SMALL BUSINESS LOANS REVIEWS
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SmallBusinessLoans.com: 2024 Review

Written by
Emily Maracle
Edited by
Rhys Subitch
Updated on Jun 28, 2024
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At a glance

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3.5
Bankrate Score
Caret Down
Accessibility
Affordability
Customer experience
Transparency
Flexibility

Overview

SmallBusinessLoans.com is a small business loan marketplace that connects business owners in various industries with funding partners. Its lending partners specialize in short-term and SBA loans for borrowers with fair to excellent personal credit, with funding up to $500,000.

Lender Details

  • Moneybag

    Loan amount

    $5,000-$500,000

  • Rates

    Interest rate

    Not stated

  • Clock Wait

    Term lengths

    Not stated

  • Dollar

    Min. annual revenue

    Not stated

  • Business

    Min. time in business

    Not stated

Who SmallBusinessLoans.com is best for

SmallBusinessLoans.com is best for business owners with fair to excellent personal credit scores who are still determining what financing they need or qualify for. SmallBusinessLoans.com is a broker, so you’ll fill out an application to match with lending partners. This process allows business owners to potentially compare multiple offers with one application, avoiding the tedious process of researching loans and lenders. 

Business owners looking for fast funding could also benefit from SmallBusinessLoans.com's services, as you could receive funds in as little as 24 hours. Speed of funding will vary based on the lender you are matched with, among other factors.

Who SmallBusinessLoans.com may not be best for

SmallBusinessLoans.com may not be the best option for businesses that know the type of loan they want or have a specific lender in mind. Since SmallBusinessLoans.com isn’t a direct lender, a business owner has to fill out an application to determine what loan types they might qualify for. 

Apart from this, SmallBusinessLoans’ website states that its lending partners offer loans to borrowers with fair to excellent personal credit. While no minimum personal credit score is listed, bad credit borrowers likely won’t be eligible for funding. 

Additionally, businesses in Nevada, Oregon, Rhode Island, South Dakota and Vermont are only eligible for sales-based financing products, which may not be ideal for some business owners. 

SmallBusinessLoans.com: in the details

Loan amount
$5,000-$500,000
Interest rate
Not stated
Term lengths
Not stated
Fastest funding
24 hours
Min. annual revenue
Not stated
Min. time in business
Not stated

SmallBusinessLoans.com pros and cons

Pros

  • Checkmark

    Potential for fast funding

  • Checkmark

    Quick application

  • Checkmark

    Personalized funding options

  • Checkmark

    Partners with multiple lenders

Cons

  • Limited information online

  • Must fill out an application to know what you qualify for

  • Availability depends on location

  • Only offers short-term financing

Business loan types offered

SmallBusinessLoans.com is a broker, so the requirements to qualify with its partner lenders aren’t disclosed. You'll need to fill out an application to learn what financing options are available. 

Loan quick facts

  • Amounts: $5,000 to $500,000
  • Terms: Not disclosed
  • APR/interest/factor rate: Not disclosed

Short-term loan overview

Short-term loans are business loans typically offered by online and alternative lenders. As the name implies, they have shorter repayment periods, often six to 24 months. Repayments could be monthly, weekly or daily, depending on the loan and lender. Short-term loans usually have a faster funding timeline, with some short-term loan lenders offering same-day funding. 

While the eligibility requirements for SmallBusinessLoans’ partners aren’t disclosed — apart from stating they lend to borrowers with fair to excellent personal credit — short-term loans often have lower eligibility requirements than longer term loans or those offered by traditional lenders.

Loan quick facts

  • Amounts: $5,000 to $500,000
  • Terms: Not disclosed
  • APR/interest/factor rate: Not disclosed

Business line of credit overview

With a business line of credit, you’ll receive a set credit limit that you can borrow up to. As you repay what you borrow, your credit line replenishes. With short-term business lines of credit, most lenders offer repayment terms of up to 18 months, and you’ll have a set period of when you can draw from it. You’ll typically only pay interest on what you borrow. 

Loan quick facts

  • Amounts: $5,000 to $500,000
  • Terms: Not disclosed
  • APR/interest/factor rate: Not disclosed

SBA loan overview

SBA loans are small business loans backed by the U.S. Small Business Administration, making them less risky for lenders who offer them. They have set maximum interest rates and often come with high loan amounts. That said, they aren’t a good option for businesses looking for fast funding, as approval and funding can take 30 to 90 days. 

While SBA lenders have some control over eligibility requirements, the SBA typically requires that small businesses exhaust other financing options, have a fair to excellent credit personal score and meet the SBA’s definition of a small business.

Loan quick facts

  • Amounts: $5,000 to $500,000
  • Terms: Not disclosed
  • APR/interest/factor rate: Not disclosed

Working capital loan overview

Working capital loans are a good option for businesses that temporarily need capital. Like short-term loans, working capital loans often have shorter repayment terms. Most businesses use working capital loans to help with cash flow issues, such as seasonal dips, covering unexpected operational costs, purchasing additional inventory or taking advantage of a time-sensitive business opportunity. 

Do you qualify? 

There isn’t much information available on the qualification requirements, as each partner lender sets their own eligibility standards. Typically, lenders offering short-term loans have more flexible requirements compared to more traditional lenders. However, to determine whether you qualify for funding, you’ll need to fill out an application on SmallBusinessLoans’ website. 

  • Applicants in Nevada, Oregon, Rhode Island, South Dakota and Vermont are only matched with sales-based financing options.
  • Applicants in New Mexico are eligible for loans of $10,000 and up.

While there are no restricted industries listed, if you are hoping to be matched with a lender offering SBA loans, there are ineligible industries, including:

  • Nonprofits.
  • Financial businesses, like banks or finance companies.
  • Businesses engaged in illegal activities.
  • Speculative or unstable businesses.
  • Businesses that earn more than a third of profits from legal gambling.

What we like and what we don’t like

SmallBusinessLoans.com matches you with potential lenders, giving you the best offers that meet your funding needs. That said, there isn’t much information on its lending partners, eligibility requirements or customer service. 

What we like

  • Potential for fast funding: SmallBusinessLoans.com states funding could happen in as little as 24 hours.
  • Quick application: The application is fully online and only takes a few minutes to complete. 
  • Personalized funding options: After filling out an application, you’ll only be matched with lenders who meet your funding needs. 
  • Partners with multiple lenders: Instead of applying with multiple lenders, SmallBusinessLoans.com makes it easy to see multiple offers. 

What we don’t like

  • Limited information on its site: SmallBusinessLoans.com doesn’t list much information about what its partner lenders offer. Contacting someone may also be difficult as it doesn’t have a dedicated customer service phone number.
  • Must fill out an application to know what you qualify for: Since minimum requirements for its partner lenders aren’t listed, you’ll have to apply to know what type of loan you may be able to get.
  • Availability of products depends on location: Not all products from its lending partners are available in every state. 
  • Only offers short-term loans: SmallBusinessLoans.com’s partner lenders specialize in short-term funding, so if you need longer term financing options, you may need to look elsewhere.

How SmallBusinessLoans.com compares to other lenders

3.5

Bankrate Score

  • Loan amount

    $5,000-$500,000

  • Interest rate

    Not stated

  • Term lengths

    Not stated

  • Min. time in business

    Not stated

  • Min. business annual revenue

    Not stated

4.6

Bankrate Score

  • Loan amount

    $1,000-$10 million

  • Interest rate

    4.63%-60.00%

  • Term lengths

    3 months-25 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $50,000

Read our review

on Bankrate

4.7

Bankrate Score

  • Loan amount

    $5,000-$10 million

  • Interest rate

    0.75% Monthly rate | 5.00% to 18% Simple interest

  • Term lengths

    1-10 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $100,000

Read our review

on Bankrate

SmallBusinessLoans.com vs. Lendio

Like SmallBusinessLoans.com, Lendio doesn’t directly lend to businesses but matches them with partner lenders. Both offer fast funding, potentially receiving funds within 24 hours. 

That said, Lendio is far more transparent with the application process, requirements and the number of lenders it works with. Lendio currently has more than 75 partner lenders and a robust FAQ section detailing much of the information you need as a prospective applicant. 

Businesses with fair to excellent personal credit needing short-term financing may benefit from applying with SmallBusinessLoans.com, whereas business owners looking for higher loan amounts or longer terms should consider applying with Lendio.

SmallBusinessLoans.com vs. Fundible

Fundible is another lender with a partner network, like SmallBusinessLoans.com, but they also offer in-house financing. Both lenders offer various financing options, but Fundible and its partners have higher lending amounts and terms, with funding up to $6 million and terms up to 10 years. SmallBusinesLoans.com’s lending partners offer funding up to $500,000 and short-term financing, typically maxing out at 24 months. 

Businesses with bad credit will likely have better luck applying with Fundible, as it states a FICO score of at least 500 is needed. While SmallBusinessLoans.com doesn’t disclose much information about its lending partner’s requirements, it does state that its partners accept borrowers with fair to excellent personal credit. 

If you’re looking for fast funding, either lender will meet your needs as they have fast application processes, and state funding could occur in as little as 24 hours.

How to apply for a loan with SmallBusinessLoans.com

You can easily apply for funding through SmallBusinessLoans.com. To begin, you’ll need to provide the amount of funding you need, what the funding is for and your name and email. You’ll answer a few more questions about your business and financials, which will likely include its annual revenue, time in business and your personal credit score. Once you match with lenders, more documentation and information may be required. 

If you have any questions, you can fill out an online form through their website or contact them at info@smallbusinessloans.com. 

SmallBusinessLoans.com frequently asked questions

How Bankrate rates SmallBusinessLoans.com

Overall Score 3.5
Accessibility 4.3 SmallBusinessLoans.com works with lending partners to match business owners with funding that meets their needs.
Affordability 3.8 While rates aren’t disclosed, some partners offer SBA loans, which cap interest rates that lenders can charge.
Transparency 1.7 Very little information about lending partners is disclosed on its site.
Customer experience 3.6 This lender gets points for its highly rated app and its online application.
Flexibility 4.2 The only way to contact customer service is through an online contact form or email.

Methodology

Clock Wait
47
years in business
Credit Card Search
30+
lenders reviewed
Loan
22
loan features weighed
Rates
770+
data points collected

To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

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