Personal Loan vs Business Loan - Which is Right for Your Business?
May 20, 2025
How to Qualify for a Small Business Loan in 6 Steps
May 20, 2025
Business Loan Options for Women-Owned Businesses
May 18, 2025
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Loan Type
Business Loan
Monthly Revenue
$20K-$30K
Time In Business
2 or more years
Credit Score
Good (690-719)
1
Fast Turnaround
9.0
ExcellentBestMoneyscore
Popularity
Based on visits in the past 7 days
9.0
Brand Reputation
Based on web trends
9.3
Biz2Credit
Fast business funding solutions
Apply online in minutes
Fast approval and funding for revenue-based financing
Increased chance of approval for businesses with annual revenue above $250K
507 businessesvisited this site today
15,381Reviews
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Loan Amount
$50K - $2M
Time In Business
12+ months
Monthly Revenue
$10K+
Min. Credit Score
650
2
9.2
ExcellentBestMoneyscore
Popularity
Based on visits in the past 7 days
8.5
Brand Reputation
Based on web trends
10.0
SoFi Business Loans Marketplace
Find small business funding in 3 easy steps
Search options with no hard credit check*
As soon as the same day funding**
9,803Reviews
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Loan Amount
$5K-$2M
Time In Business
12+ months
Monthly Revenue
$10K+
Min. Credit Score
680
3
9.6
ExceptionalBestMoneyscore
Popularity
Based on visits in the past 7 days
10.0
Brand Reputation
Based on web trends
9.4
Fundera
Easy and fast business loan options
Get prequalified as fast as 4 minutes
Over 85K small businesses funded
999Reviews
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Loan Amount
$5K-$5M
Time In Business
1+ years
Monthly Revenue
$10K+
Min. Credit Score
580
4
8.8
GreatBestMoneyscore
Popularity
Based on visits in the past 7 days
8.7
Brand Reputation
Based on web trends
8.8
Lendzi
Compare lending options and get funded fast
Funding in as little as 24 hours
Apply online in minutes & choose your loan option
1,320Reviews
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Loan Amount
$10K-$5M
Time In Business
18+ months
Monthly Revenue
At least $12K
Min. Credit Score
600
5
8.6
GreatBestMoneyscore
Popularity
Based on visits in the past 7 days
8.3
Brand Reputation
Based on web trends
9.0
Revenued
Get a funding decision in as little as an hour
No annual fee, no draw fee, no application fee
Revolving flex line, similar to a line of credit
976Reviews
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Loan Amount
$5K-$1M
Time In Business
1+ year
Monthly Revenue
$20K+
Min. Credit Score
None
6
8.4
Very GoodBestMoneyscore
Popularity
Based on visits in the past 7 days
8.0
Brand Reputation
Based on web trends
8.6
CapFront
Offers multiple financing options
Easy application process
Get funding in as little as four hours
901Reviews
More Details:
Loan Amount
Up to $5.5M
Time In Business
12+ months
Monthly Revenue
$20K
Min. Credit Score
None
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Most Popular on BestMoney
9.0
BestMoneyscore
Popularity
Based on visits in the past 7 days
9.0
Brand Reputation
Based on web trends
9.3
Biz2Credit
Fast business funding solutions
Apply online in minutes
Fast approval and funding for revenue-based financing
Increased chance of approval for businesses with annual revenue above $250K
Minimum Credit Score: 650
Loan Amount: $50K - $2M
507 businessesvisited this site today
What are Small Business Grants?
A small business grant is a grant given to a small business by the federal government, a state government, or a private corporation. The operative word is “grant,” meaning a non-repayable sum of money. A grant is essentially a gift or award for undertaking an important project or initiative. Small business grants are highly competitive and each applicant must show why their business is more worthy of the funds than their rivals.
The Pros and Cons of Small Business Grants
| Pros | Cons |
|---|---|
| Effectively free money | Time-consuming application process |
| Prestige of being awarded a grant | Very strict requirements |
| No need to take out a risky business loan | Low odds of qualifying |
The benefits of winning a small business grant are obvious. Small business grants are essentially gifts, as opposed to small business loans which must be repaid along with interest. Winning a small business grant is akin to being offered a scholarship to a great school or free entry to an important conference. Business grants aren’t only free; they also offer prestige and an opportunity to network. Grants for small business are highly competitive and winning one is a great opportunity to get positive attention for your small business.
A small business grant could propel your small business to success, but being awarded a grant is incredibly difficult. Because business grants are so competitive, the application process can be long and tedious and the requirements are often very strict. It’s quite common for hundreds or even thousands of businesses to apply for one small business grant. The higher the grant, the more competition. The more companies applying, the lower the odds of qualifying.
How to Find Business Grants
Small business grants can be divided into 3 categories: federal government grants for small business, state government grants for small business, and private/corporate grants for small business.
Finding a government grant is easy. Grants.gov is a database of federal small business grants offered by different agencies. The US Small Business Administration has its own grants database. Many state governments also operate websites where residents can find grant opportunities.
Finding a private or corporate grant is a little trickier, but big corporations increasingly understand the benefits of giving out grants. For some companies, funding a grant of $10,000 or even $1 million doesn’t make a big dent on their bottom line, but it does bring in a lot of benefits including good PR and close partnerships with innovative small businesses.
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 Apply Now | Apply Now | Apply Now |
Top Business Grant Options
Some grants are open to all small businesses, while others are designated for specific groups or purposes.
Here are 4 examples of small business grants:
- Women-owned business grants
There is an increasing recognition at federal and state level of the importance of getting women involved in business. That’s why many federal and state government agencies now have business grants designated for female-owned businesses. There are plenty of private grants for women too. One such grant is the Eileen Fisher Program, which gives away a total of $100,000 a year which gives gives money to women-owned businesses that are geared toward creating social and environmental change.
- Veteran business grants
Military service qualifies a person for many benefits including cheap home loans, assistance with college tuition, and small business grants. The SBA offers support for veterans as they enter the world of business ownership. It even has a program for female veterans called the Women Veteran Entrepreneurship Training Program (WVETP). There are plenty of private grants for veterans too.
- Minority small business grants
The federal government provides programs for Native American small business owners and other minorities. In the private sphere, there are plenty of business grants for minorities such as African-American business owners. The Minority Business Development Agency even has a special grant competition.
- Startup business grants
Startup is a broad term for any new business, although by a stricter definition it refers to any small business that cannot achieve its long-term vision without venture capital funding. Of course, there is an alternative to VCs: startup business grants. Business grants can help startups get off the ground without the founders having to give away all their equity. The NC IDEA Foundation, for example, gives businesses in North Carolina startup grants of up to $50,000.
Business Grants vs. Business Loans
It is generally more difficult to qualify for a business grant than for a business loan, but the potential rewards make the process worthwhile. With a business grant, the most challenging part is the application. Because grants are so competitive, the application process is usually very rigorous and is designed to sort out worthy businesses from the unworthy. The good news about a grant is that once you qualify, that’s it: you get your grant and don’t need to pay a cent (that’s why they call it a grant).
Business loan applications are also rigorous but not to the same extent as grant applications. Lenders usually ask for information and documentation pertaining to the business owner, the business itself, and the business’s revenues and activities. Getting a loan is only half the work; the other part is paying it back. Whether you take a business term loan, small business loan, SBA loan, or any other type of loan, the same rule applies: you will need to pay it back, with interest, within the specified repayment term period (or your credit score will face damage, or worse).
Disclaimers
Biz2Credit:
Applies to the Biz2Credit Term Loan. Not reflective of rates for all products. Full Terms & Conditions available at biz2credit.com.
*See website for average amounts by product.