Best Large Business Loans ($500K to $5M)

To borrow between $500,000 and $5 million, the best options are: Merchant Fund Express if you need a fast decision based on your sales and deposits; a standard SBA 7(a) loan if you qualify and can wait, because it usually costs less; the SBA 504 for buying real estate or major machinery; a conventional bank loan if you already have a strong track record with your bank; and equipment financing when the money is for a machine or a fleet.

At this size, a funder stops looking only at your credit score. It studies the business's real ability to repay, your financial statements, who the owners are and, often, what backs the debt. Below we break down each option, what it asks for and who it fits.

How we chose these options

We don't use ratings, scores or made-up rankings. We compare every option on the same criteria: speed to a decision, minimum time in business, minimum credit, whether it accepts owners with an ITIN or no SSN, which documents it requires, which amounts it covers and whether it requires collateral. Program details come from each program's official site, checked in October 2026. If we couldn't confirm a fact, we left it out. You can read the full method in how we rank business funding options.

One honest note: with large amounts, the cheapest option is almost always the slowest and the most paperwork-heavy. The fastest one almost always costs more. The order of this list doesn't mean one option is right for everyone.

The best options from $500,000 to $5 million

1. Merchant Fund Express (recommended funder). Handles amounts from $5,000 to $5,000,000, and decisions often come in 2 to 4 hours. It considers credit from FICO 500, although stronger credit and stronger cash flow usually bring better offers. Approval is based on your sales and deposits, not just your score, and collateral is not required in most cases. This is the option for an owner with strong sales who needs to move quickly: a big order, a second location or a season that won't wait.
2. Standard SBA 7(a) loan. According to the SBA, it covers $350,001 to $5 million, with an SBA guarantee of up to 75% to the lender. You and the bank negotiate the rate, but it can't exceed the SBA maximum. It's one of the cheapest options if you qualify, but the process is long and requires financial statements, tax returns and, when assets are available, collateral.
3. SBA 504 loan. Long-term, fixed-rate financing for major fixed assets, like buying your building or heavy machinery. The SBA lists a maximum of $5.5 million with terms of 10, 20 or 25 years, and it runs through a Certified Development Company (CDC) alongside a bank. It can't be used for working capital.
4. Conventional bank loan. If you've banked with the same institution for years, show profits on your tax returns and have assets to pledge, a conventional loan can be competitive. Requirements vary widely from bank to bank, so ask for the checklist in writing.
5. Equipment financing. When the money is for trucks, machinery or medical equipment, the equipment itself backs the debt. It's often easier to get approved than a general loan of the same size, but it only pays for that equipment.
6. SBA 7(a) Working Capital Pilot (WCP) line. The SBA describes it as a line of credit of up to $5 million for businesses with at least one year of operations that can provide current financial statements, receivables and inventory reports. It fits manufacturers, wholesalers and professional services firms that sell on terms.

Side-by-side comparison

What funders look at when you ask for more than $500,000

On a $30,000 loan, many funders decide with three months of bank statements. At $500,000 and up, the review goes much deeper. Be ready for these points:

• Ability to repay. They compare what the business has left over each month with the new payment. If the payment eats almost all your margin, the answer will be a smaller amount.
• Sales history. Steady or growing sales count for more than one great month. A signed contract helps explain a jump.
• Financial statements. A recent profit and loss statement and balance sheet, prepared by an accountant if possible.
• Tax returns for the business and the owners. If you report less income than you actually earn, that caps the amount.
• Current debts. Loans, advances and leases you already pay. Keep a list with balances and payments.
• Use of funds. For large amounts, explain on one page what the money is for and how it produces the income that repays it.

To get all of this organized before you apply, use our business loan documents checklist.

The SBA citizenship rule and what's left

Since March 1, 2026 (SBA Procedural Notice 5000-876626 and SOP 50 10 8), 100% of the direct and indirect owners of a business applying for an SBA 7(a) or 504 loan must be U.S. citizens or U.S. nationals whose principal residence is in the United States. Lawful permanent residents with a green card can no longer own any share of the business in those programs.

That changes the map for many mid-sized immigrant-owned businesses. If one partner has a green card, an ITIN or another status, the SBA is off the table even if the business has years of strong sales. In those cases, the real routes are private revenue-based financing, equipment financing and conventional bank loans that don't run through the SBA. Merchant Fund Express accepts applicants with an ITIN (no SSN needed) and offers Spanish-speaking support. For questions about your own immigration situation, talk to an immigration attorney; we only cover financing here.

To see the other routes besides the SBA, read the best SBA loan alternatives.

Common mistakes with a large loan

• Borrowing more than you need "just in case." Every extra dollar costs you. Size the loan from the project's numbers, not a guess.
• Using short-term money for a long-term purpose. Buying a building with a daily-payment product squeezes your cash for months. For real estate, look at the 504 or a bank mortgage first.
• Applying everywhere at once. Several hard inquiries in a few weeks can lower your score. Start with options that don't affect your credit when you apply.
• Forgetting closing costs. Appraisals, origination fees and SBA guarantee fees add to the cost. Ask for the full breakdown in writing.
• Not reading what you're pledging. On many large loans you sign a personal guarantee. Understand what you're putting at risk before you sign.

For more on borrowing at this level, see the best funding over $100K.

Which option fits your situation

• You need the money in days and have strong sales: our recommended funder. Apply once, see your offer and decide. Applying is free and doesn't affect your credit.
• You can wait, you're a citizen and your financials are clean: standard SBA 7(a).
• You're buying your building or long-life machinery: SBA 504 or a commercial mortgage from a bank.
• You're buying trucks or heavy equipment: equipment financing.
• You sell on terms and your receivables keep growing: a WCP-style line or a bank line of credit.

Many businesses combine options: a 504 for the building and private working capital to get operations running while the first payments come in. If you do that, make sure the total of all payments still fits your cash flow. Leer en español.