How do you get an unsecured business loan?
You can get an unsecured business loan from a wide variety of lenders. Many large and local banks or credit unions work with businesses and offer various types of business financing and loans.

There are also online lenders and fintech companies that specialize in business loans, including unsecured business loans.

How hard is it to get an unsecured business loan?
How hard it is to get an unsecured business loan varies. If you have an established business with strong financials and good credit, it should be easy. Startups with bad credit will struggle.

As with many things, you have the choice of quick, cheap, and easy, but won’t be able to choose all three.
Can you get an unsecured business loan with bad credit?
Getting an unsecured business loan with bad credit is difficult, but it isn’t necessarily impossible. There’s always a chance a lender will be willing to make a loan offer. However, you should be prepared for high fees and rates if you do find a willing lender.


Unsecured business loan rates are usually higher than the interest rates for secured business loans. However, their lack of collateral requirements and their faster approval process can make them appealing to business owners.

When applying, make sure to research lenders to make sure you’re eligible and to provide as much information as possible to make the application process smooth.

About the Authors

TJ Porter

Written by: TJ Porter

Personal Finance Writer

I have in-depth experience in reviewing financial products such as savings accounts, credit cards, and brokerages, writing how-tos, and answering financial questions both simple and complicated.

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Somer G. Anderson, Ph.D.

Reviewed by: Somer G. Anderson Ph.D., CPA

Accounting and Finance Professor

Somer G. Anderson has been working in the Accounting and Finance industries for over 20 years as a financial statement auditor, a finance manager in a large healthcare organization, and a Finance and Accounting professor at Maryville University.

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Kal Salem

Fact checked by: Kal Salem

CPA, PMP and Finance Consultant

A CPA and finance professional working with small businesses to educate owners and grow alongside their businesses. He holds a Masters in Accounting and a BS in Supply Chain Management. Owner at Salem CPA Services LLC.

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