hands offering the best small business loans
Camino Financial
By: camino-financial
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The Best Small Business Loans for Your Growth Needs

Are you looking for the best small business loans?

Applying for capital is a fundamental part of being a business owner and growing your company.

But the thought of expanding your business can give you many sleepless nights: being in debt can be very stressful. But the reality is that external financing is the key to success.

There are several lenders, and, as we want to make your work easier, here you can find the main options to finance your business.

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5 Top Small Business Lenders

Online lenders are positive funding alternatives because most applicants can meet their requirements, improve cash flow, and pay for unexpected expenses.

Camino Financial

Camino Financial is an excellent funding alternative for your small business. With a simple and easy application process, businesses that receive a denial, do get a loan with us.

We’re one of the top small business lenders.

If your business has been operating for 9 months and has sales of $30,000 annually, you can apply online and receive an immediate prequalification response. Plus, you can apply with either ITIN or SSN.

We also offer loans for startups.

The best thing about the application is that it doesn’t affect your credit score, like with other alternatives.

You can get a loan amount from $5,000 to $400,000 with fixed rates of 12% to 40%, and you can repay it in 24 to 60 months. You can even receive the capital in as little as 2 to 10 days after applying.

Furthermore, we offer 100% bilingual customer service.

Also, after 8 timely loan payments, you can access more, cheaper capital with more time to pay.

You will find the best small business loans with us.


  • Does not operate in New Jersey, Hawaii, and Puerto Rico.
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Loan amounts from $5,000 to $250, 000 at rates from 9% to 99%. They require applicants to have a credit score of 600, have been in business for a minimum of one year, have $100,000 in annual revenue, and have no bankruptcies in the past 2 years.

Same-day funding is available.


  • Personal guarantee required.
  • The loan must be repaid daily or weekly for 3 to 36-month terms.

Funding Circle

Loan amounts up to $500,000 with rates between 10.13% to 36%. The required credit score of 660, no minimum annual revenue requirement, and must have been in business for at least 2 years. The lender charges an origination fee between 3.49% and 6.99%.

They usually disperse funds within 3 days.


  • Funding Circle requires a business lien and personal guarantee.
  • No financing option for new businesses.


They offer loan amounts of $25,000 to $500,000 at rates beginning at 7.99%. Applicants must have been in business for 18 months, have annual revenue of $250,000, and have a credit score of 660 or higher.

Funding is as little as 72 hours.


  • Smaller businesses can’t meet annual revenue requirements, and those with a bad credit score won’t likely qualify.

National Funding

The lender offers loan amounts from $5,000 to $500,00 and accepts annual revenue from businesses with less than $250,000. They have a minimum credit score of 500, a minimum annual revenue of $100,000, and 1 year in business.

They don’t require collateral.


  • Charges a factor rate.
  • Interest rates tend to be high.
  • Personal guarantee required.
  • Startups can’t apply for their loans.

How To Choose A Small Business Loan

There’s homework to do on your part before applying for one of the best small business loans:

  • Choose a loan amount that you can comfortably repay and still pay your other bills on time. You can choose a longer term to reduce the payment amount and vice versa.
  • Decide the best way to use the loan proceeds to promote business growth. For example, do you need to renovate or enlarge your existing space, or does your business need newer equipment to stay competitive?
  • Lenders evaluate several factors before they approve loans. Lenders decide on the loan terms that represent the least risk to you and them.
  • Compare each lender’s minimum loan requirements to determine which one best fits your business. For example, there’s no point in applying with a lender that requires collateral if your business doesn’t have any to offer.

To determine your creditworthiness, lenders will look at your credit score, business annual revenue, number of years in business, cash flow, current short and long-term debts, and your credit history.

Tips For Comparing Small Business Loans

The best small business loan usually presents the least risk to your business and offers the most benefits.

Choose lenders with flexible terms, an excellent customer service department, and a BBB rating of “A+,” which means they’re a reputable company.

You should also make sure that you can safely transfer sensitive information to your chosen lender, such as copies of:

  • your tax returns
  • business financial statements
  • your EIN, SSN or ITIN
  • business licenses
  • business plan
  • list of accounts receivables and payables

Then, choose the type of lender you want to work with to include banks, credit unions, or online lenders.

Banks and credit unions usually have more stringent requirements, longer loan processing timelines, and lower interest rates.

Getting a loan from an online lender is significantly quicker and less complicated but they charge higher rates.

Even if a lender presents a loan agreement, you aren’t required to accept it. However, if you don’t think the lender is the best match, then don’t go through with the loan.

tons of 100 dollar bills

15 Types Of Business Financing Options

Finding the best small business loans can be a daunting and time-consuming job. There are so many options and requirements that it can be hard to know what to focus on.

We’re here to facilitate the process so you won’t have to spend hours in front of your computer researching. Find all the information you need about different types of business loans:

Long-Term Loans

With a repayment term longer than 5 years, a long-term loan reduces your monthly expense.

Payments are smaller because interests are usually lower than short-term loans and because you make payments over a more extended period.

Amounts can be up to $400,00 (or sometimes even more).


  • You pay more interest over time
  • Lengthier loan process compared to other loans
  • Normally a lender charges more fees
  • Most applicants need a strong financial portfolio to qualify
Apply For A Term Loan!

Bank Loan

Most of the time, when a business owner thinks of the best small business loans, the first thing that comes to mind is traditional bank loans.

With these loans, you receive a significant sum of money that you must pay in full (plus interests) in a certain period.

To get one, usually, you need to provide collateral, although there are banks that don’t ask you to risk your assets (especially if you have an excellent credit score).

To receive an approval, you might need to have a bank account with the institution.

Banks usually take from 48 hours to 15 days to approve loans. And receiving the capital can take a longer: from 1 to 3 months.

Of course, you can get a more significant loan amount (compared to other alternatives), between $100,000 to a million.


  • Big banks deal with numbers, not people and stories.
  • You won’t get a loan if your business doesn’t have top-notch finances or your numbers are not convincing, even if your story is.
  • Also, they don’t always offer personalized service.
  • Depending on the bank, they could have limited benefits, especially if you’re not a customer or don’t have a previous relationship with the bank.

Small Business Administration (SBA) Loans

Most entrepreneurs consider SBA loans one of the best small business loans because they usually have long repayment terms, some of the lowest interests in the market, and are pretty flexible.

SBA stands for Small Business Administration.

The best SBA loans for small businesses are probably the 7(a).

You can use the 7(a) loan can as working capital, to refinance debt, or to invest in business growth. The max. loan amount cap is $5 million.

One of the biggest downsides of SBA loans is that they can take a very long time to receive approval and funds. Most of the time, as many as 6 months can go by before you receive the loan.

SBA loans have very stringent requirements.

Disadvantages of SBA loans:

  • Very long approval process.
  • It’s very hard to receive approval.
  • To apply, you need an SSN.
  • In addition, you need a business plan to apply.

#What are the best small business loan rates?
Without a doubt, the SBA has some of the least expensive loan rates in the market.

Short-Term Loans

These offer less capital than a traditional business loan.

Applicants repay short-term loans in about a year, although you can find them for up to 18 months.

Because they are short-term, these loans are often used to finance more immediate needs, like cash flow needs, paying off debt, financing everyday expenses, or paying for one-time opportunities.

These loans generally range from $2,500 to $250,000, with an interest rate from 10% to 65%. It is common for lenders to approve the loan the same day; that’s why they’re some of the best small business loans.


  • The annual cost is higher than other business term loans.
  • Some lenders require weekly payments that can become difficult for businesses with sporadic income.
  • The amount they offer may not meet your business needs.

Invoice Financing

With this type of loan, you sell invoices to a lender.

The lender will lend you a percentage of the money you will receive from clients (as long as there is an unpaid invoice).

Why do they lend you money in exchange for unpaid invoices?

Because the lender is entirely sure that you can repay, the lender will receive his money as soon as the client pays the invoice (generally, the lender receives the money directly).

Generally, the loan will be up to 85% of the invoice. Then, when the client pays, you receive the remaining 15% minus all the lender’s fees.

Because they offer a large amount of money fast, many consider them one of the best small business loans.


  • The fees that lenders charge can be higher than other loans.
  • If your clients don’t pay on time, you’ll be the one in trouble.

Business Line Of Credit

Lines of credit are financial products that basically work like a credit card: the bank approves a credit limit, and you can spend whatever you need.

In the same way, you will only have to repay what you spent (and not the total amount, like with other loans). But, of course, you will also have to pay interest on the credit line.

You can use this type of loan in various ways: you can finance small projects or larger ones, depending on your needs. The best thing is that you don’t have to apply every time you need money: your business line of credit does not expire.

Unfortunately, interests are often variable. Also, some lenders might require collateral.

Unlike conventional business loans, they provide the flexibility to borrow a fixed credit limit between $10,000 and $500,000.

Still, if your company is large and has an excellent credit score, you can receive up to one million.


  • Interest rates are one of the highest, especially when you do not have collateral, when you have a bad score or when the amount is minimal.
  • It’s complicated to receive approval for a business line of credit.


Lenders provide microloans to businesses for small sums of money, hence their name.

Most traditional banks don’t offer them because they feel these products aren’t as profitable.

Microloan requirements aren’t as strict as other loan types, which reduces how long it takes to process a loan. This enables borrowers to obtain needed funds quicker.


  • Interest rates can be high, which increases the total amount a borrower repays.
  • Because microloans are for smaller amounts, a business owner may not obtain sufficient capital to grow and expand their business.
  • Lenders may restrict borrowers on how they can use the capital.
Get A Microl0an

Merchant Cash Advances

Merchant cash advances or MCAs are a quick and accessible option of financing.

It is very easy to get approved for one of these loans since the only requirement that lenders usually care about is how many credit card sales you typically make.

But MCA lenders can have average annual percentage rates as high as 400%.

Based on your past sales, the lender will give you a merchant cash advance: if your card sales are high, you will receive a lot; if they are low, you’ll get little.

You will pay the merchant cash advance with future card sales (the lender keeps a percentage of each sale); therefore, there is no set time to pay it.


  • Although many think they are one of the best small business loans, Merchant Cash Advances are often extremely expensive.
  • Unlike other loans, there are no advantages to early payments.
  • They might help you with your immediate cash needs, but they can affect your finances in the long run.
  • Their daily/weekly repayments can hurt your cash flow.

Equipment Financing Loans

Having the right equipment can speed up your operation and keep you competitive in your industry. Likewise, you can increase productivity and respond to customers quicker.

That’s where a business equipment loan comes in. It gives you the capital to finance the machinery you need.

You don’t need to provide collateral for this type of business financing because the equipment serves that purpose. There are tax breaks you can take advantage of.


  • Machinery depreciates quickly
  • The loan restricts you to use the proceeds solely to purchase equipment
  • Paying interest for the loan doesn’t add value to the machinery
  • You must maintain the equipment, which is an additional expense

Working Capital Loans

Working capital loan funding allows you to pay for basic business expenses, whether paying your staff or purchasing more inventory.

This short-term financing option helps seasonal business owners and others access quick cash.


  • Lenders may require collateral from borrowers with bad credit.
  • Interest rates can be higher for a short-term loan.
  • It’s tempting to use short-term loans often, but taking out too many loans can adversely affect your credit score.
  • Some lenders require daily, weekly or bi-monthly  payments
  • Lenders may charge origination fees from 3% to 7%

Invoice Factoring

Factoring involves the total outstanding sum for invoices to a factoring company.

The approval process for this type of unsecured business loan is simple, and you get access to cash quickly.

Don’t confuse this type of business loan with invoice financing, which is for a selected group of invoices you decide to sell.


  • A costly way to borrow money
  • Some small business owners don’t use invoicing to collect payments
  • A third party collects payments from customers, decreasing your interaction with your customer base
  • If customers don’t pay, the third-party invoice factoring company may require you to pay them back

Startup Loans

Having cash decreases financial challenges and gives you the needed capital to start your business. But with minimum-time-in-business requirements, startups find it almost impossible to receive a lender’s approval.

Startup business loans have more lenient requirements than other commercial loans.

Proceeds from these products help you finance one-time and ongoing expenses before launching your business.


  • Receiving loan proceeds means you now have a payment that reduces the capital you can spend.
  • Not only do you repay the principal amount borrowed, but the payment includes interest and any fees you opted to include in your loan payment.

At Camino Financial, we offer some of the best small business loans for startups.

Apply For A Startup Loan!

Commercial Real Estate Loans

Business owners can make extensive renovations to a commercial property or purchase a warehouse or office with a commercial real estate loan.

Compared to other loan types, the interest rates of a commercial mortgage loan are usually lower and provide long-term repayment options to keep the payment low as you build revenue.


  • Lender requirements vary widely. Some are strict, while others are more lenient.
  • Lenders typically look at your business and personal credit and financial history since loan amounts are usually higher, which increases their risk.
  • The property has a lien until you pay the loan in full.
  • Loan to value ratios averages 60% to 80%. That means the borrower must make a down payment for the difference between the amount loaned and the property’s value.

Business Credit Cards

Commercial credit cards keep your personal and business finances separate, and lenders offer a variety of rates, rewards, and bonuses.

Getting a business credit card is easier than applying for loans and lines of credit.

Cards are convenient for making purchases, building credit, and providing rewards such as cashback and travel incentives.


  • Credit card lenders may require a personal guarantee and or SSN
  • Borrowers unable to pay off the balance in full each month will pay interest on the unpaid balance. If they don’t pay on time, they incur late fees, and the company usually reports missed payments to the 3 major credit bureaus.
  • Using one too often contributes to bad money management habits
  • You may not qualify for a high enough limit to make larger purchases.
  • Many credit card companies charge an annual rate

Personal Loans For Business Use

Sometimes a personal loan may be one of the best small business loans. They offer a quick way to get money to launch or expand your business.

Moreover, they’re easier to qualify for and sometimes have lower interest rates than business loans.


  • It doesn’t build a business credit score because the lender doesn’t report payments to your personal credit history.
  • Most loans require a personal guarantee.
  • Personal loans may not provide sufficient business capital.
  • Interest and fees may not qualify as business expenses.
  • It might promote the habit of commingling personal and business finances.
  • The lender may restrict borrowers from using funds for business purposes.

You can use a Camino Financial’s Solopreneur loan as a personal loan.

The Best Small Business Loans At A Glance

AmountInterest RateTenureMin. ScoreTime in BusinessMin. Annual IncomeAccepts ITIN?Collateral needed?
Camino Financial$5,000 – $400,00012-40% (annual)2-5 yearsN/A9 months$30,000✔️
Bank loan$100,000 – $1,000,0003-6%5-10 years7002 years$100,000
SBA loan 7(a)$30,000 – $5,000,0006-10%10-25 years6752 yearsBased on industry
Invoice financing70% – 85% of  unpaid bills5%When payment is received6001 year$130,000
Line of credit$10,000 – $1M7-25%3-18 months6301 year$180,000
Short-term loan$2,500 – $250,00010-65%3-18 months6001 year$100,000
MCAUp to $500,000, depending on your sales40-400%3-12 months5001 year$50,000
Long-term loans$5,000 – $600,0004-30%1-20+ years6502 years$100,000
Equipment financing loans$5,000 – $6 million4-40%1-5+ years500-6702 years$50,000Equipment is collateral
Invoice factoring50% – 97% of invoice total0.75-3% (factoring fee)6 months – 2 years0-6006 monthsN/A
Personal loans$2,000 – $50,0005.39-35.99%1-7 years600None$50,000
Business credit cards20.55% variable (Avg)30-day payment cycle690-8502 years
Microloans$500 – $50,0008-15%3-6 years6001 year$50,000
Startup loans$500 – $750,0004-35%12-36+ months600None
Working capital loans$500 – $500,0003-99%1-5 years500-6501 year$100,000
Commercial real estate loans$5,000 – $20 million3-35.99%5-20 years6502 year$120,000Real estate is the collateral

❔ = Varies widely: depends on the lender or your application

Apply For A Camino Financial Loan!

Other Alternative Business Financing Options

  • Peer-to-peer (P2P) lending. Borrowers connect with online lenders without going through traditional and non-traditional lenders.
  • Crowdfunding. Business crowdfunding platforms help you reach large groups of people. Each person contributes a percentage of the money you need.
  • Angel investors. There’s no loan payment because the investor assumes the risk if your business fails. These investors know how to run a business and choose companies they believe will succeed.
  • Venture capitalists. Private investors provide more significant sums of capital to businesses with a high potential to grow quickly.
  • Friends and family. People closest to you that believe in your business’s potential may be willing to loan you money.
  • Grants. These are available through regional, state, and federal agencies, and most do not require you to repay the money.

How To Get Approved For Business Growth Loans

Choose a lender with requirements you can meet to qualify for one of the best small business loans.

General Requirements

Here are some of the most common business loan requirements:

  • Lenders will have minimum requirements for personal credit score, annual revenue, and the number of years in business.
  • A secured loan requires personal or business assets compared to an unsecured loan that doesn’t need collateral to approve the loan.
  • To determine their financial risk, lenders compare how much income and debt you have. They mainly concentrate on how well you manage your business and, in some cases, your personal finances within a specified timeframe.
  • Lenders also review your industry’s risk factor, as some are riskier than others.
  • Some financing options have different approval processes. For example, a merchant cash advance will check how many credit and debit card sales you make.

How To Apply

  1. Complete the loan application with personal and business information.
  2. After reviewing the application and financial documents, the lender will decide whether to offer you funds.
  3. Reputable lenders will work closely with you to find the best financial product for each business.
  4. When you receive an offer, it’ll be up to you to accept the lender’s loan agreement terms.
  5. Once you sign the contract, the distribution of funds can occur from 1 day to 2 weeks or more, depending on the type of business loan.

#What’s the best way to get a small business loan?
The fastest and easiest way to get business capital is through online lenders.

What Should I Take Into Account When Choosing A Small Business Loan?

When you analyze the different best small business loans, pay attention to details such as:

  • interest rates
  • minimum requirements
  • do they require collateral?
  • other costs, like commissions, fees, penalties, and operating expenses
  • if the amount is enough for your investment needs
  • if your cash flow can stand the loan payments

After a thorough analysis, you will surely reach the same conclusion as we did:

A Camino Financial small business loan is the best option.

We know you have put all your effort and hard work into your small business. That’s why you need to find a lender that understands what your business means to you. Unfortunately, most large lenders ignore what the business stands for; they only see assets and liabilities.

We see people and inspiring stories.

Get Capital From The Best Lenders For Small Business Loans

We understand how important it is to get capital. It helps you achieve the peace of mind you need when managing a small business. However, we also know that you are looking for an agile lender that does not seek to hinder your company’s growth.

We offer you a quick and easy experience to access the capital you need. Our process is so simple that you will complete it without having to ever leave your home.

We are your best small business loans alternative:

  • Other loans require that your business has been in operation for 1 or 2 years. We only ask for 9 months.
  • Other lenders do not offer capital to people with no prior credit history. We do.
  • We approve your loan, even if you don’t have an SSN. You can use your ITIN.
  • The amount you apply for can adapt to your needs, and you’ll have enough time to repay so that your monthly payments are not excessive.
  • You can receive the financing you need in no time.

As you can see, a loan with Camino Financial is exactly what your business needs.

Apply for a business loan and start growing your business!

Apply now!



What is a small business loan?

Small business loans are financial products that give approved applicants a lump sum of money.

As their name indicates, they are for small businesses; as such, they offer less significant amounts of money.

What credit score do you need for a small-business loan?

Credit scores vary per lender, but the average credit score requirement is 650 to 720.

Can you get a small business loan with bad credit?

Yes, it’s possible when the lender accepts a credit score below 600, but they charge a very high-interest rate to compensate for potential loan default.

Can I get a business loan for my startup?

It’s possible to get a business startup loan, but applicants without business history information and a credit score won’t likely qualify for a loan amount to cover startup costs.

Even if they qualify for a smaller loan, a lender will charge a higher interest rate based on their risk.

How to qualify for a small business loan?

Be able to meet a lender’s minimum requirements such as several years in business, minimum credit score, annual revenue, and provide requested financial and legal documents.

How to apply for a small business loan?

Have your documents ready before applying for a loan to make the application process quicker and smoother.

Choose a lender with the best terms and interest rates and one that has requirements you can meet.

Complete the application answering each question carefully.

Once you submit your application, the lender should contact you within hours or days to provide an update.

How do small business loans work?

Once a lender approves the loan, the borrower usually makes fixed payments for a specific term to repay the amount borrowed and the interest rate.

Sometimes, an applicant decides to include the closing costs and other fees in the total amount they borrow.

What can you do if you receive a loan denial?

Follow these tips:

  • Ask the lender why they denied the loan.
  • Start improving your credit immediately.
  • Review your credit report and work with the 3 major credit bureaus to remove any invalid entries.
  • Pay your bills on time and take out a business credit card.
  • Pay off the card’s balance each month to improve your credit score.
  • Apply with a lender that has more lenient requirements.

Am I personally liable for a small business loan?

Depending on your type of business structure (sole proprietorship, partnership), you could be personally liable if the business fails to pay off a small business loan.

Also, a lender may ask you to sign a personal guarantee, which also means you’re personally liable.

Where to get a small business loan?

You can get them from traditional or online lenders.

Some business owners prefer a more person-to-person approach and get financing from traditional banks and credit unions. These financial institutions offer lower rates, have more requirements, and the loan process can take weeks or months.

For quicker financing, online lenders have fewer requirements but might charge higher rates.

What is the best bank for small business loans?

Some of the best banks for small business loans are Chase, Wells Fargo, and Bank of America.

What is the best loan to start a small business?

Startup loans are the financing options that will give you the funds to start a business. Camino Financial offers the best startup loans because we have minimal requirements.

What are the best small business loans?

When considering interest rates, requirements, and speed, online loans win the race.

What are the 2 types of loans?

Financial products can either be:

  • secured
  • unsecured

What are examples of business loans?

Some types of small business loans are:

  • SBA loan
  • equipment financing
  • business term loan
  • commercial real estate loan
  • business lines of credit
  • merchant cash advance
  • accounts receivable financing

What is the most common type of business loan?

Bank loans are the most popular type of loan, although online lenders are gaining traction because of their more accessible requirements.

What are the best small business equipment loans?

Crest Capital, National Funding, and Currency offer some of the best equipment loans. But did you know that you can use Camino Financial loans to buy business equipment?

What are the best small business auto loans?

Some of the best lenders offering auto loans are Bank of America, Wells Fargo, and U.S. Bank. Fortunately, applicants can use a Camino Financial loan to finance commercial vehicles.

Which loan is best for business?

Camino Financial loans can offer capital up to $400,000 with very competitive interest rates and minimal requirements. This makes them some of the best alternatives in the market.


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