Top Small Business Loan Lender Reviews
Trustpilot: 4.8/5 | Min credit: 625 | Funding: 1 business day. The most established online small business lender — founded 2006, over $15 billion funded. Transparent pricing (shows APR clearly), fast decisions, and strong customer service. Term loans up to $250,000 and lines of credit up to $100,000. Renewal rates often improve with on-time payment history. Some complaints about high rates for lower credit profiles — expected for online lenders.
Trustpilot: 4.4/5 | Min credit: 625 | Funding: Same day. Specializes in business lines of credit — $6,000 to $250,000. Strong technology platform with bank-grade security. Also offers business checking accounts, making it a complete business banking solution. Best for businesses with $500,000+ annual revenue. Some limitations for newer businesses under 2 years.
Trustpilot: 4.8/5 | Min credit: 550 | Multiple lenders. A loan marketplace that matches your application to 75+ lenders simultaneously. One application, one soft credit pull, multiple offers. Best for: business owners who want to compare options without multiple hard inquiries. Not a direct lender — rates vary by the lender who approves you.
Trustpilot: 4.6/5 | Min credit: 650 | Funding: 7–30 days. Specializes in SBA 7(a) loans through their network of SBA-preferred lenders. Technology platform streamlines the typically paper-heavy SBA process. Best rates available for qualifying businesses. Not for businesses needing fast funding — SBA timelines still apply.
Frequently Asked Questions
Lendio (marketplace) and Fundbox consistently report the highest approval rates because they match borrowers to the most suitable lender or approve based on revenue rather than credit score alone. OnDeck also has strong approval rates for businesses meeting their minimum requirements. Traditional banks have the lowest approval rates (approximately 15–20% for small business loans under $250,000).
Brokers and marketplaces (Lendio, Fundera, Biz2Credit) can save time and show multiple options but may charge broker fees or receive lender commissions. Direct applications to lenders save on fees but require more research. For your first business loan, a marketplace helps you understand what's available. For renewals with an established lender relationship, apply direct.