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Traditional banks don't generally make loans for less than $25,000.  There are however other options.  Which is best for you is going to depend on your personal credit score, time in business, and business revenues.

Here's what you need to know:

Credit Cards:

If your personal credit score is above 700 then surprisingly credit cards are likely going to be your cheapest source of financing for amounts less than $25K.

We recommend checking out our review of the best small business credit cards. 0% APR, cash back, travel rewards, introductory bonus offers - find the perfect card for your business.

Kabbage

If you've been in business for more than 1 year, are doing more than $3500 a month in revenues, and have a credit score above 550, we recommend applying to Kabbage.

Kabbage offers a line of credit that works like a credit card, but has less stringent personal credit score requirements than most credit card companies.

Fundbox

If you send out invoices to other Business or Government clients, Fundbox will give you money today for invoices that are due in 30, 60, or 90 days.  

Learn more at Fundbox.com.

Have questions? Email us at info@fitsmallbusiness.com.

 

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