Funding Circle does not require a minimum annual revenue.Credibility Capital offers short-term financing — one, two or three years — to companies with good credit, making it a valid option for businesses looking to refinance expensive debt.
Cons: Not for borrowers with bad credit or low revenue.
Nerd Wallet has created a list of the best small-business loans to meet your needs and goals.
[Back to top] Able offers business loans of up to $1 million that can be partly subsidized by your friends and family, making it a good choice if you’ve rounded up a loyal customer base.
Under the Able Growth loan model, Able picks up the rest of the financing after your backers’ contributions.
This is known as loan stacking, and it can happen when borrowers fail to qualify for one large, low-interest small-business loan.
Jerry Silberman, founder of debt restructuring service Corporate Turnaround, has seen small-business owners with as many as 10 merchant cash advances.Plus, Prosper debt consolidation loans have a fixed interest rate, and your loan principal goes down as you make your loan payments—so you can stop your high interest credit card debt from spiraling out of control.Prosper's online electronic payment system lets you manage your entire consolidation loan directly and with ease.The Prosper community does not require "perfect credit." If you have an average to an above average credit rating, one way to expedite your loan funding is to ask another Prosper member (especially a lender) to endorse you. To qualify for an AA Prosper Rating, applicants must have excellent credit and meet other conditions.APRs by Prosper Rating range from 5.99% (AA) to 36.00% (HR) for first time borrowers.Many entrepreneurs turn to online alternative lenders for business debt consolidation and refinancing.