Small Business Lender Reviews
Compare rates, fees and products across 40 small business lenders reviewed by our experts.
Check out our in-depth lender reviews
How to compare small business loans
While the application process for a business loan is fairly easy — most lenders will walk you through the documentation — it’s important to compare your options and the terms of any agreements.
1. Get multiple quotes for the best deal
LendingTree’s network includes over 30 individual business lenders, which means you can fill out one form to identify lenders that might be a good fit for your business. You can fill out our quote box below to get started.
You can also reach out directly to lenders you already have a relationship with, like your bank. Some banks may offer better deals or easier prequalification to existing customers. You can compare these deals against other banks and online lenders to find the best rate.
2. Research your top lenders
Once you have quotes from several top contenders, read reviews to learn more about the pros and cons of each lender. You can read reviews written by our experts above or search for user reviews to read feedback from people who have worked with the company.
3. Read your loan agreement carefully
Before signing for any loan, read all of the paperwork and ask questions if you don’t understand anything.
If you’re working with LendingTree’s concierge service, you’ll have a single, dedicated point of contact throughout the entire process who can answer any questions you have about lender-specific policies in your loan documents. If you’re comparing lenders directly, you’ll typically be able to direct questions to a loan officer or customer service representative.
If a loan has fine print that makes it not work for your financial needs, you can go back a step and move forward with another lender on your list.
4. Submit paperwork and get funded
Your lender will typically walk you through any information or documents they need that weren’t included when getting quotes, like bank statements, tax returns and financial documents. You’ll typically receive funds via direct deposit, but some lenders may offer a wire transfer or debit card.
Types of small business loans
Small business lending options can be grouped into the following types:
Business term loan
A general small business loan can come from many different sources, such as a traditional brick-and-mortar bank or an online lender.
Business line of credit
A business line of credit is a revolving form of funding, typically used for short-term expenses.
Equipment loan
Equipment financing is a type of secured business loan that enables you to purchase heavy machinery, vehicles or other equipment needed to operate your business.
SBA loans
SBA loans are guaranteed by the U.S. Small Business Administration (SBA) and come with lower interest rates and long repayment terms.
Commercial real estate loans
Similar to a residential mortgage, commercial real estate loans allow businesses to buy real estate for business purposes.
Merchant cash advance (MCA)
Merchant cash advances typically come at a high cost, but it’s also the most accessible lending option available. With merchant cash advances and invoice factoring, businesses sell a portion of future sales or payments to a lender in exchange for a chunk of working capital.