: Best for SBA loans
Up to
Based on the current prime rate of + and added % from Fundible
to months
6 months
- Low minimum credit score requirement
- Interest rates are capped by the SBA
- Funds can be used for a variety of startup expenses
- Not part of the SBA Preferred Lender Program (PLP)
- May take several weeks or months to process and approve
- May share your contact info with third-party lenders
Why we picked it
The U.S. Small Business Administration (SBA) works with lenders like to provide accessible, affordable business loans. These loans are often attractive due to their low interest rates and lengthy loan terms. But while many SBA lenders require businesses to be in operation for two to three years, offers SBA loans to businesses that are only six months old.
However, while an online lender may be able to provide same-day funding for traditional term loans, SBA loans can take up to two months or more to process and fund. Working with an SBA Preferred Lender can expedite this process, but is not a part of the Preferred Lender Program, meaning this option isn’t ideal for borrowers with urgent needs.