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Best Loans to Consolidate Your Business Debt

Consolidating business debt with a lower-interest business loan can boost your cash flow by lowering your monthly payment and shortening your repayment period.
Written by Jackie Zimmermann
Edited by Kimberly Lowe
Last updated on September 20, 2021

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Financially-savvy small-business owners looking to free up some extra cash could consider refinancing or consolidating loans that have high interest rates.
Refinancing or consolidating could lower your monthly payments and help you grow your business. Established businesses with strong finances typically qualify for the lowest rates with long repayment periods, but you also have options with online business lenders.

How much do you need?

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Here are 2 options for you

Lender
Max loan amount
Min. credit score
Next steps

Funding Circle - Online term loan

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$500,000660

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Credibility Capital - Online term loan

with Fundera by NerdWallet

$500,000650

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Read Review

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Funding Circle - Online term loan

Read Review

with Fundera by NerdWallet

Max Loan Amount

$500,000

Min. Credit Score

660

Est. APR

10.13-36.00%

Depending on your creditworthiness and your business's financials

Funding Circle is an option for established businesses that are financing an expansion or refinancing debt.
May fund quickly
Read Review

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Credibility Capital - Online term loan

Read Review

with Fundera by NerdWallet

Max Loan Amount

$500,000

Min. Credit Score

650

Est. APR

6.99-24.99%

Depending on your creditworthiness and your business's financials

Credibility Capital offers low-cost business loans that work best for small-business owners with strong credit.

How Much Do You Need?

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What is business debt consolidation?

With business debt consolidation, you combine several loans or merchant cash advances into one loan — ideally with a lower interest rate that could result in lower payments and a shorter repayment period.
Business debt consolidation is sometimes confused with debt refinancing, which means you take out a lower-interest loan and use it to pay off the original, thereby saving money.

Business debt consolidation options

SBA loans, which are backed by the U.S. Small Business Administration, offer the best terms, including low interest rates and flexible repayment. To qualify, you typically need to be an established business with solid revenue and have a good credit score.
You can also turn to banks to qualify for traditional business loans to consolidate your debt. Bank loans can also have competitive rates and terms depending on your business and personal finances.
Besides banks, you can turn to online lenders for business debt consolidation and refinancing. Online lenders often have less stringent requirements than traditional banks.

Find and compare small-business loans

NerdWallet has created a list of the best small-business loans to meet your needs and goals. We gauged lender trustworthiness, market scope and user experience, among other factors, and arranged the lenders by categories that include your revenue and how long you’ve been in business.
Last updated on September 20, 2021

To recap our selections...

Best Loans to Consolidate Your Business Debt