How Can I Get a $6 Million Dollar Business Loan in 2022


We are processing your information.

Please hold tight for a few seconds!

WE Secured
IN Financing
OWNERS national business capital logo

Looking for a competitive 6 million dollar business loan in 2022? Read our comprehensive guide for everything you need to know to start the process on a strong foot.

Cash flow management isn’t easy for small businesses and corporations alike. Between your operational expenses and the new challenges you face, it can be difficult to prioritize your growth, especially if you’re in an industry that deals with periods of low business activity.

When you’re faced with a growth opportunity that you can’t afford, what do you do?

Some business owners try cut their budgets to afford the chance at growth, but you can only do this so many times until you’re jeopardizing the integrity of your operation. Rather than sacrifice your business to afford growth, you can secure a business loan to take your business to the next level

You can access the capital you need through a business loan, even something significant, like $6 million. However, the process of securing a 6 million dollar business loan is more difficult than you think, especially if you have no prior experience in financing your business. 

But, don’t worry: We’ve got you covered with everything you need to know before starting your search for a large business loan:

What Are the Requirements for a $6 Million Business Loan?

First, you’ll need to have your financial information in order. Lenders will need to review your credit score, business bank statements, and other documents to ensure you’re capable of repaying the borrowed amount within the term. At a minimum, you’ll need to provide:

Last 2-3 years of Business Tax Returns Last 2-3 years of Personal Tax Returns
Last 2-3 Years and YTD Financials Cash Flow Statement
Personal Financial Statement Collateral: Real Estate or Quality B2B Account Receivables
Be Profitable Projections
Established Business credit Personal credit score (700 or more)
Business plan (including information on your industry, competitors, growth strategy, etc.)

You can choose a few different routes to secure your business loan, but the most traditional options are banks and credit unions. These lenders have been around forever, and before the last few decades, they were the only institutions that would finance small businesses. 

Banks and credit unions tend to have the strictest eligibility requirements of all lending institutions. You’ll need to have a high credit score, a lengthy time in business, and substantial annual revenue to qualify for the most favorable rates and terms, but even businesses with lesser financial information can still reach approval.

However, these lenders aren’t your only option. Alternative lenders, otherwise known as online lenders, can help you secure a large  business loan. They have less restrictive eligibility criteria, more flexibility in terms of financing options, and are easier to apply for, but they also feature some of the highest interest rates

Higher interest rates might seem like a significant hurdle to growing your business, but you have to look at the bigger picture. Think about the capabilities of your business after you’ve used the borrowed funds to grow: Will you double/triple your revenue? If so, the higher interest rate might not play as big of a role as you thought.

$6 Million Loan Qualifications

$4 Million Business Loan

2 Year in Business

Newer businesses can secure the capital they need to grow

$4 Million Business Loan

$120K in annual revenue

If your business produces $10,000 in monthly revenue, you can qualify for a business loan

No minimum credit score

We can find financing options for businesses with excellent or poor credit.

The businesses that can display the strongest financials often receive the most favorable rates and terms. Other businesses can still secure the capital they need to grow, but it might be a bit more difficult to find a lender.

You’ll need options, so make sure to hit the ground running and do the necessary research. By doing so, you can find a lender with terms that fit your needs and, most importantly, grow your business without restriction.

Will I Need to Offer Collateral for a $6 Million Business Loan?

One way that businesses can receive better rates and terms is by offering a valuable asset as collateral. This acts as a method of “securing” the loan and gives the lender an extra guarantee that you’re committed to repaying the borrowed amount.

You can offer a variety of assets as collateral, including real estate, equipment, or vehicles. 

Many entrepreneurs try to avoid offering collateral because they don’t want to risk losing a critical asset if they end up defaulting on their payments. It’s a valid concern, but if you’re on top of your payments and running your business, you likely won’t find it difficult to pay back the borrowed amount within the term.

How Much Will a $6 Million Business Loan Cost?

The price you’ll pay on your 6 million dollar business loan will depend on various factors, including:

  • Your business’s financial information
  • The type of loan you secure
  • The length of your repayment terms
  • How long you’ve been in business
  • The lender you’re doing business with
  • The current FED interest rates

Interest rates generally fall between 7% and 15% APR, and repayment terms for a $6 million business loan are usually between 7 and 25 years. The specific rate you pay, however, will depend on the factors above.

You might think that opting for shorter repayment periods will save money in the long run. While it may lower the amount you pay in interest, you should be careful not to overwhelm the capabilities of your business. 

Shorter repayment periods mean higher monthly payments, and if you can’t handle them, it’s easy to lose your grip and find yourself in a situation where you’re struggling to repay your loan.


You’ll need to speak with multiple lenders to ensure you’re getting the best deal, even if you boast strong financial information. There’s always a better deal out there; You just need to find it.

Make sure you have everything in order before you speak to lenders to avoid wasting time. You’ll need all your relevant financial information, and you may need to offer a detailed plan on how you intend to use the borrowed amount in order for your lender to approve you for financing.

Even if they don’t require a detailed plan, it’s always a good idea to have. Taking the time to write out your plan will help you notice inconsistencies, issues, and challenges in your business, letting you reposition yourself to be a much stronger organization

Loan Application Process for a $6 million business loan

National's simplified small business loan application process removes the usual pain and frustration, giving you more options to choose from


Your business must be generating a minimum of $10,000 in monthly revenue to qualify


Young and growing businesses can still find financing options


Go from application to approval much faster than with traditional lenders

We take an educational approach to helping you get the best option.

By explaining—rather than selling—we can help you find the right loan for your business.

Different Types of 6 Million Dollar Business Loans

There are a few formats in which you can receive your 6 million dollar business loan, with each option having unique benefits and drawbacks. Here are some of the most common types of $6 million business loans:

3.1 Term Loan

Term loans are given in one-time, lump sum payments that you must repay within the term outlined by your lender. You can use a $6 million term loan for almost any business purpose, including working capital management, expanding inventory, hiring additional staff, and purchasing a new building for your operation. 

However, you might need to offer a detailed plan on how you intend to use the borrowed funds to your lender. While this might seem unnecessary, it’s an extra security measure for the lender, and, more importantly, it’s an opportunity to plan out how you’ll use your financing in your business, which can help you streamline your growth.

3.2 Business Line of Credit

Business lines of credit are one of the most flexible financing options available to entrepreneurs. They’re a revolving line of credit that you can draw on whenever you need capital. When you repay the borrowed amount, you can draw on the same funds again, allowing you to stay one step ahead of the latest challenge. 

Unlike a business credit card, you can draw physical cash with a business line of credit. Many entrepreneurs will also use this financing option with another loan to manage their working capital as they pay back the more significant payment.

3.3 SBA Loans

SBA loans are some of the most coveted financing options because of their high borrowing amounts and competitive interest rates. The SBA 7(a) program allows you to borrow up to $5 million, and while that won’t allow you to borrow $6 million, it can get you most of the way there.

You can secure a $5 million SBA loan and a $1 million loan from an online lender to meet your $6 million needs. The options are endless, especially with SBA loans having some of the lowest interest rates on the market.

3.4 Invoice Financing

Invoice financing is an avenue to turn outstanding customer invoices into cash today. Otherwise known as accounts receivable financing, this option takes a percentage of your total outstanding payments and gives you cash in the short term, allowing you to pay expenses, increase inventory, and grow your business.

You’ll need to have at least $6 million in outstanding receivables to secure $6 million in capital through invoice financing because of the percentage you’ll pay to the lender for their assistance. But, if your business commonly deals with late customer payments, it can be a great way to finance your growth at a minimal cost to your operation.

3.5 Business Advance

Business advances are essentially a cash advance on your future sales. Your lender will review your financial information, including your annual revenue and outstanding payments, and determine if your business qualifies for this type of financing.

Once you’re approved, the lender grants a lump sum payment with your funds, which you can use to support your growth. Remember: You’ll need to generate at least $6 million in annual revenue to qualify for a $6 million business advance.

Streamline Your Search for 6 Million Dollar Business Loan Options With National Business Capital

Growth isn’t cheap, and neither is managing the day-to-day operations of your business. Whether you’re a relatively new business or you’ve operated for years, there’s a high likelihood that you’ll find yourself in a situation where you need capital for one reason or another. Some entrepreneurs might choose to sacrifice other areas of their budget to shift funds around, which only weakens the integrity of their operation.

You don’t want to go backward; You want to prioritize your growth. Rather than jeopardize your business by cutting the budget, you can secure a 6 million dollar business loan to help you afford opportunities and take your business to the next level.

Researching for 6 million business loan lenders takes time, but you can streamline your search through a marketplace of lenders, like National Business Capital. Our team of experienced Business Finance Advisors does the heavy lifting for you, taking the time to learn about your business and your challenges to connect you with best-fit financing solutions. We work with you every step of the way, genuinely care about your business, and have finely tuned our process to prevent you from wasting time and resources. Can it get any better?

If you’re ready to see your options, complete our streamlined, digital application to kickstart your search for a 6 million dollar business loan. 


What Credit Score Is Needed for a 6 Million SBA Loan?

Typically, you’ll need at least a 640 FICO score to qualify for an SBA loan, but you should try to start the process with the strongest credit score possible. Some entrepreneurs choose to proactively strengthen their credit prior to applying to increase their odds of reaching an approval. If you find it difficult to qualify for the SBA 7(a) and 504 programs, you might find it easier to meet the eligibility requirements of the SBA microloan program, which features a maximum borrowing limit of $50,000.

Do Business Loans Look at Personal Credit?

Some lenders will evaluate both your business and personal credit before approving you for a business loan. Both of these resources provide the lender with an accurate picture of your ability to repay the borrowed funds within the term, so poor business or personal credit can affect your ability to convince a lender you’re trustworthy enough for a loan. However, that doesn’t mean it’s impossible to secure a business loan with favorable terms while having less than stellar credit; You’ll just have to search a bit more thoroughly to find the right lender for your circumstances.

Which Bank Is Best for a Business Loan?

There is no “best” bank for business loans. Most entrepreneurs find it easiest to leverage the banking institution they deal with for business loans, but this won’t work under all circumstances. Some entrepreneurs would find more benefit in securing a business loan from an online lender over a bank or credit union, while others might feel that the terms offered by their bank are perfect for their situation. For the best results? Team up with a FinTech marketplace, like National Business Capital, to review competitive, best-fit options that are tailored to your specific needs.

National Business Capital is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure $2 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!