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Best Small-Business Loans for Women with Bad Credit

Women business owners with bad personal credit may still qualify for financing through online lenders, but rates can be high.
Written by Jackie Zimmermann
Edited by Hanah Cho
Last updated on March 31, 2021

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Like any small-business owner, the business financing options available to women entrepreneurs include Small Business Administration 7(a) loans and online lenders. If your personal credit score is bad (300 to 629 FICO), you may have fewer options — and you'll likely pay higher rates — but securing a small-business loan is still possible.
Online lenders are a good place to begin your search for financing. You can also consider microloans and small-business grants for women.

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 4 options for you

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Lender
Best for
Max loan amount
Min. credit score
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Fundbox - Line of credit

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Best for Business owners with a credit score of less than 500$150,000600

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OnDeck - Online term loan

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Best for Business owners with a credit score of 600 to 650$250,000600

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OnDeck - Line of credit

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Best for Business owners with a credit score of 600 to 650$100,000600

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Bluevine - Line of credit

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Best for Business owners with a credit score of 600 to 650$250,000600

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Our pick for

Business owners with a credit score of less than 500

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Fundbox - Line of credit

Read Review

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Max Loan Amount

$150,000

Min. Credit Score

600

Est. APR

10.10-79.80%

Depending on your creditworthiness and your business's financials

Fundbox offers a business line of credit to fill a cash-flow gap, and qualifying is easier than with other lenders.
May fund quickly

Our picks for

Business owners with a credit score of 600 to 650

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OnDeck - Online term loan

Read Review

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Max Loan Amount

$250,000

Min. Credit Score

600

Est. APR

9.00-99.00%

Depending on your creditworthiness and your business's financials

OnDeck offers a fast term loan for small-business owners with less-than-stellar credit who want to expand.
May fund quickly
Read Review

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OnDeck - Line of credit

Read Review

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Max Loan Amount

$100,000

Min. Credit Score

600

Est. APR

11.00-61.90%

Depending on your creditworthiness and your business's financials

OnDeck offers a fast line of credit for small-business owners with less-than-stellar credit who need to manage cash flow or buy inventory.
May fund quickly
Read Review

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Bluevine - Line of credit

Read Review

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Max Loan Amount

$250,000

Min. Credit Score

600

Est. APR

15.00-78.00%

Depending on your creditworthiness and your business's financials

Bluevine's line of credit provides fast working capital for short-term borrowing needs.
May fund quickly

How Much Do You Need?

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If you own a startup

Startups face unique challenges, since many lenders won't extend credit to new companies that don’t have a track record. However, there are other sources of startup funding, such as microloans, nonprofit lenders and personal business loans, that can help you get going.

If your personal credit score is less than 500

Loans for borrowers with bad credit can be expensive and should only be considered if you need cash right away and don’t have time to build your credit before applying for loans.
It's also worth checking to see if you’re eligible for federal, state or local small-business grants for women.
  • Line of credit: Fundbox doesn’t require a minimum credit score; however, you'll need annual revenue of at least $100,000 and six months in business to meet its minimum qualifications.

If your personal credit score is 500 to 600

Invoice factoring: For outstanding invoices, Bluevine offers invoice factoring loans from $20,000 to $5 million. It requires a minimum credit score of 530 to qualify.

If your personal credit score is between 600 and 650

Term loan and line of credit: OnDeck requires a minimum credit score of 600 to qualify, although its typical borrower has a score between 680 to 720.
Line of credit: Bluevine requires a minimum credit score of 650 for its business line of credit.

Find and compare the best small-business loans

To help you compare small-business loan options, NerdWallet has compiled a list of loans to help meet business owners’ needs. We’ve gauged them on trustworthiness, market scope and user experience, and sorted them into categories based on revenue and the length of time you’ve been in business.
Last updated on March 31, 2021

To recap our selections...

Best Small-Business Loans for Women with Bad Credit