Small businesses often require financial assistance to stay in the game and pursue their growth opportunities. One of the most popular financial solutions available to them is a $50k loan.
However, not all lenders are created equal, and navigating through the different options can be overwhelming. That’s why we’ve compiled a list of the top lenders for small business $50k loans. We’ll compare their rates and help you find the best deal for your needs.
1. Lendio
Lendio is a marketplace connecting small businesses with over 75 lenders. By filling out a single application, you’ll be matched with the best financing options for your business, including $50k loans. Lendio’s lenders offer competitive rates, with APRs ranging from 6% to 36%.
2. BlueVine
BlueVine offers a variety of financing solutions, including invoice factoring, lines of credit, and term loans. Their term loans range from $5k to $250k, making their $50k loans a great option for small businesses. BlueVine’s APRs start at 4.8%.
3. Fundbox
Fundbox provides lines of credit up to $150k, making their $50k loans a feasible option for many small businesses. Their APRs range from 10.1% to 79.8%. Additionally, Fundbox doesn’t require a minimum credit score and has a quick and straightforward application process.
4. Kabbage
Kabbage offers lines of credit up to $250k and has been recognized by Inc. as one of the best places to work. Their APRs range from 20% to 80%. Furthermore, Kabbage doesn’t require a minimum credit score, but they do require at least one year of business operations.
5. OnDeck
OnDeck offers term loans up to $500k, with APRs ranging from 35.2% to 99.7%. While their rates may be higher than some other lenders on this list, they guarantee fast funding, with approval and funds in your account within 24 hours.
In conclusion, there are several lenders available for small business $50k loans. Each lender has its unique features, rates, and eligibility requirements, so it’s essential to evaluate them based on your business’s specific needs. Use our guide to compare rates and find the best deal for your business.
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