Best Small Business Loans for Bad Credit

When you have bad credit, you can still get a small business loan. This is because your credit score doesn’t matter as much as the overall financial health of your business. Most lenders require a minimum credit score of 500, at least six months in business, and $40,000 in annual revenue. 

Small business loan products include:

  • Merchant cash advance
  • Invoice factoring
  • Line of credit
  • Working capital
  • Business expansion
  • Equipment financing
  • Small business administration (SBA) loans

You can expect to pay higher fees and interest rates when you have bad credit as a business owner. When you take out certain loan products, such as an invoice factoring loan or a merchant cash advance, these loans rely on future sales or money already invoiced but not yet received. 

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