best working capital loans

When looking for the best working capital loans for your business, it's crucial to consider factors like application speed, funding time, loan amounts, interest rates, and credit score requirements. Here are some of the top options available in 2024:

1. Lendio:

• Best for Variety: Lendio is an online marketplace that connects you with over 75 lenders, offering a wide range of loan products including term loans, lines of credit, merchant cash advances, and invoice factoring. It caters to businesses with a minimum credit score of 500 and annual revenue of at least $20,000​ (Fit Small Business)​​ (finder.com)​.

1. BlueVine:

• Best for Quick Application: BlueVine offers lines of credit up to $250,000, with application decisions made in as little as five minutes and same-day funding possible. It requires a minimum credit score of 625, two years in business, and $40,000 in monthly revenue​ (finder.com)​​ (Money)​.

1. Fundbox:

• Best for Bad Credit: Fundbox provides lines of credit up to $150,000 with APRs starting at 4.66%. It is suitable for businesses with a minimum credit score of 600 and offers quick access to funds, often by the next business day​ (Merchant Maverick)​​ (Money)​.

1. QuickBridge:

• Best for Fast Approval: QuickBridge offers simplified application processes for term loans and other funding options. They provide quick approvals, often within a few days, and require minimal documentation. QuickBridge loans are available to businesses with at least six months in business and $250,000 in annual revenue​ (Fit Small Business)​.

1. National Funding:

• Best for Customer Service: National Funding offers term loans up to $500,000 with a strong emphasis on personalized customer service. They provide fast funding, sometimes as quickly as 24 hours, and have flexible repayment terms. They require a minimum credit score of 600 and six months in business​ (Fit Small Business)​.

1. PayPal Working Capital:

• Best for Flexible Payments: PayPal offers working capital loans based on your PayPal sales, without requiring a traditional credit check. This option is ideal for businesses that process payments through PayPal and need flexible repayment options. Loan amounts range from $5,000 to $150,000 for first-time borrowers​ (Money)​.

1. SBG Funding:

• Best for Same-Day Funding: SBG Funding provides various loan options including term loans, lines of credit, and invoice financing. They offer same-day approval and funding, with flexible terms tailored to your business needs. They accept credit scores as low as 500​ (Fit Small Business)​.

Each of these lenders has unique strengths, so consider your specific business needs, credit profile, and how quickly you need access to funds when choosing the best working capital loan for your business