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Best No Credit Check Business Loans

Finding a small business loan with no credit check can be a daunting task, and the landscape is full of predatory lenders. Learn about the top, most reputable no credit check loan recommendations.

    Shannon Vissers
  • Last updated onUpdated

  • Chelsea Krause
  • REVIEWED BY

    Chelsea Krause

    Lead Staff Writer

Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

No-credit-check business loans can be a useful financing option for businesses that need a loan but want to avoid a credit check. Maybe you have poor credit, or maybe you have good credit but want to avoid inquiries. No matter your reasoning, it is possible to find small business loans with no credit check.

However, there are downsides to business loans that don’t require a credit check—including high fees and a short amount of time to pay off your loan.

Read on to learn about business loans with no credit check, including your best options, the caveats of this type of loan, and other financing options for businesses with bad credit.

Learn More About Our Top Picks

CompanyBest ForNext StepsBest For
Square Capital

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  • Offers: Business loans up to $250K
  • Revenue Requirements: $10K/yearly
  • Factor Rate: 1.10-1.16
  • Offers: Business loans up to $250K
  • Revenue Requirements: $10K/yearly
  • Factor Rate: 1.10-1.16

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Revenued Business Card

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  • Offers: Business credit card and cash advances
  • Revenue Requirements: $15K/month
  • Factor Rate: 1.1-1.5
  • Offers: Business credit card and cash advances
  • Revenue Requirements: $15K/month
  • Factor Rate: 1.1-1.5

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Shopify Capital

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  • Offers: Business loans up to $5 million
  • Revenue Requirements: N/A
  • Factor Rate: 1.1-1.13
  • Offers: Business loans up to $5 million
  • Revenue Requirements: N/A
  • Factor Rate: 1.1-1.13

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PayPal Working Capital

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  • Offers: Business loans up to $250K
  • Revenue requirements: $15K/yearly
  • Factor rate: 1.01-1.58
  • Offers: Business loans up to $250K
  • Revenue requirements: $15K/yearly
  • Factor rate: 1.01-1.58

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FundThrough

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  • Offers: Invoice factoring with no max. amount
  • Revenue requirements: N/A
  • Factor rate: .0250-.0825
  • Offers: Invoice factoring with no max. amount
  • Revenue requirements: N/A
  • Factor rate: .0250-.0825

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Kiva U.S.

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  • Offers: Business loans up to $15K
  • Revenue Requirements: N/A
  • Interest Rate: N/A
  • Offers: Business loans up to $15K
  • Revenue Requirements: N/A
  • Interest Rate: N/A

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Read more below to learn why we chose these options.

Can You Get A Small Business Loan Without A Credit Check?

Finding a business loan with no credit check can be a daunting task, but it’s not impossible. While you can find no credit check business loans offered by various alternative lenders, your options will be limited. Traditional business lenders that offer low-interest options like SBA loans will always perform a credit check before approving a loan.

The Best No Credit Check Small Business Loans

The following are some of our favorite small business loans with no credit check. These no credit check business lenders do not perform a hard credit pull or even a soft credit pull. We also selected lenders that are highly rated (4+ stars) by Merchant Maverick.

How The Best No Credit Check Business Loans Compare

Funding Offered Who Is Eligible Max Term Length Max Loan Amount Startups Eligible?
Square Capital Short-term loans Square merchants only 18 months $250K
Revenued Business credit cards; cash advances Any small business No set term Depends on revenue
Shopify Capital Short-term loans Shopify merchants only 12 months $5 million
PayPal Working Capital Short-term loans PayPal merchants only Yes $150K ($250K on 2nd loan)
FundThrough Invoice factoring B2B businesses only No set term No maximum amount
Kiva U.S. Microloans Any small business 3 years $15K

 

Square Capital: Best For Square Merchants

Square Capital


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Pros

  • Good borrowing rates
  • Relaxed borrower requirements
  • Fast & convenient
  • No collateral required for loans under $75,000

Cons

  • Only available to Square sellers
  • Merchants can’t apply for offers; they can only receive them

Why We Chose Square Capital For Square Merchants

Does your business use Square POS to sell? You might be eligible for a Square Capital loan. These short-term loans are similar to merchant cash advances, as the Square loan is repaid automatically as a percentage of your daily credit card sales. This loan is so easy to access that you don't even need to apply for it---Square will reach out to you with an offer if you are eligible.

Square Capital Rates & Fees

Square Capital small business loans range from $300 to $250,000 and have no set term but a maximum of 18 months to repay in full. Factor rates range from approximately 1.10-1.16, which is pretty competitive for this type of financing.

Square Capital Eligibility Requirements

Square does not run your credit when determining your eligibility for a loan; instead, the company considers the health of your Square account, including whether you have a good mix of new and returning customers and you process at least $10,000 a year with Square.

You can’t apply for a Square Capital loan, but you can check your Square seller dashboard for loan offers. Square continually checks merchants’ eligibility for loans, so the longer you sell with Square, the higher the likelihood that the company will eventually extend you an offer.

Square Capital Is Best For Businesses That:

  • Process at least $10K/year with Square
  • Have consistent daily credit card sales
  • Need a small, fast loan to smooth out cashflow

Get Started With Square Capital

Read our in-depth review

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Revenued: Best For Cash Advances

Revenued Business Card


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Annual Fee

$0

Minimum Recommended Credit

N/A

Rewards Rate

3% cash back on eligible purchases

Pros

  • 3% cash back
  • $500 welcome offer
  • No annual fee
  • Access to cash advances

Cons

  • Doesn’t report to credit bureaus to help you build credit
  • Doesn’t let you carry a balance
  • Not available to startups

Why Revenued Works Well For Cash Advances

Revenued is a credit card for businesses with bad credit but strong revenue. Revenued also offers 3% cash back and comes with a $500 welcome offer (if you charge $5,000 in the first 3 months of opening your card). Additionally, you can access a same-day cash advance from your Revenued credit line. While many cash advances are accessible to merchants with bad credit, this one is unique in that it doesn't require any kind of credit check at all.

Revenued Eligibility Requirements

Revenued does have some basic eligibility requirements, but most businesses will qualify. Revenued requires that applicants have business revenues of $15K/month. You also need six months in business and to maintain an average daily business bank account balance of at least $1K.

Revenued Rates & Fees

Revenued does not charge an annual fee, nor does it charge interest, as you will need to repay your balance every month in full. If you utilize the cash advance feature, you can expect to repay the advance with a factor rate between 1.1 and 1.5.

Revenued Is Best For Businesses That:

  • Have bad credit
  • Have strong, consistent credit card sales (at least $15K/month)
  • Need a business credit card and/or cash advance

Get Started With Revenued Business Card

Read our in-depth review

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Shopify Capital: Best For Shopify Merchants

Shopify Capital


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Pros

  • Wide range of borrowing amounts
  • Competitive rates
  • Relaxed borrower requirements
  • No repayment deadline for cash advances

Cons

  • Only available to Shopify sellers in certain states
  • No way to apply; Shopify will reach out to qualified candidates

Why We Chose Shopify Capital For Shopify Merchants

Through Shopify Capital, eligible businesses that sell using Shopify eCommerce and/or Shopify POS can take out a cash advance or loan ranging anywhere from $200 to $5,000,000, depending on your sales volume and your business's risk profile. With a wide range of loan amounts and relaxed borrower requirements, Shopify Capital loan is perfect for Shopify merchants at any stage of growth, especially if you have bad credit and can't qualify for other types of loans.

Shopify Capital Rates & Fees

A Shopify Capital loan is repaid as a percentage of your daily sales, with 12 months to repay the sum in total. With a Shopify cash advance, there is no set term for repayment as long as you pay your daily remittance amount (which is deducted from your Shopify account automatically). Your Shopify Capital factor rate will either be 1.1 or 1.13.

Shopify Capital Eligibility Requirements

There is no credit check or requirements as to revenue or time in business. You do need to have been selling with Shopify for at least 90 days and demonstrate consistent sales.

You can’t apply for Shopify Capital financing, however. Shopify monitors its users’ accounts and then extends offers to those it deems eligible for financing.

Shopify Capital Is Best For Businesses That:

  • Run a Shopify Store with strong, consistent sales
  • Need a fast, easy loan for marketing, inventory, payroll, etc.
  • Don't qualify for a traditional business loan

Get Started With Shopify Capital

Read our in-depth review

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PayPal Working Capital: Best For PayPal Sellers

PayPal Working Capital


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Pros

  • Simple application process
  • Relaxed borrower requirements
  • Same day funding—approved loans funded in minutes
  • No personal guarantee

Cons

  • Only available to PayPal sellers
  • The borrowing rate can be high

Why We Chose PayPal Working Capital For PayPal Sellers

Many businesses use PayPal to accept payments on their website or in person, using a POS such as PayPal Zettle. If this describes your business, you may be able to apply for a PayPal Working Capital short-term loan. Ideal for PayPal sellers, these no credit check business loans have a quick and simple application, and best of all, this is a same-day business loan: approved loans can get funded within minutes of applying.

PayPal Working Capital Rates & Fees

PayPal Working Capital Loans are repaid using a fixed fee structure, as a percentage of your daily PayPal sales, with a maximum term of 18 months. PayPal will loan you a maximum of 35% of your annual PayPal sales, capped at $150K for your first loan and up to $250K for loans after that. Factor rates span a wide range, from approximately 1.01-1.58.

PayPal Working Capital Eligibility Requirements

To qualify, you need to have a PayPal Business or Premier account for 90 days or more and process at least $15,000 in annual PayPal sales if you have a Business PayPal account (or $20,000 with a Premier account).

Applying for a PayPal Working Capital loan does not require a credit check. Similar to a Square Capital loan, PayPal will primarily consider your PayPal sales volume and account standing.

PayPal Working Capital Is Best For Businesses That:

  • Have a PayPal Business or Premier account
  • Process at least $15K or $20K/year using PayPal
  • Need a same-day business loan

Get Started With PayPal Working Capital

Read our in-depth review

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FundThrough: Best For Invoice Factoring

FundThrough


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Pros

  • No credit score, time-in-business, or revenue requirements
  • Transparent fees
  • Faster than traditional invoice factoring
  • QuickBooks Online integration

Cons

  • Only works with B2B businesses with large unpaid invoices

Why FundThrough Works Well For Invoice Factoring

FundThrough is an invoice factoring service for B2B businesses that frequently have unpaid invoices. FundThrough offers transparent fees and quick service--simply choose invoices you want to fund using FundThrough, and you will receive payment on the invoice, minus a percentage-based fee, within days. Conveniently, FundThrough also connects with invoicing software such as QuickBooks to automatically sync your invoices.

FundThrough Rates & Fees

FundThrough rates vary depending on the invoice’s net terms. For net terms of 1- 30 days, FundThrough’s fee is 2.50% (or a factor rate of 0.0275). After 31 days, the fee rises to 3.75%. After 45 days, the fee is 5.5%, and if net terms exceed 60 days, the fee is 8.25%. There are no other fees charged.

FundThrough Eligibility Requirements

To be eligible for FundThrough, you must meet the following requirements:

  • You invoice other businesses or government agencies
  • You have an invoice of at least $100K in accounts receivable (or multiple invoices to the same customer)
  • Invoices are less than 90 days old.

After the initial funding, you can fund invoices of any size.

FundThrough does not serve construction or real estate businesses.

FundThrough Is Best For Businesses That:

  • Are B2B companies
  • Invoice large businesses (like big-box stores) or government agencies
  • Have an outstanding invoice of at least $100K

Get Started With FundThrough

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Kiva U.S.: Best For Startups

Kiva U.S.


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Pros

  • No interest or other fees
  • Long repayment term
  • Monthly repayments
  • No business qualifications needed

Cons

  • Low borrowing amounts
  • Must solicit lenders from personal network
  • Not available in Nevada or North Dakota

Why We Chose Kiva For Startups

Through Kiva crowdfunded business microloans, you can take out a no-interest small business microloan. Kiva works well for startups that aren't ready for business loans yet but could benefit from a small amount of capital and are already good at social media. Kiva does not require a credit check. Instead, you just need to demonstrate your social capital by collecting some donations from your personal networks online.

Kiva U.S. Rates & Fees

Kiva loans do not have any interest or other fees. You simply need to make your loan payment every month, for a period of 6 to 36 months, depending on your loan terms.

Kiva U.S. Eligibility Requirements

Kiva does not have any credit score, business revenue, or time-in-business requirements. You do need to have a PayPal account, not be a registered sex offender, and meet a few other basic requirements. You’ll also need to rally between 10 and 25 friends, family members, and colleagues to lend a small amount of money to your fund before your campaign will go live to the public.

Note that the maximum amount you can borrow is based on the age of your business. For business ideas, you can only borrow $1,000. For businesses up to three months old, you can raise up to $5,000. If your business is in operation and bringing in revenue, you can receive the maximum amount of $15,000.

Kiva Is Best For Businesses That:

  • Need a small amount of capital to start or maintain a business
  • Are comfortable soliciting loan backers from their personal networks online
  • Are good at social media and/or have experience with crowdfunding

Get Started With Kiva U.S.

Read our in-depth review

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Our Methodology For Choosing The Best Business Loans With No Credit Check

To find the best business loans with no credit check, we examined various small business loans and business financing services that do not conduct either a hard or soft credit check at any point during the application or approval process.

We made an effort to include different types of business financing products that would fit different business needs, such as invoice factoring, business credit cards, microloans, etc. We only included lenders with transparent, reasonable fees and a positive overall industry reputation.

Pros & Cons Of No Credit Check Business Loans

Pros

  • Easy to qualify with bad credit or no credit
  • No specific collateral required (usually)
  • May help you build credit (if lender reports payments to credit bureau)
  • Startups may be eligible
  • No ding to your credit score

Cons

  • May have high revenue requirements
  • May require blanket lien and personal guarantee
  • Not all lenders report to credit bureaus
  • Usually comes with high interest rates & fees
  • Usually has short repayment schedule
  • May have low max borrowing amount
  • May have other special requirements (such as using a specific processing service)

Before applying for no credit check business loans, be aware that these loans tend to have high interest rates, short repayment terms, and harsh collateral requirements—such as having to sign a blanket lien and/or a personal guarantee.

Remember, your goal is to find an affordable loan that gives the best return on investment, so you can launch or build your business without taking on unnecessary debt.

Hard VS Soft Credit Inquiries

It’s important to know the difference between hard and soft credit checks when applying for loans. While none of the six lenders discussed in this post require a soft or a hard credit inquiry, most small business lenders do both a soft and a hard credit inquiry at different points in the loan approval process.

Soft Credit Inquiries

A soft credit inquiry — or soft credit pull — does not affect your credit. Soft credit pulls are used to verify your identity and give lenders an overall picture of your creditworthiness. A soft credit check is usually performed during the prequalification stage to ensure you meet the lender’s basic requirements. From this check, the lender can see your credit score, but the inquiry won’t ding your score or show up on your credit report.

Hard Credit Inquiries

A hard credit inquiry — or hard credit pull — will affect your credit. It will also show up on your credit report. This credit pull gives lenders a more specific, detailed view of your credit history. Lenders can use this information to determine your loan approval, interest rates and/or fees, and if collateral or a cosigner is required. A hard credit pull is usually only performed during underwriting after you accept a loan offer.  

Because a hard inquiry is typically only performed during the final underwriting stage before funding, you can apply and be pre-approved for multiple online loans without ever incurring a hard credit check. Usually, online lenders will make it clear that applying will not affect your credit score, meaning they only do a soft credit pull.

Impact On Your Credit Report

You don’t need to avoid applying to loans that require soft credit checks because you’re afraid of it hurting your credit score or showing up on your credit report. Even if you shop around and are pre-approved for multiple loans, you will typically only have to submit to one hard credit check during the final approval stage for whichever loan offer you accept. Just make sure that the lender specifies that they won’t do a hard pull on your credit when you apply.

Alternatives To Small Business Loans With No Credit Check

You may not be able to get a loan — for example, if you don’t meet lenders’ qualifications because of time-in-business, business revenue, or other requirements. Other than business loans, here are a few financing options for businesses that have bad credit or don’t want to add a hard pull to their credit report.

Crowdfunding

With a business crowdfunding campaign, you can fund your startup by pitching to investors online. How it works is business owners (often startups) offer investors a perk or incentive for investing. In many cases, equity is provided in exchange for an investment. For other businesses, offering some kind of reward — such as a free or reduced-price upcoming product — is enough to entice investors.

One of the best things about crowdfunding is that requirements are much different from traditional business loans. Most crowdfunding platforms do not require a set time in business, a personal or business credit score, or even an annual business revenue to launch a campaign.

Equipment Financing

With equipment financing, you can receive the money you need to purchase long-term equipment, from heavy machinery to company vehicles, even if you have bad credit. Usually, equipment financing companies do require a credit check, but often you can still qualify for an equipment loan with bad credit. Since the lender can repossess the equipment if you default, your credit score is not as large of a factor as it is in a traditional business loan.

You might also be able to get an equipment lease with bad credit or no hard credit check at all. Learn about the differences between equipment leases vs. equipment loans.

Business Grants

A business grant is like a loan that you do not have to pay back. Even better, business grants usually do not have any credit score, time in business, or revenue requirements. Though competition for these funds can be pretty stiff, it’s definitely worth looking into to see if there are any grants you may be eligible for.

Business grants may be offered by government agencies, private companies, business associations, and other organizations. The best place to start looking is usually within your local business community since most small business grants are regional. There are also business grants for different business owner demographics, such as business grants for women.

The Bottom Line On No Credit Check Loans For Business

It’s important to note that the better your credit is, the more loan options will become available to you. If bad credit is what’s holding you back from applying for a traditional business loan, the first thing you should do is try improving your credit score.

Once you can at least get your credit score to the 500s, you might graduate from no-credit-check loans and qualify for a “bad credit” business loan, even as a startup. Explore our picks for the best small business loans for startups with bad credit.

FAQs About No Credit Check Small Business Loans

Do banks offer no credit check business loans?

Banks have pretty strict borrower requirements for business loans, usually requiring a credit score of at least 700 and two years in business. It’s not possible to get a business loan through a bank without a credit check.

How do I check my credit score?

Use a free credit score site, such as Credit Karma or WalletHub. You will have to sign up and enter your personal information, including your full legal name and SSN, but the process should be quick, easy, and free.

Can you get a business loan with no credit?

Yes, some alternative lenders, such as Upstart, will extend you a loan even if you don’t have sufficient credit to generate a credit score. These lenders will typically look at other aspects of your business health or income, rather than your credit history.

Can I get a business loan with a bad credit score?

Yes, some lenders specialize in business loans for bad credit, and certain lenders do not check your credit at all.

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Shannon Vissers

Shannon Vissers

Lead Staff Writer: Payment Processing at Merchant Maverick
Shannon has been writing for Merchant Maverick about small business software and financing since 2015. She started writing professionally about business topics in 2005. Shannon has been featured in the Washington Post, Reader's Digest, US News, MSN, Yahoo Finance, Business Insider, and other publications. She has a bachelor's degree in English from San Diego State University and currently resides in San Diego, California.
Shannon Vissers
View Shannon Vissers's professional experience on LinkedIn.