5 Best Companies Offering Unsecured Business Loans

By Helena


Banks usually require collateral as security for a business loan plus a personal guarantee. This article recommends you the best unsecured business lenders for borrowers who don’t want to pledge business collateral or personally guarantee a loan. We also recommend the best unsecured business loans for small business owners who are okay with personally guaranteeing a loan but can’t come up with adequate collateral.

Lending Club

Lending Club has started its operation in March 2014.You must have owned the business for at least two years and have at least $75,000 in annual revenue. Borrowers can request $15,000 to $300,000 and pay back the loans under flexible terms ranging from one to five years. The interest rates range from 5.99 percent to 35.89 percent.

Lending Club charges an origination fee of roughly 1 percent to 6 percent, and there are $15 fees for unsuccessful payments and payments by check. Late payments will cost you $15 or 5 percent of your outstanding balance, whichever is greater. Any relatively established small business that wants flexible repayment terms can apply.


Kabbage can provide up to $100,000 almost immediately after filling out a simple application. You are required only to have a business checking account or PayPal account to apply, but Kabbage can also examine data from other channels your business may use, including Amazon, eBay, Yahoo, and QuickBooks. However, your repayment term will be a short six months, and the cost of convenience is high: 1 percent to 13.5 percent of the loan for two months, then 1 percent for the next four months.

Kabbage is a compelling option for small online businesses that don’t meet stricter requirements of other lenders. It’s also a contender for business that needs money with as little lag time as possible.

Market Lend

Marketlend Pty. Limited is an online marketplace lender, or otherwise known as a peer to peer marketplace. Marketlend and its representatives manage the registration of borrowers, investors, originators, and affiliated parties. Borrowers can set the terms of the trade credit and the rate they are willing to pay. The loan will be listed on the company’s marketplace auction site. Investors will make competitive bids in an auction to invest. After the auction ends, settlement occurs in 1 hour.


Accion is a nonprofit microlender that specializes in small business loans. It offers loans specifically for start-ups that have been open for less than six months. Accion's loan amounts and minimum requirements vary by state. Among the more common requirements are a minimum credit score of 575, sufficient cash flow and proof of income. Maximum loan amounts range from $10,000 to $100,000. Applications can be filled out online, with approval usually taking place within one month. Accion's loans, most of which have annual percentage rates starting at 10.99 percent, are repaid on a monthly basis over the length of the loan.

Crest Capital

Crest Capital offers equipment financing of up to $1,000,000. Financial documents aren't needed for financing of less than $250,000. The lender has a wide range of loan and lease terms, including fixed-rate loans, $1 purchase agreements, 10 percent purchase options, fair-market-value leases, guaranteed purchase agreements and operating leases. To qualify, you must have been in business at least two years and have a minimum credit score of 650. The approval process can be completed in as fast as 4 hours. Go here for our full review of Crest Capital.

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