Manufacturing Business Loans

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Manufacturing Business Loans

Financing for Manufacturing Companies

Manufacturing is a reliable and often lucrative business to be in, but it is by no means a cheap one. The financial barrier to entry can be high and that doesn’t change when it comes to expanding a manufacturing business. If you’re thinking about how to start or grow your manufacturing business, you’ll likely need a manufacturing business loan.

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What is a manufacturing business loan?

A manufacturing business loan is financing you borrow to pay for business expenses. In most cases, this will be a lump sum amount you pay back over a short, medium or long term, but there are other forms of financing available.

Where to Find Manufacturing Business Loans

The top manufacturing business loans are:

Funding Circle

Funding Circle

Funding Circle

Funding: Borrow $25,000 to $200,000
Minimum Credit Score: 700
Loan term: 6-12 months
Funding turnaround: 24-48 hours

Funding Circle offers affordable business loans with interest rates lower than alternative lenders with monthly repayment schedules for borrowers with good to excellent credit scores.

Best for established businesses looking to expand, and offer loan terms to match. Interest rates range from 12% to 36% and they are known to fund quickly, usually within 3 days.

  • Minimum credit score: 660
  • Minimum time in business: 2 years
  • Minimum annual revenue: none
  • Must not have a history of bankruptcy within the last 7 years
  • Requires business lien and personal guarantee
  • Not available in Nevada


Kabbage Business Loan Review


Funding: Borrow $1,500 - $150,000
Minimum Credit Score: 640
Loan term: 6, 12 or 18 months
Funding turnaround: As soon as 1-3 business days

Kabbage offers borrowers a credit line up to $150,000 with monthly repayment options and no prepayment penalties. Approval as fast as same business day.

Kabbage offers flexible payment options and fast funding. They offer loans from $500 to $250,000 on a short term basis of 6 to 12 months, though there are other loan and financing options available through cabbage, such as a business line of credit.

  • Minimum credit score: 640
  • Minimum time in business: 1 year
  • Minimum annual revenue: $50,000
  • At least 1 year must have passed since a bankruptcy
  • Requires personal guarantee

Triton Capital

Triton Capital

Triton Capital

Funding: Borrow up to $250,000
Minimum Credit Score: 600
Best For: Equipment Financing in various industries
Funding turnaround: 1-2 business days

Borrowers seeking equipment financing can obtain a loan up to $250K with Triton Capital and obtain fast funding without prepayment penalties. Personal guarantee is required along with a $250,000 annual income to qualify. Repayment options are flexible and the minimum time in business must be 2 years.

If you’re looking to replace your equipment and are interested in using an equipment loan, look no further. Triton Capital offers some of the best equipment loans with rates as low as 5%. They offer flexible repayment options and generally fund you within 2 days.

  • Minimum credit score: 600
  • Minimum time in business: 2 years (however startups can get funding in some situations)
  • Minimum annual revenue: $250,000
  • Requires personal guarantee and business lien

How does a manufacturing business loan work?

In most cases, you’ll apply to a lender for a lump sum amount you want to borrow. Once approved, they’ll deposit the money into your bank account which you can then use for any business expense, unless the loan is tied to a specific use. You then pay the loan back, plus interest, via daily, weekly or monthly repayments.

What can a manufacturing business loan be used for?

A manufacturing business loan can usually be used for any business expense, such as:

  • New equipment
  • Marketing materials
  • Seasonal staff
  • Raw materials
  • To smooth payroll if you have long invoice terms
  • New premises
  • Renovations

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What are the different types of manufacturing business loans?

  • Bank Loans: This is the most traditional form of business loan and has generally fallen by the wayside in favor of more accessible term loans from online lenders. That said, for those with excellent credit scores and stellar business performance, they are often worth applying for. You can get some of the lowest interest rates (2-5%) and longest terms.
  • SBA Loans: Term loans guaranteed by the Small Business Administration are the next most desirable, with interest rates no higher than 13%. Their 7(a) loan program is the most versatile, with funds available for any purpose, while their 504 loan program provides funding for large assets. They also have a Microloan program which provides funding for female-led and minority business owners up to $50,000. While desirable, they do have strict qualification requirements, often require a down payment and personal collateral, and it can take up to 12 weeks from when you start your application to when you get funding. That said, if you qualify and aren’t in a rush for funds, the interest rates make the wait worth it.
  • Term Loans: Term loans are available from alternative lenders online and are some of the fastest ways to get the funding you need. Many lenders offer term loans with comparable terms as SBA loans for those with excellent credit, and reasonable interest rates for those with reasonable credit scores. You can borrow over the short term (as little as 3 months), medium term (1-3 years), or long term (3+ years).
  • Equipment Loans: Equipment loans are term loans that are tied to the equipment you buy with the loan. These loans have limited use (you can only use them for equipment your lender agrees to) but because the equipment acts as collateral for the loan, you can often get better interest rates, even with a lower score.
  • Business Line of Credit: Not strictly a loan, a business line of credit is a good option if you’re looking for a flexible way to borrow as and when needed. Much like a credit card, a lender will give you a maximum credit limit which you can borrow up to. You only pay interest on the money you’ve actively borrowed, and you can reuse the credit once you’ve paid it back until the line is closed.
  • Invoice Financing: If you have long invoicing terms, you may find invoice financing helpful. Invoice financing is where you borrow the value of the invoice from a third party company, and pay it back (plus interest) when your client pays you. This can be a great way to smooth cash flow, provided you build in a buffer for the fees associated. There is also invoice factoring, which is where you sell an unpaid invoice to a third-party company. This is a desirable option for those with bad credit (since you’re not borrowing money), but be aware that you do lose control of the customer experience, so you may lose the customer in the long run.

What are the pros and cons of using a manufacturing business loan?


  • Low interest rates compared to alternative forms of financing
  • Predictable payments - usually monthly but some are daily or weekly
  • You can expand your business quickly
  • Paying religiously will help build your personal and business credit


  • Nearly always require collateral
  • Best loans require high credit scores
  • Difficult to get for new businesses

How much does a manufacturing business loan cost?

How much a manufacturing business loan costs will depend on the interest rate you get. Make sure you do your math beforehand so you know exactly how much your loan will cost you on a monthly basis as well as overall. Use our calculator below to get an accurate estimate:

How much do you need to borrow?


Total Payment


Total Interest


Monthly Payment


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How to Qualify for a Manufacturing Business Loan

To qualify for a manufacturing business loan, you’ll generally need:

  • A credit score of 600 or higher
  • A minimum annual revenue of $50,000 - $100,000
  • At least 1 year in business
  • Be willing to put up a personal guarantee and in many cases a business lien too

Can I qualify for a manufacturing business loan with a low credit score?

Yes, there are some loans you can get with a score as low as 500, but you’ll need to do your research carefully. Make sure the loan is affordable for your business and consider waiting a few months so you can work on improving your credit score, if possible.

How to Apply for a Manufacturing Business Loan

The application process for most online lenders is straightforward - once you’ve chosen the right loan for you and checked that you meet their qualification requirements, click apply and follow their instructions. You’ll need essential business, personal, and financial information for your application, including your social security number, tax returns, profit and loss, financial forecasts, and in many cases, a business plan.

Compare and Apply Now

Have you decided a manufacturing business loan is the right next step for you? If so, it’s time to compare rates to find the best loan for your business. Remember that the interest rate you get is the most important factor in determining how affordable you’ll find repayments, so try to get the lowest rate you can. Look at our top loans and those listed in our tables until you find the one that’s right for you, and then apply. You’ll soon have the funding you need to grow your manufacturing business.

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