Banks offer high amount business loans but require collateral, and in some cases, a cosigner. Banks offer high amount business loans, low-interest rates, and great terms. Unfortunately, the application process is not short. In most cases, you can’t expect to get your loan in less than a month.

Credit unions loans are like bank loans. The difference is that credit unions are more flexible. They have lower credit requirements. Instead of relying on your credit score, credit unions try to evaluate your ability to pay the loan.

SBA loans are small-business loans guaranteed by the SBA and issued by participating lenders, mostly banks.

SBA loans are the cheapest business loans.

The SBA can guarantee up to 85% of $150,000 or fewer loans and 75% of loans of more than $150,000. According to the agency's lending statistics, the average 7(a) loan amount was about $425,500 in February 2025.

The program’s maximum loan amount is $5 million.

SBA loans are provided but banks or online lenders. On their official site, you can find a matching tool that will help you find the best option for you.

A business line of credit gives access to a pool of funds to draw from when you need capital. Unlike a traditional business loan, you have the flexibility to borrow up to a set amount (typically anywhere from $50,000 to $500,000), repaying only the amount you withdraw with interest. Draw on your small business line of credit to handle cash flow gaps, get more working capital, or address almost any other emergency or opportunity.

Getting a business loan is not a fast procedure. We at ElitePersonalFinance understand this problem. That’s why we created a list of business lenders that will fund you more quickly.