Top unsecured business loans.

Ready to apply for a loan? Lendio works with 75+ lenders to find the right option for your business. Click "Apply Now" to fill out our simple application.

$
Applying is free and won't impact your credit*
Loan Amount
$10k–$5 million
Time to Fund
1–3 business days
Loan Terms
6 months–7 years

What is an unsecured business loan?

An unsecured business loan is a financing option that does not necessitate collateral, allowing you to secure funding without risking personal assets. Lenders may still require a personal guarantee or file a blanket lien on business assets.

Pros and cons of unsecured business loans.

Pros of unsecured business loans:

- No collateral required: Lower risk to personal or business assets.
- Faster approval: Quicker funding compared to secured loans.
- Flexible use: Funds can be used for a variety of business needs.

Cons of unsecured business loans:

- Higher interest rates: Compensates for the lack of collateral.
- Stricter credit requirements: May be harder to qualify for some businesses.
- Shorter terms: Typically have shorter repayment periods.

Top unsecured business loans.

Lendio carefully selects the lenders in its marketplace and then works with you to find the best revenue-based financing for your unique situation. Read on for stats on each lender and what each lender is best at. Learn about our methodology for lender selection here.
Lender/Funder*
Min. Time in Business
Loan/Financing Amount
Min. Credit Score
Time to Funds
Headway Capital
1 year
$5,000-$100,000
625
As soon as 3 days
Idea Financial
2 years
$10,000-$275,000
650
As fast as 24 hours
Gillman-Bagley
3 months
$50,000 to $10 million
none
1 business day
OnDeck
1 year
$5,000-$250,000
625
Same day after approval
Funding Circle
2 years
$25,000–$500,000
660
3 days after approval
BHG Financial
2 years
$20,000-$500,000
700
3 days after approval

Headway Capital – Line of Credit

Funding amount
$5,000-$100,000
Term
12, 18, 24 months
Min Credit Score
625
Time to funding
As fast as 24 hours after approval

Idea Financial – Line of Credit

Funding amount
$10,000 - $275,000
Term
Up to 18 months
Min Credit Score
650
Time to funding
As fast as 24 hours after approval

Gillman-Bagley – Invoice Factoring

Funding amount
$50,000 to $10 million
Term
30 days
Min Credit Score
N/A, based on accounts receivables
Time to funding
As soon as same day

OnDeck – Revenue-Based Financing

Funding amount
$5,000-$250,000
Term
18-24 months
Min Credit Score
625
Time to funding
As soon as same day after approval

Funding Circle – Term Loan

Funding amount
$25,000-$500,000
Term
6 months - 7 years
Min Credit Score
660
Time to funding
As soon as 3 days after approval

BHG Financial – Term Loan

Funding amount
$20,000-$500,000
Term
3-12 years
Min Credit Score
700
Time to funding
Approval in as little as 24 hours, funding in as little as 3 days

Types of unsecured business loans.

SBA Microloan

This program offers small unsecured loans of up to $50,000, making it an excellent choice for startups seeking initial funding.

Term Length
Up to 7 years
Max Loan Amount
Up to $50,000

SBA 7(a) Loan under $50k

The SBA doesn’t require collateral for an SBA 7(a) loan under $50K.

Term Length
Up to 7 years
Max Loan Amount
Up to $50,000

Unsecured line of credit

A flexible funding solution akin to a credit card, allowing businesses to draw on funds as needed without collateral.

Term Length
1-2 year maturity
Max Loan Amount
Up to $500,000

Invoice factoring

A method to obtain immediate cash by selling unpaid invoices, offering a quick solution to improve cash flow.

Term Length
Up to 1 year
Max Loan Amount
Up to $10 million

Revenue-Based Financing

This financing option allows businesses to receive an advance on future sales, which is repaid through daily revenue.

Term Length
Up to 36 months
Max Loan Amount
Up to $2 million

Minimum requirements for an unsecured business loan.

Credit score
625+
monthly revenue
$8K+
time in business
3+ months
Quickly estimate your funding options.
Time In Business
0 - 6 Months
6 - 12 Months
1 - 3 Years
3+ Years
Monthly revenue
Industry
Credit Score
Business type
Legal partnership
LLC
Corporation
Sole proprietor
Congrats--it looks like you qualify.*

Based on your business information you could qualify for up to $ 52,000 in funding

Funding amount *

$ 36,000 - $ 52,000

*Amount is an estimate only using the information provided Businesses like yours typically receive offers like these.
Compare your funding options today.
Apply now

Many businesses don't qualify for funding for all kinds of reasons. A few factors could include:

Not enough revenue
Not enough time in business
Credit score is too low

*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.

How much can I qualify for?

Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.

Four simple steps to funding.

Tell us about your business.

Answer a few simple questions and complete the application in minutes.

Submit your application.

We’ll present your application to our marketplace 75+ lenders. Applying is free and won’t impact your credit score.

Compare offers.

Find the funding option with the terms that best fit your small business goals.

Get funded.

Once you accept, funding can hit your bank account in as little as 24 hours.

12+ years of serving small businesses.

Get the answers and the funding you need with support all along the way.

$16+ billion

in small business funding facilitated in the last decade.

4.8 stars

21,000 Trustpilot® reviews.
50% repeat customers.

400,000+

total small business loans funded in the last decade.

FAQs

Find answers to some commonly asked questions about unsecured business loans.

What is the difference between collateral, blanket lien and personal guarantee?


When it comes to securing a loan, there are several options that lenders may require:

  • Collateral: A tangible asset used as security for the loan.
  • Blanket lien: A legal claim on all business assets in case of default.
  • Personal guarantee: The borrower’s personal assets serve as collateral for the loan.

While unsecured loans do not require collateral, lenders may still take out a blanket lien on business assets or require a personal guarantee to mitigate their risk. It is essential to carefully consider these terms and evaluate the potential impact they could have on your business before accepting an unsecured loan offer.

How do you get an unsecured business loan?

To successfully navigate the funding process, follow these essential steps:

  1. Assess your needs: Identify the amount of funding required and its intended purpose.
  1. Check your credit score: Verify that you meet the minimum criteria set by your selected lender.
  1. Collect necessary documents: Including financial statements, a detailed business plan, and your most recent tax returns.
  1. Apply: Complete the application process and submit the required documents.
  1. Review offers: Compare offers from multiple lenders to determine the best fit for your business needs.
  1. Select lender: Once you’ve found a suitable lender, accept their offer and begin the funding process.
  1. Repay loan: Make regular payments as agreed upon with the lender to ensure good standing and maintain a positive credit score for future financing needs.

Ready for funding?

See what you can qualify for on the Lendio Marketplace.