The best easy business loans should have simple qualification requirements that can easily be satisfied. Eligibility criteria for these loans should have a combination of low credit score and revenue requirements as well as allowing startups to get approved. Documentation requirements should also be minimal, and most of these loans should have quick funding as fast as 24 hours.
Here are our recommendations for 10 easy small business loans:
- QuickBridge: Best overall for customer service and easy documentation requirements
- National Funding: Best for custom loan options
- 1West: Best large financing options with bad credit
- SBG Funding: Best for low down payment requirements for equipment financing
- American Express: Best credit line for low-revenue businesses
- Creditfy: Best credit line for high credit limits
- Balboa Capital: Best for same-day approval and funding
- Lendio: Best broker for multiple loan options
Are you looking for business financing? Our partners at SBG Funding will guide you every step of the way to get you the offer best suited for your business. |
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Best Easy Business Loans At a Glance
Maximum Loan Amount | Maximum Loan Term | Estimated Starting Annual Percentage Rate (APR) | Credit Score Requirement | Annual Revenue Requirement | |
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Provider | $500,000 | 16 months | Varies | 600 | $250,000 |
Provider | $500,000 | 5 years | Varies | 600 | $250,000 |
Broker | $10 million | 5 years | Varies | $120,000 | |
Provider | $5 million | 7 years | Varies | 600 | $350,000 |
Provider | $250,000 | 24 months | Varies | 660 | $36,000 |
Broker | $5 million | 7 years | Varies | $100,000 or $120,000 | |
$500,000 | 6 years | 6% to 20%-plus | 620 | $100,000 or $300,000 | |
Broker | $10 million | 10 years | Varies |
| $50,000 or $96,000 |
QuickBridge: Best Overall for Customer Service and Easy Documentation Requirements
Rates & Terms | |
Starting Interest Rate | Factor rates as low as 1.11x |
Estimated APR | Varies |
Loan Amount | Up to $500,000 |
Repayment Term | Up to 16 months |
Repayment Schedule | Daily and weekly |
Funding Speed | As fast as 24 hours after approval |
Loan Type | Small business loans, working capital loans, and short-term business loans |
Qualifications | |
Credit Score | 600 |
Time in Business | 6 months |
Annual Revenue | $250,000 |
Why We Like QuickBridge
Working with QuickBridge means that you’ll go through a simple application process along with minimal paperwork required to get approved. For these reasons, it was also selected for our list of the best working capital loans.
Applications can be completed online in just a matter of minutes, after which you’ll be assigned a dedicated funding specialist to guide you through the process of getting approved and funded. Initial credit decisions can usually be made in just a few hours.
QuickBridge provides a wide range of financing solutions. Some examples include working capital, receivable financing, short-term loans, and daily payment financing. Funding programs for more specific business uses are also available for things like tax debt, business expansions, inventory financing, marketing loans, payroll loans, and renovation financing.
The provider strives to be able to play a role in its business owner’s continued growth. This is something that’s evidenced by data it collected from a 2022 analysis as it found that 80% of returning customers subsequently saw an increase in business revenue. In addition to this, former customers have rated QuickBridge highly as the provider has a 4.6 rating on Trustpilot and an A+ rating with the Better Business Bureau.
To learn more or to submit a loan application, you can head over to the QuickBridge website.
National Funding: Best for Custom Loan Options
Rates & Terms | |
Starting Interest Rate | Factor rates as low as 1.11x |
Estimated APR | Varies |
Loan Amount |
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Repayment Term |
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Repayment Schedule |
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Funding Speed | As fast as same day after approval |
Loan Type | Small business loans and equipment financing |
Qualifications | |
Credit Score | 600 |
Time in Business |
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Annual Revenue | $250,000 |
Why We Like National Funding
National Funding offers two primary loan products, small business loans and equipment financing. Its small business loans can be used for many business purposes, such as working capital, inventory, payroll, marketing, and taxes. Its equipment financing segment offers options for loans and leases for both used and new equipment.
With the exception of its equipment financing program, National Funding typically specializes in short-term loan options. As a result, it’s often a better fit for businesses that intend on paying off debt quickly.
To incentivize businesses to pay off debt faster, National Funding offers an early repayment discount:
- Working capital loan borrowers can get a 7% discount on the remaining balance if the loan is fully repaid within the first 100 days.
- Equipment financing customers can receive a discount of up to 6%.
If you’re looking to work with a lender that can offer a high level of service, National Funding is an excellent choice. Like QuickBridge, it consistently receives excellent reviews from customers. It currently boasts 4.8 stars on Trustpilot and an A+ rating with the Better Business Bureau (BBB). Much of this can be attributed to the fact that customers get paired with a dedicated loan specialist who will provide options and personalized service based on your specific business needs and goals.
To learn more or to apply, visit the National Funding website.
1West: Best for Large Financing Options With Bad Credit
Rates & Terms | |
Starting Interest Rate |
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Estimated APR | Varies based on loan type |
Loan Amount |
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Repayment Term |
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Repayment Schedule | Monthly, but may vary based on loan type |
Funding Speed |
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Loan Type | Unsecured working capital loans, A/R financing, line of credit, and equipment financing |
Qualifications | |
Credit Score |
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Time in Business |
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Annual Revenue | $120,000, but may vary based on loan type |
Why We Like 1West
1West offers multiple types of loans with low credit score requirements and large funding amounts. Depending on the type of loan you’re trying to get, you may also qualify as a newer business.
It is another loan broker on our list with over 50 lenders in its network. It utilizes an automated system, called Automated Business Lending Engine (ABLE), to allow borrowers to apply online and get matched with multiple loan offers. This process can all be done electronically without the need to speak with a loan officer. This is something that can speed up the process compared to many other traditional lenders.
Required documentation will vary based on the loan you apply for but generally involves the following:
- Three months of business bank statements
- Government-issued identification
- Voided check for your business bank account
You can visit the 1West website to learn more or to submit an online application.
SBG Funding: Best for Low Down Payment Requirements for Equipment Financing
Rates & Terms | |
Starting Interest Rate | 3.75% average monthly fixed rate |
Estimated APR | Varies |
Loan Amount | Up to $5 million |
Repayment Term | 1 to 7 years |
Repayment Schedule | Monthly |
Funding Speed | As fast as 24 hours |
Loan Type | Equipment financing |
Qualifications | |
Credit Score | 600 |
Time in Business | 6 months |
Annual Revenue | $350,000 |
Why We Like SBG Funding
SBG Funding offers financing for up to 100% of the value of the equipment you want to obtain, making it a good option if you don’t have money for a down payment. It also boasts a high approval rate of 85%, which should give more peace of mind to businesses worried about the chances of getting approved.
With that being said, businesses with weaknesses in any area of the loan application will still likely need to demonstrate compensating factors. For example, a company with a borderline credit score may need to offset it with strong finances to get funding.
Equipment loans with SBG Funding typically can issue decisions within 48 hours of applying. To expedite the process, ensure you have at least four months of bank statements and a copy of the invoice for the equipment being purchased.
To apply or learn more, visit the SBG Funding website.
American Express: Best Credit Line for Low-revenue Businesses
Rates & Terms | |
Starting Interest Rate |
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Estimated APR | Varies |
Loan Amount | Up to $250,000 |
Repayment Term | 6, 12, 18, or 24 months |
Repayment Schedule | Monthly |
Funding Speed | 1 to 3 days |
Loan Type | Line of credit |
Qualifications | |
Credit Score | 660, but can vary |
Time in Business | 1 year |
Annual Revenue | $36,000 |
Why We Like American Express
Formerly marketed under Kabbage Funding, American Express offers a small business line of credit that has one of the lowest revenue requirements in our guide. Combined with a low time in business requirement, this credit line could be an ideal fit for newer businesses that have not yet developed large streams of revenue.
With an American Express small business line of credit, you’ll be charged a monthly fee instead of a traditional interest rate or factor rate. Other than this fee, there are no origination fees, annual fees, maintenance fees, application fees, or prepayment penalties.
American Express states that the minimum required credit score is 660, although this could vary based on its evaluation of other factors such as your relationship with the bank and specific items in your credit history. You must also have a valid business checking account to get approved for financing, and you can use the provider’s own checking account to qualify. Read more about it in our American Express business checking review.
Creditfy: Best Credit Line for High Credit Limits
Rates & Terms | |
Starting Interest Rate |
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Estimated APR | Varies based on loan type |
Loan Amount |
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Repayment Term |
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Repayment Schedule | Monthly, but may vary based on loan type |
Funding Speed | As fast as 24 hours |
Loan Type | Line of credit, equipment financing, term loan, invoice financing, and bridge loans |
Qualifications | |
Credit Score |
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Time in Business |
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Annual Revenue |
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Why We Like Creditfy
If your funding needs are large but you also want the flexibility of only drawing funds when you need to, a credit line with Creditfy could be your answer. The provider offers a small business line of credit with limits as high as $2.5 million and can fund startups and businesses with lower credit scores with a loan approval rate of 90%.
If a credit line is not right for you, also consider its other loan products. These other options include Small Business Administration (SBA) loans, bridge loans, invoice financing, term loans, and equipment financing.
Creditfy allows you to work with one of its loan specialists to match you with a loan best suited for your business needs. The company states that it requires all of its lending representatives to have a minimum of two years of industry experience, increasing your odds of working with a knowledgeable representative to give you the best loan for your circumstances.
If you’re interested in Creditfy’s loan offerings, you can head over to the broker’s website to apply. Submitting an application can be done in under five minutes, does not negatively impact your credit score, and does not obligate you to accept any loan offers you might be pre-approved for.
Balboa Capital: Best for Same-day Approval and Funding
Rates & Terms | |
Starting Interest Rate | 6% to 20%-plus |
Estimated APR | 6% to 20%-plus |
Loan Amount |
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Repayment Term |
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Repayment Schedule | Varies |
Funding Speed | As fast as same day |
Loan Type | Term loan, equipment financing, commercial financing, vendor financing, and franchise financing |
Qualifications | |
Credit Score | 620 |
Time in Business | 1 year (2 years for equipment vendor financing) |
Annual Revenue |
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Why We Like Balboa Capital
If you need funding quickly, Balboa Capital is one of the few providers on our list that can issue an approval and funding as fast as the same day. It makes this possible with its application-only process, which allows for significantly reduced documentation.
Borrowers should keep in mind, however, that not all applications will be eligible for this application-only process. In general, this is only available for soft collateral loans up to $350,000 and hard collateral loans up to $500,000. Your ability to secure same-day funding will also be dependent on your responsiveness to the lender and how early in the day you apply.
Balboa Capital offers several different types of financing options, each with varying rates, terms, and qualification requirements. Meeting the minimum eligibility criteria listed also does not guarantee approval, which is the case with most lenders.
To learn more or to apply, visit the Balboa Capital website. There, you can get a free no-obligation rate quote.
Lendio: Best Broker for Multiple Loan Options
Rates & Terms | |
Starting Interest Rate |
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Estimated APR | Varies based on loan type |
Loan Amount |
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Repayment Term |
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Repayment Schedule | Monthly, but can vary based on loan type |
Funding Speed | As fast as 24 hours |
Loan Type | Term loan, short-term loan, equipment financing, line of credit, A/R financing, merchant cash advance (MCA), and startup financing |
Qualifications | |
Credit Score |
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Time in Business |
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Annual Revenue |
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Why We Like Lendio
Lendio is a loan broker with over 75 lenders in its network. Working with a broker means that with a single loan application, a funding manager can match you with the best lender based on your business needs and qualifications. This can save you time and money from otherwise having to apply separately to different lenders yourself.
In addition to offering multiple types of loans, Lendio can offer referrals and recommendations for other business services. Some examples include business credit repair services, bookkeeping services, and legal assistance.
You can submit an online application on the Lendio website. This is a process that can be done in under 15 minutes, comes at no cost to you, and will not negatively impact your credit score. If you’re not ready to apply, you also have the option of calling the company with any questions you may have.
How We Chose the Best Easy Small Business Loans
We considered the following items when choosing the best easy business loans:
- Speed of application, approval, and funding
- Amount of paperwork required for approval
- Qualification requirements, such as credit score, time in business, and revenue
- Repayment terms and schedule
- Loan amounts offered
- Loan types offered
- Interest rates and estimated APRs
- Customer reviews and ratings
Alternatives To Easy Business Loans
Many of the providers on our list have easy qualification requirements, but this can come at the cost of higher rates and less favorable loan terms. You can read our guide on how to get a small business loan for tips to make the process even simpler, but if you’re looking for financing options with better rates and terms, here are a few options you can consider:
- Small business credit card: This is a good option for small and medium business expenses, and many offer 0% introductory rates and the ability to earn cash back rewards. Our list of the best small business credit cards can help you find one that fits the bill.
- SBA loan: SBA loans take longer to get but can offer low rates for businesses with good credit and solid financials. Visit SBG Funding for help with getting an SBA loan.
- Rollover for business startups (ROBS): A ROBS isn’t a loan, but it allows you to get access to your retirement funds tax- and penalty-free to be used for business expenses. You’ll typically need at least $50,000 in your retirement account to qualify, and we recommend using a ROBS provider. Visit Guidant for assistance with the process.
Frequently Asked Questions (FAQs)
The easiest place to get a business loan is through an online lender. Online lenders tend to have more lenient requirements than traditional brick-and-mortar lenders, and funding can be received sometimes as quickly as the same business day. QuickBridge is our choice for the best easy business loan provider.
You should first check to see if you meet the minimum qualification requirements for a particular lender. You should then consider the loan’s interest rate and terms such as applicable fees, repayment schedule, loan term, and monthly payments. Other factors to think about can include whether the lender has physical branch locations, its hours of operations, and its customer reviews.
You should consider an easy business loan if you are unable to get approved elsewhere, need funds quickly, or want an easy loan process. This is because the best easy business loans typically have flexible qualification requirements, require minimal paperwork, and disburse funds quickly once you have been approved.
Bottom Line
The providers we’ve selected make the loan approval process easy. This is done with low documentation requirements, fast funding speeds, and flexible eligibility criteria. Be aware, though, that the best easy loans may come with higher rates and fees, and you should shop multiple lenders before choosing one.