June 14, 2023

The best business loans you can get with no credit check

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Whether your business is just starting out or has been in operation for decades, a business loan will come in handy occasionally. However, getting approved for traditional business loans might be difficult for business owners with bad credit scores or no credit history.

Business funding with no credit check can be an excellent alternative to these traditional business loans. But can you get a business loan with no credit check?

The answer is a resounding yes. In fact, there are many different types of business loans that don’t require a credit check. Find out what kinds of loans are available, the risks of these loans, and the best options available below. 

What is a no credit check business loan?

Lenders often run credit checks to determine the risk they accept when lending money to borrowers. If you’ve ever applied for a credit card, auto loan, mortgage, or any other consumer loan, you’re familiar with this process.

But credit isn’t just a consumer loan factor. It typically plays a significant role in business loans, which poses a challenge.

Most business loans require you to have good business or personal credit. However, there are business loans without personal credit or business credit requirements. These are known as no credit check business loans.

Types of business funding with no credit check

There are several ways to get your hands on business funding with no credit check. The most common include:

  • Friends and family: Consider reaching out to your friends and family for loans to fund your business’s growth.
  • Invoice factoring: Invoice factoring companies offer cash advances while you wait for your customers to pay their invoices. When a customer pays an invoice, the money they pay goes to the factoring company to pay back the loan.
  • Freight bill factoring: Freight bill factoring is the process of selling the rights to your freight billing for the money you need now. Freight bill factoring is similar to invoice factoring but typically offers a larger amount of working capital.
  • Sales-based underwriting: Some companies, like Ramp, offer sales-based underwriting. This means they use your company’s sales data to determine your loan eligibility rather than a credit score.
  • Accounts receivable financing: You can also agree to give rights to a portion of your future accounts receivables in exchange for the money you need today.

Best business loans with no credit check

When choosing a business loan with no credit check, you need to consider things like fees, interest rates, and features that can help you build your business. Read on to learn about the best no credit check business loans on the market today.


Ramp is a modern lending option designed to make the working capital you need available at your fingertips. The company follows a sales-based underwriting process, meaning limited credit history won’t hinder your chances of approval. Some of the most exciting features of Ramp include:

  • Higher credit limit: Ramp’s sales-based underwriting leads to credit limits that are up to 40 times higher than you get with traditional options.
  • Employee spending cards: Create as many physical and virtual employee spending cards as you need, each with unique spending policies built in that you control.
  • Expense management: The Ramp platform features state-of-the-art technology that automatically categorizes expenses, logs receipts, and more. In fact, you could close your books up to 60% faster with Ramp’s help.
  • It’s free: Ramp doesn’t charge interest, annual fees, account maintenance fees, or any other fees. The platform and available capital are completely free to access.

Keep in mind that Ramp is a charge card. That means you’ll need to pay your balance off at the end of each billing cycle. However, the company also partners with lenders to make other financing options available.


FundThrough is an invoice factoring company that can put up to $10 million in working capital on your books relatively quickly. Because the company’s interest is in your invoices for work you’ve already done, there’s no need for a credit check. Some of the biggest perks of working with FundThrough include:

  • Reasonable rates: FundThrough’s factoring rates range from 2.5% to 5%.
  • Cash flow-based approval: FundThrough uses your business bank statements and accounting software to determine your cash flow for approval. So, if you have a steady cash flow, approval is simple.
  • Quick funding: Get the working capital you need as soon as the day after you apply.

Although FundThrough can put working capital in your account quickly, there are a few drawbacks. Next-day funding comes with an additional fee, you’ll also pay fees for early payments, and your invoices have to be at least 3 months old to qualify for factoring.

Square Loans

Square is a popular payment platform, but it doesn’t just offer a way to charge your customers’ credit cards. Square also offers a unique approach to lending. Here are the most exciting features of Square Loans:

  • Up to $250,000 available: You may be able to access up to $250,000 in working capital.
  • Easy application: The loan application process is simple because it uses information from your Square account.
  • No interest: Square doesn’t charge interest. Instead, the company charges a set fee that makes it easier to understand the cost of borrowing.
  • Repayment: Your loan is automatically repaid by a percentage of daily sales.

This is a great pick for some borrowers, but it’s only available to Square members. Additionally, daily payments reduce your ongoing cash flow and may put additional strain on your business over time.


Kiva is a crowdsourcing platform that gives you the ability to tap into business loans from the community rather than traditional banks. Some of the biggest perks of working with Kiva include:

  • No collateral requirements: Kiva will never ask for collateral in order to approve your loan.
  • Interest as low as 0%: Your interest may be as low as 0%, but pay attention to the terms before you accept the loan, as interest rates can also be pretty high.
  • Vetting process: Your credit doesn’t matter at Kiva. Instead, the company vets borrowers in other ways, like endorsements from community members.

The biggest drawback to Kiva is time to funding because you’ll need to wait on peers to fund your loan. So, if you’re looking for same-day business loans with no credit check, you’ll need to look elsewhere. 

PayPal Working Capital Loans

PayPal, the popular digital payments platform, isn’t just for accepting payments for goods and services online. If you’re a PayPal user, you may qualify for a working capital loan from the company. Here are the perks of borrowing from PayPal:

  • Fast application: PayPal uses your account data to approve the loan, offering a fast and easy application and approval process.
  • Fixed fee financing: PayPal doesn’t charge interest. Instead, you’ll pay a fixed fee that makes the cost of funding more transparent.
  • Automatic repayments: Repayments are based on daily sales. No payment is due on days without sales.

Some of the biggest drawbacks to PayPal working capital loans are that you must be a PayPal user to take advantage of them, loan amounts are typically small, and you must pay off 5% of your balance every 90 days, which could lead to cash flow issues.

How to get a business loan with no credit check

Follow these steps to increase your chances of getting a no credit check business loan:

  1. Be prepared: Although you may not need to go through a credit check, you’ll likely need bank statements, profit and loss statements, and your articles of incorporation, at the very least. Make sure you have all your figurative ducks in a row when it comes to your business’s financial documents.
  2. Apply for the right option: If you don’t have strong daily sales but generate meaningful revenue with only a few clients, options like PayPal and Square may not fit the bill. Look for invoice factoring instead.
  3. Be honest on your application: Honesty is the best policy in just about every area of life. Be sure to answer all application questions as truthfully as possible.

Get Ramp to access the working capital you need

Get Ramp to access the capital you need, streamline the money management process, and empower your employees while reducing your operating costs today.

Content Marketing Manager, Ramp

Richard Moy is an experienced freelance Content Marketing Manager supporting Ramp. Prior to joining Ramp, he served as a content marketer and editor at BetterCloud and Stack Overflow.

Ramp is dedicated to helping businesses of all sizes make informed decisions. We adhere to strict editorial guidelines to ensure that our content meets and maintains our high standards.


What are the risks of startup business loans with no credit check?

The most common risks include:

  • Many of these loans come with daily payment requirements, which could cut into your cash flow.
  • Those that don’t require daily payments, like invoice factoring, can be pricey.
  • Some loans that don’t require credit checks require collateral, which could mean the loss of equipment, vehicles, or even your home if you don’t pay your bill on time.
Can startups with bad credit qualify for business loans?

Yes. Any business that generates a meaningful amount of cash flow can typically qualify for a business loan. In fact, the options on the list above don’t even check your credit score when determining whether your business qualifies for a loan.

How do no credit check business loan interest rates compare to traditional loans?

Ramp doesn’t charge any interest or even base fees for extending your credit line. Options like PayPal and Square charge flat fees, and FundThrough charges factoring rates ranging from 2.5% to 5%. Kiva charges interest, but that interest may be as low as 0%. How your interest rate compares depends on the option you choose and the rate you qualify for based on several factors.

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