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Small Business Loan Comparison

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Ease of ApplicationExcellentExcellentExcellentFairExcellent
Customer SupportExcellentExcellentExcellentExcellentExcellent
Borrower Qualifications
Required Time in Business12 months6 months12+ months2 years6 months
Required Credit Score600550600650500
Required Revenue$100K/yr$10K/mo$10K/moN/A$10K/mo
Product Details
Products OfferedShort-term loan and line of creditTerm loan, merchant cash advance, short term loan, SBA loan, business line of credit, business credit card, equipment financing, invoice financingSBA loan, business line of credit, short term loan, medium term installment loan, merchant cash advance, business credit card, equipment financing, invoice financing, personal loans for businessSBA installment loanShort-term loan
Borrowing Amount$5K - $500K$2K - $5M$5K - $5M$30K - $5M$5K - $400K
Term Length3 - 36 monthsVarious optionsVaries10 or 25 years6 - 24 Months
Interest or Factor Rate0.4% - 0.43% of the borrowing amount/moAs low as 2%Starting at 7%Prime rate + 1.5% - 3.75%Starts at x1.09 factor rate
Other Fees0% - 4% origination feeNoneVariesN/A2.5% origination fee
Time to Funding2 - 5 daysOffers in 1 - 2 daysOffers in 1 - 2 days7 - 60 days2 - 5 Days
Repayment FrequencyDaily or weeklyVariesVariesMonthlyDaily or weekly
Interest Or Factor Rate0.4% - 0.43% of the borrowing amount/moAs low as 2%Starting at 7%Prime rate + 1.5% - 3.75%Starts at x1.09 factor rate
Origination Fee4% - 6.25% plus bank fees
Time To Funding2 - 5 daysOffers in 1 - 2 daysOffers in 1 - 2 days7 - 60 days2 - 5 Days
Required Time In Business12 months6 months12+ months2 years6 months
Ease Of ApplicationExcellentExcellentExcellentFairExcellent
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Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.

Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

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