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

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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