Get business financing — direct or through a partner lender — for short- and long-term needs.

Business loans can be a way to expand your small business or lift it over a financial hump. They can also help cover costs that you can’t afford to pay all at once.

$5,000

Min. Amount

$500,000

Max. Amount

Details

Product Name The Business Backer Business Loans
Min. Amount $5,000
Max. Amount $500,000
Loan Term 18 months to 25 years
Min. Credit Score 550
APR As low as 5%
Requirements Be in business 1+ years, annual revenue of $150,000+, personal credit score of 550+

Application Criteria

  • Be in business 1+ years
  • Have annual revenue of $150,000+
  • Have a personal credit score of 550

First, do I qualify?

To qualify for a loan with the Business Backer, general businesses need to meet minimal requirements:

  • Your business must be at least a year old.
  • Your business must generate at least $150,000 in annual revenue.
  • Your credit score must be at least 550.

If your business is a startup, you’ll need to meet two qualifications:

  • Your business must be at least six months old.
  • Your personal credit score must be at least 700.

What is The Business Backer?

The Business Backer is an online lender and financial matching service offering:

  • SBA loans. These low-interest, government-backed term loans are designed to help out small businesses that have trouble finding financing. SBA loan amounts are typically higher than other business options.
    • Up to $5 million
  • Business lines of credit. This more flexible loan option allows for access to funding that you can withdraw from as needed to cover unexpected expenses. You pay interest on what you draw through weekly or monthly repayments.
    • Up to $100,000
  • Long-term loans. A lump sum loan you pay back with interest over a period of up to five years. Great for hiring new staff, moving to a new space and refinancing older debt.
    • Up to $500,000
  • Short-term loans. Funding you get upfront and pay back with interest in up to 18 months. It’s quick funding designed for immediate expenses like payroll or large unexpected costs.
    • Up to $200,000
  • Merchant cash advance. An advance on future revenue that you pay off by giving your lender a percentage of your sales. Used to fund short-term projects and most small business expenses.
    • Up to $300,000
  • Commercial real estate financing. Both short- and long-term loans designed to cover the cost of buying new real estate.
    • Up to $75 million
  • Invoice factoring. Sell your unpaid invoices to a third party for a fee or percentage of your invoices’ value.
    • Up to $250,000
  • Startup loans. Fixed term loans with relaxed eligibility requirements for businesses that have been around for less than one year.
    • Up to $200,000

What makes a Business Backer business loan unique?

The Business Backer provides quick hassle-free funding to borrowers that might not find approval for more traditional financing at a bank or credit union. This online lender primarily caters to small and midsize businesses, but it offers a few options specifically for startups.

What sets it apart from competitors is that it’s both a direct lender and a loan marketplace. So if it can’t help your business on its own, it can try matching you with a lender in its network.

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