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Small Business Unsecured Loans

Access Funds, Even Without Assets

Apply for an unsecured small business loan to help you start or grow your business without the stress of pledging collateral.

Unsecured Business Loan Details

woman smiling as she takes money from customer
  • Loan terms up to 5 years
  • Fixed rates for easy budgeting
  • Loan amounts up to $25,000
  • No minimum time in business required
  • The business must be located in or headquartered in Illinois, Missouri, Indiana, Wisconsin, or Iowa.

Key Features & Benefits

Access to Capital Without Requiring Collateral


Unsecured Business loans are secured by a personal guarantee, so they don't require you to pledge assets as collateral.

Convenient Terms and Competitive Rates


You'll make monthly payments that reimburse the loan plus interest, based on your agreed-upon repayment terms.

Industry-Specific Financial Guidance


We're an experienced small business loan provider, and our team is here to advise business owners specializing in construction, home services, professional services, healthcare, and more.

Compare Loan Options

Unsecured LoansSecured Loans
Can Be Ideal for Businesses Who:
  • Have good credit or who otherwise meet the lender requirements.
  • Have no eligible collateral.
  • Don’t want to pledge their property as collateral on a loan.
  • Need low-cost capital.
  • Need a larger or longer-term funding option.
  • Need to make a large purchase.
Unsecured Loan
Can be ideal for businesses who:
  • Have good credit or who otherwise meet the lender requirements.
  • Have no eligible collateral.
  • Don’t want to pledge their property as collateral on a loan.

Secured Loans

Can be ideal for businesses who:
  • Need low-cost capital.
  • Need a larger or longer-term funding option.
  • Need to make a large purchase.

Ready to Grow Your Business?

1. Gather Your Documents Proof of income, identification, and details of the collateral you will use to secure the loan.
2. Complete the Application Start your application process below, or call 1‑855‑696‑4352, option 5 to speak to a Loan Specialist.
3. Get Approved

Our team will review your application and provide a decision.

Frequently Asked Questions

What is an unsecured loan?

While some loans require collateral in the form of business or personal assets, unsecured loans offer collateral-free borrowing.

How much can I borrow?

Your small business can qualify for up to $25,000. We also have financing solutions for businesses needing capital over that amount.

What are the benefits of an unsecured loan?

An unsecured working capital loan is a low-risk way to finance your next move. Whether you're purchasing office space, updating equipment, refilling your inventory or expanding your team, our unsecured loans can fund your efforts without asking for collateral. You can obtain up to $25,000 to use immediately while facilitating the growth to make the repayment even easier.

What are the eligibility requirements for a small business unsecured loan?

Midland’s eligibility requirements for a small business unsecured loan include the following: 

  • The business must be located or headquartered in Illinois, Missouri, Indiana, Wisconsin, or Iowa.
  • The company must be registered with the Secretary of State in good standing. However, this is not required for sole proprietors.
  • No minimum time in business required.
  • Financing amount must be under $25,000.

How do I pay my bill?

We offer virtual payment options through our online and mobile banking services. You can even schedule automatic payments for peace of mind.

What if I need financing over $25,000?

Our commercial team is ready to find the financing solution for you. Learn more about our commercial lending options here.

All lending products are subject to application and credit approval.

Prefer Personal Assistance?

Our team of dedicated professionals are here to support you.

Open Your Account Get started online in just a few minutes—fast, easy, and secure. Start Now
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Refer. Earn. Repeat.

Tell a friend about Midland States Bank, and you’ll BOTH get $50 when they open a checking account and keep it open for 90 days.

 Refer Today!