How we picked
Filtered to funders whose amountRange includes amounts above $500K. Ranked by execution speed, deal structure flexibility, and pricing transparency.
Top picks at a glance
| Lender | Best for | Amount | Speed | Min credit | Action |
|---|---|---|---|---|---|
| Live Oak Bank | Best SBA — up to $25M | $25,000 – $25,000,000+ | 30 – 90 days underwriting (SBA standard) | 680+ typical | Apply → |
| JPMorgan Chase Business | Best big-bank for $1M-$25M | $10,000 – $25,000,000 | Pre-qualification minutes; funding 5 – 60 days | 680+ | Apply → |
| Libertas Funding | Best MCA for $250K-$2M | $10,000 – $2,000,000 | Funding in 24 – 72 hours after approval | 550+ | Apply → |
| Biz2Credit | Best for $500K-$6M (marketplace + direct) | $25,000 – $6,000,000+ | Offers in 24-72 hours | 575+ | Apply → |
| CIT (First Citizens) | Best commercial for $1M-$50M+ | $25,000 – $50,000,000+ | 5 – 21 days standard | 650+ | Apply → |
| Newtek Small Business Finance | Best multi-product for $250K-$15M | $25,000 – $15,000,000 | SBA 30 – 60 days; alternative products 1 – 7 days | 650+ | Apply → |
| Wayflyer | Best RBF for $1M-$20M (e-commerce) | $10,000 – $20,000,000 | Funding in 24 hours | No FICO check — underwrites against platform data | Apply → |
Advertiser disclosure: Fundnode may earn referral fees from funders listed on this page when you apply through us. This does not affect editorial rankings — see our methodology.
Detailed reviews — our 7 picks
#1 · Best SBA — up to $25M
Live Oak Bank
Max amount
$25,000,000+
Cost
SBA 7(a) APR prime + 2.75% to 4.75%
Speed
30 – 90 days underwriting (SBA standard)
Min credit
680+ typical
Why we picked it
#1 SBA 7(a) lender in the US by dollar volume for 7+ years. SBA rates (prime + 2.75-4.75%) dramatically cheaper than MCA. 30-90 day timeline.
The strength
Largest SBA 7(a) lender in the US by dollar volume for 7+ consecutive years. Industry-specialty teams (veterinary, dental, funeral homes, self-storage, agriculture, hotels). Deep understanding of niche-vertical underwriting. Dramatically cheaper than MCA for qualifying merchants.
The watch-out
Long underwriting timeline (45-90 days typical). Requires strong credit (680+), 2+ years operating, clean financials. Industries outside their specialty get less attention.
Qualifications
24 months
$20,000+
680+ typical
#2 · Best big-bank for $1M-$25M
JPMorgan Chase Business
Max amount
$25,000,000
Cost
SBA 7(a) APR prime + 2.75% to 4.75%
Speed
Pre-qualification minutes; funding 5 – 60 days
Min credit
680+
Why we picked it
Top-5 SBA originator. Strong term loan + LOC products. Best for established merchants with existing Chase banking relationship.
The strength
SBA Preferred Lender — top-5 SBA originator nationally. Strong term loan + LOC products for established merchants. Best Chase relationship pricing for customers maintaining business deposit accounts.
The watch-out
Strict underwriting — 24+ months operating, clean financials, 680+ credit. Slower than fintech alternatives. Branch-dependent — some products require in-person closing.
Qualifications
24 months
$15,000+
680+
#3 · Best MCA for $250K-$2M
Libertas Funding
Max amount
$2,000,000
Cost
Factor varies by deal
Speed
Funding in 24 – 72 hours after approval
Min credit
550+
Why we picked it
Cited by CNBC Select specifically for larger advances. $250K-$2M typical deal range. Direct funder, customized terms.
The strength
Specializes in larger MCA advances than most competitors — $1M+ deals are routine. CNBC Select calls them out specifically for 'larger advances' use cases. Customized contract terms for established merchants.
The watch-out
Higher minimums ($25K+/mo revenue, 12+ months TIB) exclude smaller operators. Custom-term deals can include aggressive clauses; have an MCA attorney review contracts over $250K.
Qualifications
12 months
$25,000
550+
#4 · Best for $500K-$6M (marketplace + direct)
Biz2Credit
Max amount
$6,000,000+
Cost
Varies
Speed
Offers in 24-72 hours
Min credit
575+
Why we picked it
$25K-$6M+ range. Strong CRE and franchise programs. Hybrid marketplace + direct model.
The strength
Hybrid model — marketplace AND direct lender. Strong commercial real estate (CRE) and franchise financing programs. $7B+ in funding facilitated since founding. Strong platform features per Money magazine review.
The watch-out
Pricing not as transparent as some direct competitors. Application can feel like multiple lender approvals are happening in parallel — be ready for several sales follow-ups.
Qualifications
6 months
$12,500
575+
#5 · Best commercial for $1M-$50M+
CIT (First Citizens)
Max amount
$50,000,000+
Cost
Equipment APR 6 – 18%
Speed
5 – 21 days standard
Min credit
650+
Why we picked it
Now part of First Citizens Bank. Major commercial lending operation. Strong industry verticals: healthcare, manufacturing, transportation.
The strength
Major commercial lender now part of First Citizens Bank after 2022 merger. Strong equipment leasing + commercial lending programs. Industry verticals: healthcare, manufacturing, transportation, energy.
The watch-out
Mid-market and up — too large for typical SMB applicant. Conservative underwriting. Lengthy approval process.
Qualifications
24 months
$25,000+
650+
#6 · Best multi-product for $250K-$15M
Newtek Small Business Finance
Max amount
$15,000,000
Cost
SBA 7(a) APR prime + 2.75% to 4.75%
Speed
SBA 30 – 60 days; alternative products 1 – 7 days
Min credit
650+
Why we picked it
Top-3 non-bank SBA 7(a) lender. Combines SBA, alt-fin, payroll, payments in one provider.
The strength
Top-3 SBA 7(a) non-bank lender. Bundled offering: SBA, alternative financing, payroll services, payment processing, web/IT services. One-stop for established merchants. Now bank-affiliated via Newtek Bank.
The watch-out
Cross-sell pressure on bundled services. SBA process still 30-60 days minimum. Alternative financing arm pricing not always the most competitive.
Qualifications
24 months
$15,000+
650+
#7 · Best RBF for $1M-$20M (e-commerce)
Wayflyer
Max amount
$20,000,000
Cost
Single fee 3 – 8% of advance
Speed
Funding in 24 hours
Min credit
No FICO check — underwrites against platform data
Why we picked it
Up to $20M for established e-commerce brands. Underwrites via platform data. Tiger Global / J.P. Morgan backed.
The strength
Built specifically for e-commerce — underwrites using your Shopify/Amazon/Stripe data, not bank statements alone. Single-fee structure (no compounding factor). Repayment as percentage of daily sales — scales with revenue. Backed by Tiger Global, J.P. Morgan among others.
The watch-out
Only works for e-commerce/DTC brands with verified platform sales. Single fee can equate to 30-60% APR for fast-repaying deals. Some merchants report aggressive renewal pressure.
Qualifications
6 months
$20,000
No FICO check — underwrites against platform data
Frequently asked questions
- How can I get a $1 million business loan?
- Three viable paths: (1) SBA 7(a) via Live Oak Bank or JPMorgan Chase (cheapest but 30-90 days), (2) Large-deal MCA via Libertas Funding ($250K-$2M, 24-72 hours but expensive), (3) Bank commercial lending via JPMorgan, Wells Fargo, or CIT (mid-range pricing, 30-60 days).
- What's the largest MCA available?
- Libertas Funding routinely originates $1M+ deals up to $2M. Wayflyer (revenue-based, e-commerce only) goes up to $20M. Most generalist MCA funders cap at $500K. Larger deals require demonstrated $50K+/mo revenue and 12+ months operating.
- Is an SBA loan worth the wait for large amounts?
- Almost always yes if you qualify. $1M at SBA 9.75% over 10 years = ~$13K/mo. Same $1M at MCA factor 1.30 over 12 months = ~$108K/mo. The 30-90 day wait saves $1M+ in cost.
- What credit score do I need for a $500K loan?
- SBA: 680+. Bank: 680+. Mid-market commercial: 700+. Large MCA: 600+ acceptable but expect higher factor rates. Best terms require strong personal credit AND business financials demonstrating loan repayment capacity.
Related reading
Methodology
How we chose
Ranking criteria
- Use-case fit — funder must qualify the merchant profile this page targets (credit, time-in-business, revenue, industry).
- Pricing transparency — published factor-rate or APR-equivalent disclosure outweighs marketing-only quotes.
- Speed-to-fund — verified time from signed contract to ACH deposit, not 'as fast as' marketing claims.
- Contract terms — daily/weekly debit structure, prepayment treatment, COJ / personal guarantee posture.
- Customer-experience signals — BBB profile, Trustpilot, ISO chatter, and direct merchant feedback collected via Fundnode applications.
Sources consulted
- Funder-published rate cards, contract templates, and disclosure pages (refreshed quarterly).
- Public regulatory filings — California DFPI commercial-financing disclosures, New York commercial-financing disclosure law filings.
- Direct merchant feedback collected through Fundnode's /qualify funnel (n > 200 since 2026-01).
- ISO desk operator interviews — anonymized commentary on approval patterns and stipulations.
Update cadence
Reviewed quarterly. Last updated 2026-06-24.
Conflict of interest
Fundnode may earn referral fees from funders listed on this page when merchants apply through us. Rankings are editorial and independent of fee economics — funders cannot pay for placement.