Small Business Loans
Summary
A marketing page from Fundera by NerdWallet, a small business loan marketplace that says it has secured $5.4B+ in funds, issued 114K+ loans and helped 77K+ small businesses. Fundera states it is not a direct lender and does not underwrite loans; it matches applicants with vetted lenders after a soft credit inquiry. The page describes SBA loans, term loans, lines of credit, equipment financing, invoice factoring that advances up to 90% of an invoice, merchant cash advances and commercial real estate loans. It says a merchant cash advance is not technically a loan and tends to be one of the most expensive types of business financing. Some lenders accept credit scores as low as 500, and some online lenders take startups with three to six months in operation.
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We help you find the best loan for your small business Getting a business loan can be challenging. We offer personalized guidance to help you choose the right financing solution with confidence. 4.8 Excellent $5.4B+ in funds secured 114K+ loans issued 77K+ small businesses helped Why choose Fundera by NerdWallet? It’s free Discover all of your options in one place for free. Compare multiple options in one place Complete one application and prequalify for multiple loan offers at once. Get funding, fast Receive funding in as little as one business day. Check out all the loan types available on our platform SBA loans Term loans Lines of credit Equipment financing Invoice factoring Merchant cash advance Commercial real estate loans SBA loans SBA loans are partially guaranteed by the U.S. Small Business Administration and issued by lending partners, like banks and credit unions. These loans can be used for a variety of purposes and offer long repayment terms, large loan amounts and low interest rates. Read More See Loan Options Term loans Term loans provide a lump sum of capital that you repay over a specific period of time, with interest. Short-term loans usually have repayment terms up to 24 months, whereas long-term loans can offer terms up to 10 years, or longer. Read More See Loan Options Lines of credit A business line of credit is a flexible form of financing that gives you the ability to draw from a set amount of funds when you need capital. Unlike a traditional term loan, you only pay interest on the funds you draw — and once you’ve repaid what you’ve borrowed, you can continue to draw on the line. Read More See Loan Options Equipment financing Equipment financing is a type of business loan used specifically for purchasing new or used equipment. You can get an equipment loan equal to up to 100% of the value of the equipment you’re looking to buy — which you then pay back over a certain period of time, with interest. The equipment you purchase serves as collateral on the loan. Read More See Loan Options Invoice factoring With invoice factoring, you sell your outstanding invoices to a factoring company at a discount. The factoring company advances you a percentage (typically up to 90%) of your invoice amount and assumes responsibility for collecting repayment. Once your customer pays, the factoring company sends you the difference, minus its fees. Read More See Loan Options Merchant cash advance A merchant cash advance (MCA) isn’t technically a business loan. Instead, a financing company gives you an advance of capital that you repay with a percentage of your debit and credit card sales, plus a fee. MCAs are easy to qualify for and fast to fund — but they tend to be one of the most expensive types of business financing. Read More See Loan Options Commercial real estate loans Commercial real estate loans are used to buy, refinance or renovate commercial property, such as office buildings, storefronts or warehouses. These loans typically function like term loans, where you receive a lump sum of money and pay it back over time, with interest. The commercial property that you buy or renovate serves as collateral on the loan. See Loan Options Check out all the loan types available on our platform SBA loans Term loans Lines of credit Equipment financing Invoice factoring Merchant cash advance Commercial real estate loans SBA loans SBA loans are partially guaranteed by the U.S. Small Business Administration and issued by lending partners, like banks and credit unions. These loans can be used for a variety of purposes and offer long repayment terms, large loan amounts and low interest rates. Read More See Loan Options Term loans Term loans provide a lump sum of capital that you repay over a specific period of time, with interest. Short-term loans usually have repayment terms up to 24 months, whereas long-term loans can offer terms up to 10 years, or longer. Read More See Loan Options Lines of credit A business line of credit is a flexible form of financing that gives you the ability to draw from a set amount of funds when you need capital. Unlike a traditional term loan, you only pay interest on the funds you draw — and once you’ve repaid what you’ve borrowed, you can continue to draw on the line. Read More See Loan Options Equipment financing Equipment financing is a type of business loan used specifically for purchasing new or used equipment. You can get an equipment loan equal to up to 100% of the value of the equipment you’re looking to buy — which you then pay back over a certain period of time, with interest. The equipment you purchase serves as collateral on the loan. Read More See Loan Options Invoice factoring With invoice factoring, you sell your outstanding invoices to a factoring company at a discount. The factoring company advances you a percentage (typically up to 90%) of your invoice amount and assumes responsibility for collecting repayment. Once your customer pays, the factoring company sends you the difference, minus its fees. Read More See Loan Options Merchant cash advance A merchant cash advance (MCA) isn’t technically a business loan. Instead, a financing company gives you an advance of capital that you repay with a percentage of your debit and credit card sales, plus a fee. MCAs are easy to qualify for and fast to fund — but they tend to be one of the most expensive types of business financing. Read More See Loan Options Commercial real estate loans Commercial real estate loans are used to buy, refinance or renovate commercial property, such as office buildings, storefronts or warehouses. These loans typically function like term loans, where you receive a lump sum of money and pay it back over time, with interest. The commercial property that you buy or renovate serves as collateral on the loan. See Loan Options How Fundera by NerdWallet works 1. Tell us about your business Answer just a few questions about your business to see which lending products you qualify for. It’s free and won’t impact your credit score. 2. Compare your loan options We match you with a variety of business loan options and provide guidance to help you choose the best one for your needs. 3. Get funded After loan approval, you’ll sign closing documents to receive your funds. Some lenders can approve and issue funds within one business day. See Your Loan Options Frequently asked questions Is Fundera by NerdWallet a direct lender? Fundera by NerdWallet is not a direct lender. We do not finance businesses or underwrite loans. As a marketplace, we connect you with a network of vetted business lenders, allowing you to see and compare multiple options at once. Will applying affect my credit score? We use a soft credit inquiry to determine which loan options are a match for your business, which will not affect your credit score. If you decide to move forward with any of our lenders, you may receive a hard credit inquiry, which would impact your credit score. You’ll be notified about this during the formal application process with that lender. How do business loans work? With most business loans, you’ll borrow money from a lender and repay it over a specific period of time, with interest. Loan amounts, repayment terms and interest rates will vary based on your loan type, lender and qualifications. Can I get a business loan with bad credit? Yes, it’s possible to get a business loan with bad credit; some lenders accept credit scores as low as 500. These loans tend to have higher interest rates and shorter repayment terms, however. What eligibility requirements do I need to meet to get a business loan? To access the widest variety of loan options, it’s helpful to have good credit, multiple years in business and strong revenue. Eligibility requirements will ultimately vary, however, based on the lender and loan type. Can startups get a business loan? Although it may be more difficult, it is possible for startups to get a business loan. Some online lenders will accept startups with three to six months in operation.
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