Best Unsecured Business Loans: 9 Options to Secure Your Loan

Whether your cash flow is running thin, you have an unexpected expense, or you’re looking to expand, securing a business loan online is probably one of your top priorities today. Finding a business loan online may seem like a daunting task. However, the process is more straightforward than you may think.

Many businesses don’t have the collateral required to qualify for a loan at their local bank. Fortunately, there are lenders that do not require collateral in order to secure a loan. These loans are often referred to as unsecured loans.

Unsecured loans are suited to small business owners seeking quick and easy access to small business funding. When faced with a need to cover unexpected expenses, an unsecured loan may be just what you need to help your small business grow. There are many forms of unsecured loans, including business lines of credit, SBA loans and peer to peer loans.

Before beginning the process, though, you should ask yourself whether securing a loan is a necessity for your business right now. Business loans often come with significant hidden and administrative fees in addition to the typical annuities. If you can figure out a way to continue doing business without taking a loan, it may be better to hold off.

Once you’re confident that a loan is in the best interest of your business, you need to research your options. Loan terms, funding process times, fees, and other impactful properties greatly vary from company to company.

Fortunately, we’re here to help. We’ve compiled a list of the top nine options to secure a $10,000 business loan online, providing you with details on each to help you make an informed decision. Use this list as a jumping-off point to see which online business loan offering is right for you.


BlueVine provides business term loans up to $250,000, so a $10,000 loan is well within the company’s limitations. To apply, you need a FICO score higher than 600, over $100,000 in revenue, and to have been in business for at least six months.

[element-for-review-cta id=1424 text=”$5,000 – $5M fast funding for your business. Apply online and get approved in as fast as 20 minutes”]


Loan rates at BlueVine start at 4.8 percent and terms follow a six- or 12-month payment schedule.

If you’re looking for a less traditional type of loan, BlueVine also offers lines of credit as well as invoice factoring. The credit lines maintain the same maximum loan amount ($250,000) and starting rate (4.8 percent) as the term loans, whereas invoice factoring lines can reach up to $5 million with a starting rate of 0.25 percent per week.

BlueVine does not offer unsecured loans. However, BlueVine does not require any specific amount, type or value of collateral and no appraisal or specific assets are required. Financing is secured by a general lien on the assets of the business and backed by a personal guarantee. BlueVine does not take personal assets as collateral.


Getting a term loan on BlueVine is quick and (relatively) pain-free. You can apply online with limited personal and business information as well as a connection to your company’s bank account. Within five minutes, you’ll have a decision on your application.

If your application is approved, the funds typically reach your account the same day, likely within a few hours of approval.

BlueVine maintains transparent pricing with a single flat fee on term loans, invoice factoring, and credit lines.


Similar to BlueVine, Kabbage offers business loans up to $250,000 online. And depending on your type of business, you may find Kabbage’s loan requirements slightly more obtainable.

[element-for-review-cta id=1393 text=”Small business funding options that fit your business. Qualify in 10 minutes for up to $250,000 line of credit”]


To qualify for a Kabbage small business loan, your business needs to be at least one year old and have over $50,000 in annual revenue. If your business only recently started taking off, Kabbage allows you to replace the $50,000 requirement with a minimum of $4,200 in revenue over the last three months.

Kabbage loan terms are either six, 12, or 18 months. Instead of receiving the entire loan amount upfront, you’re able to collect it as you need it. Each month, you pay back an equal portion of your loan principal plus a monthly fee that ranges between 1.5 to 10 percent.

Kabbage offers unsecured, or uncollateralized, loans to small business owners looking for quick access to funds. This form of small business financing does not require any collateral prior to receiving funds and is therefore ideal when faced with new business opportunities that you are eager to pursue.


Kabbage focuses on making the loan application and repayment process as straightforward as possible. The company has published Android and iOS apps from which you can apply for a loan, manage your account, and use your funds directly.

Its website also contains a business loan calculator to help you determine what your fees and total loan costs would be without having to go through the application process.


Unfortunately, loans through SmartBiz range from $30,000 to $5 million, so you won’t be able to obtain a $10,000 loan from this platform. However, we’ve still chosen to include it on this list because it’s one of the largest online business loan facilitators with over $1 billion in loans.

[element-for-review-cta id=1471 text=”SmartBiz helps businesses secure SBA loans and working capital loans”]


Loans on SmartBiz are targeted towards more established companies as they require over two years in business. Additionally, it requires tax returns and financial data that proves you have enough business and personal cash flows to make the loan payments.

SmartBiz specializes in Small Business Administration (SBA) loans, a long-term, low-interest rate, government-guaranteed loan option. There are two types of SBA loans available through SmartBiz.

The first, meant for debt refinancing and working capital caps the loan amount at $350,000 and charges an interest rate of 8.00 to 9.00 percent. SmartBiz grants the second type of SBA loan for commercial real estate purchases and refinancing. These loans cap out at $5 million and come with 6.75 to 8.00 percent interest rates. All SmartBiz SBA loans occur over a 10 to 25 year term period.


SmartBiz is one of the few online business loan platforms that supplies SBA loans. Even if you disregard the commercial real estate loans, the company provides loan amounts that are significantly higher than many of its competitors.

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You have two loan options at your disposal using OnDeck – fixed term and line of credit. For either type, OnDeck requires that you have been in business for over one year, have a 600 FICO credit score, and have annual revenue greater than $100,000.

[element-for-review-cta id=1431 text=”A+ rating with BBB, 9.8/10 customer ratings at TrustPilot. Relaxed eligibility requirements and transparent Information for fast financing solutions”]


The fixed term loan amounts start at $5,000 with a maximum of $500,000. The annual interest rate (AIR) begins at 9.99%, and you may have some additional fees thrown in as well. OnDeck offers flexible loan term lengths depending on your business needs.

OnDeck lines of credit range from $6,000 to $100,000 with annual percentage rates (APRs) starting at 13.99 percent. The company also charges a monthly maintenance fee to businesses that take out a line of credit. However, it waives this fee if you withdrawal $5,000 within the first five days of opening your account.

OnDeck does not require specific collateral and makes loan approvals to small businesses based on business fundamentals like cash flow, credit history, and other metrics that demonstrate a healthy business. When a small business takes a term loan from OnDeck, a general lien is placed on the business’s assets until the loan has been paid off. In this way, business owners can get funding in as fast as one business day without needing a specific amount of real estate, inventory or other hard assets


Like BlueVine and Kabbage, OnDeck’s advantage is in its turnaround time, often providing funds within one business day of successfully applying. When you apply, you also gain access to OnDeck’s SMART Box loan comparison tool, which outlines the terms of your loan agreement in an easy-to-understand way.


With well-known branding and over $28 billion in loans, LendingClub is one of the most popular options for online business loans.

[element-for-review-cta id=1430 text=”Business Loans up to $300K, funds in as little as a few days”]


Like many competitors, LendingClub requires that you’ve been in business for at least a year and have over $50,000 in annual sales to take out a loan. Additionally, you need to own at least 20 percent of the business and have at least a fair (>600) personal credit score.

LendingClub business loans start as low as $5,000 and can reach up to half a million. The repayment terms last anywhere from six months to five years with a total annualized rate of 9.77 to 34.98 percent. LendingClub doesn’t charge any fees for paying off your loan early.


Ninety-five percent of LendingClub clients state that they would recommend the platform to friends and family. And although the application and funding process through LendingClub isn’t as quick as some of its competitors, it’s still relatively speedy. You can apply in under five minutes and receive your funds within a few days.

Seek Capital

Seek Capital, an arm of Seek Business Capital, provides a host of loan options for businesses of all types. The company’s offerings include term loans, lines of credit, invoice financing, startup loans, equipment financing, short term loans, merchant cash advances, SBA loans, and personal loans for business.

[element-for-review-cta id=1492 text=”We love Seek Capital because of their diverse loan types and willingness to help new businesses get funding”]


For the sake of brevity, we’ll only cover the term loan details here. As a business, you can receive a term loan of $5,000, $500,000, or anything in between. The length of the loan term varies but tends to stick between one and seven years. Seek Capital effectively matches you with a lender, so your interest rate, origination fee, and any other fees will differ as well.


Over 92 percent of qualified businesses who apply through Seek Capital are approved for a loan. So, if you have trouble getting a loan through a few of the other companies, Seek Capital may be right for you.

Once again, Seek Capital maintains a relatively quick turnaround time. You’ll generally hear back about your application within a few hours.


Credibly offers working capital loans (short-term), business expansion loans (long-term), and merchant cash advances. To receive a working capital loan or merchant cash advance, you need a FICO credit score of at least 500, six months in business, and $15,000 of average bank deposits. The business expansion loans require more stringent attributes of over three years in business, a 600 FICO score, and a $3,000 daily average balance in your bank account.

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Working capital loans and merchant cash advances have a maximum loan amount of $400,000 and factor rates starting at 1.15. The factor rate is a unique Credibly calculation that equates to the payback amount divided by the funding amount. Business expansion loans come in 18- or 24-month options with interests rates beginning at 9.99 percent.

Credibly charges a one-time fee of 2.5 percent on all loan types.


Credibly’s three distinct online business loans provide specialized advantages, no matter the state of your business. As you could probably guess by now, Credibly decides on your application status within 24 hours. And you’ll likely have funds in your account within one business day upon approval.


Fundation provides term loans for up to $500,000 and lines of credit for up to $150,000. The platform charges an interest rate that varies depending on a few business criteria, such as:

  • The number of years in business,
  • Credit history,
  • Amount and type of debt,
  • Profitability,
  • And growth, among a few other data points.

Fundation doesn’t charge any prepayment penalties if you decide to pay off your loan early.

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The Fundation customer service team has won several awards from Business News Daily, so you can expect quality service during every step of the loan process.

Funding Circle

Rounding out our list is Funding Circle. Like SmartBiz, Funding Circle requires a minimum loan amount greater than $10,000 but has a stellar enough reputation that we felt it belonged. Small business loan amounts range from $25,000 to $500,000 and have rates starting at 4.99 percent per year. The payback period is flexible at six months on the low end up to a maximum of five years.

[element-for-review-cta id=1488 text=”Fast and affordable finance to help your business. Quick application, dedicated account manager and fast decision”]


Although Funding Circle doesn’t post business requirements publicly on its site, it states you need to provide:

  • personal tax returns,
  • business tax returns,
  • bank statements,
  • business debt information,
  • and a signed guarantor form for any person with at least 20 percent ownership of the business.

As with most competitors, Funding Circle doesn’t charge a prepayment penalty.


Funding Circle has a Great 4-Star rating from TrustPilot with over 5500 reviews. Additionally, the company’s website is straightforward, transparent, and provides helpful tools like a loan calculator to see how much potential loans would cost each month.

Regarding turnaround time, Funding Circle is somewhere in the middle in comparison to competitors. The application process takes a few minutes, and you’ll get a decision in as little as one day. However, funds take at least five days to reach your account.

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Online Business Loans – Final Thoughts

Fortunately, most of these online business loan platforms provide free quotes with a soft credit pull. Therefore, you’re able to shop around and see which terms are best for your business without having to damage your credit score. The more you talk with potential loaners, the better leverage you have when given the opportunity to negotiate.

Now that you have ample knowledge about all the best options, get out there and start talking to them today.

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By Steven Buchko

Steven has been a contributing writer for CCN, where he wrote about cryptocurrency and the blockchain industry. Steven was previously the Executive Editor at CoinCentral and is also a co-founder of Coin Clear, a mobile app that turns your daily spending habits into cryptocurrency investments. Steven is a fan of disruptive technologies who is excited about bringing the aspect of cryptocurrency into the SMB management sphere through his work at Bizit.

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