Best Small Business Loans (2026)

Compare the best small business loan lenders of 2026 ranked by loan amounts, funding speed, rates, and minimum requirements.

Written by Harvey Brooks, Senior Financial Editor

TL;DR Quick summary

OnDeck and Mulligan offer same-day funding for established businesses. Fora Financial has the lowest credit requirement (570 FICO). SmartBiz has the cheapest rates via SBA. National Funding needs no collateral. Biz2Credit covers the widest range ($25K-$6M). Pick based on what matters most: speed, cost, or accessibility.

Key Takeaways

  • Same-day funding available from OnDeck and Mulligan Funding for qualified businesses
  • SBA loans through SmartBiz offer the lowest rates but require 3+ years in business and 650+ credit
  • Fora Financial accepts 570+ FICO — the lowest credit requirement among major lenders
  • National Funding requires no collateral and no prepayment penalty
  • Mulligan Funding offers up to $5M with human underwriters — highest ceiling for alternative lenders

Finding the right small business loan means balancing speed, cost, and qualification requirements. SBA loans offer the lowest rates but take weeks. Online lenders fund in 24 hours but charge more. We reviewed the top business lenders across all product types to help you find the best fit for your business. Here are our picks for 2026.

1
OnDeck logo

OnDeck

3.9/5
From Free/mo BBB: A+ Free Consultation

OnDeck is one of America's largest online small business lenders, a subsidiary of Enova International, offering term loans up to $400K and lines of credit up to $200K with same-day funding.

Same-day funding Monday through Friday for applications approved before 10:30 AM ET, with instant LOC draws available 24/7
$25 billion funded across 185,000+ businesses since 2006 — one of the largest track records in online business lending
No hard credit pull for initial eligibility check — soft pull only, no impact on personal credit score
Read Full Review Visit OnDeck
2
Biz2Credit logo

Biz2Credit

3.7/5
From Free/mo BBB: NR Free Consultation

Biz2Credit is a New York-based fintech platform that has facilitated over $8 billion in funding to 200,000+ businesses, offering term loans, revenue-based financing, business lines of credit, and commercial real estate loans with 60-second prequalification.

$8 billion funded across 200,000+ businesses since 2007 — one of the largest online business lending track records
Four products covering $25K to $6M: term loans, revenue-based financing, LOC, and commercial real estate
60-second prequalification with soft credit pull — no impact on personal credit score
Read Full Review Visit Biz2Credit
3
National Funding logo

National Funding

3.8/5
From Free/mo BBB: NR Free Consultation

National Funding is a San Diego-based direct lender founded in 1999 that has provided over $4.5 billion to 75,000+ businesses, offering small business loans up to $500K and equipment financing up to $150K with 24-hour funding and no collateral required.

No collateral required on small business loans and no prepayment penalty — pay off early without extra cost
24-hour funding on small business loans for fast access to working capital
Equipment financing with 100% financing, no down payment, and Section 179 tax deduction eligibility
Read Full Review Visit National Funding
4
F

Fora Financial

NaN/5
From Free/mo BBB: A+ Free Consultation

Fora Financial provides small business term loans up to $1.5M, revenue advances, lines of credit, SBA loans, and equipment financing with published factor rates, 4-hour approvals, and 24-hour funding for businesses with 570+ FICO scores.

Publishes factor rates (1.13-1.50) unlike most competitors who hide pricing
Early repayment discounts reduce effective cost to as low as 1.05 factor
570 minimum FICO — one of the lowest thresholds in business lending
Read Full Review Visit Fora Financial
5
Mulligan Funding, LLC logo

Mulligan Funding, LLC

4.4/5
From Free/mo BBB: A+ Free Consultation

Mulligan Funding offers working capital and term loans up to $5M for established businesses with $750K+ annual revenue, same-day funding, human underwriters, A+ BBB rating, and 4.9/5 Trustpilot score.

Loan amounts up to $5M — among the highest ceilings in alternative lending
Same-day funding available for approved applications
Human underwriters review every application instead of automated algorithms
Read Full Review Visit Mulligan Funding, LLC
6
SmartBiz Bank, N.A. logo

SmartBiz Bank, N.A.

4.0/5
From Free/mo BBB: Free Consultation

SmartBiz Bank, N.A. is a national bank and SBA 7(a) lender specializing in small business financing, offering SBA loans ($50K-$350K), bank term loans, and business lines of credit with funding speeds as fast as 7 days.

SBA-approved lender with $9B+ funded — proven track record
Fast SBA funding (7 days for smaller loans)
Now a federally chartered national bank (FDIC insured, OCC regulated)
Read Full Review Visit SmartBiz Bank, N.A.

Frequently Asked Questions

How fast can I get a small business loan?

Same-day funding is available from OnDeck (before 10:30 AM ET) and Mulligan Funding. Fora Financial approves in 4 hours and funds in 24. Biz2Credit decisions come in 24 hours. SBA loans through SmartBiz take 7 days to 6 weeks.

What credit score do I need for a business loan?

Requirements vary widely. Fora Financial accepts 570+ FICO. OnDeck requires 625+. SmartBiz needs 650+ for SBA loans. Mulligan Funding uses 625 but focuses more on revenue ($750K+ annual).

How much can I borrow with a small business loan?

Loan amounts range from $5,000 (OnDeck, National Funding) up to $5M (Mulligan Funding). Biz2Credit offers up to $6M for commercial real estate. Most online lenders cap at $400K-$500K for term loans.

Do I need collateral for a business loan?

Not always. National Funding requires no collateral. OnDeck lines of credit are unsecured. However, most term loans over $100K require a general lien on the business, and SBA loans typically require collateral for larger amounts.

What is the average interest rate on a small business loan?

Rates vary dramatically by lender type. SBA loans: 9.5-12.5% (Prime + 2.75-5.75%). Online term loans: OnDeck averages 56.4% APR. Fora Financial uses factor rates of 1.13-1.50. Always compare the total cost of borrowing, not just the rate.

HB

Harvey Brooks

Senior Financial Editor

Harvey Brooks is a consumer finance writer specializing in credit repair, personal lending, and debt management. With over a decade covering the industry, he makes financial literacy accessible to everyday Americans. About our editorial team.

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