Best Business Loans for Bad Credit for November 2024

You can get a business loan even with bad credit. This is because your credit score doesn’t matter as much as the overall financial health of your business. Many lenders require a minimum credit score of 500, at least six months in business, and more than $30,000 in annual revenue. However, you can expect to pay higher fees and interest rates when you have bad credit as a business owner.

We reviewed 19 different small business loan lenders to determine the best small business loans for bad credit. Loan terms and rates should be reasonable, so these were important considerations in our assessments. We also looked at real customer reviews, credit score requirements, and loan amounts available.

LoanBuilder-PayPal tops our list of best business loans for bad credit because of its loan terms and quick funding. Having bad credit means you’re a risk for most lenders. According to FICO, a bad or poor credit score falls anywhere under 580. You may have a history of late payments, default, too much debt, and/or negative notes on your credit reports like collection items.