to compare more suitable options: see our recommendations of top business loan servicers.

Leave a Comment

Ads by Eonads