5 Best Fast Business Loans for Quick Cash

While funding speeds can vary based on the complexity of your business finances, the best fast business loans should be able to consistently disburse funds within no more than 48 hours. Other characteristics common to these lenders include a combination of having a track record of delivering excellent customer service, easy documentation requirements, and competitive rates and terms.

Many types of loans meet the criteria for a fast business loan, although keep in mind that some may have restrictions on allowable uses. I’ve researched multiple lenders and compiled a list of the best quick business loan providers and loan types to suit a wide range of business uses.

Here are our picks for fast business funding solutions:

• QuickBridge: Best overall for easy documentation requirements
• Lendio: Best for startups
• National Funding: Best for short-term financing
• Bluevine: Best business credit line for established companies
• Clarify Capital: Best for multiple loan options

Best Fast Business Loans at a Glance

QuickBridge: Best Overall for Easy Documentation Requirements

Why I Like QuickBridge

QuickBridge is my top overall pick for several reasons. Firstly, it provides flexibility in allowing funds to be used for nearly any business purpose. You also get the ability to work with a dedicated funding specialist for guidance. Finally, paperwork requirements are generally quite simple. All those factors give you a high likelihood of not only getting access to funds quickly but also having an excellent experience from start to finish.

When you visit the QuickBridge website, you can opt to complete an online application in just a matter of minutes. After this is done, you’ll discuss your loan application, needs, paperwork requirements, and funding options with your funding specialist. If approved, you can get funds in as little as one business day.

Some notable features of QuickBridge include an early payment discount for businesses that pay off the loan ahead of schedule. While a personal guarantee is required as a condition of funding, no additional collateral is needed as a condition of receiving funding.

Lendio: Best for Startups

Why I Like Lendio

Lendio is my choice as the best company for startups because of its ability to provide financing to companies with low revenue and little time in business. It can also issue financing to those with bad credit, although you may not qualify for the best-advertised rates and terms. That said, specific eligibility criteria can vary based on the loan program you’re applying for.

Lendio is a business loan broker. As a borrower, you’ll benefit from this because you’ll have multiple loan options available. Its network has over 75 lenders, and a single application with Lendio gets you considered for all of them.

This saves you time from applying to lenders separately, improves your odds of approval, and increases your likelihood of getting the best available interest rate. You also won’t have to worry about having to sift through multiple financing options on your own. When you work with Lendio, you’ll be paired with a dedicated loan specialist who will guide you through the process.

By visiting the Lendio website, you’ll see options for completing an online loan application. This should take no more than 15 minutes, after which you’ll be able to speak with a lending advisor to discuss your options, required paperwork, and next steps. Applying online can be done free of charge, has no impact on your credit score, and does not obligate you to accept any loan offer.

National Funding: Best for Short-term Financing

Why I Like National Funding

If you’re a business owner looking for short-term financing, National Funding is an excellent option. Although qualification requirements are similar to QuickBridge, this is a good option for borrowers looking for monthly repayment options instead of daily or weekly.

It can offer a high level of personalized service, competitive rates, and incentives for loans that are paid off early. For example, borrowers who get a working capital loan can qualify for a 7% discount on the remaining balance if paid in full within the first 100 days. Equipment financing customers can also qualify for up to a 6% discount if the loan is paid off early.

By working with National Funding, you’ll be assigned a dedicated funding specialist who can help you identify the best type of loan for your business needs and walk you through the entire lending process.

To apply, you can head to the National Funding website. Applications can be completed within 10 to 15 minutes, and eligible businesses can receive funding in as little as 24 hours.

Bluevine: Best Business Credit Line for Established Companies

Why I Like Bluevine

Bluevine’s small business line of credit offers a quick application and approval process, and you could get instant funding if you pair the credit line with the provider’s own checking account, something we cover in our Bluevine business checking review.

The provider is currently unable to offer financing in Nevada, North Dakota, South Dakota, and the US territories. You must also be structured as a corporation or LLC. Finally, some industries may be ineligible for any type of financing. You can review Bluevine’s list of ineligible industries.

While Bluevine already offers low starting rates, you could effectively be paying less if you pay off the loan faster. Rates are calculated as a simple interest rate and assume you draw the full amount of the credit line, making only the minimum required payments for the longest amount of time allowed. Visit the Bluevine website to submit an application.

Clarify Capital: Best for Multiple Loan Options

Why I Like Clarify Capital

Clarify Capital is another broker in this guide that’s similar to Lendio, in that it also has over 75 lenders in its network. One of the advantages of working with a broker like this is the ability to get multiple loan options without having to apply separately to different companies, and you’ll also be able to improve your chances of getting approved. For these reasons, it makes our list for the top pick for borrowers looking for multiple loan options.

When you apply with Clarify Capital, you’ll work with a loan specialist who will match you with a lender based on your business qualifications and needs. The specialist can also provide guidance on which type of loan might be best for you. Clarify Capital offers different loan options, including term loans, lines of credit, equipment financing, and SBA loans.

One downside of working with a broker, however, is that you may not know the exact loan terms or eligibility criteria for financing until after you apply. To learn more or submit an application, you can visit the Clarify Capital website.

How I Chose the Best Fast Business Loans

My selection of the best fast business loans took the following items into consideration:

• Speed of application, approval, and funding
• Ease of application process and amount of required documentation
• Maximum loan amount
• Interest rates, fees, and estimated APR
• Repayment terms
• Minimum credit score, time in business, and annual revenue requirements
• Customer reviews and ratings

When to Get a Fast Business Loan

Getting quick business funding usually means you’ll have to pay higher rates and fees to get a fast and easy business loan. However, it can be a good option if your alternative is more costly to the business or if getting access to funds allows you to take advantage of a limited-time business opportunity.

Before you get a fast business loan, I recommend you do your due diligence to ensure the funds will provide you with a net positive benefit, such as an increase in sales or the reduction of fees and penalties.

Below are some other scenarios that could indicate a fast business loan is right for you:

• You require funds to avoid being late on business debt
• You need to restock on inventory to meet demand from customers
• You seek to repair or replace equipment critical to your business operations
• You have a limited-time opportunity to acquire real estate to expand your footprint

Types of Fast Business Loans

Many different types of loans can meet the criteria for quick small business loans. Each loan type carries different terms and requirements that make it better suited for certain use cases. Below are some common fast business lending types:

• Term business loan: With a term loan, you’ll receive a single lump sum of funds. This can be a good option if you do not have recurring needs for additional funding.
• Business line of credit: This is a revolving line of credit that allows you to draw funds on an as-needed basis. This flexibility can make it a good choice for emergencies or temporary cash flow shortages. See our recommendations for the leading small business line of credit providers.
• Merchant Cash Advance (MCA): With an MCA, you can get a cash advance in exchange for a percentage of your daily credit card receipts. You could be a good candidate for this type of financing if you process a large volume of credit card sales. This is an expensive form of financing and should only be used as a last resort. Check out our top-recommended MCA providers.
• Working capital loan: This type of loan can be used to cover a wide variety of daily business expenses. Common examples include rent, payroll, and operational expenses. View our article covering the best working capital loans.
• Equipment financing: If you need business equipment, you can choose between an equipment loan or a lease. With a loan, you retain ownership at the end of the loan term. With a lease, you’ll typically have to return the equipment to the vendor. Learn more about the differences through our comparison of equipment loans vs leases.
• Revenue-based financing: Monthly payments for this type of loan fluctuate based on your company’s monthly revenue. This can be a good option for businesses that have a consistent source of revenue or have cash flow concerns in the event that sales slow down temporarily. To learn more, read our guide on how a revenue-based loan works.

Alternatives to Fast Business Loans

A tradeoff with fast business loans is that rates and fees can be higher than other types of loan options. If you can afford to wait for funding, or just want to know more about all of your financing options, here are some alternatives to consider:

• Small business credit cards: A business credit card can take 7 to 10 business days to arrive in the mail once you get approved. It can be useful for small or medium-sized purchases, as credit limits generally range from $5,000 to $50,000 or more. Many banks also provide a rewards program with options for cash back or travel redemptions. Check out our list of the best small business credit cards.
• SBA loan: SBA loans can take between 30 to 90 days to fund but can offer some of the lowest rates available. If you have good credit and strong business finances, check out our recommendations of the top SBA lenders.
• Rollover for business startups (ROBS): A ROBS is a way to access your retirement accounts tax- and penalty-free. However, it’s a complicated process that can result in fines and penalties if done incorrectly. For that reason, I recommend choosing a company from our roundup of the leading ROBS providers to walk you through the process.

Frequently Asked Questions (FAQs)

How fast can you receive a business loan?

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What is the quickest way to get a business loan?

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Why should I choose an online lender for a fast business loan?

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Bottom Line

If you need funding quickly, the lenders we’ve chosen can get you funded as fast as 24 to 48 hours. They issue a wide range of loan types, so you should be able to find one suitable for your needs and qualifications. However, even the best quick business loans often carry higher rates in exchange for getting you funded more quickly, so it’s a good idea to shop rates with multiple lenders before making any final decisions.