An unsecured business loan allows you to access financing for your business without providing collateral, like business equipment, real estate or cash.
Generally, lenders offer this type of loan based on credit health and business history. You can use an unsecured loan to support your small business in many ways, from getting cash for inventory purchases to covering payroll.
CNBC Select analyzed small business loan lenders to determine which unsecured business loans are best for different needs. (See our methodology for more information on how we made this list.)
- Fast Funding: Get a decision as fast as 24 hours.
- Flexible Loans: Term, working capital, or real estate.
- Easy Apply: A simple, secure online application.
- 12 months in business
- $100,000 in Annual Revenue
- FICO 575
Terms apply.
Best unsecured business loans of June 2026
Best for variety of financing options
Who's this for? Credibly offers multiple business loan options to suit a multitude of needs. You can potentially choose from a merchant cash advance, a term loan and a business line of credit. With a credit score requirement of just 500, it's also a great pick for those with lower credit scores.
Standout benefits: Same-day funding is available for certain types of financing. Plus, you can pre-qualify without a hard credit pull and see if you're approved in less than four hours.
Offers many types of loans including long-term loans, working capital loans, business line of credit and merchant cash advance
- Approval within four hours
- Low minimum credit score
- Loan amounts of up to $600,000
- Funds deposited as soon as the same business day
- Considers overall business health for approval
- Requires average monthly revenue of at least $15,000
Best for lines of credit
Who's this for? A business line of credit might be a better choice if you prefer a credit line you can borrow against when you need it. Bluevine provides business credit lines of up to $250,000 — and you may qualify for a credit limit increase as your business grows. It considers applicants with credit scores as low as 625.
Standout benefits: Bluevine doesn't charge any fees for opening, maintaining or closing a business line of credit. There are also no penalties for prepayment. The application process is quick, and you can receive the funds within hours if you opt for the bank wire option.
Bluevine Business Line of Credit
Annual Percentage Rate (APR)
Starting at 14%
Loan amounts
Up to $250,000
Terms
6 or 12 months
Minimum credit score needed
625
Early payoff penalty
None
Maintenance fees
$0
Failed payment fee
5% of the missed repayment (minimum of $35)
Terms apply.
Pros
- Open to borrowers with fair credit (minimum 625 score)
- High loan maximum
- Quick funding
- Few fees
- Option to pay monthly or weekly
Cons
- Requires at least 12 months in business which may not suit newer businesses
- Requires at least $10,000 in monthly revenue
- Not available for all industries or in all states
Best for short-term loans
Who's this for? With a term loan from Funding Circle, you can get funds for almost any business purpose and receive money within two business days. You may be able to borrow as much as $500,000. Plus, the lender doesn't have a minimum revenue requirement. Note, however, that Funding Circle also provides secured loans — and long-term loans (those longer than three years) may require collateral. For that reason, we recommend this lender for shorter term lengths.
Standout benefits: With Funding Circle, you can see if you qualify without a hard credit check. If you're approved, you can get the funds in two days. Additionally, the lender charges no prepayment penalties.
Funding Circle
Types of loans
Term loan
Better Business Bureau (BBB) rating
A+
Loan amounts
$25,000 to $500,000
Terms
3 months to 7 years
Minimum credit score needed
620
Minimum requirements
In business at least 2 years, no bankruptcies within the last 7 years
Terms apply.
Pros
- Top-tier A+ rating with the BBB
- No prepayment penalties
- Funding in as little as 48 hours
Cons
- You have to be in business at least 2 years to qualify
Best for microloans
Who's this for? Kiva can be an excellent option if you need to borrow less than $15,000. This crowdfunding platform is an especially good solution for a young business, since it offers a 0% interest rate and allows you to demonstrate your creditworthiness by inviting friends and family to lend to you.
Standout benefits: Kiva doesn't have traditional business and credit score requirements.
Loans are geared toward borrowers, especially business owners, who are unbanked and have trouble qualifying for financial products.
- 0% interest and no fees
- No minimum time in business or annual revenue required
- No credit score requirement
- Can reach community of 1.6 million Kiva lenders
- Low lending limit
- Personal guarantee required
- Borrowers need to crowdfund from their network
How do you get a business loan?
Applying for a business loan is a lot like applying for other forms of credit, like a personal loan or credit card. You'll need to fill out an application either online or in-person at your desired lender, and you'll have to provide information like:
- Your name and address
- Government-issued photo ID
- Your tax ID, typically either your employer identification number (EIN) or Social Security number
- The name of your business, its location and phone number
- The industry type
- Company structure (i.e., LLC, S-Corp, etc.)
- How many years you've been in business
- The number of employees
- The annual revenue
- Your monthly expenses
Providing incomplete or inaccurate information can delay your approval.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
A *$500 bonus by applying for a Bluevine Business Checking account using the referral code CNBC500 before 9/30/2026. Minimum qualifications must be fulfilled in order to be eligible for this bonus.
Standard $0; Bluevine Plus $30/month (with options to waive); Premier $95/month (with options to waive)
On Bluevine's site
Terms apply. Bluevine accounts are FDIC insured up to $3 million per depositor through Coastal Community Bank, Member FDIC
Up to $250,000
6 or 12 months
625
Starting at 7.80%
On Bluevine's site
How long do you have to be in business to get a business loan?
Many business loans aren't really meant for people who are just now starting a business since lenders often require your business to have been active for a certain amount of time in order to be eligible for a loan.
This requirement can vary depending on the lender but some are as low as a minimum of six months in business to as much as two years in business. In addition to length of time in business, you often must also satisfy a minimum revenue requirement. This also varies from lender to lender with some even requiring six-figure annual revenue for consideration.
Don't be discouraged if you haven't been in business long enough for a loan or if you aren't yet earning enough for your desired lender. Consider lenders that offer microloans or crowdfunding platforms that may be more likely to consider and approve younger businesses.
FAQs
How do you qualify for an unsecured business loan?
To qualify for an unsecured business loan, you'll typically need to meet revenue and credit requirements, which vary by lender and loan type.
Can a business borrow money without collateral?
It's possible to get a business loan without collateral, but unsecured loans often come with stricter approval requirements.
How hard is it to get an unsecured business loan?
You'll typically need to have an established business and solid credit to get an unsecured business loan — otherwise, it may be challenging to get approved.
Can I get a business loan with a 500 credit score?
It's possible to find a lender who works with borrowers with bad credit — however, you may find it easier to qualify for a secured business loan.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every business loan review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of business loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best unsecured business loans.
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Our methodology
To determine which unsecured small business loans offer the best financing terms, CNBC Select analyzed a dozen U.S. loans offered by both online and brick-and-mortar lenders.
We compared each small business loan on a range of features, including:
- Minimum and maximum loan amounts
- Length of term
- Credit score needed
- Application requirements
- Streamlined application process
- Fund disbursement
- Customer support
- Better Business Bureau rating
- Customer reviews, when available
The rates and fee structures for small business loans are subject to change without notice, and they often fluctuate in accordance with the prime rate. However, once you accept your loan agreement, a fixed-rate APR will guarantee that the interest rate and monthly payment will remain consistent throughout the entire term of the loan. Your APR, monthly payment and loan amount depend on your credit history and creditworthiness.
To take out a small business loan, lenders will most likely conduct a hard credit inquiry and request a full application, which could require both personal and business proof of income, identity verification, proof of address and more.
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