Transparency Relationships Accommodate Meaningful
Transparency Relationships Accommodate Meaningful
Our simple 15 second online application can get you matched with offers in minutes.
Bad credit? No problem! Most of our top financing options have no minimum FICO.
Get matched with the best financing options with the highest funding amount.
Our FinTech Speed can get you in and out of Underwriting in just a few hours, and same day funding!
Microloans are loans for $50,000 or less, averaging $15,000 in 2021.
Microloans for small businesses are typically offered by nonprofits, government agencies, or individual lenders to be used for a variety of business expenses.
Microloan programs can differ with focus on specific types of businesses;
such as female entrepreneurs, underserved communities, or veterans.
Some microloans specify that funds be used for specific purposes.
Microloan uses may Include:
In addition to lending money, some microloan programs offer assistance with things like marketing, financial counseling, training, and technical assistance to support budding entrepreneurs. For new business owners, this support can be valuable to help them responsibly use capital and plan for the future of their business.
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Bank | Direct Lenders | |
|---|---|---|---|
|
Paperwork |
|
|
|
|
Application |
|
|
|
|
Number of Lenders |
75 + |
1
|
1 |
|
Service Level |
Business Advisor |
Processor |
Programmatic |
|
Approval Process |
Hours / Days |
Weeks / Months |
Days / Weeks |
|
Speed to Funding |
Hours / Days |
Months |
Days / Weeks |
|
Collateral Requirements
|
Not Necessary |
Always |
Sometimes Required |
|
Business Profitability
|
Not Necessary |
Last 2 Years |
Sometimes Required |
|
Credit Score
|
No Minimum FICO |
680 + FICO |
600 + FICO |
|
Credit Check
|
Soft Pull |
Hard Pull |
Hard Pull |
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