Best Business Loans in Alabama

Term loans, SBA-backed loans, lines of credit, and equipment financing for small and medium businesses. In Alabama, personal loans are capped at 24% APR for licensed consumer lenders, overseen by the Alabama State Banking Department.

Alabama Lending Overview

Personal Loan APR cap

24%

Median Home Price

$221,000

Median Household Income

$58,000

Avg Student Debt

$37,819

State Regulator

Alabama State Banking Department

Notable law: Alabama's Consumer Finance Act caps small consumer installment loans at 24% APR for licensed lenders, while payday loans are governed separately under the Deferred Presentment Services Act.

8 Business Loans Lenders serving Alabama

Best Egg

Business Loans

4.1

APR Range: 7.99% – 29.99%
Loan Amount: $2,000 – $50,000
Min Credit Score: 660

Available to residents of Alabama

Apply at Best Egg

Better Mortgage

Business Loans

4.0

APR Range: 6.30% – 7.50%
Loan Amount: $50,000 – $2,000,000
Min Credit Score: 620

Available to residents of Alabama

Apply at Better Mortgage

Bluevine

Business Loans

3.9

APR Range: 4.80% – 95.00%
Loan Amount: $1,000 – $500,000
Min Credit Score: 620

Available to residents of Alabama

Apply at Bluevine

Capital One Auto

Business Loans

4.1

APR Range: 5.09% – 19.99%
Loan Amount: $4,000 – $250,000
Min Credit Score: 600

Available to residents of Alabama

Apply at Capital One Auto

Earnest

Business Loans

4.2

APR Range: 3.95% – 9.99%
Loan Amount: $5,000 – $500,000
Min Credit Score: 670

Available to residents of Alabama

Apply at Earnest

LightStream

Business Loans

4.3

APR Range: 6.49% – 24.89%
Loan Amount: $5,000 – $100,000
Min Credit Score: 700

Available to residents of Alabama

Apply at LightStream

LightStream Auto

Business Loans

4.2

APR Range: 6.49% – 20.49%
Loan Amount: $5,000 – $100,000
Min Credit Score: 700

Available to residents of Alabama

Apply at LightStream Auto

OnDeck

Business Loans

3.5

APR Range: 10.99% – 99.00%
Loan Amount: $5,000 – $400,000
Min Credit Score: 625

Available to residents of Alabama

Apply at OnDeck

Alabama Lending Laws

Alabama's Consumer Finance Act caps small consumer installment loans at 24% APR for licensed lenders, while payday loans are governed separately under the Deferred Presentment Services Act.

The primary regulator for consumer lending in Alabama is the Alabama State Banking Department. Borrowers with complaints about a lender can file reports directly with that agency or with the federal Consumer Financial Protection Bureau (CFPB).

Frequently Asked Questions

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