The alternative lending market has grown a lot in the last decade. There are plenty of options if you need fast business funding. Even if you have bad credit, some of the best business loan companies will still lend you money.
Of course, there are many things to keep in mind before you take a fast business loan. We’ve gone over those factors with several articles in the past. We suggest you read them and take your time before choosing an alternative lender. With that in mind, let’s look at the best business loan companies you can find online in 2020.
The Best Business Loan Companies
First, let’s go over the best business loan companies. We will be sure to share what makes them the best companies, with their particular strengths highlighted.
Flexible & Straightforward: Kabbage
| Lender | Minimum Revenue | Time In Business | Minimum Credit | Next Steps |
|---|---|---|---|---|
 |
$50,000/yr | 1 year | 560+ | See if you qualify |
Kabbage is one of the simplest business lenders on the market. The best thing about them is that they do not try to hide any of their fees from you. From start to finish, there are no surprises with Kabbage. This is perhaps why the company is so well-regarded by customers.
Trustworthy customer review platforms such as the Better Business Bureau and Trustpilot give the lender far better reviews than other lenders often get. This is remarkable seeing as the BBB is often where people go to complain after having trouble. Yet, Kabbage maintains a strong reputation across all mediums.
The reason for Kabbage’s strong customer satisfaction is clear as day. While the company has a slightly complicated price structure, it is all advertised on their site. No matter what happens, they will make sure your experience is simple. Also, they will let you know exactly how much you will have to pay before you accept an offer.
Strong Financial Service Reputation & Customization: PayPal’s Loanbuilder
| Lender | Minimum Revenue | Time In Business | Minimum Credit | Next Steps |
|---|---|---|---|---|
 |
$42,000/yr | 9 months | 550+ | See if you qualify |
PayPal offers a slew of straightforward financial services. One of their newest services is its loanbuilder service.
PayPal Loanbuilder offers only one product: a simple business term loan. Within that umbrella, they offer among the widest arrays of rates.
The key feature of Loanbuilder is the LoanBuilder Configurator. This configurator is full of sliding bars that allow you to build the loan you want to get. You can slide and select settings for:
- Loan sums from $5,000 to $500,000
- Your estimated annual revenue
- Your credit score
- Loan terms
- Total repayment amounts
- More!
Loanbuilder uses all this information to qualify you for loans. The best part is that you can use the configurator to decide if you want a loan from them in the first place. So, you can figure out the kinds of offers you’ll get without so much as submitting personal information. This level of transparency is seldom seen from any kind of lender. Because of this, you should give Loanbuilder a try even if you have no intention of using the service. You might even be surprised.
Sky Bridge: The Best Business Loan Company for Prior Bankruptcies or Low Credit
| Lender | Minimum Revenue | Time In Business | Minimum Credit | Next Steps |
|---|---|---|---|---|
 |
$15,000/mo | 6 months | n/a | See if you qualify |
The above options probably sound great. But the thing is that once your credit score reaches a certain low point, your options become very limited. Alternative lenders are far more lenient with credit scores on average. Still, Kabbage and Loanbuilder carry minimum credit score requirements. The minimums are 560 and 600, respectively. Skybridge Funding, on the other hand, has ZERO credit score requirements.
When it comes to financing options without credit score checks, you can usually expect merchant cash advances (MCAs). That is exactly what Skybridge Funding offers. But what sets them apart from their MCA competition is their extraordinary customer service. They even go so far as to match you with a loan adviser who will walk you through the whole process!
While MCAs cost a lot and are not the best option, bad credit financing is not an ideal option to have to resort to. That being said, Skybridge treats its bad credit customers with more care than most.
National Funding
| Lender | Minimum Revenue | Time In Business | Minimum Credit | Next Steps |
|---|---|---|---|---|
 |
$100,000/yr | 1 year | 500+ | See if you qualify |
National Funding is one of the oldest online lenders in the market today. They can provide fast loans of up to $500,000. Also, while most of the examples we’ve listed have credit score requirements starting at 560, National Funding only requires a credit score of 500. So, if you need a fast loan and have bad credit, National funding might be the solution you’re looking for.
The only potentially difficult requirement National Funding has is a minimum revenue of $100,000 to qualify. Despite that, the company will extend loans to borrowers with credit scores as low a 475. This access makes National Funding a top choice for borrowers struggling with their credit score.
eCommerce Business? Try Clearbanc
| Lender | Minimum Revenue | Time In Business | Minimum Credit | Next Steps |
|---|---|---|---|---|
 |
$10,000/mo | 6 months | 550+ | See if you qualify |
Clearbanc is a unique company with a very small customer base. While the company looks to expand, they only lend to:
- Online retailers
- Subscription box companies
- Direct-to-consumer companies
- Mobile apps with in-app purchases
- B2B SAAS companies
- Mobile games with in-game purchases
If your business falls into any of the above, Clearbanc can provide you with fast merchant cash advances. At best, they can provide $10,000,000 in funding in just three days. Clearbanc is also transparent; they charge no hidden fees. Also, the rate they give you at the start does not change during the repayment process.
Clearbanc charges a rate of 1%-20% for their advances. But the company is willing to negotiate with borrowers to find a good rate that’s suitable and fair for them. They will assess your business finances and try to work out an offer that doesn’t interrupt your cash flow more than necessary.
Can’t Decide? Become Offer’s the Best Business Loan Variety
| Lender | Minimum Revenue | Time In Business | Minimum Credit | Next Steps |
|---|---|---|---|---|
 |
$10,000/mo | 3 months | n/a | See if you qualify |
Become is an online lending marketplace that provides a wide range of fast loans. They offer loans from $5,000 to $500,000. Repayment terms vary from 3 months to 10 years.
Become holds many different types of loans. For the highest-credit and most profitable borrowers, they offer Small Business Administration loans. These loans have the best rates you can find and the longest repayment terms. Bad credit borrowers can apply for merchant cash advances and small business loans with low requirements. Because it’s an online lending marketplace, Become doesn’t have high requirements for using the site.
If you’re looking to compare options on one simple platform, give Become a look.
