How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Here are 7 small-business loans for women with bad credit
| Lender | NerdWallet Rating▼ | Max loan amount▼ | Min. credit score▼ | Next steps |
|---|---|---|---|---|
Fora Financial - Online term loan with Fundera by NerdWallet | 4.7/5 Best for startups | $1,500,000 | 570 | with Fundera by NerdWallet |
Giggle Finance Merchant Cash Advance with Fundera by NerdWallet | Best for self-employed women | $5,000 | 300 | with Fundera by NerdWallet |
SBA Microloan with Fundera by NerdWallet | Best for low-cost microloans | $50,000 | 620 | with Fundera by NerdWallet |
Rapid Finance - Online term loan with Fundera by NerdWallet | 4.3/5 Best for longer term loans | $1,000,000 | 550 | with Fundera by NerdWallet |
OnDeck - Online term loan with Fundera by NerdWallet | 4.8/5 Best for short-term loans | $250,000 | 625 | with Fundera by NerdWallet |
Triton Capital - Equipment financing with Fundera by NerdWallet | 4.0/5 Best for equipment loans | $250,000 | 575 | with Fundera by NerdWallet |
Accion Opportunity Fund - Small Business Working Capital Loan | 4.9/5 Best for minority women | $250,000 | 600 | Read Review |
Here are 7 small-business loans for women with bad credit
Best for startups
Best for self-employed women
Best for low-cost microloans
Best for longer term loans
Best for short-term loans
Best for equipment loans
Best for minority women
I'M INTERESTED IN:
Our pick for
startups
Fora Financial’s minimum credit score requirement is 570. Businesses may be able to qualify for a term loan offered by Fora Financial with just six months in operation, making it a good fit for startups with strong revenue.
Fora Financial - Online term loan
Max loan amount
$1,500,000
Min. credit score
570
Pros
- Cash can be available quickly.
- Get a discount for prepaying.
- No collateral required.
- Low minimum credit score requirement.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Can’t build business credit.
- Longest loan term is 18 months.
- Charges an origination fee.
Fora Financial - Online term loan
Max loan amount
$1,500,000
Min. credit score
570
Fora Financial’s minimum credit score requirement is 570. Businesses may be able to qualify for a term loan offered by Fora Financial with just six months in operation, making it a good fit for startups with strong revenue.
Fora Financial can be a good fit for borrowers who may fall short of qualifying for traditional bank financing or young but established small businesses looking for speedy financing.
Pros
- Cash can be available quickly.
- Get a discount for prepaying.
- No collateral required.
- Low minimum credit score requirement.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Can’t build business credit.
- Longest loan term is 18 months.
- Charges an origination fee.
Qualifications:
- In business for at least six months.
- At least $20,000 per month in revenue.
- No open bankruptcies or dismissed bankruptcies within the past year.
Our pick for
self-employed women
Giggle Finance offers small loans up to $5,000 that are specifically geared toward freelancers, contract workers and self-employed individuals, with no minimum credit score requirement.
Giggle Finance Merchant Cash Advance
with Fundera by NerdWallet
Max loan amount
$5,000
Min. credit score
300
Pros
- No minimum credit score requirement.
- Same-day funding available.
- Specifically designed for freelancers and self-employed individuals.
Cons
- Funding maxes out at $5,000.
- Factor rate and fee information not available on website.
- Charges an origination fee.
Giggle Finance Merchant Cash Advance
Max loan amount
$5,000
Min. credit score
300
Giggle Finance offers small loans up to $5,000 that are specifically geared toward freelancers, contract workers and self-employed individuals, with no minimum credit score requirement.
Giggle Finance provides capital to freelancers, contractors and self-employed individuals.
Pros
- No minimum credit score requirement.
- Same-day funding available.
- Specifically designed for freelancers and self-employed individuals.
Cons
- Funding maxes out at $5,000.
- Factor rate and fee information not available on website.
- Charges an origination fee.
Qualifications:
- Minimum credit score: All credit scores may be accepted (ranging from 300 to 850).
- Minimum time in business: Three months.
- Minimum annual revenue: $36,000.
Our pick for
low-cost microloans
SBA microloans are offered through nonprofit intermediary lenders who set their own credit requirements which may make them easier to qualify for. So far in fiscal year FY 2025 (which started on Oct. 1, 2024), women-owned businesses have received over $5.8 million dollars in SBA Microloans.
SBA Microloan
Max loan amount
$50,000
Min. credit score
620
Est. APR
8.00-13.00%
Pros
- Can be used for a variety of funding purposes.
- Designed to finance traditionally underserved businesses.
- Startups and business owners with bad credit may be able to qualify.
- Competitive interest rates, low fees and long repayment terms.
- Intermediaries typically offer business training and educational resources.
Cons
- Loan amounts max out at $50,000.
- Can’t be used to pay existing debt or purchase real estate.
- Collateral is likely required.
- Slow funding timeline.
SBA Microloan
Max loan amount
$50,000
Min. credit score
620
Est. APR
8.00-13.00%
SBA microloans are offered through nonprofit intermediary lenders who set their own credit requirements which may make them easier to qualify for. So far in fiscal year FY 2025 (which started on Oct. 1, 2024), women-owned businesses have received over $5.8 million dollars in SBA Microloans.
SBA microloans are small-sized loans funded by the U.S. Small Business Administration and issued through approved intermediaries, typically nonprofit and community lenders.
Pros
- Can be used for a variety of funding purposes.
- Designed to finance traditionally underserved businesses.
- Startups and business owners with bad credit may be able to qualify.
- Competitive interest rates, low fees and long repayment terms.
- Intermediaries typically offer business training and educational resources.
Cons
- Loan amounts max out at $50,000.
- Can’t be used to pay existing debt or purchase real estate.
- Collateral is likely required.
- Slow funding timeline.
Qualifications:
- Be a U.S. business.
- Show your ability to repay the loan.
- Personal guarantee and collateral likely required.
- Specific financial qualifications determined by individual lender.
Our pick for
longer term loans
Rapid Finance requires a minimum credit score of 550 for its term loans, and can offer loan terms up to five years to finance larger purchases.
Rapid Finance - Online term loan
Max loan amount
$1,000,000
Min. credit score
550
Pros
- Cash can be available quickly.
- Borrowers with low credit scores may have some options here.
- Multiple term lengths for different financing needs.
Cons
- Loans max out at $1 million.
- May require a lien.
- Longest loan term is 60 months.
Rapid Finance - Online term loan
Max loan amount
$1,000,000
Min. credit score
550
Rapid Finance requires a minimum credit score of 550 for its term loans, and can offer loan terms up to five years to finance larger purchases.
Pros
- Cash can be available quickly.
- Borrowers with low credit scores may have some options here.
- Multiple term lengths for different financing needs.
Cons
- Loans max out at $1 million.
- May require a lien.
- Longest loan term is 60 months.
Qualifications:
- Valid proof of identity
- Business bank account
- Last three months of business bank statements
Our pick for
short-term loans
If you have a credit score of at least 625 and have been in business for a year or more, OnDeck offers term loans with repayment periods of up to two years.
OnDeck - Online term loan
Max loan amount
$250,000
Min. credit score
625
Est. APR
27.20-99.90%
Pros
- Cash can be available within the same business day (does not apply in California or Vermont).
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Cannot fund North Dakota-based businesses.
- Requires frequent (daily or weekly) repayments.
- Interest rates can be high compared with traditional lenders.
- Charges origination fee.
May fund quickly
OnDeck - Online term loan
Max loan amount
$250,000
Min. credit score
625
Est. APR
27.20-99.90%
If you have a credit score of at least 625 and have been in business for a year or more, OnDeck offers term loans with repayment periods of up to two years.
OnDeck offers a fast term loan for small-business owners with less-than-stellar credit who want to expand.
Pros
- Cash can be available within the same business day (does not apply in California or Vermont).
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Cannot fund North Dakota-based businesses.
- Requires frequent (daily or weekly) repayments.
- Interest rates can be high compared with traditional lenders.
- Charges origination fee.
Qualifications:
- Minimum credit score: 625.
- Minimum time in business: 12 months.
- Minimum annual revenue: $100,000.
- Must have business bank account.
May fund quickly
Our pick for
equipment loans
For established businesses that need equipment and have a minimum credit score of 580, Triton Capital has equipment loans that can be funded within one to two business days.
Triton Capital - Equipment financing
4.0
NerdWallet rating with Fundera by NerdWallet
Max loan amount
$250,000
Min. credit score
575
Est. APR
6.50-34.99%
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
Triton Capital - Equipment financing
NerdWallet rating
4.0/5
Max loan amount
$250,000
Min. credit score
575
Est. APR
6.50-34.99%
For established businesses that need equipment and have a minimum credit score of 580, Triton Capital has equipment loans that can be funded within one to two business days.
Triton Capital offers fast equipment loans up to $250,000 for businesses in a range of industries.
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
Qualifications:
- Minimum credit score: 580.
- Minimum time in business: 24 months.
- Minimum annual revenue: $150,000.
Our pick for
minority women
Accion Opportunity Fund, a nonprofit lender that works with women, minorities and other underserved entrepreneurs, requires a minimum credit score of 600 for working capital loans.
Accion Opportunity Fund - Small Business Working Capital Loan
Max loan amount
$250,000
Min. credit score
600
Est. APR
8.49-24.99%
Pros
- Loan amounts from $5,000 to $250,000.
- Customized loan terms.
- No prepayment penalty.
Cons
- Slower processing speed compared with online lenders.
- Charges an origination fee.
- Not available in all U.S. states.
Accion Opportunity Fund - Small Business Working Capital Loan
Max loan amount
$250,000
Min. credit score
600
Est. APR
8.49-24.99%
Accion Opportunity Fund, a nonprofit lender that works with women, minorities and other underserved entrepreneurs, requires a minimum credit score of 600 for working capital loans.
Accion is a good option for businesses that haven't been able to secure traditional financing. The lender targets its funding efforts toward minority, women and low-to-moderate-income entrepreneurs.
Pros
- Loan amounts from $5,000 to $250,000.
- Customized loan terms.
- No prepayment penalty.
Cons
- Slower processing speed compared with online lenders.
- Charges an origination fee.
- Not available in all U.S. states.
Qualifications:
- Minimum credit score: 600.
- Minimum time in business: 12 months.
- Minimum annual revenue: $50,000.
A closer look at the best small-business loans for women with bad credit
Fora Financial
Best for startups
Who should consider it: New entrepreneurs who are struggling with personal credit, but have healthy business revenue.
Fora Financial is an online lender that will approve borrowers with credit scores as low as
570
; however, be careful about taking on too much debt just because you qualify. The high loan maximums and relatively short terms can put you in a bad debt cycle if your business doesn’t earn enough to cover paymentsGiggle Finance
Best for self-employed women
Who should consider it: Female entrepreneurs, freelancers or contractors who need minimal capital.
Solopreneurs or freelancers who can’t qualify for traditional financing due to personal credit and time in business may be able to use a small loan from Giggle to prove their business concept before applying for larger amounts of funding. Giggle only requires three months in business and has no minimum credit score requirement.
SBA Microloan
Best for low-cost microloans
Who should consider it: Business owners who don’t need large loan amounts.
SBA loans are guaranteed by the federal government and, therefore, offer competitive interest rates and terms; however, most SBA loans require fair to good credit. SBA microloans offer funding in smaller amounts, and have more flexible credit score requirements. If your capital needs are $50,000 or below, SBA microloans may be a fit.
Rapid Finance
Best for longer-term loans
Who should consider it: Women business owners who want to finance larger purchases.
Rapid Finance is an online lender that offers term loans that can range up to $1 million. Terms can extend up to
60
months, making it a good option for women-owned businesses that need to finance larger purchases, but are struggling to qualify for traditional financing because of personal credit. Spreading a large purchase out over a longer term typically results in lower payment amounts, which can relieve burden on cash flow. OnDeck
Best for short-term loans
Who should consider it: High-revenue businesses that can support higher weekly or daily payments.
OnDeck is an online business lender that offers loans up to $
250000
with repayment terms of 18
or 24
months. Shorter repayment terms can potentially save you money on interest and build business credit for future financing opportunities, as long as your business can support fairly high weekly or daily payments. Triton Capital
Best for equipment loans
Who should consider it: Businesses that need large equipment or vehicles.
Triton Capital can offer financing up to $
250000
, even if you have a personal credit score as low as 575
. The flexible terms that range from 12
to 60
months and no prepayment penalties allow you flexibility to make the best decision for your business’s growth.Accion Opportunity Fund
Best for minority women
Who should consider it: Businesses that could benefit from a hands-on loan experience and additional business counseling.
Accion is a nonprofit CDFI, that specifically helps women- and minority-owned businesses access capital when traditional barriers may stand in their way. Even with a low credit score, women entrepreneurs may be able to qualify for competitive rates and terms.
What is a bad credit score?
A bad credit score usually falls between 300 and 629 (on a scale of 300 to 850), according to the most common credit score models, like VantageScore and FICO. Personal credit scores ranging from 630 to 689 are typically considered fair credit.
A low credit score can reflect missed payments or bankruptcies, but it can also be due to the overall age of your credit accounts and the variety of credit account types on your report.
Business lenders may have their own criteria to define what they consider an acceptable credit score, however, loans marketed as bad-credit business loans typically target borrowers with credit scores below 630.
Where to get a business loan for women with bad credit
Traditional lenders, like banks and credit unions, are unlikely to issue loans to borrowers facing credit challenges. The alternative sources below, however, may be willing to work with women-owned businesses that don’t meet the credit requirements of traditional banks.
Online lenders
Women-owned businesses are more likely to apply for online loans than male- or equally male- and women-owned businesses, according to findings reported by the Federal Reserve in 2024 .
Online lenders tend to have flexible minimum credit score requirements, ranging from 550 to 660. Some of these lenders don’t set a credit requirement at all — and instead focus more heavily on cash flow or collateral when evaluating your application.
Online lenders typically offer easy approvals and fast funding, especially compared with more traditional lenders. As a result, however, online business loans usually have higher interest rates and shorter repayment terms.
Although there are numerous reputable lenders in the online market, there are also predatory lenders who try to take advantage of borrowers who are having trouble qualifying for funding. Be wary of any lenders offering no credit check loans or guaranteed approval.
CDFIs
Community development financial institutions (CDFIs) are banks and credit unions that receive government funding to provide banking access to low-income and underserved communities — including women, veterans and minority groups.
Unlike other traditional lenders, CDFIs tend to have flexible qualification requirements and are more amenable to working with startups and businesses with bad credit.
CDFI loans offer competitive interest rates and repayment terms, but funding may be slower than online lenders.
Nonprofit lenders
Like CDFIs, nonprofit lenders focus on offering business loans to borrowers who can’t qualify for traditional financing, such as those with limited or poor credit histories. Many of these lenders provide free or low-cost coaching and business training.
Some nonprofit lenders are also SBA microlenders. These lenders receive government funding, but administer their own loans. Microlenders can set their own standards for interest rates, repayment terms and qualifications — subject to SBA guidelines.
How to get a business loan for women with bad credit
1. Evaluate your credit
When you’re looking to get a business loan, start by checking your credit score. You can get a free credit score on NerdWallet, and also pull your personal credit report from the three major reporting bureaus for free at AnnualCreditReport.com.
Once you have your reports, it may be possible to improve your credit before applying for financing. Look for any errors on your credit report and dispute them with the appropriate credit bureau. Making more frequent payments or paying off debt can also help build your credit score.
2. Gather business criteria
Next, evaluate business criteria — such as annual revenue, time in business, cash flow, available collateral — to determine the type of funding you can qualify for. Look for the areas where your business is the strongest — maybe you have excellent cash flow, for example — and highlight these strengths on your loan application.
3. Research and compare lenders
Once you have a sense of your qualifications, you can begin researching and comparing lenders. You'll want to consider factors like borrowing costs, repayment terms, funding speed and lender reputation when choosing the right option for your needs.
Alternative funding options for women with bad credit
Here are some alternative financing options where a low credit score may not hurt you:
- Asset-based funding. With asset-based financing, you receive money from a lender to purchase products for your business. The product you’re looking to purchase, such as inventory or equipment, serves as collateral on the loan. Because this type of financing is self-collateralized, lenders are often more willing to work with credit-challenged borrowers.
- Small-business grants. Business grants offer free funding that you don’t have to repay. Grant providers typically don’t use your credit score to evaluate your application, although application windows can be narrow and the process can be competitive. Some companies offer specific business grants for women.
- Crowdfunding. With crowdfunding, you put your business on an online platform and advertise your financing goal. People can donate money to your business — usually in exchange for equity or some type of perk or benefit. Crowdfunding can be a good option for product-based businesses with an internet following.
Last updated on January 2, 2025
Methodology
NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
To come up with our list of the best business loans for women with bad credit, we selected lenders with credit score requirements of 625 or lower.
Our star ratings award points to lenders that offer small-business friendly features, including:
- Transparency of rates and terms.
- Flexible payment options.
- Fast funding times.
- Accessible customer service.
- Reporting of payments to business credit bureaus.
- Responsible lending practices.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodology for small-business loans and our editorial guidelines.
Wondering if you qualify?
It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.
See Your Loan Options