How Forbes Advisor Rates Business Loans

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This methodology is only applicable to Forbes Advisor Business Loans content.

Forbes Advisor’s editorial team relies on a 100-point system that highlights five key categories crucial to prospective borrowers. Once evaluated, we rate each lender between one and five stars; five stars is the best rating possible.

Loan Costs

	Loan costs we review We review annual percentage rates (APRs) and loan fees, including late payment fees and prepayment penalties. We also take into account any perks such as discounts that lower costs for borrowers.   Source: Forbes Advisor staff research
	Why it’s important to consumers: Business owners want to get necessary financing without paying costs that are through the roof. Loan APRs and fees determine how much they’ll pay over the life of the loan; discounts determine how much they can save.

Loan Details

	Loan details we review We review the minimum and maximum loan amounts lenders offer and the maximum available loan repayment terms.   Source: Forbes Advisor staff research
	Why it’s important to consumers: Loan amounts and repayment terms determine how much a borrower owes each month and how long they’ll be responsible for the debt.

Eligibility and Accessibility

	Eligibility and accessibility factors we review We review loan eligibility requirements, including a lender’s minimum credit score requirement. We also consider how long a business must be in operation to be eligible.   Source: Forbes Advisor staff research
	Why it’s important to consumers: A lender’s minimum qualification requirements determine a prospective borrower’s eligibility.

Customer Experience

	Customer experience factors we review We review customer service availability and customer reviews. We also consider if a lender offers a mobile app that borrowers can use to manage their loan.   Source: Forbes Advisor staff research
	Why it’s important to consumers: Lenders that provide top-notch customer service and have glowing customer reviews can offer a better borrower experience compared to those that don’t. What’s more, a mobile app can improve the overall borrowing experience.

Application Process

	Application processes we review We review the entire application process and determine if applicants can complete it online. We also consider how fast a lender can fund a loan.   Source: Forbes Advisor staff research
	Why it’s important to consumers: Borrowers often value streamlined applications and fast funding so they can access funds as soon as the same day.

You may find a lender with varying star ratings across different articles. This is because specific articles warrant slight variations in the methodology to serve the subtopic an article highlights, such as fast approval or bad credit. This provides a more accurate evaluation specific to that article.

Best Small Business Loans

We understand that business owners want access to sufficient low-cost financing, so we chose the best based on the weighting assigned to each category when reviewing the best small business loans:

• Loan cost. 35%
• Loan details. 25%
• Customer experience. 20%
• Eligibility and accessibility. 10%
• Application process. 10%

​​We also use this methodology for our individual lender reviews.

Best Business Line of Credit

Because business owners can use business lines of credit as needed, we focused on lenders that offer substantial loan amounts at competitive rates. We chose the best lenders based on the weighting assigned to each category:

• Loan cost. 35%
• Loan details. 25%
• Customer experience. 20%
• Eligibility and accessibility. 10%
• Application process. 10%

Best Business Debt Consolidation Loans

For business debt consolidation loans, we focused on lenders who offer sufficient loan amounts and awarded bonus points to those who repay creditors directly. We chose the best lenders based on the weighting assigned to each category:

• Loan cost. 35%
• Loan details. 25%
• Customer experience. 20%
• Eligibility and accessibility. 10%
• Application process. 10%

Best Fast Business Loans

When rating fast business loans, we leaned heavily on funding turnaround times and awarded the most points to lenders that offer same-day funding. We chose the best lenders based on the weighting assigned to each category:

• Application process. 25%
• Loan details. 25%
• Loan cost. 20%
• Customer experience. 20%
• Eligibility and accessibility. 10%

Best Business Loans With No Credit Check

When researching business loans with no credit check, we only consider lenders who—you guessed it—require no credit check. We chose the best lenders based on the weighting assigned to each category:

• Loan cost. 25%
• Loan details. 25%
• Eligibility and accessibility. 20%
• Customer experience. 20%
• Application process. 10%

Our editorial team is committed to publishing unbiased ratings and information so our readers can make informed financial decisions. We are proud to have a team of industry experts with over 20 years of experience.

During our review process, we use robust data-driven methodologies to evaluate financial products and companies. Every article undergoes multiple stages of editing and fact-checking to ensure we are delivering the best and most accurate information before publication.