Best Business Loan 2026 | Read Our Guide

2025 was defined by a long-awaited stabilization. The wave of bankruptcies we saw previously has subsided, and the business climate is now holding steady, at a 1.26% bankruptcy rate.

A combination of favorable shifts, including falling interest rates (with Stibor 3M dipping below 2%) and new regulatory changes, such as the increase of VAT registration threshold to 120 000 SEK, have created a more favorable environment for business growth. Looking ahead to 2026, we expect increased competition among niche and challenger banks. This shift is driving more attractive loan terms and greater choice for business owners.

This article is based on an analysis of more than 20 000 loan offers from over 30 different lenders and banks available through our platform, used to identify the best business loan options.

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The Best Business Loans of 2026 – Our Top Picks

• Froda
• Marginalen Bank
• Qred Bank

The table below presents the winners in each category. Each category includes three top performers, with the exception of "Most Flexible Business Loans", where only one lender met the criteria.

Market Analysis 2025: From Uncertainty to a Selective Recovery

Overall Market Outlook: A New Economic Equilibrium

During 2025, the Swedish economy entered a phase of cautious stabilization after several years of heightened uncertainty. The most notable trend is that the sharp rise in bankruptcies has now leveled off. Although the total number of bankruptcies remains historically high, 10158 in 2025 compared with 10 157 in 2024, the bankruptcy rate has fallen from 1.30% to 1.26%. This development reflects an economy that is beginning to fins a new equilibrium, even though many companies still face strained financial and low reported profitability. (Creditsafe, 2025)

While 2024 was dominated by cost-cutting , 2025 shows signs of a more positive outlook and a renewed willingness to start and run businesses. This is reflected in an 11% increase in a new limited companies being registered. One contributing factor is the raised VAT exemption threshold, which was increased from 80 000 SEK to 120 000 SEK on January 1, 2025 (Skatteverket, n.d.). This change has lowered the barriers to entrepreneurship and improved cash flow for smallest companies.

Industry Analysis: A split market

The market is showing a clear divide between export-dependent industry and sectors driven by domestic consumption:

• Industrial recovery: The industrial sector is leading the recovery, with bankruptcies falling by 10% (Creditsafe, 2025). This stabilization is supported by rising purchasing managers´ indices (PMI) and increased production, indicating improved activity in the sector (Ekonomifakta, 2026; SCB, 2025). In addition, the impact of global trade barriers has eased. According to the Swedish Enterprise's business panel, Swedish companies have largely been able to pass the cost of U.S import tariffs on to customers, reducing the direct financial burden on Swedish exporters (Svenskt Näringsliv, 2025)
• Challenges in retail and construction: Domestic-facing sectors are still struggling. Retail saw a 16% increase in bankruptcies, totaling 1135 cases. In the construction industry, bankruptcies fell by 5% compared with 2024, but with 1719 bankruptcies, it remains the sector with the highest number of insolvencies. The trucking sector also recorded an 18% increase, reflecting the pressure on transport companies demand declined (Creditsafe, 2025).

Financial Conditions: Lower Rates but Stricter Lending

The financial landscape in 2025 was shaped by falling interest rates. The market rate, 3-month STIBOR, dropped from an average of around 2.6% at the end of 2024 to below 2% by the end of 2025.

Despite lower interest rates, the credit market became more selective. Banks' cautious stance and stricter collateral requirements contributed to low credit losses (Riksbanken, 2025) At the same time, this has made it harder for some companies to secure financing, as reflected in Krea's data:

• Increased demand: the number of financing applications through Krea rose by 7% in 2025 compared with 2024.
• Tighter standards: The share of approved and funded loans through Krea declined during the year, indicating that lenders have become more restrictive in their assessments.

Outlook 2026: Toward a More Stable Market and Fewer Bankruptcies

The outlook for 2026 is generally positive. According to Henrik Jacobsson, CEO of Creditsafe, the number of bankruptcies is expected to decline as the economy gradually improves and household finances strengthen (Creditsafe, 2025)

In summary, Swedish business is moving away from aperiod of systematic risk toward a more normalized business cycle. For companies, this means the focus is shifting from simply navigating uncertainty to pursuing strategic growth, although access to capital will require stronger financial discipline than before.

What's Happening with Banks and Lenders in 2025

Key Trends Shaping the Market

The business lending market was very active in 2025 and was driven mainly by two key trends. These are summarized in the table below.

New Players and Growing Market Shares

Based on current trends, several new players have entered the market while existing lenders have successfully increased their market share.

Updates from Niche Banks

• Northmill Bank launched business loans 2024 and continued to expand its lending in 2025. Its loan portfolio grew, with total loans funded exceeding 800 SEK million
• Resurs bank hired several key personnel in 2025 and approved its first business credits that same year. Resurs Bank now offers business loans, revolving credit, and invoice factoring and has introduced a form of inventory financing for larger car dealerships.
• Other new players: Jiro, Finansfabriken, Fuels, Flow & Partner and Alisa Bank.

Real Estate Loans: More Lenders Offering Better Terms

In addition to business loans, several banks have started offering real estate financing with increasingly attractive terms. The property market is currently restructuring, and major banks have become more cautious over the past year due to weaker economy and housing market. Against this backdrop, niche banks have increased their exposure to the real estate segment. Examples of lenders that entered the market during 2024 – 2025 and have built sizable loan portfolios include Coeli and Nordiska.

Bank – Fintech Partnerships

In February 2025, the digital challenger bank Lunar entered a deeper partnership with fintech company Froda. As a result, Lunar now offers integrated business loans directly within its app to Swedish small business owners, while Froda provides the underlying technology and credit assessment.

Evaluation Criteria and Winners of the Best Business Loan

We determine the best business loan 2026 based on four key criteria. The analysis is built on insights from more than 20 000 loan offers from 2025, as well as feedback from customers ans partners. Our evaluation criteria are:

• Flexibility
• Cost
• Time to Payout
• Approval Rate

The Most Flexible Business Loan

To qualify as the most flexible business loan, a lender must meet following requirements:

• No setup fee: There are no upfront costs when your loan is approved or paid out.
• No early repayment fee: You can repay the loan early without any additional charges.
• Option for payment break: you can pause principal repayments during the loan term and only pay interest.

Winner – Most Flexible Lender:

1. Froda, as it meets all three criteria.

Other strong alternatives

• Marginalen Bank and Lendify: Both lenders offer business loans with the option to pause payments and no early repayment fees. However, they do not reach the top spot because their financing solutions typically include a setup fee.

Niche Financial Solutions

• Treyd: offer specialized purchase financing. The service has no setup fee or early repayment fee, and you only pay interest on the amount you use.
• Quickpaid: Offers both purchase and sales financing solutions. Like Treyd, Quickpaid does not charge a setup fee or early repayment fee.

Lowest-Cost Business Loan

For this criterion, we analyzed the lowest effective interest rates offered by banks and lenders through our platform in 2025. The figures presented are calculated as an average for the year.

Winner – Lowest-Cost Lenders:

1. Aros Kapital, with an effective annual interest rate of 10.2%
2. Fedelta , with an effective annual interest rate of 12,2%.
3. Marginalen Bank, with an effective annual interest rate of 14,3%.

Fastest Business Loan Payouts

For this criterion, we analyzed 2025 data to determine the average time to from when a customer accepts an offer to when the loan is paid out. This provides a clear picture of which lenders have the most efficient process.

Winner – Lenders That Fund Business Loans Fastest:

1. Jiro, with an average of 1.7 days.
2. Froda, with an average of 3.1 days.
3. Qred, with an average of 4,5 days.

Lenders With Highest Payout Rate

The final criterion is payout rate, which shows how often a selected loan offer actually results in a funded loan (number of funded loans / number of accepted offers). A high payout rate indicates that the lender is reliable and delivers on its initial offers.

Winners – Lenders with the Highest Payout Rates:

1. Marginalen Bank
2. Froda
3. Qred

Conclusion: Which is the Best Business Loan in 2026?

Based on data from our platform in 2025, and an analysis where flexibility, cost, time to payout and payout rate are weighted equally, we have named Froda the lender offering the best business loan for 2026. Froda is the strongest overall and ranks in the top spot in three out of four categories: high flexibility, fast payout and a high payout rate.

Marginalen Bank and Qred follow as strong alternatives. Marginalen stands out particularly for its combination of low cost and high payout rate, while Qred is among the fastest lenders for payouts and maintains a strong reliability.

Our Analyses form Previous Years

By analyzing 2025 data, we determine the best business loan for 2026. To view our earlier analyses and comparisons, read more about the best business loans for 2025 and 2024.