✍️ MoneyVerge Editorial Team 📅 August 2026 ⏱️ 5 min read
📌 Key Takeaway: Key small business loan facts: most online lenders require 6+ months in business and 600+ credit score; SBA loans offer the best rates but take 30–90 days; always compare APR not factor rates; personal guarantees are standard on most business loans; and improving your credit score by 50 points can significantly improve your rate.

General Questions

What is the easiest small business loan to get?

Merchant cash advances and invoice financing have the lowest credit requirements. For more traditional financing, Fundbox and BlueVine have the most accessible approval requirements for online term loans and lines of credit. SBA microloans through nonprofit lenders are the most accessible for startups with limited history.

Can I get a small business loan if my business is new?

Most lenders require at least 6 months in business. For truly new businesses (under 6 months): SBA microloans from nonprofit lenders, personal loans used for business, business credit cards, or equipment financing (if purchasing equipment) are the most accessible options. Having a strong personal credit score (720+) and significant personal assets significantly improves startup loan prospects.

Is a personal guarantee required for business loans?

Yes — most small business loans require a personal guarantee from owners with 20%+ ownership. This means you're personally liable for the debt if the business defaults. SBA loans always require personal guarantees. Some online lenders offer unsecured loans without personal guarantees for established businesses with strong revenue, but these are the exception.

How much of a small business loan can I get?

Typically 10–30% of your annual revenue for online lenders. If your business makes $500,000/year, expect approval for $50,000–$150,000 from most online lenders. Banks and SBA lenders consider total assets, profitability, and collateral — potentially higher amounts. The exact amount depends on your debt service coverage ratio (how much cash flow you have relative to debt payments).