Best Small Business Loans


Quick and Easy. These are the best small business loan offers for October 2018.

Apply Nowon Upgrade’s Secure Site
  • Loan Amounts$1k – $50k
  • Origination Fee1% to 6%
  • APR Range6.99% – 35.97%
  • Funding Time1 day after accepting loan offer
  • Credit Score Needed 640
  • Credit ImpactChecking your rate won’t impact your credit score


  • Click “Apply Now” to apply on Upgrade’s website
  • No prepayment penalties
  • 3 to 5 year repayment terms
  • Very easy application process, takes less than 5 minutes
  • Low fixed rates from a highly reputable online lender
  • Funds are sent directly to your bank account via ACH transfer
  • No obligation to take funds, no harm in applying and checking your APR

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APPLY NOWon SoFi’s Secure Site
  • Loan Amounts$5k – $100k
  • Origination FeeNone
  • APR Range6.99% – 14.99%
  • Funding Time7 days on average
  • Credit Score Needed640
  • Credit ImpactNo impact to your credit score for applying


  • Click “APPLY NOW” to apply on SoFi’s website
  • No origination fees, no prepayment penalties
  • 3, 4, 5, 6, or 7 year repayment terms
  • Personal loans can be used for a variety of reasons, like paying off credit card debt and investing in home improvements
  • Get a 0.125% rate discount on an additional SoFi loan—just for being a member
  • If you lose your job, SoFi will temporarily pause your payments and help you find a new job
  • Get pre-qualified online with no hidden fees and no obligation

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APPLY NOWon Prosper’s Secure Site
  • Loan Amounts$2k – $40k
  • Origination Fee$2.4% – 5%
  • APR Range6.95% – 35.99%
  • Funding TimeTypically 5 days after approval
  • Credit Score Needed640
  • Credit ImpactYes


  • Click “Apply Now” to apply on Prpsper’s website
  • Save money with no prepayment penalties
  • Prosper has been in business 12+ years with over $13 billion in funded loans
  • Flexible repayments terms of 3 to 5 years
  • No rate hike or payment increases
  • Simple, easy to understand loan terms
  • Over 840,000 satisfied clients have used Prosper

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Apply Nowon Best Egg’s Secure Site
  • Loan Amounts$2k – $35k
  • Origination Fee0.99% – 5.99%
  • APR Range5.99% – 29.99%
  • Funding TimeAs little as one day
  • Credit Score Needed640
  • Credit ImpactNo impact to your credit score for applying


  • Click “APPLY NOW” to apply on Best Egg’s website
  • No prepayment penalties
  • APRs as low as 4.99% could save you thousands compared to credit card rates
  • Personal loans can be used for a many purposes. See Best Egg’s site to learn more
  • Apply online and have funds deposited into your account in as little as one day.
  • Best Egg’s self-service and easy-to-use tools are available 24/7
  • Get pre-qualified online with no credit impact

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Typical Personal Loan Process

Finding Your Rate

In order to find your personal loan rate, you’ll need to submit some basic information about yourself.

What You’ll Need

You’ll probably have to answer questions about your income and what you’ll use your loan funds for.

Getting Your Funds

The best part about online loans is that funds are directly deposited into your checking account, typically in 1 day.

What Are Personal Loans?

Personal loans are loans, often called “unsecured personal loans,” are loans that are issued to individuals based on their creditworthiness. One of the best things about personal loans is that there is no collateral involved. You don’t have to use your house, car, or any other asset to receive a personal loan.

We spent 200+ hours searching for the best personal loans of 2018, because not all personal loans are made equal. Many shady online lenders have high variable rates and lots of hidden fees. None of the lenders on this page have hidden fees, and all are highly rated and respected.

What Can I use Personal Loans For?

Personal loans can be used for almost anything! Some of the most popular uses include:

  • Credit card debt consolidation
  • Home improvements and renovations
  • Pay for a wedding
  • New boat, RV, or other item that typically doesn’t have financing
  • Medical bills

According to research by Finder, roughly 83.5 million Americans have personal loans, with the most common use being credit card debt consolidation. Typically, credit cards can have APRs above 35%. Personal loans, on the other hand, typically have APRs around 7% to 30%.

Many Americans would rather pay 7% annually to borrow money, and use this borrowed money to pay off their higher interest debts, like credit cards.

Personal Loan Myths

One of the most common misconceptions about personal loans is that they somehow negatively effect your credit score.

For most cases, this is not true. There’s often no impact on your personal credit score to see if you qualify for a personal loan. And once you receive your personal loan funds, and you begin to make timely monthly repayments, your credit score can actually improve.

The only way a loan can harm your credit score is if you fail to make your payments.

What is Options Bro? is an online financial information site dedicated to providing simple tutorials, reviews, and comparisons on all things finance.

Collectively, we’ve spent thousands of hours examining the most popular financial products and tools. Bottom line, we simplify and explain the myriad of consumer financial options available today, so you can make decisions with ease.

Updated: October 17, 2018

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