Save on interest and fees

As a small business owner, every dollar you save on interest and fees paid for a small business loan is a dollar back into your business. That’s why it’s so important to make sure you’re getting the best deal that your business can qualify for and fulfills your business’s needs.

But with over 44 different financing options, the research involved in finding that best deal and how to get it could take days, if not weeks. That’s not easy, especially when you’ve got a business to run.

To save you time, we’ve put together a list of what we think are the best small business loans for business owners. Check out the list below and sign up for a free Nav account to find out if you qualify.

Funding Circle sits at the top of our list as one of the only online lenders as a lender that has consistenly improved their loan offerings by lowering costs for the best borrowers and expanding what they can offer. Their loans range $25,000 – $500,000 with 1 – 5 year repayment terms. Funding Circle’s interest rates range from 5.49% – 22.79%. Their origination fees range from 0.99% – 4.99%. If you miss a payment, there is a missed payment fee charged at 10% of the total missed payment, and if your payment bounces, there is a  $35 insufficient funds fee.

Businesses can be funded in under two weeks. Funding Circle requires collateral on their loans in the form of a lien on your business assets and a personal guarantee from the primary business owners.

Requirements to qualify:

  • 2 years in business (or qualified franchises)
  • $150,000+ in annual revenue
  • Owner must have a personal FICO score of 620 or above
  • Owner must have a history free of bankruptcies, current tax liens, judgments or criminal activity.