Is It Difficult to Get a Business Loan?
Whether it is difficult to get a business loan depends almost entirely on where you apply. Banks approve roughly a quarter of the applications they receive. Online and specialized lenders approve far more, and some fund businesses with 6 months of history and $10K in monthly revenue.
Last updated · Reviewed by Cody Dreis
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The Full Answer
The difficulty most owners experience is a matching problem. A bank wants 680+ credit, 2+ years in business, and strong financials. Miss any one and you are declined, even though a cash-flow lender down the street would fund you the same week. Owners apply to one bank, get a no, and conclude that loans are hard to get. What was actually hard was that particular lender.
The real difficulty ladder looks like this: revenue-based products and equipment financing are the easiest approvals, online term loans sit in the middle, and bank and SBA loans are the strictest but cheapest, with rates from about 6.8% at banks and 9.75% on larger SBA 7(a) loans at July 2026 pricing.
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Written by
Cody Dreis
Founder, Quordx Capital
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Quordx Capital is a business funding broker, not a lender. We facilitate introductions between U.S. small and medium-sized businesses and lenders or capital providers in our network. All credit decisions, funding amounts, rates, fees, repayment terms, and timelines are determined solely by individual lenders based on their own underwriting criteria.
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