--- title: The 4 Best Small Business Loans for Excellent Credit description: Access to high-quality funding options for your business is typically much easier if you have excellent credit. But which loan options are best? Read on to find the loan options that suit your needs. image: https://smartbizbank.com/hubfs/Imported_Blog_Media/loans-for-excellent-credit-2-1-2.jpg --- - [Share](https://smartbizbank.com/blog/the-best-small-business-loans-for-excellent-credit#) - - - - [mailto:?subject=Check%20out%20https://smartbizbank.com/blog/the-best-small-business-loans-for-excellent-credit](mailto:?subject=Check%20out%20https://smartbizbank.com/blog/the-best-small-business-loans-for-excellent-credit) # The 4 Best Small Business Loans for Excellent Credit December 23, 2022 By [Suzanne Robertson ](https://smartbizbank.com/blog/author/suzanne-robertson) There are times when you might need additional funding to either grow your company or keep it running smoothly. In those cases, lenders may be able to offer various funding options that can help. Generally, the higher your credit score, the more borrower-friendly loan products are available to you, and the more likely you are to qualify. [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/3d216d78-601b-4bc6-b9d5-3df52894e921.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/3d216d78-601b-4bc6-b9d5-3df52894e921) ## What is considered excellent credit? Generally, 650 to 739 is a good credit score, 740 to 799 is very good, while **above 800** is considered an excellent credit score. While the credit rating you’ll need to qualify for better loan options will vary by lender, the minimum score generally stays around 680. And as long as your other credentials suggest that you’ll reliably repay your debt, there’s a better chance you’ll be eligible for the loan. ## 4 small business loan options for excellent credit Below are some of the most common business loan options available for borrowers with high credit scores. Many of these loans come from traditional lenders such as banks. ### 1. SBA loans [SBA loans](https://resources.smartbizloans.com/blog/small-business-loans/types-of-sba-loans-a-comprehensive-overview/) are often seen as the gold standard in small business loans. While the Small Business Administration doesn’t lend money directly, it acts as a guarantor, helping banks minimize their lending risk. As a result, SBA lenders can offer higher-quality loans. Small business owners with good credit scores may apply for several types of SBA loans depending on their needs. These loans include: - [**SBA 7(a) loans**](https://resources.smartbizloans.com/more-sba-articles/7a-rates-terms-amounts-and-maturity/)**.** These SBA loans are the most highly sought-after. Their minimum loan amount is $30,000, and the maximum loan amount is $5,000,000. You can use them to cover [commercial real estate purchases](https://resources.smartbizloans.com/blog/business-finances/key-factors-to-consider-before-you-buy-commercial-property/), working capital, and [debt refinancing](https://resources.smartbizloans.com/blog/small-business-loans/how-to-refinance-a-business-loan/). Interest rates vary by lender. - **SBA 504 loans. **The 504 (also known as Certified Development Company, or CDC) loan program is similar to the 7(a) loan program, except it’s primarily for real estate purchases. The maximum loan amount is $5,000,000, with rare $5.5 million loans. It’s generally regarded as one of the best options for real estate purchases because your bank funds 50% of the loan amount, and your CDC covers another 40%. That leaves you with only a 10% down payment. - **SBA microloans. **Available solely to new or very small businesses, microloans provide a smaller amount of money to keep a business afloat or support a startup. The maximum loan amount is $50,000, though the average loan amount is closer to $13,000. - **SBA CAPLines loans**. SBA CAPLines loans are working capital loans designed to cover short-term or cyclical needs. These loans are available as [installment or revolving loans](https://resources.smartbizloans.com/blog/small-business-loans/is-a-small-business-loan-installment-or-revolving/). You might qualify for SBA CAPLines loans if your business is seasonal or you’re a homebuilder, contractor, subcontractor, or construction contractor. Other types of businesses are generally ineligible. ### 2. Bank term loans [Bank term loans](https://resources.smartbizloans.com/blog/small-business-loans/your-guide-to-small-business-term-loans/) comprise any small business loans that banks offer beyond SBA programs. The maximum loan amount depends on the bank but typically maxes out at $500,000. Typically, bank term loans have more stringent qualification criteria than similar financing options, but often come with more flexibility in how you use the funds.  [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/18da9baa-107e-45eb-ac28-f6a39014d087.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/18da9baa-107e-45eb-ac28-f6a39014d087)   ### 3. Business lines of credit Unlike traditional loans, [business lines of credit](https://resources.smartbizloans.com/blog/small-business-loans/small-business-lines-of-credit-pros-cons/) don’t give you a direct influx of working capital. Instead, the financial institution sets a certain amount of money that you can borrow against and then repay as needed. Typically, lines of credit have lending limits of around $100,000. You don’t necessarily need an excellent credit score to get a line of credit from an alternative online lender. However, a credit score of around 700 may help you get better rates. ### 4. Business credit cards A business credit card is similar to a line of credit, but with lower loan limits. The average limit for a business credit card is around $56,000, making them useful for small purchases. A business credit card with favorable rates typically requires a minimum credit score of around 690. However, there may be cards available through alternative lenders with less stringent qualification criteria. ## Benefits of applying for a small business loan with an excellent credit score Having an excellent credit score often opens the door to more attractive loan products. Below are just a few of the advantages that you and your business may stand to enjoy for working hard to achieve great credit. ### Low interest rates Many traditional loans that require a high credit score will have lower interest rates and longer repayment terms, which will typically have you spending less in the long term and give you lower monthly payments in the short term. ### Better terms Benefit to a great credit score is being able to secure favorable loan terms associated with traditional financing options. An alternative loan option will typically give you 6 to 18 months to repay a loan, along with typically high rates. Bank term loans can last anywhere from 24 to 60 months, while SBA loan terms may go up to 25 years. ### Higher loan amounts One of the main reasons business owners try to improve their credit scores is so it can help them qualify for access to more capital. A greater amount of money may help your small business expand into something larger with [new equipment](https://resources.smartbizloans.com/blog/small-business-loans/equipment-loans-for-small-business-pros-cons/), staff, and retail space. You may say that great credit could be a direct line to better business. ## Find high-value loans with SmartBiz® Loan options with a high minimum credit score requirement can provide several long-term financial benefits. However, with such a large number of options, finding a loan that matches your needs can prove challenging. And where do you even start looking? That’s where SmartBiz can help. Using your financial information, SmartBiz can search through lenders in your area and, with one streamlined application, find the loans best for your business. That means you save precious time during the application process. [Check now whether you pre-qualify](https://www.smartbizloans.com/apply/?partner_id=smartbiz&campaign_id=90950&agency=SB&medium=button&source=resourcecenter)* for SBA 7(a) loans, bank term loans, and other funding options available. [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/11a444ec-35ef-489a-95bb-23fe9c10727f.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/11a444ec-35ef-489a-95bb-23fe9c10727f) ![Q3 Promo E1](https://smartbizbank.com/hubfs/Q3%20Promo%20Email%20Images/Q3%20Promo%20E1.png) ### Access Funds Quickly Apply for a Bank Term Loan from a bank in our trusted network [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/08df270b-4561-4437-a5aa-11d47ef08efb.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/08df270b-4561-4437-a5aa-11d47ef08efb) - [Follow SmartBiz](https://smartbizbank.com/blog/the-best-small-business-loans-for-excellent-credit#) - - - - - ### Access to the right loan for right now We’re connecting small businesses with SBA, bank term loans, lines of credit, and flexible financing options. [![See if you pre-qualify](https://no-cache.hubspot.com/cta/default/21458256/08df270b-4561-4437-a5aa-11d47ef08efb.png)](https://cta-redirect.hubspot.com/cta/redirect/21458256/08df270b-4561-4437-a5aa-11d47ef08efb) ##### Topic - [Business Loans](https://smartbizloans.com/blog/tag/business-loans) - [Business Stories](https://smartbizloans.com/blog/tag/business-stories) - [Marketing](https://smartbizloans.com/blog/tag/marketing) - [Money Management](https://smartbizloans.com/blog/tag/money-management) - [Operations](https://smartbizloans.com/blog/tag/operations) ## Related Posts [ See all blog posts ](https://smartbizbank.com/blog) [Money Management July 01, 2026 ## How to Reforecast Your Budget Based on Summer Trends When you built your company’s budget for this year, you no doubt looked at past data. However, there were probably also some future projections that... Read More ](https://smartbizbank.com/blog/reforecast-your-budget-with-summer-trends-smartbiz-bank) [Money Management June 24, 2026 ## The Counterintuitive Truth About Summer Slowdowns For many small business owners, summer is an uncomfortable time of year. Many consumers travel or spend more time at home, which typically leads to them making fewer... Read More ](https://smartbizbank.com/blog/do-less-this-summer-to-grow-your-business-smartbiz-bank) [Money Management June 22, 2026 ## Small Business Revenue: Determine Where You Stand As a business owner, regularly reviewing your annual revenue gives you a clear picture of your company’s current health and helps you evolve your business strategically so... Read More ](https://smartbizbank.com/blog/small-business-revenue-determine-where-you-stand) ### Smart growth is smart business ## Access to the right loan for right now See if you pre-qualify, without impacting your credit score. 1 [ Apply Now ](https://smartbizbank.com/apply) 1. We conduct a soft credit pull that will not affect your credit score. However, in processing your loan application, SmartBiz Bank and the lenders with whom we work will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may impact your credit score. The SmartBiz® Small Business Blog and other related communications from SmartBiz BankSM are intended to provide general information on relevant topics for managing small businesses. Be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed. Please consult legal and financial professionals for further information. ```json { "@context" : "https://schema.org", "@type" : "Blog", "blogPost" : [ { "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "SmartBiz Bank Editorial Team" }, "dateModified" : "2024-01-15", "datePublished" : "2024-01-15", "description" : "Learn how SBA loans can provide the capital and flexibility small businesses need to expand operations, hire staff, and invest in growth.", "headline" : "How SBA Loans Can Help Your Small Business Grow", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank" }, "url" : "https://smartbizbank.com/blog/sba-loans-help-small-business" }, { "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "SmartBiz Bank Editorial Team" }, "dateModified" : "2024-02-05", "datePublished" : "2024-02-05", "description" : "Tips and strategies for small business owners to strengthen their SBA loan applications and increase approval chances.", "headline" : "5 Tips for Improving Your SBA Loan Approval Chances", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank" }, "url" : "https://smartbizbank.com/blog/sba-loan-approval-tips" } ], "description" : "The SmartBiz Bank Blog provides insights, tips, and guidance for small business owners on SBA loans, business financing, and financial strategies to grow their companies.", "inLanguage" : "en", "mainEntityOfPage" : { "@type" : "WebPage", "url" : "https://smartbizbank.com/blog" }, "name" : "SmartBiz Bank Blog", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://smartbizbank.com/wp-content/themes/smartbiz/assets/images/logo.svg" }, "name" : "SmartBiz Bank", "url" : "https://smartbizbank.com" }, "url" : "https://smartbizbank.com/blog" } ```