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Business Loans

Best Easy Business Loans



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Summary: The easier the process for getting a business loan the better. We go over the companies that offer the best easy business loans.

While coming up with a solid concept for your business can mean the difference between success and failure, start-ups need more than hopes and prayers to get off the ground. 

You need money to turn your idea into a strategy, and even more money to take that strategy and implement it in the real world. 

It’s definitely possible to save up the seed money for your business, or to work full-time or part-time to fund your business while it grows.


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Small Business Loans ($250k)

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However, many entrepreneurs opt to fast track their plans with an easy business loan. 

These loans are available for borrowers with poor credit to excellent credit, and some types of loans don’t even require a credit check at all.

If you’re angling for small business funding and you need a small business loan fast, consider these lenders and loan comparison websites:

easy business loans

OnDeck

OnDeck is a popular online lender that lets small business owners apply for term loans or lines of credit. 

Their term loan option is popular since you can borrow between $5,000 and $500,000 with a repayment timeline between 3 and 36 months. 

This type of loan can also come with same-day funding if you qualify, and your payments are automatically deducted from an account based on a schedule you agree upon. 

According to a U.S. Bank study, a whopping 82% of businesses that failed cited cash flow problems as a factor in their failure.

Finally, OnDeck small business loans can help you build your business credit score since they report your on-time payments to the credit bureaus.

Eligibility requirements: To qualify for a small business loan from OnDeck, you need to be in business for at least two years and have an annual revenue of at least $250,000 in the last 12 months. 

But you only need a credit score of 600 at minimum, so this makes OnDeck an easy business loan option for bad credit.

LendingTree

We consider LendingTree a supplier of easy business loans based on the simple fact they let consumers compare multiple loan options in one place.

LendingTree is a loan aggregator, meaning you can enter your personal information and loan request once, then compare loan offers from several different lenders without having to apply with each of them individually.

Quick Tip for Start-Ups:

Personal loans are a great way to fund a new business if you can't qualify for a business loan or 0% credit cards.  For personal loans up to $35,000, visit our #1 recommended personal lender.

LendingTree also lets you apply for Small Business Administration (SBA) loans, business lines of credit, and equipment financing. You can choose from long-term or short-term business loans as well. 

Eligibility requirements: Because LendingTree is a loan comparison site, they don’t have specific business loan eligibility requirements. Once you enter your information, you’ll be matched with lenders who may find you eligible for the funding you need.


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Small Business Loans ($250k)

Get your no-obligation quote in as little as 10 minutes.  Up to $250,000 in working capital in 24 hours.

It's quick, easy, and free.


BlueVine

BlueVine offers small business loans, small business lines of credit, and other types of financing. Their term loans are popular since you can borrow up to $250,000, and you can even apply online and get an answer in a matter of minutes. 

Loans from BlueVine also come with transparent pricing with the option to pay a fixed weekly rate over 6 or 12 months. Your payments will also be auto-debited from your account every week, so you don’t need to worry about missing one.

Eligibility requirements: To qualify, you’ll need to have been in business for at least 6 months with a minimum of $10,000 in monthly revenue. You also need a FICO score of at least 600 to qualify.

How Much Do Startups Need?

According to the Wells Fargo Small Business Index, $10,000 is the average amount of startup capital required by a small business owner.  

Funding Circle

Funding Circle is an online platform that makes it easy to apply for SBA loans, including loans from the popular SBA 7(a) loan program.

You can borrow between $20,000 and $5 million with these loans, and you can repay amounts you borrow for up to 10 years.

Small business loans through Funding Circle also come with competitive interest rates and no prepayment penalties.

The best part is, Funding Circle makes it easy to apply for a SBA loan through their intuitive online platform. You can even check your eligibility on their website without a hard inquiry on your credit report. 

Eligibility requirements: To qualify for a SBA 7(a) loan through Funding Circle, you need to be in business for more than three years and have at least $500,000 in annual revenue. You also need a minimum FICO score of 680 and personally guarantee the loan.


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Get your no-obligation quote to see how much capital you could access.  Up to $250,000 in working capital in 24 hours.

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Lendio

Lendio is a loan comparison site that promises “simple small business loans” and they definitely deliver. This company offers a wide range of products including business lines of credit, merchant cash advances, equipment financing, and more traditional small business loans. They even make it possible to apply for SBA loans through their platform.

Their most popular standard business loan is their business term loan, which lets you borrow between $5,000 and $2 million for your business goals. You can repay your loan over 1 to 5 years, and it’s possible to see your money hit your bank account within 24 hours. 

Eligibility requirements: Lendio is another loan comparison site, so they don’t have specific eligibility requirements. However, they say their partners will consider your time in business, your credit score, any collateral you have, and your revenue.

Business Loan Funding Equals Opportunity

How to Score an Easy Small Business Loan

The lenders above provide a great place to start your search, but there are more steps involved in getting an easy business loan.

Before you submit your application and apply, here are some additional tips to consider:

  • Check your credit score. Most lenders have a minimum credit score requirement, so it helps to know where you stand ahead of time. Check your credit score before you apply, and you will have a better idea of the loans you can qualify for. We’re on your side and ready to help, so you can use our website to check your credit score for free

  • Improve your credit if you need to. If your credit is poor enough, you may want to look specifically for easy business loans for bad credit. However, you may need to pay a higher interest rate or put down collateral to qualify in that case. Conversely, you should also take steps to improve your credit score so you can qualify for better financing options down the line. 

  • Gather your paperwork ahead of time. Most lenders will want some information from you outside of your loan application. For example, your loan application may require you to submit a few years of bank statements, your personal and business tax returns, information on any collateral you plan to use to secure the loan, and more. 

  • Compare lenders and rates. Make sure you don’t go with the first lender you come across since some may offer considerably better rates and terms. At the very least, we suggest comparing at least three lenders in terms of their total loan costs. If you want to compare multiple lenders in one place, make sure to shop around with a loan comparison site like WebBank or Lendio.

  • Consider small business loan alternatives. Also consider alternatives to business loans that might work better or be easier to qualify for. If you need an easy business loan with no credit check, for example, a merchant cash advance may be what you’re after. At the last resort, you can also consider the prospect of taking out a personal loan or using a credit card to fund your business goals.


credit knocks logo

Small Business Loans ($250k)

Get your no-obligation quote in as little as 10 minutes.  Up to $250,000 in working capital in 24 hours.

It's quick, easy, and free.


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