As a small business owner, you might not think that personal credit history matters for small business loans. But commercial lenders consider your credit score the same way consumer lenders do. Late payments can lower your credit score, which might be an issue.nnYou'll likely still qualify if you meet the lender's minimum credit score requirement and only have one late payment. However, the lender might not approve the loan request if you have a history of late payments.nnBad credit business loans are available if you're still repairing your credit but need urgent funding. However, business loans for bad credit typically have higher interest rates and fees. In addition, you will likely receive a lower borrowing amount and shorter repayment terms.nnThe upside to a business loan with bad credit is that you'll typically work with an online lender or alternative business lending marketplace (like UCS). That means business loans with bad credit often have convenient online applications with fast approval and funding times.nnSee our Best Bad Credit Business Loan guide for more information.