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Best Working Capital Loans in Ohio Nov 2024
Find funding that suits your business
Discover the top working capital loan solutions for your business needs. Find a loan provider that offers low rates, ideal repayment terms, and fast approval.
Best Business Loans in Ohio for November 2024
Find funding that suits your business
Best Working Capital Loans in Ohio Nov 2024
Updated November 2024
Quick Approval
Competitive Rates
Easy Online Application

Filter the best options for you:

Credit Score
Good Credit (680 - 719)
Time in Business
Show all
Monthly Revenue
More than $20,000
1
Editor's Choice
9.7
Exceptional
Scores are calculated based on:
Brand Performance
Based on data insights
8.8
Customer Engagement
Based on click-share
9.9
Products & Offerings
Based on our editorial analysis
9.9
Learn more on how we score
9.7
Exceptional
Scores are calculated based on:
Brand Performance
Based on data insights
8.8
Customer Engagement
Based on click-share
9.9
Products & Offerings
Based on our editorial analysis
9.9
Learn more on how we score
  • Fast & easy application
  • Wide range of financing options
  • 4.6-star rating on Trustpilot
Ranked in Deloitte's Fast 500
Apply Now
Visit Biz2Credit
More info:
Funding Amount
$25K - $6M¹
Time in Business
18+ months
Monthly Revenue
$10K+
Min. Credit Score
650
2
8.2
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
8.6
Customer Engagement
Based on click-share
7.5
Products & Offerings
Based on our editorial analysis
9.2
Learn more on how we score
8.2
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
8.6
Customer Engagement
Based on click-share
7.5
Products & Offerings
Based on our editorial analysis
9.2
Learn more on how we score
  • Get matched with a lender in minutes
  • Choose the best loan terms for you
Top-Rated Business Lending Platform
Apply Now
Visit Lendzi
More info:
Funding Amount
$10K-$5M
Time in Business
18+ months
Monthly Revenue
$12K+
Min. Credit Score
620
3
8.6
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.4
Customer Engagement
Based on click-share
7.8
Products & Offerings
Based on our editorial analysis
9.4
Learn more on how we score
8.6
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.4
Customer Engagement
Based on click-share
7.8
Products & Offerings
Based on our editorial analysis
9.4
Learn more on how we score
  • Applications reviewed in minutes
  • Receive funds in as fast as 24 hours
Strong Option for Building Credit
Apply Now
Visit OnDeck
More info:
Funding Amount
$5K-$250K
Time in Business
12+ months
Monthly Revenue
$9K+
Min. Credit Score
625
4
8.6
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.6
Customer Engagement
Based on click-share
7.5
Products & Offerings
Based on our editorial analysis
9.6
Learn more on how we score
8.6
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.6
Customer Engagement
Based on click-share
7.5
Products & Offerings
Based on our editorial analysis
9.6
Learn more on how we score
  • Free and easy online application
  • Dedicated lending specialists
Safety Net With Flexibility
Apply Now
Visit Lendio
More info:
Funding Amount
$5K-$2M
Time in Business
12+ months
Monthly Revenue
$20K+
Min. Credit Score
600
5
8.4
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.9
Customer Engagement
Based on click-share
8.3
Products & Offerings
Based on our editorial analysis
7.2
Learn more on how we score
8.4
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.9
Customer Engagement
Based on click-share
8.3
Products & Offerings
Based on our editorial analysis
7.2
Learn more on how we score
  • 24-48 hour turnaround
  • Compare rates before taking a loan
Well-Established Lending Marketplace
Apply Now
Visit LendingTree
More info:
Funding Amount
$5K-$1M
Time in Business
12+ months
Monthly Revenue
$10K+
Min. Credit Score
550
6
8.6
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.3
Customer Engagement
Based on click-share
8.1
Products & Offerings
Based on our editorial analysis
9.0
Learn more on how we score
8.6
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.3
Customer Engagement
Based on click-share
8.1
Products & Offerings
Based on our editorial analysis
9.0
Learn more on how we score
  • Hands-on support for fast funding
  • Provides transparent fee information
Helped Over 85K Small Businesses
Apply Now
Visit Fundera
More info:
Funding Amount
$5K-$1M
Time in Business
12+ months
Monthly Revenue
$15K+
Min. Credit Score
580
7
8.9
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.9
Customer Engagement
Based on click-share
9.0
Products & Offerings
Based on our editorial analysis
7.9
Learn more on how we score
8.9
Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
9.9
Customer Engagement
Based on click-share
9.0
Products & Offerings
Based on our editorial analysis
7.9
Learn more on how we score
  • Simple application process
  • Funds in as little as a few days
Pay Fees Only On The Amount You Use
Apply Now
Visit American Express® Business Line of Credit
More info:
Funding Amount
$2K-$250K
Time in Business
12+ months²
Monthly Revenue
avg. $3K+²
Min. Credit Score
660²
Compare Between Top Lenders
Use this side-by-side comparison table to help you find the right lender.
Features
9.7
8.2
8.6
8.6
8.4
Min. Time in Business
18 months
18 months
12 months
12 months
12 months
Min. Monthly Revenue
$10K
$12K
$9K
$20K
$10K
Min. Credit Score
650
620
625
600
500
Loan Amount
$25,000 - $6,000,000
$10,000 - $5,000,000
$5,000 - $250,000
$5,000 - $20,000
$5,000 - $1,000,000
Repayment Period
1 month - 7 years
up to 25 years
up to 24 months
1 - 6 years
3 months - 15 years
Equipment Loans
SBA Loans
Explore
Explore
Explore
Explore
Explore
Top Choice Overall
9.7
Exceptional
Scores are calculated based on:
Brand Performance
Based on data insights
8.8
Customer Engagement
Based on click-share
9.9
Products & Offerings
Based on our editorial analysis
9.9
Learn more on how we score
9.7
Exceptional
Scores are calculated based on:
Brand Performance
Based on data insights
8.8
Customer Engagement
Based on click-share
9.9
Products & Offerings
Based on our editorial analysis
9.9
Learn more on how we score
  • Rated 4.6/5 ★ on Trustilot
  • Funding in as little as 24 hours
  • Comprehensive online resources
  • Highly experienced experts on call
Apply Now
Visit Biz2Credit
FAQs About Working Capital Loans
Financing your business has become easier than ever with many lenders and business loan providers available. From working capital loans to lines of credit, businesses can apply for many types of loans in the market. Get started with the most commonly asked questions about working capital loans.
What are working capital loans?
Businesses can apply for working capital loans to finance short-term operational costs including payroll, debt payments, and rent. That can include everything from large purchases and unexpected expenses to everyday cash flow. Typically, working capital loans come with short repayment terms, and businesses do not usually use this type of loan for long-term investments such as real estate.
Who should use a working capital loan?
Many businesses don't earn stable or predictable income throughout the year. Retailers, for example, sell more products during their fourth quarter, holiday season. In such cases, companies may need to wait months until they receive enough money to pay for daily operating costs. When a company doesn't have enough cash on hand to pay for day-to-day expenses during slow periods, it can secure a working capital loan to cover costs. These loans usually make sense for companies that have high seasonality or cyclical sales that require extra funding during slow periods for business.
How do working capital loans work?
Working capital loans carry very short repayment terms, usually 12 months or less. Typically, repayment structures will require borrowers to make loan payments either daily or weekly. Because of the short-term repayment, businesses should resort to this sort of loan if their budget can handle payments frequently and on time. Businesses that need to pay for everyday expenses can apply with online lending services for a working capital loan. Keep in mind that online lenders have requirements in order to qualify. Lenders will look at criteria such as credit score, revenue, years in operation, and so forth. Eligibility requirements will vary from lender to lender.
Are there alternatives to working capital loans?
Merchant cash advances tend to have high borrowing costs and short repayment periods, making them difficult for budgeting. There are several types of business loans out there so companies should compare options before moving forward with the lending process. Online lending marketplaces offer a range of alternative loan options including: 


• SBA loans
• Business lines of credit
• Business credit cards
•Equipment loans
• invoice factoring
What are the pros and cons of working capital loans?
Pros:

Short-term loans: Businesses won't get tied up in long-term loans. Short-term lending periods make working capital loans ideal for companies that need fast cash to supplement slow seasons of business during the year.
Unsecured financing: Working capital loans require little to no collateral.
Fast funding: Borrowers can quickly access cash with an easy online application and fast approval process, usually within 48 hours.
Early payment options: Businesses can pay off loans early without penalty fees. In fact, because these loans are designed for the short term, early repayment can improve your credit score.

Cons:

Short repayment periods: Borrowers may need to repay their loan on a daily or weekly basis in 12 months or less, depending on the terms of the loan.
No partial repayment plans: Lenders require borrowers to pay back the amount borrowed in full, even when a business files for Chapter 11 bankruptcy.
High-interest rates: Working capital loans usually charge higher interest rates than long-term loans.

*American Express Business Line of Credit Disclosure: All businesses are unique and are subject to approval and review. The required FICO score may be higher based on your relationship with American Express, credit history, and other factors. American Express® Business Line of Credit offers two loan types, installment loans and single repayment loans for eligible borrowers. All loan term types, loan term lengths, and pricing are subject to eligibility requirements, application, and final approval. This chart contains general information about the American Express® Business Line of Credit installment loan type only.
**Biz2Credit Disclosure: See website for details. Varies depending on product and qualifications.
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