Running a small business is no small feat. Whether you’re launching a startup or scaling an established venture, securing the right financing can make or break your growth. Traditional banks often come with rigid requirements and lengthy approval processes, leaving many entrepreneurs searching for faster, more flexible options.
That’s where Non-Banking Financial Companies (NBFCs) step in, offering tailored solutions for small businesses with diverse needs. In this post, I’ll guide you through the top NBFCs for small business loans in 2025, helping you find the perfect fit for your financial goals.
Why Choose NBFCs for Small Business Loans?
NBFCs are a game-changer for small business owners. Unlike traditional banks, which often demand years of business history and stellar credit scores, NBFCs provide quicker approvals, flexible terms, and solutions for businesses at various stages.
Whether you need working capital, equipment financing, or funds to cover unexpected expenses, NBFCs cater to startups and established firms alike, often with less stringent eligibility criteria. According to a British Business Bank survey, only 27% of small businesses secure bank loans, pushing many toward NBFCs for accessible funding.
Top NBFCs for Small Business Loans
1. Fora Financial: Fast Funding for Startups
Fora Financial stands out for its speed and flexibility, making it ideal for startups and businesses with less-than-perfect credit. With a minimum requirement of six months in business and a personal FICO score of 570 or higher, Fora offers small business loans and merchant cash advances (MCAs) with terms up to 15 months.
The application process is streamlined, requiring just a one-page application and three months of credit card statements. Funds can hit your account in as little as 72 hours, and early payment discounts sweeten the deal.
2. Accion Opportunity Fund: Empowering Underserved Communities
Accion Opportunity Fund is a nonprofit NBFC focused on supporting women, minority-owned, and low-to-moderate-income businesses. Offering loans from $5,000 to $350,000, Accion tailors terms to your needs with no prepayment penalties.
You’ll need at least 12 months in business and $50,000 in annual sales. Their application takes about 15 minutes, and they provide coaching and support networks to help your business thrive. This is a great choice if you’re seeking affordable rates and personalized guidance.
3. LendingClub: Peer-to-Peer Flexibility
LendingClub operates as a peer-to-peer (P2P) lender, connecting small businesses with individual investors for faster funding. With a minimum credit score of 580 and $50,000 in annual revenue, LendingClub is accessible to newer businesses.
Their online application process is quick, and they don’t have the strict requirements of traditional banks. This makes them a solid option for businesses needing capital without jumping through banking hoops.
4. Bluevine: High Credit Limits and Quick Turnaround
Bluevine is a fintech NBFC known for its rapid funding and high credit line limits. Ideal for businesses with at least six months of operation and $10,000 in monthly revenue, Bluevine offers lines of credit and term loans with a minimum credit score of 500.
Their online application is seamless, and funds can be available the same day. Bluevine’s partnership with Coastal Community Bank ensures FDIC-backed security, making it a reliable choice for growing businesses.
5. Biz2Credit: Matching You with the Right Loan
Biz2Credit is a lending platform that connects small businesses with tailored financing options, including term loans and revenue-based financing up to $6 million. With a minimum requirement of $250,000 in annual revenue, Biz2Credit is suited for established businesses.
Their quick online application process and ability to match you with curated lenders make them a versatile choice for complex funding needs.
Comparing NBFCs: Key Specifications
| NBFC | Key Specifications |
|---|---|
| Fora Financial | Min. 6 months in business, 570+ credit score, funds in 72 hours, early payment discounts |
| Accion Opportunity | Min. 12 months in business, $50,000 annual sales, no prepayment penalties, coaching |
| LendingClub | Min. 580 credit score, $50,000 revenue, P2P lending, fast online application |
| Bluevine | Min. 6 months in business, $10,000 monthly revenue, same-day funding, FDIC-backed |
| Biz2Credit | Min. $250,000 annual revenue, up to $6M financing, quick application, curated lenders |
What to Consider When Choosing an NBFC
Selecting the right NBFC for your small business loan depends on your unique needs. Here are key factors to keep in mind:
- Eligibility Requirements: NBFCs like Bluevine and LendingClub accept lower credit scores (500–580), while Biz2Credit targets businesses with higher revenue. Check if you meet the minimum criteria for credit score, time in business, and revenue.
- Funding Speed: If you need cash urgently, Fora Financial and Bluevine offer funds in as little as 72 hours or same-day, respectively. Accion may take longer but provides tailored terms.
- Loan Terms and Costs: NBFCs often charge higher interest rates than banks to offset risk. Compare APRs, fees, and repayment terms to ensure they align with your cash flow. For example, Accion’s competitive rates make it a cost-effective choice for eligible businesses.
- Additional Services: Some NBFCs, like Accion, offer coaching and support, while others, like Biz2Credit, provide access to a network of lenders. Consider what value-added services matter to you.
- Customer Support: Look for NBFCs with strong customer service. Reviews suggest that Bluevine and LendingClub excel in responsiveness, ensuring a smoother loan process.
Tips for a Successful NBFC Loan Application
- Prepare Your Documents: Most NBFCs require bank statements, tax returns, and proof of revenue. Having these ready speeds up the process.
- Check Your Credit: A higher personal or business credit score can unlock better terms. Use free tools from providers like Bank of America to monitor your score.
- Understand Your Needs: Calculate how much funding you need and how you’ll use it. A clear business plan reassures lenders, as noted by the FDIC.
- Compare Multiple Options: Don’t settle for the first offer. Platforms like Biz2Credit can help you compare lenders to find the best fit.
- Avoid Predatory Lenders: Watch for red flags like high fees or unclear terms. The SBA advises surveying competing offers and consulting a financial advisor before signing.
Why NBFCs Are a Smart Choice in 2025
The small business lending landscape is evolving, with NBFCs filling the gap left by traditional banks. According to the U.S. Chamber of Commerce, NBFCs offer flexible terms and faster funding, making them ideal for startups or businesses with limited credit history.
While interest rates may be higher, the trade-off is accessibility and speed—critical for seizing growth opportunities. Whether you’re a new entrepreneur or a seasoned business owner, NBFCs provide the financial flexibility to keep your operations running smoothly.