A small business loan is a loan provided to a small business for a variety of purposes. Small business loans typically come from banks, online loan providers, as well as not-for-profit loan providers. The amount of money that can be borrowed, the interest rate, as well as the repayment term can all vary greatly between providers.
Yes, there are small business loans available for people with bad credit, however, the options are more limited, the approval process may be more challenging, and you will likely pay higher interest rates. Small businesses with bad credit may have more luck with alternative online lenders than traditional bank lenders.
There is relief available for small businesses during COVID-19. For up-to-date information on COVID-19 relief programs available for small businesses check out the SBA website.


A small business loan can be a great option for those needing access to working capital to hire new talent, purchase inventory, or expand your business. There are a ton of lending options available to suit the needs of your small business.

From micro-loans to help the solopreneur turn their awesome idea into an actual business, to multi-million dollar lending options to help established businesses expand to the next level. However, not all loans are created equally. It’s important that you do your research, compare lenders on a variety of criteria, and choose the lending option that will truly benefit the needs of your small businesses so you can continue to grow and succeed. 

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Jessica Martel is a freelance writer, professional researcher, and mother of two rambunctious little boys. She’s interested in all things related to personal finance, psychology, and parenting. You can connect with Jessica on her website The Financial Graduate, Linkedin, or Twitter.