Best Photography Business Loans

Let’s face it—camera equipment is expensive. And while you may be able to start your photography business with just a camera or two, you’ll soon need to invest in more equipment if you want to grow your business and provide better service.

Photography Business Loans
Christi Gorbett
Written by:Christi Gorbett
Freelance Content Marketing Writer

It can be difficult for professional photographers to find funding through traditional banks and credit unions—their qualifications are just too rigorous. So where do you turn when you need to purchase new photography equipment, build a studio, or pay for unexpected expenses?

The good news is there are plenty of online lenders with more lenient requirements to help you finance your photography business. In this article, you’ll learn all about some of the top lenders of photography business loans and what they offer, including loan features, best uses for funds, and how to qualify.

How to Choose the Best Photography Businesses Loan

Here are the factors you should take into consideration when comparing loans; these are also the criteria our experts have used when providing recommendations in this guide.

  • Loan Features: The most important factor to consider is the loan features including loan amounts, how long you have to repay the loan, and repayment options (monthly, weekly, daily). For example, if you’re just starting your photography business and would like several years to pay for equipment, you can eliminate any short-term loans.
  • Application Process: You should also take into account the invasiveness of the application, how difficult it is to complete, and how quickly you receive the funds. Check whether the lender conducts a hard credit pull that will reduce your credit score or a soft credit pull that has no effect.
  • Interest Rates and Fees: A small gap in interest rates can make a big difference over the life of a photography business loan; shop around to find the most competitive APRs. Also check whether the lender charges loan origination, maintenance, or prepayment fees, as these can add up quickly.
  • Qualification Process: Each lender has its own set of qualifications. Check to make sure that you meet the minimum credit score, annual revenue, and business history requirements. For example, if you started your photography business a few months ago, there’s no point in applying to a lender that requires at least a year and a half in operation.
  • Customer Support: It’s important that you be able to reach your lender’s customer service team whenever you need them. Check to make sure they offer multi-channel customer service support with access to a live representative to help with photography financing. Also look for useful information on the lender website such as FAQs, blogs posts, and a help center.
  • Online User Reviews: You can also find vital information about the lender through independent review sites like Trustpilot. Read through the reviews to learn what kind of reputation the lender has and whether they’re reliable, helpful, and easy to contact.
  • Perks and Bonuses: Lenders may also offer additional bonuses such as payment flexibility, advanced technology, and advertising transparency. For example, you’re better off using a lender that publishes their interest rates and fees up front, so you’re not surprised by exorbitant payments.

Best Photography Business Loans for 2022 - Full Overview

Below is an overview of some of the best lenders for photography business loans and the financial products they provide.

Our Top Picks for Photography Business Loans

biz2credit review
  • Multiple loan types available
  • Funding in 48h
  • Soft credit pull
credit score
Min. Credit Score 600+
loan amount
Loan Amount $25K - $6M
loan repayment
Loan Repayment 12-36 months
  • Connections to multiple lenders
  • Competitive rates
  • Soft credit check
Credit Score
Min. Credit Score 550+
Loan Amount
Loan Amount $5K-$5M
Loan Repayment
Loan Repayment Up to 30 years
  • Simple application process
  • As soon as same day funding
  • Open to high-risk industries
Credit Score
Min. Credit Score 500+
Loan Amount
Loan Amount $5K-$400K
Loan Repayment
Loan Repayment 6-18 months

Best Photography Business Loans Explained

Here are some important details for the loan types outlined in the table above. We’ll look at what the loan entails, its top features, how it applies to the photography industry, and why we recommended the indicated providers.

1. Biz2Credit - Best for Term Loans

Term loans through Biz2Credit are a great option for photography business financing because they offer a wide range of loan amounts with repayment terms up to three years. This means no matter what you’re financing—whether it’s camera and lighting equipment, new studio space, or hiring an assistant—term loans can provide the funds you need.

Easy, straightforward application process
Loan disbursed quickly, often within 72 hours
Lender offers various loan types
High borrowing limits
Rigorous loan eligibility requirements
Few repayment options
Origination fees assessed on loans

Biz2Credit offers term loans in amounts ranging from $25,000 to $250,000. APRs start at 8.99% for well-qualified borrowers with repayment terms between one to three years. Biz2Credit does charge a loan origination fee, which can range between 1% to 6%. Repayment can be made either weekly or bi-monthly; monthly payments are not permitted.

Qualifying for these photography loans may be challenging for some, especially if you’ve just started your business; you must be in operation for at least 18 months with $250,000 in annual revenue to qualify. It’s also recommended that you have a credit score of at least 660 to get the best loan terms.

The Bottom Line

Biz2Credit’s term loans are the perfect option for a successful photographer with good credit who’s been in business for more than 18 months. With their high loan limits and lengthy repayment terms, these photography business loans can be used for practically any expense you may incur.

Try Biz2Credit

2. Fundera - Best for Equipment Financing Loans

Fundera’s photography equipment financing loans are a great choice if you need to purchase new cameras, lenses, lighting, backdrops, or computers to build or grow your business. Loans will cover up to 100% the cost of the equipment with generous repayment terms between five to six years. With low credit score qualifications and no minimum revenue or business history requirements, these are an excellent option for those who are starting their professional photography business.

Offers a variety of loan types
Borrowers can prequalify with a soft credit check
Access to multiple lenders
Competitive interest rates offered
Borrowers with poor credit can apply
Extended repayment terms provided
Funding could take up to three weeks
Higher APRs for borrowers with poor credit
Loan origination fees may apply

Fundera offers photography equipment financing up to 100% the cost of the equipment. Repayment terms are generous, with borrowers having between five and six years to pay back the loan. Interest rates for these photography business loans start at 4% but can reach up to 40% for borrowers with poor credit.

Fundera also offers a variety of other financial products including term loans, business line of credit, SBA loans, and microloans. Qualifying for photography financing through Fundera is easy—you just need a credit score of 550 to apply; there are no additional requirements for time in business or annual revenue. Many of Fundera’s lenders do charge a loan origination fee and late payment fees may also apply.

The Bottom Line

Fundera’s equipment financing loans are the best choice for any photographer who needs funding to buy a new camera, lens, lighting, or any other business-related equipment. With their flexible requirements and long repayment terms, these loans are ideal for photographers who are at the beginning of their professional career.

Try Fundera

3.Credibly – Best for Business Expansion Loans

If you need a loan for your photography business, one of the best options is the business expansion loan available through Credibly. With these loans, you can borrow any amount between $150,000 to $5 million to finance your growing business. Loans can be used for practically any purpose including building an in-home studio, paying for a professional website, hiring an assistant, and buying new equipment. You have up to ten years to pay back the loans, which makes these an affordable option for expanding your business.

Simple and straightforward application process
Works with many different lenders
Offers a variety of loan types
Borrowing limits are higher than average
Loans made available to borrowers with poor credit
APR may be high for borrowers with poor credit
Business expansion loan requirements not divulged
Most associated lenders charge an origination fee

Credibly offers a wide range of financial products including working capital loans, a business line of credit, equipment financing, and SBA loans. One of their most attractive options is the business expansion loan, which allows photographers to borrow anywhere from $150,000 to $5 million and take up to ten years to pay it back.

Business expansion loans can be used for a variety of purposes, including building a new photography studio, purchasing equipment, and hiring more help. APRs for these photography loans range between 8% and 25%; on top of that, you’ll also likely pay a loan origination fee that equals 2.5% of the loan amount. Unfortunately, the requirements for approval aren’t publicly available, so check with the provider for more information.

The Bottom Line

Business expansion loans through Credibly are an excellent choice if you’re ready to grow your business but you don’t have to necessary funds. Loans can be taken out in large amounts, used for practically any purpose, and paid back over three to ten years, which makes this an easy, affordable way to build your photography business.

4.BlueVine – Best for Business Line of Credit

BlueVine offers photography business loans in the form of a business line of credit. A line of credit is a flexible borrowing option for photographers who need fast cash to cover unexpected expenses, like a broken lens or camera. Loans amounts range from $5,000 to $250,000 but these are a short-term option with repayment expected within six to 12 months.

An easy application process
Fast disbursement of funds
Low credit score requirements
Fair interest rates
Repayment required within six to 12 months
Borrowers with poor credit may incur high APRs
Not available in Nevada, North and South Dakota

BlueVine offers a business line of credit to photographers who need quick access to a flexible line of spending. Borrowers are approved for an amount between $5,000 and $250,000 and can make draws any time they need funds. APRs start at 4.8% with repayment required within six to 12 months.

To qualify for a business line of credit through BlueVine, you need have a credit score of at least 600. Also, your photography business should be at least six months old and earn a minimum of $10,000 per month. There are no maintenance fees on this account, but you will likely have to pay a loan origination fee of 1.60% - 2.50% per draw.

The Bottom Line

BlueVine’s business line of credit is an excellent finance option for photographers who need money to cover the cost of doing business; it’s especially helpful when you need to pay for unexpected expenses. For example, if you’re hired for a big event and need help carrying equipment and setting up shots, you have access to funds to pay for additional personnel.

Try BlueVine

5. Fora Financial - Best for Short-Term Loans with Bad Credit

Fora Financial’s short-term loans are an excellent finance option for photographers with a poor credit, limited income, or little time in business. To qualify, you only need to be in business for half a year with monthly revenue equaling $1,000 plus a credit score of 500. These short-term loans are especially helpful if you need to pay for emergency expenses, like replacing broken lighting equipment.

Easy application with little documentation needed
Quick disbursement, as fast as 24 hours
Offers loans to borrowers with low credit scores
Low annual revenue requirement
Assesses borrowing and origination fees
Interest rates vary
Higher APRs for poor credit borrowers
Repayment required in four to 15 months

Fora Financial offers short-term loans for photography business owners with bad credit. Loans can be taken out in any amount between $5,000 and $500,000 but must be repaid within four to 15 months. APRs vary but are typically charged at a 1.1 to 1.3 factor rate. That means if you borrow $10,000 at a factor rate of 1.2, you’ll have to repay $12,000.

The qualification requirements for these photography business loans are very accessible; you only need to be in business for six months with a monthly revenue of $1,000 and credit score of 500 to qualify. Fora Financial does assess several additional fees, including a 10% to 30% borrowing fee, a loan origination fee up to 2.5% plus late payment fees of $35.

The Bottom Line

If you need cash quickly but have bad credit, little revenue, or limited business history, then Fora Financial’s short-term loans are the perfect solution. These are an excellent choice if you encounter unexpected costs like replacing a damaged lens or fixing a broken camera.

6. OnDeck - Best for Short-Term Loans

OnDeck’s short-term loans are an excellent financing option for thriving photography businesses that need a quick infusion of cash. Loans can be taken out in any amount between $5,000 to $250,000 but must be repaid within three to 18 months, making these a great choice for paying unforeseen expenses like replacing broken equipment.

The application process is simple
Approval decisions are made quickly
You may receive funding in as little as 24 hours
The credit score requirement is relatively low
Only two lending options available
Broad range of interest rates
Limited options for repayment terms
Origination and maintenance fees may apply