Online small business loans for you

Small business loans can be critical to your success as a business owner. Traditional banks are no longer your only option. From SBA loans to business lines of credit to invoice-based financing, you now have access to many options through online lenders. Find the business-financing product that is best for you.

SBA loan

The government-guaranteed business loan program works with banks to offer low interest rates and long-term repayment. SBA loans offer low rates and long repayment terms. But the process is time consuming and the requirements are strict. Only those with great personal credit, strong business finances and the bandwidth to wait for funding should apply. – Loan amounts: $30,000 to $5 million – APR range: 7% to 8% – Good for: large one-time investments, purchasing real estate or equipment, buying existing businesses, refinancing debt.

Business term loan

Online lenders offer term loans of up to $500,000. For a short-term loan, the repayment period typically ranges from six to 12 months, while a long-term loan’s repayment can extend up to 10 years or longer in some cases. – APR range: 7% to 98% – Good for: large one-time investments

Business line of credit

A business line of credit provides you with access to flexible cash. Lenders give you access to a specific amount of credit (say, $100,000), but you don’t make payments or get charged interest until you tap into the funds. – Credit line range: $2,000 to $500,000 – APR range: 9% to 108% – Good for: managing cash flow, handling unexpected expenses and financing short-term business needs.

Invoice factoring

Invoice factoring lets your small business turn its invoices (the money owed by customers that has yet to be paid) into immediate cash. You sell the invoices to a factoring company, which then gets paid when it collects from your customers. If you’d rather maintain control over your invoices, invoice financing is an alternative to factoring. – Financing amounts: $500 to $500,000 – APR range: 11% to 64% – Good for: managing cash flow, short-term financing

Why these lenders?

Only about 1 in 5 businesses that apply for a loan from a big bank are approved. To solve that problem, we work with online lenders that specialize in making the loan application process simple. Plus, they’re faster and offer more competitive rates than many banks.

*Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information. All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers’ credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.

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Frequently Ask Questions

Helping you understand our business and commercial loan programs.

Loans may be used to fund working capital, equipment purchases, owner occupied real estate, purchase of an existing business or to start up a business.

Yes, LoanOnDemand funds businesses with as few as 2 employees.

Yes, LoanOnDemand funds startup businesses with strong potential for sustainability and a significant commitment from the entrepreneur.

The loan terms range from 7 to 25 years with varying interest rates, depending on the use of funds and the amount of risk.

Get a Quote

Apply now for a Business Loan online.

All you need to do is provide your details below to start the process.

Please provide only your individual gross annual income (not household or spousal income). You do not need to include alimony, child support or separate maintenance income unless you want it considered as a basis for repaying the loan.

 
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