For small business owners who need money to start or grow their business, we offer loans from $1,000 to $1,000,000. These loans can be used for working capital, to purchase inventory, for equipment and other hard assets, for short-term business training, for promotions and advertising, to retire existing business debt, or for the purchase of an existing business.
To qualify for a business term loan you must:
- Be at least 18 years of age.
- Have a credit score of 550 or higher (600 or higher in Texas). Smaller loans are possible with a minimum credit score of 500 or no credit score (in participating areas).
- Not have any active bankruptcies or foreclosures in the past 12 months.
- Be current on all your personal and business bills.
- Exhibit steady cash flow and the ability to support monthly loan payments.
- Provide proof of income and revenue.
- Provide collateral based on loan size.
- Additional criteria may apply.
If you don’t meet these basic requirements, we encourage you to check back after you've had a chance to strengthen your application.