Skip to Main Content

Best LLC loans in March 2025

 
Written by
Marlese Lessing
Edited by
Rob Watts
Reviewed by
Emmanuel Nyame
Updated: Mar 21, 2025

What to know first: While LLC loans are available only to limited liability companies, there are still a wide variety to choose from. Whether you need a fast LLC loan, flexible repayment terms, an LLC loan for bad credit or otherwise, Bankrate can help you find the right lender for you.

Find my rate

Get started on funding your business today

SMB Logo

Answer a few questions and get matched with trusted financing solutions from our sponsored partner.

|

National Funding: Best for early payoff

4.4
Bankrate Review
Loan amount
$5k-$500K
Term: 4 - 24 months
Interest rate
Factor Rates Starting at 1.10
Fastest funding
1 business day
Apply nowArrow Right

on partner site

iBusiness Funding: Best for building business credit

4.6
Bankrate Review
Loan amount
$25k-$500K
Term: 6 - 84 months
Interest rate
Starting at 7.49% simple interest
Fastest funding
2 business days
Apply nowArrow Right

on BusinessLoans.com

QuickBridge: BEST FOR LOAN VARIETY

4.2
Bankrate Review
Loan amount
$10k-$500K
Term: 4 - 24 months
Interest rate
Varies
Fastest funding
1 business day
Apply nowArrow Right

on partner site

Bluevine: Best for LLC line of credit

4.4
Bankrate Review
Loan amount
$5k-$250K
Term: 6 - 12 months
Interest rate
Starting at 7.80%
Fastest funding
1 business day
Apply nowArrow Right

on BusinessLoans.com

OnDeck: Bankrate 2025 Award Winner Best lender for startups

4.5
Bankrate Review
Loan amount
$5k-$250K
Term: 3 - 24 months
Interest rate
Starting at 27.30% APR
Fastest funding
1 business day
Apply nowArrow Right

on BusinessLoans.com

SMB Compass: Best for term loans

4.4
Bankrate Review
Loan amount
$25k-$5M
Term: 6 - 300 months
Interest rate
Starting at 6.99%
Fastest funding
1 business day
Read our reviewArrow Right

on Bankrate

Triton Capital: Best for equipment loans

4.4
Bankrate Review
Loan amount
$10k-$500K
Term: 12 - 60 months
Interest rate
Starting at 5.99% APR
Fastest funding
1 business day
Read our reviewArrow Right

on Bankrate

Taycor Financial: Bankrate 2025 Award Winner Best Lender for newer businesses

4.2
Bankrate Review
Loan amount
$10k-$1M
Term: 4 - 60 months
Interest rate
Factor rate from 1.10 - 1.36
Fastest funding
1 business day
Apply nowArrow Right

on BusinessLoans.com

Bank of America: Best for LLC bank loans

4.3
Bankrate Review
Loan amount
Starting at $10k
Term: 6 - 24 months
Interest rate
Starting at 9.50%
Fastest funding
1 business day

Live Oak: Best for SBA loans

3.0
Bankrate Review
Loan amount
$115k-$15M
Interest rate
Not disclosed
Fastest funding
Not disclosed
Read our reviewArrow Right

on Bankrate

SmallBusinessLoans.com: Best for personalized funding

4.4
Bankrate Review
Loan amount
$5k-$500K
Interest rate
8.49%+
Fastest funding
1 business day
Apply nowArrow Right

on partner site

On This Page

A closer look at Bankrate's top LLC business loans

After reviewing the table above, take a closer look at our top lenders. Here you can learn more about each lender, who their products are best for and any standout features that can help you find the right lender for your LLC. 

National Funding: Best for early payoff discount

Overview: National Funding offers short-term loans as well as long-term equipment loans or leases. Its shortest repayment term is four months, allowing you to get a loan for a quick injection of capital that you can pay off quickly. Most loans offer terms starting at six months to a year. Since it accepts fair personal credit of 660 or higher, you can get approved for a loan that you may not be able to receive from a traditional bank.

QuickBridge: Best for loan variety

Overview: QuickBridge offers a variety of short-term LLC loans for businesses with at least $250,000 in annual revenue, a 660 personal credit score and at least six months in business. While the requirements are on the higher side, QuickBridge offers matching with a dedicated funding advisor who can help you fund the best LLC loan for your needs. Terms tend to be on the lower side, with the maximum being 18 months. QuickBridge also offers early repayment discounts if you pay off your loan ahead of the term.

Bluevine: Best for LLC line of credit

Overview: Bluevine specializes in offering business lines of credit up to $250,000 and a business checking account. They also offer term loans through a lending partner. Bluevine starts its line of credit interest rates at 7.80 percent simple interest. While this is a competitive rate, it doesn’t factor in fees, which can increase the cost of the loan. You can choose between a six- or 12-month repayment term, standard for a business line of credit.

Taycor Financial: Best for newer businesses

Overview: Taycor Financial offers a variety of unsecured loan products for LLCs, including business lines of credit, term loans and merchant cash advances. It’s one of the more experienced fintech lenders out there, helping small businesses for nearly 30 years. It also sets some of the most lenient credit and business requirements, accepting just three months in business and personal credit scores as low as 550. 

iBusiness Funding: Best for building business credit

Overview: iBusiness Funding offers business term loans and business lines of credit, and it’s one of the few online lenders to offer SBA 7(a) loans. Its repayment terms are long — offering terms of up to 10 years — compared to many online lenders that offer short terms of 24 months or less. Plus, to qualify for a loan, you only need $50,000 in annual revenue, a much lower standard than most lenders’ requirement of $100,000 or more.

Smallbusinessloans.com: Best for personalized funding

Overview: While SmallBusinessLoans.com doesn’t offer loans directly, it acts as a marketplace that helps business owners connect with funding partners. Business owners can access over $500,000 in loans with a maximum of $5.5 million, with interest rates starting at 10 percent. The online application can match you instantly with lenders, and you can receive funds in less than 24 hours.

Triton Capital: Best for equipment loans

Overview: Triton Capital offers a fast funding solution if you’re in the market for equipment financing or a working capital loan. You can also apply for an SBA loan, a rare find among online lenders. All its loans keep low interest rates on par with what you’d find at your local bank, starting at 5.99 percent for equipment financing. Its loan amounts are also accessible, starting at $10,000 to help businesses making small purchases.

OnDeck: Best for startups

Overview: OnDeck is known for its short-term loans and business lines of credit, offered online with relaxed requirements compared to traditional banks. To get approved, you need a FICO score of just 625, $100,000 in annual business revenue and one year in business. OnDeck also boasts same-day funding if you get your application in early during weekdays.

SMB Compass: Best for term loans

Overview: SMB Compass’s loan choices include term loans, lines of credit, asset-based loans and inventory and invoice financing. These offerings include both conventional and alternative business loans, more options than most lenders provide. It also offers low interest rates, starting at 6.99 percent APR for term loans. Many online lenders offer starting interest rates in the double digits or higher, making SMB Compass competitive.

Bank of America: Best for LLC bank loans

Overview: Bank of America is one of the largest banks in the United States, offering almost every financial service imaginable, from banking to investing. Homing in on business loans, this household name provides lines of credit, term loans, SBA loans, equipment loans and commercial real estate loans. While many lenders narrow down to a few choices, Bank of America opens up the possibilities on the types of business loans you can get. Plus, you get the added benefit of in-person bank support through branches all across the country.

Live Oak: Best for SBA loans

Overview: Live Oak’s specialty is in serving the industry with SBA 7(a) and 504 loans, unusual since most fintech lenders don’t offer SBA loans at all. It also offers SBA Express loans with a streamlined application process and no prepayment penalties. These options help you get accessible funding at an affordable cost.

What is an LLC loan?

An LLC loan is a business loan made to an LLC in exchange for repayment plus interest. 

A limited liability company (LLC) is a common type of business entity in the United States. LLCs may be organized in several ways, such as with single-member ownership, multi-membership or member-managed companies. Members can be individuals, other LLCs or corporations. Most business loans provided by both nontraditional and traditional lenders are available to LLCs.

Like other business loans, you can use LLC loans to cover business-related expenses. This includes:

  • Inventory purchases
  • Equipment purchases
  • Real estate 
  • Marketing 
  • Startup costs
  • Working capital expenses  
The main difference between an LLC loan and a regular business loan is that LLC loans provide added liability protection, which helps keep your personal assets separate from business debt.
Bankrate logo Emmanuel Nyame, CEO of Twelvenets

How does an LLC business loan work?

An LLC business loan works much like any personal or business loan.

You can apply for the loan by visiting the lender’s website or in person and filling out an application. Typically, you’ll need to provide some details, such as how much you want to borrow, why you’re applying for a loan and your business’s financial situation. 

If you’re approved, the lender will give you its loan offer, including the amount, rates, fees and repayment term. If you accept, the lender will disburse the funds to your LLC’s bank account. You’ll then have to pay the loan according to the terms laid out in the loan agreement.

Secured vs. unsecured LLC business loans

When you’re getting a loan for your LLC, you can choose between a secured or unsecured business loan. A secured loan backs the loan with business assets, which helps reassure the lender that you can repay the loan. Since securing the loan is less risky to the lender, you could be granted lower interest rates or more favorable repayment terms. 

An unsecured LLC loan is a business loan that doesn’t back the loan with business assets. If you couldn’t make the payments, the lender would have to take legal action to get repaid from business assets if you default. But to get an unsecured business loan, you may need a stellar financial picture, such as a high credit score, ample time in business and steady income.

Requirements for an LLC loan

Every lender will set its own requirements for an LLC loan. In general, lenders mostly care about whether you’ll pay the money back and use their requirements to reduce the odds of lending to someone who defaults on the loan.

Some common criteria lenders use include:

  • Time in business. The newer your LLC, the riskier it looks as a borrower. Some lenders will want your LLC to be anywhere from six to 24 months old before applying for a loan.
  • Revenue. Your LLC must have sufficient income to cover the monthly cost of the loan. The more money your company brings in each month, the easier it will be to qualify for a loan and the more you’ll be able to borrow.
  • Expenses. Along with revenue, the lender will look at your company’s current debts and expenses. The less your LLC spends in comparison to its revenue, the better your chances.
  • Credit history. Your LLC has its own credit score, and your lender will want to examine your company’s credit to make sure it isn’t a risky borrower. Some lenders may also ask for a personal guarantee if your LLC has limited credit or is too new.

You’ll also need some documents to provide to the lender, including:

  • Personal information and bank statements
  • Personal tax returns
  • LLC tax returns, possibly for the last three years
  • Quarterly tax receipts
  • Recent LLC bank and financial statements
  • Business tax ID or Employer Identification Number
  • Licenses or permits 
  • Business formation documents
  • Unpaid invoices
  • Business plan or funding request
  • Commercial lease
  • SBA forms
  • Collateral appraisals and proof of ownership
  • A cash flow statement
Lightbulb Icon

Bankrate Insight

Even though an LLC business structure offers certain protections from personal liability, most lenders may require you to sign a personal guarantee. This essentially waives your protections and makes you personally responsible for paying off your business debt.

Types of LLC business loans

There are many types of LLC business loans. Some have strict eligibility requirements and are usually only available to business owners with great credit and strong business credentials. 

If your credit score isn’t stellar, you may want to consider bad credit business loans. These types of loans are good options for any LLC that would struggle to qualify for traditional financing, including newer LLCs and business owners with low credit scores. Depending on your credit score, revenue and time in business, business loans for bad credit may have loan amounts of $100,000 or less. Here’s a look at some of the most popular options:

Pros and cons of LLC loans

Before you apply for an LLC business loan, you need to consider the pros and cons to determine if it will truly help your business.
 

Pros:

  • Access to cash. If your LLC needs money to cover a bill or expand, loans will help you get that money quickly.
  • Flexible loan choices. LLCs can usually get any type of business loan as long as they meet the minimum requirements. 
  • Build credit. Getting a loan for your LLC will help you start building credit for your business.

Cons:

  • Personal guarantees. Many lenders will require that you sign a personal guarantee stating that you’ll pay the loan back using your own money if the LLC defaults. That eliminates the protection the LLC provides.
  • Potentially high borrowing costs. If you haven’t had time to build your business credit, you may not qualify for the lowest interest rates available. 
  • Some lenders lack transparency. Unlike with consumer loans, business lenders aren’t legally required to disclose their interest rates and fees. You may have to go through the application process with several lenders to compare.
  • Limited to LLCs. Sole proprietorships, partnerships and corporations may not have access to LLC loans.

Alternatives to LLC business loans

Small business loans for LLCs are just one way that you can get funding for your company. If you’re not sure a loan is right for you, consider these alternatives to LLC business loans.
 
Lightbulb Icon

Bankrate Insight

Where to get an LLC business loan

There are many different places to get an LLC business loan. Most large national banks have business loans, and there are also specialized online lenders.

Online lenders often offer faster approval or more flexible requirements but may charge higher rates if you don’t have good credit.

Another place to look is your local credit union or regional bank. These lenders are often better able to work with you to help you achieve your goals. Because they’re focused on a smaller region and group of customers, they offer a more personalized experience. Bankrate can help you narrow down which loans are best for your LLC.

Frequently asked questions about LLC business loans

How we choose the best LLC loan lenders

Bankrate's trusted small business loan industry expertise

Read our full methodology

57

years in business

30

lenders reviewed

22

loan features weighed

770

data points collected

To choose the best business LLC loans, we ensured loans are broadly available across the United States. We then considered features that make loans affordable and accessible to businesses with different characteristics and needs, including interest rates, required time in business, minimum annual revenue and fees.
 
When evaluating lenders, we use a 22-point scale to measure quality in five key areas: