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Funding Type Comparison
Compare business funding options side by side. See rates, terms, requirements, and pros/cons to find the best fit for your business.
Compare (select 2-4):
SBA 7(a) Government-backed business loans with favorable terms | Term Loan Traditional lump-sum loan with fixed repayment schedule | MCA Advance on future sales with daily/weekly repayment | |
|---|---|---|---|
Overview | |||
| Typical APR | 10-13% | 12-25% | 40-150% |
| Amount Range | $5K - $5M | $25K - $500K | $5K - $500K |
| Term Length | 5-25 years | 1-5 years | 3-18 months |
| Time to Fund | 30-90 days | 3-14 days | 1-3 days |
| Payment Frequency | Monthly | Monthly/Weekly | Daily/Weekly |
Requirements | |||
| Min Credit Score | 650+ | 600+ | 500+ |
| Min Revenue | $100K+/year | $100K+/year | $10K+/month |
| Time in Business | 2+ years | 1+ year | 6+ months |
| Collateral Required | |||
| Personal Guarantee | |||
Cost Factors | |||
| Rate Range | Prime + 2.25% - 2.75% | 7% - 30% | 1.1 - 1.5 factor rate |
| Early Payoff Savings | |||
Best For / Not Ideal For | |||
Yes
No
Sometimes / Varies