Typical
use
of Funds
Working Capital, Expansion, Refinancing, Buying a Business
Working Capital
Equipment
Working Capital
Working Capital
Starting a New
Business or
Buying a Business
Amount You
Can Borrow
$5k to
$5 Million+
$2k to $500K
$5k to
$5 Million+
$100 to $250k
$2k to $500k
As much as you have in your retirement account
Minimum
FICO Score
660+
500+
500+
550+
500+
Not
Applicable
Average
Cost
6-9 % APR
10-80 % APR
(P2P lenders are cheaper than alternative lenders)
5-20 % APR
30-60 % APR
30-100+ % APR
$5000 initial fee + $100/month ongoing
Time to Get
Funds
1-3 months
1-2 weeks
1 month
1-2 weeks
1-2 weeks
3-4 weeks
Required
Age of
Bussiness
2+ years
1+ years
(startups eligible in some cases)
Startups ok
6 months +
Startups ok
Startups ok
Collateral
Needed?
Yes
No
Yes
(equipment is the collateral)
No
No
No
Time to
Repay
5-25 Years
1 month-5 years
2-5 years
1 week-3 months
4-12 months
Not applicable
Where You
Can Apply
