Fuel Your Business Growth with a Flexible Small Business Line of Credit

Small business line of credit (LOC) can be a powerful tool for business owners looking to manage cash flow, invest in growth, or cover unexpected expenses. With flexible repayment terms and the ability to draw funds as needed, an LOC can help keep your business running smoothly without the pressure of a traditional loan. In this article, we'll explore the best small business lines of credit available and explain the pros and cons of each provider.

Top 10 Small Business Lines of Credit Providers

Here are 10 recommended small business line of credit providers. Each company offers different features, benefits, and drawbacks, so it's important to find the one that fits your business needs.

Pros: Quick approval process with high credit limits up to $250,000. No fees for maintenance or prepayment. Offers flexible repayment terms.

Cons: Requires at least six months in business. Higher interest rates for businesses with lower credit scores.

Why recommend: BlueVine is an excellent choice for businesses looking for a fast and reliable line of credit with minimal fees.

Visit BlueVine

Pros: Fast access to funds and automated application process. Offers lines of credit from $2,000 to $250,000. Flexible repayment terms.

Cons: Higher interest rates, especially for lower credit score borrowers. Charges monthly fees that can add up over time.

Why recommend: Kabbage is perfect for businesses that need quick access to capital and are comfortable with higher interest rates for the convenience of fast funding.

Visit Kabbage

3. OnDeck

Pros: High credit limits up to $500,000. Fast application process and quick funding. Offers both lines of credit and term loans.

Cons: Requires a minimum of one year in business. Higher interest rates compared to traditional banks.

Why recommend: OnDeck is a strong option for established small businesses that need quick, flexible access to funds and have a solid credit history.

Visit OnDeck

4. Fundbox

Pros: Easy application process with fast funding. Offers lines of credit up to $150,000. Flexible repayment terms of 12 or 24 weeks.

Cons: Interest rates can be high, especially for shorter repayment terms. Requires weekly payments.

Why recommend: Fundbox is ideal for businesses that need quick access to funds and can manage short-term repayment schedules.

Visit Fundbox

5. LendingClub

Pros: Offers lines of credit up to $300,000. Low fees and flexible repayment options. Great for businesses with strong credit scores.

Cons: Requires a minimum credit score of 600. Not available for startups or businesses with fewer than 2 years in business.

Why recommend: LendingClub is a reliable choice for businesses with solid financial standing and a good credit history looking for a low-cost line of credit.

Visit LendingClub

6. Fundera

Pros: Works with multiple lenders to offer a range of options. Provides loans, lines of credit, and SBA loans. Great for finding the best deal.

Cons: Fundera is not a direct lender, so it may take longer to get a decision. Can have higher fees depending on the lender.

Why recommend: Fundera is perfect for business owners who want to compare multiple options and find the best deal for their needs.

Visit Fundera

7. PayPal Working Capital

Pros: Simple application process. Quick access to funds with no credit check required. Repayment based on sales, so it’s flexible.

Cons: Requires a PayPal business account. May not be suitable for businesses that don’t rely heavily on PayPal for transactions.

Why recommend: PayPal Working Capital is ideal for businesses that use PayPal for their sales and need fast, flexible funding without the need for traditional credit checks.

Visit PayPal Working Capital

8. StreetShares

Pros: Offers lines of credit for veteran-owned businesses and other small businesses. Low fees and flexible terms.

Cons: Requires at least one year in business. Interest rates may be high for those with lower credit scores.

Why recommend: StreetShares is an excellent choice for veteran entrepreneurs and small business owners who need a supportive funding partner.

Visit StreetShares

9. Fundation

Pros: Offers both lines of credit and term loans. Clear, upfront pricing with no hidden fees. Great for businesses looking for long-term financing options.

Cons: Requires a minimum of 2 years in business. The approval process can take longer compared to other options.

Why recommend: Fundation is a great choice for businesses that have been around for a while and want clear, transparent terms for their credit lines.

Visit Fundation

10. National Funding

Pros: Provides fast access to capital with a quick application process. Offers both lines of credit and equipment financing options.

Cons: Higher interest rates for businesses with lower credit scores. Shorter repayment terms compared to other lenders.

Why recommend: National Funding is great for businesses needing fast capital but may not be the best for those looking for low-interest rates or long repayment terms.

Visit National Funding

Comparison Table