New Merchants Capital doesn’t require personal assets as collateral,


Based in New York City and founded in 2007, New Merchants Capital extends lines of credit and term loans to small business owners. New Merchants Capital has facilitated more than $10 billion in financing.

Best features: New Merchants Capital offers up to $500,000 in lines of credit and has some of the lowest minimum credit score requirements available. Small business owners need a minimum FICO score of 500 for term loans. Term loans are available for up to 36 months.

Drawbacks: While New Merchants Capital doesn’t require personal assets as collateral, it does take a blanket lien on all business assets. You’ll be required to commit to either a fixed daily or weekly payment schedule, and there’s a 2.4 to 4 percent origination fee for first term loans.