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Best Business Loans Source
Simple * Fast Funding * No Credit Score Impact
Business Loan Programs
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Minimum Requirements
Credit Score
of 580+
Time in Business
6+ Months
Monthly Deposits
of $10k+
Business Bank
Account open
1+ Years
The credit score requirement may vary depending on the lender and loan program. Some options may be available with a credit score lower than 500, but a higher score will give you more loan options.
Lenders will want to see $10K minimum gross monthly revenue. The greater your business income the more options available.
Some lenders may allow for 6 months in business, while others may require 1+ year or more. A minimum of 6 months in business is a good rule of thumb to follow to improve your chances of qualifying.
Business Bank Account
Some Programs accept personal bank accounts.
* Additional requirements may apply based on credit, income, time in business, loan types, and more.
FAQ
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Is it possible to obtain a business loan after filing for bankruptcy?Having a bankruptcy in your past doesn't automatically disqualify you from obtaining a small business loan, but it may present some additional challenges. Each lender has their own specific criteria regarding post-bankruptcy lending, and it's uncommon for borrowers to qualify within the first year. Most lenders typically require a minimum of one year of demonstrated credit improvement after the resolution of a bankruptcy before considering loan eligibility.
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What are the repayment terms and loan amounts?Loans available from our partners range from $10,000 - $3 Million. Depending on the program Loan terms are from 3-360 months.
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What is NextBusinessCapital.com?We're here to simplify the process and provide you with straightforward access to the largest network of online lenders. With over two decades of experience in the finance industry, we know firsthand the importance of finding a reliable partner who truly understands your needs.
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What is a line of credit?A line of credit offers a flexible and revolving form of credit, granting businesses access to a predetermined capital limit that can be utilized whenever needed. Unlike a conventional term loan, businesses can access any portion of the line of credit at any time, up to the predetermined limit. Interest is only charged on the amount actually used, offering cost savings and greater financial flexibility.
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What are the eligibility to apply for a business loan?Minimum 6+ months in business (1+ year recommended) Minimum $10,000 gross monthly revenue 6+ months of business bank statements required (1+ year recommended) Additional requirements may vary based on factors like credit, income, time in business, and loan types.
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When can you expect to receive your funds?The timing of receiving approved funding varies based on several factors. Each lending partner has its unique approval process, leading to different funding timelines. Typically, funds can be disbursed within 24 hours to 30 Days.
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