If you are a small business owner, you may have quite often felt the need for a loan to improve your cash flow and buy inventory, equipment, or payroll. Small business loans are cheaper and easier to get. Lenders offer multiple types of small business loans, including 7(a) loans from Small Business Administration, microloans, real estate, and equipment loans, cash advances, lines of credit, professional practice loans, franchise start-up loans, invoices factoring, and disaster loans.

Top small business loans
Before deciding on a loan company, compare rates, fees, lender ratings, company’s credentials, and financial standing of multiple small business loan companies. You can look for a small business loan company based on the loan amount limits, your credit score, collateral requirements, time taken for loan funding, and their repayment terms. Small business loans are given by Small Business Administration, conventional banks, and alternate lenders. Some of the top small business loans are as follows:

• SmartBiz
  SmartBiz provides affordable, low-cost 7(a) Small Business Administration loans. The US Small Business Administration guarantees these loans. To qualify for a SmartBiz loan, you have to show evidence of a strong financial position for you and your business. You must attach tax returns for the last three years and require a business lien and guarantee. SmartiBiz requires a minimum credit score of 650, $50,000 in annual revenue. They offer loans up to $350,000 at varying APR based on the purpose of the loan. SmartBiz loans are ideal for business expansion, debt refinancing, real estate purchase. If you anticipate an expanse in the coming weeks, let them know in advance, as it may take several weeks for you to receive the funds from them.
• Kabbage
  Kabbage is a go-to company for small business loans. It only offers a line of credit of $1,000 to $150,000. You can apply through an automated app that requires linking the app with your bank account. If you have been in business for a year and earn $50,000 yearly, you qualify for their loan. You also need a minimum credit score of 640. You can get the funds within three days. Once Kabbage approves your loan, you can access it through your bank account, bank card, or PayPal. It offers repayment terms of six and twelve months. There is no interest, but you have to pay a monthly fee ranging from 0.25% – to 3.5%. There are no other loan fees or penalties. Though the rates are high, if you need a quick loan, you can choose Kabbage.
• OnDeck
  OnDeck is ideal if you urgently need funds as they offer same-day funding of your loan. Their loan limit is $250,000 for small business loans and $100,000 for a line of credit. You require a credit score of 600, one year in business, and a minimum of $100,000 annual business revenue. Repayment for a business loan is up to 24 months and 12 months for a line of credit.
• Kiva
  If you are looking for small loans up to $15,000 with repayment terms of up to 36 months, you can consider Kiva. It takes up to 30 days for you to receive the funding. They charge 0%. Kiva focuses on the disadvantaged entrepreneur and small businesses to establish themselves. A US citizen over 18 can qualify for this loan and use the funds only for business purposes.
• Fundbox
  Fundbox offers a line of credit, and you can prequalify for the loan without a hard credit check. Their expertise allows them to decide and approve your loan quickly, and you can receive funds the next day. You can borrow only the exact amount you need instead of a lump sum. Fundbox provides a line of credit up to $100,000. They debit the costs in advance from your bank account and transfer the balance line of credit to your account. You can choose repayment terms over 12 or 24 weeks.