If you’re seeking small business loans in New York City (NYC), there are several reputable lenders to consider.
Here are some of the best small business loan companies based on different criteria :
- OnDeck :
- Best for Short-term Loans.
- Offers quick funding for small businesses.
- Suitable for covering immediate expenses or bridging cash flow gaps.
- Minimum credit score: 625.
- Time in business: One year.
- Minimum annual revenue: $100,000.
- Lendio :
- Best for Lender Comparison.
- Lendio is a loan marketplace that connects businesses with various lenders.
- Helps you compare loan options and find the best fit for your needs.
- Minimum credit score: 625.
- Time in business: One year.
- Minimum annual revenue: $100,000.
- BlueVine :
- Best for Lines of Credit.
- Offers flexible lines of credit for businesses.
- Quick application process and competitive rates.
- Minimum credit score: 660 FICO at the time of application.
- Time in business: One year.
- Monthly revenue: At least $3,000.
- National Funding :
- Best for Small to Mid-Sized Business.
- Provides financing solutions for businesses of varying sizes.
- Minimum credit score: 600.
- Time in business: Six months.
- Monthly revenue: $250,000 annually.
- Fundbox :
- Best for Quick Approvals.
- Offers fast approval and funding.
- Minimum personal credit score: 600.
- Minimum time in business: Six months.
- Minimum annual revenue: $100,000.
- Funding Circle :
- Best for Established Business.
- Suitable for well-established businesses seeking growth capital.
- Minimum credit score: 660.
- Time in business: One year.
- Monthly revenue: Not disclosed.
Remember to evaluate each lender based on your specific business needs, credit profile, and financial situation. Compare interest rates, terms, and fees to make an informed decision.
Good luck securing the financing your business requires! 🌟