6 Small Business Loans That Don’t Require A Credit Check
Finding a business loan with no credit check can be a daunting task, but it’s not impossible. Learn about our top no credit check loan recommendations.

You need extra capital for your business, and a small business loan seems like the logical next step. But how do you get a loan when you want to avoid a credit check? The answer lies in no credit check business loans.
Maybe your credit score is low, and you don’t think you’ll qualify for a loan or other financing. On the flip side, you may have a great credit score, and you don’t want to tarnish your report with inquiries from lenders. No matter your reasoning, there are plenty of business loans with no credit check and even some same-day business loans with no credit check.
Read on to learn about the best no credit check business loans.
Learn More About Our Top Picks
Other Featured Options:
- Shopify Capital: Best for merchants who sell with Shopify.
Read more below to learn why we chose these options.
Table of Contents
- Best No Credit Check Business Loans
- Other Options For No Credit Check Business Financing
- Hard VS Soft Credit Inquiries
- How To Know If You Have Good Or Bad Credit
- What To Do If You Can’t Get A No Credit Check Business Loan
- FAQs About No Credit Check Business Loans
- Can You Get A Small Business Loan With No Credit Check?
- In Summary: Best No Credit Check Business Loans
Best No Credit Check Business Loans
The best no credit check business loans are:
- American Express Working Capital Terms
- Square Capital
- PayPal Working Capital
- Kiva U.S.
- Benetrends
- Shopify Capital
None of these no credit check business loans perform a soft or hard credit pull. The lenders are also highly rated (4.5 stars) by Merchant Maverick.
1. American Express Working Capital Terms
American Express Working Capital Terms |
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Pros
- No origination fee
- Fast funding (one to two days)
- Good borrowing rates
- Good customer service
Cons
- Only available to AMEX business cardholders
- Can only be used to pay vendors
American Express offers several different types of business financing, one of which is American Express Working Capital Terms, which can be used to pay vendors. To apply for Working Capital Terms, you need to be an AMEX business cardholder.
Your business also needs to make $200,000 a year and have been in business for 24 months. American Express will not run a new credit check when you sign up for a working capital loan; instead, the company uses the information it has on file about you as an AMEX customer.
AMEX Working Capital Loans are a special type of loan used to pay a business’s vendors. As the loan recipient, you will not receive any of the loan proceeds directly; instead, the funds are sent directly to your vendors. This type of financing can be a good solution if you are struggling with cash flow to pay vendors and/or your vendor does not accept credit cards. Just be aware that even though AMEX will not run your credit when you apply, getting approved for an AMEX business card requires good credit (at least at the time when you apply for the credit card).
These short-term loans range from $500 to $150,000 per loan, with a term length of 30, 60, or 90 days. Fixed fees range from 0.6% to 5.25%, and you do not repay the loan in installments; instead, the full amount is automatically deducted from your bank account at the end of your term.
2. Square Capital
Square Capital |
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Pros
- Good borrowing rates
- Relaxed borrower requirements
- Fast and 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
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 your Square loan is repaid automatically as a percentage of your daily credit card sales. 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.
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.
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 is that the company will eventually extend you an offer.
3. PayPal Working Capital
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
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. 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. Also similar to Square, 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 $125K for your first two loans and $200K for loans after that. Factor rates span a wide range, from approximately 1.01-1.58. These no credit check business loans have a quick and simple application, and best of all, this is a same-day no credit check business loan: approved loans can get funded within minutes of applying.
4. Kiva U.S.
Kiva U.S. |
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Pros
- No interest
- Long repayment term
- Monthly repayments
- Suitable for startups
Cons
- Low borrowing amounts
- Must solicit lenders from personal network
Through Kiva crowdfunded business loans, you can take out a no-interest microloan, which you then repay over six to 36 months.
Kiva does not require a credit check. Instead, once your application is approved, you will enter a 15-day private funding period. During this time, you’ll need to rally between five and 25 friends, family members, and colleagues to donate to your fund. After you reach your lender target, your campaign will go live to the public, and you can interact with potential investors to try and crowdfund your loan within 30 days. When all money has been raised, you’ll receive your loan through PayPal within one week.
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.
5. Benetrends
Benetrends |
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Pros
- Startup-friendly
- Business loan alternative
- No upfront taxes or early withdrawal penalties
- Includes legal compliance
Cons
- Risky if you don’t have any additional retirement savings
- Requires setup fee and ongoing monthly fees
When it comes to ROBS (Rollovers as Business Startups) providers, you won’t find a more experienced one than Benetrends. Benetrends created the Rainmaker Plan, and it was the pioneer of ROBS, which allows you to roll over your 401(k) or IRA retirement account to fund a business without paying any tax penalties. Since 1983, Benetrends has secured funding for over 17,000 business owners and is a popular choice for franchise financing in particular.
To qualify for the Benetrends Rainmaker Plan and start using your retirement account funds to finance your business, you must have an eligible retirement account with at least $50,000.
Benetrends charges a setup fee of $4,995 to start your customized ROBS plan. After this, a monthly maintenance fee of $139 is required. With Benetrends, you’ll receive audit protection, compliance, and a team of certified in-house professionals to help create and maintain your plan.
6. Shopify Capital
Shopify Capital |
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Pros
- High 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
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 $2,000,000, depending on your sales volume and your business’s risk profile. There is no credit check or requirements as to revenue or time in business.
In terms of loan structure, 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.
You can’t apply for Shopify Capital financing. Shopify monitors its users’ accounts and then extends offers to those eligible for financing.
Get Started with Shopify Capital
Other Options For No Credit Check Business Financing
Other than no credit check 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.
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.
HardCredit 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
So 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.
How To Know If You Have Good Or Bad Credit
The main way to know if you have good or bad credit is to check your FICO score. You can do this using a free credit score site like WalletHub or Credit Karma.
FICO Credit Score Tiers
Generally speaking, your FICO credit score is good if it’s 700 or higher. But that doesn’t mean that you can never qualify for a loan if you fall within a lower credit tier. Let’s take a look at the different FICO credit score tiers.
What To Do If You Can’t Get A No Credit Check Business Loan
It may be the case that you are unable to get a no credit check loan — for example, if you don’t meet the qualifications for the above lenders because of time-in-business, business revenue, or other requirements. Still, you do have some options:
- Improve Your Credit Score: If bad credit is what’s holding you back, the first thing you should do is try fixing up that tarnished credit report. Read this article on how to do it: 5 Ways To Improve Your Personal Credit Score.
- Apply For Bad Credit Loans: If you can at least get your credit score to the 500s, you might qualify for a bad credit business loan, even as a startup. Read 8 Best Small Business Loans For Startups With Bad Credit to see some options.
- Apply For Grants: As mentioned above, grants can be a source of free business financing when you’re not able to get a loan. Check out this resource on how to find grant opportunities: How To Find Federal, State, & Local Government Small Business Grants.
- Look For Investors: If you have an innovative startup, you might attract investors who want equity in your company. You can seek out investors through equity crowdfunding, seed funding, or venture capital.
- Agree To A Soft Credit Check: Again, a soft credit check won’t show up on your report, so there’s really no reason to avoid them. Online business loan matchmaking services such as Lendio will perform a soft credit check to show you what loans you might be eligible for. This way, you can at least explore your options.
- Get A Business Credit Card: If the amount you need to borrow isn’t that large, you may be able to use a credit card instead. Yes, the best business credit cards require good credit, but there are also business credit cards for bad credit that will help you build credit while financing your business expenses.
FAQs About No Credit Check Business Loans
Can You Get A Small Business Loan With No Credit Check?
While getting a small business loan with no credit check is possible, it’s important to remember that your options will be limited. Traditional business lenders that offer low-interest loans will always perform a credit check before approving a loan.
Finding a business loan with no credit check can be a daunting task, but it’s not impossible. Before applying for these loans, be aware of the higher costs, additional requirements, and other special considerations. 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.
Want more business financing options? Read our article on the best business credit cards for bad credit or explore alternative financing for small businesses.
In Summary: Best No Credit Check Business Loans
- American Express Working Capital Terms: Best for AMEX business card holders.
- Square Capital: Best for merchants who sell with Square.
- PayPal Working Capital: Best for merchants who sell with PayPal.
- Kiva U.S.: Best for crowdfunding a microloan.
- Benetrends: Best for using a 401(k) to start a business.
- Shopify Capital: Best for merchants who sell with Shopify.
Im in need of 30 000 to finish my home
Hi Patrick,
Our primary focus is business loans rather than loans for personal use. However, we do know of personal lenders such as Prosper and Upstart, which might issue personal loans for this purpose. (But those loans definitely do require a credit check.) Sorry we couldn’t offer more guidance, but we wish you the best of luck with your house!
Im looking to get help funding me in my business. Im trying to start transportation service for the kids. Transport ting them back & fourth to school but need a big van
This comment refers to an earlier version of this post and may be outdated.
Hi Pamela,
Thank you for your question. It may be worth your while to look at Kiva or possibly a business auto loan or lease. It sounds like you may be a startup, and if bad credit is an issue, you should also take a look at our bad credit startup loans article. Best of luck to you!
This comment refers to an earlier version of this post and may be outdated.
Yes, but are these start-up loans?
This comment refers to an earlier version of this post and may be outdated.
Hi Greg,
Yep, we have an entire section in the article dedicated to Startups! You can also check out our Startup Loan comparison chart to see how some of our top choices stack up. Hope that helps.
This comment refers to an earlier version of this post and may be outdated.
We sell tires mainly your business within 75% tires we are interested in the program to become a merchant please contact us thank you
This comment refers to an earlier version of this post and may be outdated.
Hi James,
You’ll want to click on the vendor links within this post to sign up with one of them.
This comment refers to an earlier version of this post and may be outdated.