Explore a variety of loan options for nontraditional businesses.

  • Best for nontraditional businesses looking for smaller loans.
  • Pick something else if you want a quick, online process.

    $25,000

    Min. Amount

    $150,000

    Max. Amount

    Details

    Product Name Diamond Business Loans
    Min. Amount $25,000
    Max. Amount $150,000
    Loan Term 1 to 5 years
    Min. Credit Score 680
    APR 5.9%-19.99%
    Requirements 680+ personal credit score, no late payments or bankruptcies

    How much will this loan cost me?

    Diamond offers small business loans up to $150,000 with rates ranging from 5.9% to 19.99% — very competitive for a lender that works with nontraditional businesses. Like most lenders, your loan term will last anywhere from one to five years. However, there is a high 10% origination fee on every loan.

    You can use the calculator below to estimate your monthly payments with Diamond Business Loans.

    Business loan calculator

    See how much you’ll pay

    Your loan
    Loan amount
    $
    Loan terms (in years)
    Interest rate
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    Fill out the form and click on “Calculate” to see your estimated monthly payment.

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    How it works

    While you only need to submit a copy of your credit report to qualify for preapproval, Diamond Business Loan determines your rate based on factors like your credit score, income and your loan term. If you only meet the minimum credit score requirements, your business may only qualify for the maximum APR and a smaller loan. If you exceed them — or have a high revenue — you may be eligible for Diamond’s lowest APR.

    Cannabis funding

    Businesses in the cannabis industry, from startup growers to established dispensaries, may be eligible for funding from Diamond Business Loans despite the shaky legal status in different states. You can get an idea of the rates you might qualify for by sending over a copy of your personal credit report — a service many other lenders that work with nontraditional businesses aren’t always able to provide.

    You can also learn more about how to get funding for a business that works with cannabis to see what other options are available.

    What do I need to qualify?

    For your business to qualify for funding through Diamond Business Loans, you must meet these requirements:

    • At least a 680 personal credit score
    • No late payments listed on credit report
    • No past bankruptcies

    What information do I need to apply?

    Once you fill out Diamond Business Loans’ contact form, you will need to submit a full copy of your personal credit report. From here, Diamond Business Loans will determine if you’re eligible and may request other documents, like your business tax returns or business plan, to finalize your application.

    What industries does Diamond Business Loans work with?

    Diamond Business Loans works with businesses in a variety of nontraditional industries, including businesses involved in cannabis and adult entertainment. While it doesn’t have a set list, you can contact a representative to ensure your business falls within Diamond’s scope.

    What other types of financing does Diamond Business Loans offer?

    Diamond Business Loans offers a variety of financing options for businesses, including:

    Secured or unsecured? Purpose
    Startup loans
    Unsecured
    Funding a new businesses with limited revenue
    SBA 7(a) loans
    Unsecured
    Borrowing at a lower rate through a government-backed program
    Commercial real estate loans
    Secured
    Buying or refinancing property for your business
    Equipment leasing and financing
    Secured
    Funding equipment on a short-term or long-term basis
    Accounts receivable financing
    Secured
    Also known as invoice factoring — selling unpaid invoices for more flexible cash flow
    Debt restructuring and refinancing
    Unsecured
    Switching from daily repayments to weekly or monthly repayments
    Business acquisition financing
    Not stated
    Buying a business or funding a franchise
    Merchant cash advances
    Unsecured
    Covering gaps in cash flow on a short-term basis

    Exact loan amounts, terms and collateral requirements will depend on your business needs.

    Pros

    • Cannabis and startup friendly
    • Preapproval process only requires credit report
    • Personal application process

    Cons

    • High 10% origination fee
    • No online application
    • Funding may take up to two weeks

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