Personal Loan Alternatives for Business
Ideal for business owners who require flexible capital without business documentation requirements.
How It Works
Personal loan funding gives access to capital based mainly on your personal credit profile rather than business performance. This is perfect for newer businesses or when you need funds fast without extensive business documentation. There is a 0% promotional interest period that allows you to access capital with no interest charges for a limited time. After the promotional period, competitive rates apply based on your creditworthiness.
Best Use Cases
Take advantage of 0% period: Finance large purchases interest-free during promotional period
Personal needs: Take care of personal expenses while growing your business
Working capital: Bridge cash flow gaps or fund growth initiatives
Debt consolidation: Consolidate high-interest business debts into one payment
Business startup costs: Start your business without established business credit
Equipment or inventory: Purchase assets without collateral requirements
Key Features
Funding Speed
Fast approval process. Funding typically within 1-5 business days after approval.
Interest Rates
APR typically ranges from 6% to 29% based on creditworthiness after the promotional period.
Loan Amounts
Up to $250,000 depending on income, personal credit, and debt-to-income ratio.
Repayment Terms
Fixed monthly payments over 12 to 84 months, depending on loan amount and lender.
Documentation
Minimal documentation required. No business financials or tax returns needed in most cases.
Promotional Period
0% interest for the promotional period. Length varies based on credit profile and loan amount.
Qualification Requirements
Minimum Criteria
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U.S. citizen or permanent resident
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Personal credit score of 660+ (700+ for better rates)
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Debt-to-income ratio under 45%
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Verifiable income (Business income, 1099, or W-2)
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No recent bankruptcies or major delinquencies
Documentation Needed
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Government-issued photo ID
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Bank account information
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Social Security Number
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Proof of income (tax returns, pay stubs, or bank statements)
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Proof of address
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No collateral required (unsecured)
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Fixed approval and funding
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0% promotional interest period
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No business documentation required
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Flexible use of funds
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Fixed monthly payments
Advantages
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Personal liability for repayment
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Relies on personal credit score
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Possibly impact personal credit utilization
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Lower limits than business loans for some
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Origination fee may apply
Disadvantages
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We help entrepreneurs unlock the growth their business deserves with our flexible funding.