Small Business LOC Approval Hacks: 5 Banks That Approve 500 Credit Scores (2024)

Get Funded Fast – Even With Bad Personal Credit

🔑 Quick Answer: Top 5 Lenders for Low Scores

✅ Bluevine – No credit check (must have $40k+annualrevenue)✅\ast \ast Fundbox\ast \ast –\ast \ast 580+FICO\ast \ast +6monthsinbusiness✅\ast \ast OnDeck\ast \ast –\ast \ast 500+score\ast \ast (butrequires$100k+ revenue)
✅ Lendio – Bad credit OK (connects you with multiple lenders)
✅ Credit Strong Business – Secured LOC (builds credit while you borrow)

💡 Pro Tip: Banks care more about cash flow than credit scores for biz LOCs!

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1. Bluevine: Best for No Credit Check

Approval Requirements:

• Minimum Credit Score: None (soft pull only)

• Revenue Needed: $40,000+/year

• Time in Business: 6+ months

Hack to Get Approved:

• Link a business bank account with 10+ monthly transactions

• Show 3+ months of steady deposits (no NSF fees)

LOC Terms:

• Limits: $5,000–$250,000

• Interest: 6% – 30% APR

📌 Best For: Recovering from bankruptcy or very low scores

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2. Fundbox: Fastest for New Businesses

Approval Requirements:

• Credit Score: 580+ (personal FICO)

• Revenue Needed: $50,000+/year

• Time in Business: 6+ months

Hack to Get Approved:

• Connect QuickBooks/Xero (shows real-time cash flow)

• Take their “Invite-Only” offer (lower rates)

LOC Terms:

• Limits: $1,000–$150,000

• Draw Period: 12-24 weeks

📌 Best For: Quick cash flow gaps

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3. OnDeck: Highest Limits for Bad Credit

Approval Requirements:

• Credit Score: 500+

• Revenue Needed: $100,000+/year

• Time in Business: 1+ year

Hack to Get Approved:

• Apply Wed-Thu at 10AM ET (when underwriters review apps)

• Mention “seasonal business” if revenue fluctuates

LOC Terms:

• Limits: $5,000–$250,000

• Interest: 9% – 36% APR

📌 Best For: Established businesses needing large sums

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4. Lendio: Bad Credit Matchmaker

How It Works:

1. Fill one application

2. Get matched with 30+ lenders

3. Choose the best offer

Approval Hacks:

• Select “startup” or “rebuilding credit” filters

• Ask for a manual review if auto-denied

📌 Best For: Comparing multiple offers fast

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5. Credit Strong Business: Secured LOC

How It Works:

• You deposit $1,100+

• Get a $1,000 LOC (reports to biz credit bureaus)

• Deposit is locked for 12 months

📌 Best For: Building biz credit from scratch

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🚀 3 Approval Hacks for 500 Scores

1. The “Bank Statement Loan” Trick

• Show 3 months of biz bank statements (even with low scores)

• Best Banks: Live Oak, Cross River

2. Piggyback Off a Partner’s Credit

• Add a co-signer with 680+ score

• Best For: First Republic (before they collapsed)

3. Pledge Collateral

• Use equipment, inventory, or receivables

• Best Lender: Crest Capital

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📈 Real 2024 Approval Rates

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❓ FAQ: Low-Credit Business LOCs

Q: Can I get a LOC with a 500 score and no revenue?

➡️ No – but try Kabbage (reports biz revenue differently).

Q: Which banks don’t check personal credit?

➡️ Bluevine, Fundera, some credit unions (ask first).

Q: How fast can I get funded?

➡️ Same-day: Fundbox
➡️ 3-5 days: Bluevine, OnDeck