| Term loan | While banks and credit unions typically require a score of 670 or above, online lenders may only require a score of 500 |
| Line of credit | Similar to term loans, you’ll need 670 or higher when applying at a bank but may only need a score of 580 or higher when applying with an online lender |
| Commercial real estate loans | You’ll need a strong credit score — preferably 680 or higher — to secure a commercial real estate loan |
| Equipment loan | Since equipment loans are secured by the equipment you purchase, you could get approved with a minimum credit score of 600 |
| Merchant cash advance | This type of bad credit loan is accessible to credit-challenged borrowers with a credit score in the mid-500s |
| SBA loan | Lenders offering SBA loans require credit scores between 620 and 680 |
Add A Comment