Securing the right financing is critical for small businesses looking to grow, manage cash flow, or invest in new opportunities. Whether you need an SBA loan, a short-term loan, or a business line of credit, choosing the right lender can make all the difference.
In this review, we analyze the top small business lenders—Biz2Credit, Live Oak Bank, MultiFunding, Kiva U.S., 1West, OnDeck, and BusinessLoans.com—to help you find the best fit for your needs.
Comparison Table
| Lender | Pros | Cons | Pricing |
|---|---|---|---|
| Biz2Credit | ✅ Fast online application ✅ Offers various loan types ✅ Uses data analytics for loan matching |
❌ $250,000 minimum revenue required ❌ Shorter loan terms lead to higher monthly payments |
Interest rates start at 7.99% (Source) |
| Live Oak Bank | ✅ Specializes in SBA loans ✅ Offers large loan amounts ✅ Digital-first platform |
❌ Limited non-SBA loan options ❌ No physical branches |
SBA rates range from 7.75% to 10.25% (Source) |
| MultiFunding | ✅ Partners with 200+ lenders ✅ Finds competitive pricing ✅ Helps secure long amortization terms |
❌ Not a direct lender ❌ Fees vary by lender |
Varies by loan type and lender |
| Kiva U.S. | ✅ 0% interest loans ✅ No credit score or collateral required ✅ Supports underserved entrepreneurs |
❌ Small loan amounts (up to $15,000) ❌ Requires community support |
0% interest, no fees |
| 1West | ✅ Works with 50+ lending partners ✅ Loans from $5,000 to $20M ✅ Offers SBA, equipment, and working capital loans |
❌ Acts as a loan broker, not a direct lender ❌ Some reports of slow communication |
Interest rates vary, typically 5%–18% |
| OnDeck | ✅ Same-day funding available ✅ Reports payments to business credit bureaus ✅ Offers term loans and lines of credit |
❌ Higher interest rates than banks ❌ Requires frequent repayments |
APRs range from 27.2% to 99.9% (Source) |
| BusinessLoans.com | ✅ No minimum credit score required ✅ Matches borrowers with multiple lenders ✅ Loans up to $3M |
❌ Marketplace model means varying experiences ❌ Some partners charge high interest rates |
Varies by lender (Source) |
Individual Lender Reviews
Contents
1. Biz2Credit
Overview: Biz2Credit is an online loan marketplace that connects small businesses with financing options, including term loans and working capital loans.
Why We Like It: With a fast application process and data-driven loan matching, it’s a strong choice for businesses that need quick, tailored funding.
Pros & Cons:
✅ Streamlined application process
✅ Wide range of loan products
✅ Uses data analytics for better loan matching
❌ $250,000 minimum annual revenue requirement
❌ Short loan terms may lead to high monthly payments
Pricing: Rates start at 7.99%.
2. Live Oak Bank
Overview: Live Oak Bank specializes in SBA loans and provides financing for specific industries.
Why We Like It: Businesses seeking large SBA-backed loans with competitive rates will benefit from Live Oak’s expertise.
Pros & Cons:
✅ Focuses on SBA loans
✅ Loan amounts from $10,000 to $15M
✅ Digital-first banking model
❌ Limited loan options outside SBA programs
❌ No physical branches
Pricing: SBA rates range from 7.75% to 10.25%.
3. MultiFunding
Overview: MultiFunding helps businesses secure financing through its network of 200+ lenders, specializing in SBA and asset-based loans.
Why We Like It: Its wide lender network and competitive pricing strategies make it a good option for those looking for the best possible terms.
Pros & Cons:
✅ Helps businesses compare multiple financing options
✅ Advocates for competitive loan terms
✅ Access to SBA-guaranteed and asset-based loans
❌ Primarily a loan broker, not a direct lender
Pricing: Varies by lender and loan type.
4. Kiva U.S.
Overview: Kiva U.S. provides 0% interest loans of up to $15,000, helping small business owners who may not qualify elsewhere.
Why We Like It: No credit checks, no collateral, and community-backed funding make this a great option for startups and underserved entrepreneurs.
Pros & Cons:
✅ 0% interest financing
✅ No minimum credit score required
✅ No collateral necessary
❌ Low loan amounts (max $15,000)
Pricing: 0% interest, no fees.
5. 1West
Overview: 1West is a loan brokerage that works with 50+ lending partners, offering financing for working capital, equipment, and SBA loans.
Why We Like It: It provides flexibility in loan options with access to both small and large funding amounts.
Pros & Cons:
✅ Loans from $5,000 to $20M
✅ SBA, equipment, and working capital financing
✅ Wide lender network
❌ Acts as a loan broker, not a direct lender
Pricing: APRs range from 5%–18%, depending on loan type.
6. OnDeck
Overview: OnDeck provides fast business funding, including term loans and lines of credit.
Why We Like It: It’s one of the best options for businesses that need same-day funding.
Pros & Cons:
✅ Same-day funding available
✅ Helps build business credit
✅ Flexible loan options
❌ High interest rates
Pricing: Term loans 27.2%–99.9% APR, Lines of credit 35.9%–84.9% APR.
7. BusinessLoans.com
Overview: BusinessLoans.com is an online marketplace that connects businesses with multiple lenders.
Why We Like It: No minimum credit score is required, making it accessible to more borrowers.
Pros & Cons:
✅ No credit score requirements
✅ Wide range of loan types
✅ Loans up to $3M
❌ Loan terms and interest rates depend on the matched lender
Pricing: Varies by lender.
Final Verdict: Which Lender Is Right for You?
- Need fast funding? → OnDeck
- Looking for SBA loans? → Live Oak Bank
- Need $0 interest financing? → Kiva U.S.
- Want flexibility and options? → MultiFunding or BusinessLoans.com
- Looking for a loan marketplace? → Biz2Credit or 1West
For small businesses, the best lender depends on loan size, interest rates, and funding speed. Evaluate your needs carefully and choose the lender that aligns with your business goals.
🚀 Need funding fast? Explore these lenders today!