Best Large Business Loans
Large business loans help established companies finance major expenses like expansion, equipment purchases and acquisitions.
A large business loan provides substantial funding, typically $500,000 or more, to help established companies cover major expenses.
Large business loans:
- Are available from a variety of lenders, including government programs, banks and online lenders, with some offering financing up to $15 million or more.
- Are typically secured by business assets or collateral, though unsecured options may be available for highly qualified borrowers.
- Usually require at least six months to two years in operation, strong annual revenue and fair to good credit.
| Lender | Starting rate | Amount | Term | Time in business | |
|---|---|---|---|---|---|
|
9.75% |
$200k – $5M |
Up to 300 months | 24 months | |
|
Not specified |
$1M – $15M |
Up to 300 months | 36 months | |
|
13.00% |
$5k – $1.5M |
Up to 24 months | 6 months | |
|
1.11 |
$10k – $500k |
3 – 18 months | 6 months | |
|
10.49% |
$20k – $500k |
Up to 144 months | 24 months | |
|
22.45% (APR) |
$25k – $500k |
6 – 60 months | 24 months | |
|
Not specified |
$15M – $1B |
24 – 300 months | 24 months |
| Lender |
|
|
|
|
|
|
|
|---|---|---|---|---|---|---|---|
| Starting rate | 9.75% | Not specified | 13.00% | 1.11 | 10.49% | 22.45% (APR) | Not specified |
| Amount | $200k – $5M | $1M – $15M | $5k – $1.5M | $10k – $500k | $20k – $500k | $25k – $500k | $15M – $1B |
| Term | Up to 300 months | Up to 300 months | Up to 24 months | 3 – 18 months | Up to 144 months | 6 – 60 months | 24 – 300 months |
| Time in business | 24 months | 36 months | 6 months | 6 months | 24 months | 24 months | 24 months |
Best large business loans: Lender overviews
Best for: SBA (7a) loan – Bank of America
- Starting rate
- 9.75%
Some borrowers may qualify for lower rates. Based on the current prime rate of 6.75% + a rate maximum set by the SBA. Maximum rates for variable-rate SBA 7(a) loans are: 13.25% for loans $50,000 or less; 12.75% for loans $50,001 to $250,000; 11.25% for loans $250,001 to $350,000; 9.75% for loans above $350,000
- SBA Preferred Lender with faster loan processing
- Interest rates capped by SBA guidelines
- Rate discounts for veterans and Bank of America Preferred Rewards members
- No prepayment penalties (except for commercial real estate loans)
- May require applying in person or by phone
- SBA guaranty fee may apply
- Requires at least two years in business
Bank of America’s SBA 7(a) loan is a strong option for businesses seeking large loan amounts with competitive rates and long repayment terms. Backed by the Small Business Administration, these loans can fund major expenses like equipment purchases, expansion, operating costs and commercial real estate.
As an SBA Preferred Lender, Bank of America can often process SBA 7(a) loans in as little as two weeks, compared with the typical 30- to 90-day timeline.
In addition to SBA loans, Bank of America offers a full suite of business banking products, including lines of credit, term loans, credit cards and merchant services, making it a good fit for businesses looking to manage multiple financial accounts with one bank.
Check out LendingTree’s full review of Bank of America business loans.
In order to qualify for an SBA 7(a) loan, you’ll need to meet Bank of America’s criteria of:
- Minimum credit score: Not specified, but it’s recommended to have a score of 680 or higher
- Minimum time in business: 24 months
- Minimum annual revenue: $250,000
Best for: SBA 504 loan – Live Oak Bank
- Starting rate
- Not specified
- High SBA 504 loan amounts (up to $15,000,000)
- SBA Preferred Lender with faster processing
- Low down payment requirements (typically 10%)
- Long business history required
- No physical branch locations
- Most loans include an annual service fee
Live Oak Bank stands out for offering higher SBA 504 loan amounts than most lenders, with funding up to $15,000,000 to support commercial real estate purchases, renovations and large equipment investments.
As an SBA Preferred Lender, Live Oak Bank can typically process and fund SBA loans three to four weeks faster than standard SBA lenders. Businesses needing quicker funding may also consider the Live Oak Bank Express loan, which offers up to $350,000 with an expedited closing process.
While Live Oak Bank provides business checking and savings accounts, it lacks the full range of financial products and in-person branch support offered by traditional banks.
In order to qualify, you’ll need to meet Live Oak Bank’s criteria of:
- Minimum credit score: 680
- Minimum time in business: 36 months
- Minimum annual revenue: Not specified
Best for: Bad credit borrowers – Fora Financial
- Starting rate
- 13.00%
Fora Financial’s minimum rate is a 1.13 factor rate. This means you’d repay 13.00%, plus any additional fees, on top of the amount borrowed.
- Low minimum credit score requirement
- Short business history requirement
- Receive funding in as little as 24 hours
- Uses a factor rate instead of traditional APR
- Charges an origination fee
- Short repayment terms compared to other large business loans
Fora Financial is a strong option for borrowers with lower credit scores, accepting applicants with scores as low as 570. Businesses can also qualify after just 6 months in operation, making it accessible to newer companies that may struggle to qualify with traditional lenders.
However, Fora Financial uses a factor rate instead of a traditional APR, which can make it harder to estimate the total cost of borrowing. Repayment terms are also shorter than many large business loan options, which may lead to higher monthly payments.
Check out LendingTree’s full review of Fora Financial.
Check out all of LendingTree’s picks for business loans for bad credit.
In order to qualify, you’ll need to meet the Fora Financial’s criteria of:
- Minimum credit score: 570
- Minimum time in business: 6 months
- Minimum annual revenue: $240,000
Best for: Startups – QuickBridge
- Starting rate
- 1.11
- Short business history requirement
- Accepts fair credit scores
- Fast funding compared to traditional lenders
- Offers early payoff discounts
- Lack of information on rates and fees
- Low maximum loan amounts compared to other lenders
- High annual revenue requirement
QuickBridge is a solid option for startup businesses that need fast access to funding. Companies can qualify after just 6 months in operation, and the lender accepts borrowers with fair to excellent credit. Loan amounts go up to $500,000, which can help cover startup expenses such as hiring and training staff, marketing, equipment and supplies.
QuickBridge also supports diverse business owners, offering working capital loans and resources for women-owned businesses, minority entrepreneurs and veteran business owners. However, QuickBridge’s steep annual revenue requirement could be a dealbreaker for new or small-scale businesses.
Check out LendingTree’s full review of QuickBridge business loans.
In order to qualify, you’ll need to meet the QuickBridge’s criteria of:
- Minimum credit score: 580
- Minimum time in business: 6 months
- Minimum annual revenue: $250,000
Best for: Long-term business loans – BHG Financial
- Starting rate
- 10.49%
- Wide range of loan terms available
- Fast funding (as soon as 3 days)
- Requires a blanket lien/UCC filing
- Low maximum loan amounts compared to other lenders
- High minimum annual revenue requirement ($1,000,000)
BHG Financial offers business loans of up to $500,000 with repayment terms of up to 144 months, making it a strong option for borrowers looking for long-term business loans outside of SBA loans. Longer repayment terms can help lower monthly payments compared with shorter-term business loans.
However, BHG Financial requires a minimum annual revenue of $1,000,000 and at least 24 months in business, which may make it difficult for smaller or newer businesses to qualify. In addition, BHG places a blanket lien on business assets, which could make it harder to obtain additional financing while the loan is outstanding.
Check out LendingTree’s full review of BHG Financial business loans.
In order to qualify, you’ll need to meet the BHG Financial’s criteria of:
- Minimum credit score: 660
- Minimum time in business: 24 months
- Minimum annual revenue: $1,000,000
Best for: Debt consolidation loans – iBusiness Funding
- Starting rate
- 22.45%
iBusiness has a 7.49% interest rate, 22.45% APR
iBusiness Funding offers traditional term loans up to $500,000. SBA loans and USDA loans may offer higher amounts.
- One application for multiple financing options
- Repayment terms up to 60 months
- No upfront fees or prepayment penalties
- Collateral, personal guarantee or blanket lien may be required
- Not ideal for startups or low credit borrowers
If you’re exploring business debt consolidation options, iBusiness Funding provides up to $500,000 to help streamline your business finances. Every applicant is paired with a dedicated account manager to help guide you through the entire funding process. In addition, terms go up to 60 months, with no fees for repaying the debt early.
However, iBusiness Funding typically requires stronger credit and longer business history than many alternative lenders, which may make it less accessible for startups or borrowers with lower credit scores.
Check out LendingTree’s full review of iBusiness Funding business loans.
In order to qualify, you’ll need to meet the iBusiness Funding’s criteria of:
- Minimum credit score: 640
- Minimum time in business: 24 months
- Minimum annual revenue: $50,000
Best for: Traditional bank loans – PNC Bank
- Starting rate
- Not specified
2 years in most cases
Varies based on loan type
- About 2,200 branches nationwide
- Wide range of business banking products and services
- Higher loan amounts than many competitors
- Offers secured loans backed by business assets
- Eligibility requirements not publicly disclosed
- Not ideal for startups or newer businesses
- Interest rate ranges not publicly available
PNC Bank is a strong option for businesses seeking a traditional bank loan with large funding amounts and in-person support. The bank offers a wide range of small business and commercial banking products, along with approximately 2,200 branches nationwide.
Businesses generating over $5,000,000 in annual revenue may qualify for PNC’s commercial lending program, with funding reaching up to $1,000,000,000 for large-scale financing needs.
For lower-revenue companies, PNC’s secured business loans start at $100,001 with terms extending to 84 months. You can use business assets to secure your PNC business loan, meaning you won’t be personally responsible for payment if your business defaults.
In order to qualify, you’ll need to meet PNC Bank’s criteria of:
- Minimum credit score: Not specified
- Minimum time in business: 24 months in most cases
- Minimum annual revenue: Not disclosed for small business financing; $5,000,000 for commercial financing
Types of large business loans
Large business loans come in several forms, depending on how you plan to use the funds and the type of lender you work with. Some of the most common options include SBA loans and business term loans.
SBA loans
Since SBA loans come with a partial guarantee from the U.S. Small Business Administration (SBA), lenders are able to offer larger loan amounts, longer repayment terms and capped interest rates. This makes SBA loans one of the most affordable financing options for established businesses.
Common SBA loan programs include:
- SBA 504/CDC loans: Best for financing fixed assets like commercial real estate or large equipment.
- SBA 7(a) loans: Flexible financing that can be used for working capital, expansion or debt consolidation
- SBA Express loans: Smaller loan amounts with faster approval times (often within 36 hours)
Note that you’ll likely need to secure your SBA loan with collateral or a personal guarantee.
LendingTree insight: According to LendingTree’s analysis of SBA data, the average SBA 504 loan was about $1.1 million in fiscal year 2024, highlighting how these loans are commonly used for larger financing needs like real estate or equipment purchases.
Business term loans
Business term loans are installment loans, which means the principal and interest is repaid over a set period of time. Term loans are one of the most common types of small business loans available.
Some term loans are more likely to provide larger loan amounts than others, including:
These loans are secured by physical assets, which can be repossessed if you default on the loan. As a result, they’re often seen as less risky in the eyes of the lender.
How to get a large business loan
Before applying for a large business loan, it’s important to understand your funding needs, qualifications and lender options. The steps below can help you prepare and improve your chances of approval.
1. Determine how much funding you need. Start by identifying the business expenses you plan to cover with the loan. LendingTree’s business loan calculator can help estimate your monthly payments. You may also want to conduct a cash flow analysis to make sure your business can comfortably manage the new debt.
Tip: It’s often safer to borrow slightly less than the maximum amount you qualify for to keep your business credit profile in good standing.
2. Evaluate your qualifications. Large business loan requirements vary by lender, but most lenders evaluate the following factors:
-
Business history
Many lenders require at least six months to two years in business for larger loans. Newer businesses may need to explore alternatives like microloans or crowdfunding. -
Personal and business credit scores
While it’s possible to qualify with lower credit, stronger credit typically leads to lower interest rates and better loan terms. You can check and monitor your credit score for free with LendingTree Spring. -
Annual revenue
Many lenders expect annual revenue of at least $250,000 for large loans. -
Collateral
Many large business loans require collateral such as real estate or cash assets. If collateral isn’t available, you may need to explore an unsecured business loan instead.
3. Compare lenders and loan options. It’s always a good idea to compare lenders to find the best business loan for your needs. Start by reading LendingTree reviews or asking fellow business owners in your industry for suggestions. You typically have a 14- to 45-day rate shopping window in which credit pulls from multiple lenders will only appear as one pull on your credit report.
4. Submit your application. Once you’ve selected a lender, you can begin the loan application process. Many lenders allow you to apply online or over the phone, though some traditional banks may require an in-person appointment.
You’ll typically need to provide identifying information about you and your business, supplemental documentation like a business plan and business tax returns, as well as information about collateral.
Check out Lendingtree’s full guide on how to get a business loan.
How to compare large business loans
When evaluating large business loan options, it’s important to compare more than just the loan amount. The factors below can help you identify the best financing option for your business.
Interest rate
Business loan interest rates may be fixed, variable or based on a factor rate. To accurately compare loan offers, calculate the total cost of borrowing, including interest and fees.
Repayment term
Shorter loan terms often come with lower overall interest costs, but higher monthly payments. Longer repayment terms can reduce monthly payments but may increase the total interest paid over time.
Funding speed
Some alternative lenders have the capacity to offer same-day funding, while others may take a few days to process your request. With traditional bank and SBA loans, you can expect the funding timeline to take anywhere from two weeks to a few months.
Fees and additional costs
Watch out for additional fees, like origination fees or business loan prepayment penalties. These charges can add up so make sure to thoroughly review the business loan agreement before moving forward.
Lender perks
Occasionally, lenders may offer certain perks, like business coaching, member rewards or rate discounts. While these benefits may not make or break your loan decision, they can be an added bonus worth considering.
Pros and cons of large business loans
Pros
- Access large amounts of capital for major business expenses.
- Predictable monthly payments help with budgeting.
- On-time payments can help build business credit.
Cons
- Large monthly payments may strain cash flow.
- Collateral or a personal guarantee may be required.
- Eligibility requirements are typically stricter.
When a large business loan makes sense
Large business loans are typically used by established companies that need significant capital to support major investments or expansion.
Common uses for large business loans include:
- Expanding to new locations or opening additional offices
- Purchasing commercial real estate for business operations
- Acquiring another business or company assets
- Buying large equipment or machinery
- Scaling inventory to support growth
Our methodology: How we chose the best large business loans
We reviewed more than 20 lenders to determine the best seven large business loans. To make our list, lenders must meet the following criteria:
- Maximum loan amount: All of the lenders on our list offer at least up to $500,000 to help your business fund large expenses like commercial real estate, equipment, expansions and more.
- Rates and terms: We selected lenders with more competitive fixed rates and fewer fees, as well as more options for repayment terms, loan amounts and APR discounts.
- Repayment experience: When looking at repayment experience, we consider each lender’s reputation and business practices. We also prioritize lenders that report to all major credit bureaus, offer reliable customer service and provide any additional perks to borrowers, like business coaching or membership rewards.
Best large business loan summary
- Bank of America: Best for SBA 7(a) loan
- Live Oak Bank: Best for SBA 504/CDC loan
- Fora Financial: Best for bad credit borrowers
- QuickBridge: Best for startups
- BHG Financial: Best for long-term business loans
- iBusiness Funding: Best for debt consolidation loans
- PNC Bank: Best for traditional bank loans