Best Small Business Loans Of October 2024

We originate all kinds of business and commercial loans.

Here are some of the best small business loans available in October 2024, tailored to different business needs:

1. Funding Circle: Ideal for businesses seeking low interest rates. It offers loans up to $500,000 with rates starting at 4.3%. However, you must have been in business for at least two years and have a credit score of 620 or higher. Funding can take up to 10 business days, making it suitable for planned expenses rather than urgent needs​(

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2. BlueVine: Best for lines of credit and flexible funding. BlueVine offers up to $250,000 for businesses operating for at least six months, with a credit score requirement of 600. The interest rates start at around 6%, making it an affordable option for short-term working capital​(

   ZenBusiness

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3. OnDeck: Known for same-day funding, OnDeck is perfect for businesses needing fast access to capital. They provide term loans up to $250,000 and lines of credit up to $100,000. However, the speed comes with high interest rates, starting at 35%, making it more suited for those needing urgent cash despite higher costs​(

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4. SBA Loans: For businesses looking for longer repayment terms and lower interest rates, SBA loans are a great choice. They offer loans up to $5 million with rates typically between 5.5% and 8%. However, the approval process can take several weeks, so these are best for businesses with time to plan​(

   finder.com

   LendingTree

   
   
   
   

5. Fundbox: A great option for startups and small businesses, Fundbox provides flexible credit lines and has lower eligibility requirements compared to others. Interest rates are moderate, and they are more lenient with newer businesses, though the repayment terms are shorter​(

   ZenBusiness

   LendingTree

   
   
   
   

These lenders provide a range of options based on your business’s needs, whether you require fast funding, long-term loans, or low interest rates.