The best easy business loans will offer a combination of an easy application process, low documentation requirements, flexible eligibility criteria, and personalized guidance throughout the lending process. Since the best loan will also be dependent on your specific company’s needs and circumstances, many of the best easy business loan providers will offer different types of loans, fast funding speeds, and competitive rates and fees.
I’ve researched multiple lenders and business loan brokers and compiled my picks for the best easy small business loans below. Regardless of your circumstances, you should be able to find a suitable fit from the following list:
- QuickBridge: Best overall for easy documentation requirements
- Lendio: Best for multiple loan options
- Clarify Capital: Best for personalized service
- 1West: Best for bad credit
- AdvancePoint Capital: Best for smaller loan amounts
- National Funding: Best for short-term loans
Get a business loan in 24-48 hours with Clarify Capital. |
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Best Easy Business Loans at a Glance
Maximum Loan Amount | Maximum Loan Term | Estimated Starting APR | Credit Score Requirement | Annual Revenue Requirement | |
|---|---|---|---|---|---|
 | $500,000 | 16 months | Varies | 600 | $250,000 |
| Varies | ||||
 | $5 million | 2 years | Varies | $120,000 | |
 | Varies | 500 | |||
 | $5 million | Varies | Varies | 620 recommended | Varies |
 | Varies | 600 | $250,000 | ||
QuickBridge: Best Overall for Easy Documentation Requirements
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Rates and 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, 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 I Like QuickBridge
QuickBridge offers a streamlined process that requires limited documentation required to submit an application, which is why I chose it as the best option for easy documentation requirements. This can also make it easier for businesses to prepare an application quickly and receive an approval decision in as little as a few hours. During this process, you’ll be assigned a dedicated funding specialist to guide you through getting approved and funded.
QuickBridge provides a wide range of financing solutions and was also selected for our list of the best working capital loans. Its loan offerings 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.
That said, former customers have rated QuickBridge highly, as the provider currently has a 4.7 rating on Trustpilot[1] and an A+ rating with the Better Business Bureau (BBB).[2]
To learn more or to submit a loan application, you can head over to the QuickBridge website.
Lendio: Best for Multiple Loan Options
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Rates and 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, startup financing |
Qualifications | |
Credit Score |
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Time in Business |
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Annual Revenue |
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Why I Like Lendio
Lendio is a small business loan broker with over 75 lenders in its network. You’ll have the ability to work with a dedicated funding advisor who will walk you through the process, providing assistance and guidance with the required paperwork. For those reasons, I selected it as the best overall option, as borrowers will have plenty of financing options and an excellent chance of experiencing a smooth lending process.
Its application process can be completed online in approximately 15 minutes. There is no cost to do so, nor will it negatively impact your credit score. Once you’ve submitted your application, you can compare offers from Lendio’s lending network. You can then choose the one best suited for you. If additional paperwork is required after you apply, you’ll be notified by either email or phone and can upload the necessary paperwork online.
In addition to its wide range of lending products, Lendio also offers referrals to complementary business products and services. Some examples include business credit repair, bookkeeping services, and legal assistance. Lendio also currently maintains a 4.8-star rating on Trustpilot, a testament to its dedication to delivering excellent customer service.
Clarify Capital: Best for Personalized Service
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Rates and Terms | |
Starting Interest Rate | 5% |
Estimated APR | Varies by loan product |
Loan Amount | Up to $5 million |
Repayment Term | 2 years, but may vary by loan product |
Repayment Schedule | Varies |
Funding speed | As fast as same day |
Loan Type | Term loan, line of credit, equipment financing, invoice factoring, merchant cash advance |
Qualifications | |
Credit Score |
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Time in Business | 6 months |
Annual Revenue | $120,000 |
Why I Like Clarify Capital
Clarify Capital has consistently received high client reviews, evidenced by its 4.9-star rating on sites such as Google reviews and Trustpilot. As a broker with over 75 lenders in its network, this is a strong indicator of its ability to bridge the gap when it comes to finding the right lending product for its clients. For these reasons, I selected it as an excellent option if you’re a borrower prioritizing service levels.
It offers a similar experience to many other brokers in the sense that you’ll get guidance from a dedicated loan advisor. Online applications can be completed in just two minutes, after which you can view your loan options. Submitting an application is free of charge, and only an initial soft credit pull is performed so that your credit score will not be impacted.
One notable feature of Clarify Capital is that compared with other providers, it may have more flexibility when it comes to loan approvals. I spoke with a lending representative who mentioned that even if you don’t meet the stated minimum criteria for a loan program, it could still be possible to get approved if you have other compensating factors such as good credit, collateral, or a recent upward trend in your company’s financials.
1West: Best for Bad Credit
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Rates and 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, line of credit |
Qualifications | |
Credit Score | 500 |
Time in Business | 3 months |
Annual Revenue | $60,000 ($120,000 for line of credit) |
Why I Like 1West
1West offers multiple types of loans and has some of the lowest credit scores, time in business, and revenue requirements in this guide. Depending on the type of loan you’re trying to get, this can be a good option for businesses with limited resources or credit history and is our top pick for businesses with bad credit.
It is another loan broker on our list with over 50 lenders in its network, similar to Clarify Capital and Lendio. However, it’s unique in that it uses an automated system, called Automated Business Lending Engine (ABLE), to allow borrowers to apply online and get matched with multiple loan offers with a single application. This process can all be done electronically without the need to speak with a loan officer. This can speed up the process compared with 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.
AdvancePoint Capital: Best for Smaller Loan Amounts
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|---|---|
Rates and Terms | |
Starting Interest Rate | Varies |
Estimated APR | Varies |
Loan Amount | Up to $5 million |
Repayment Term | Varies |
Repayment Schedule | Varies |
Funding Speed | As fast as 24 hours |
Loan Type | Term loan, credit line, merchant cash advance, invoice financing, equipment financing |
Qualifications | |
Credit Score | 620 recommended, but varies by product |
Time in Business | 1 year recommended, but varies by product |
Annual Revenue | Varies |
Why I Like AdvancePoint Capital
AdvancePoint Capital dedicates an entire section of its website to its fast and easy business loan products. It also has another section explaining the pros and cons of reduced documentation loans. Specifically, while they can be easier to get, it can also be difficult to qualify for larger loan amounts. For this reason, I selected AdvancePoint Capital as a more suitable fit for businesses needing smaller funding amounts, specifically around $500,000 or less.
The company was founded in 2012 and has since had over 7,500 small business customers, with over $375 million in funded loans. It also maintains a 4.8-star rating on Google reviews and an A+ rating with the BBB. It works with businesses in nearly any industry nationwide and places an especially large emphasis on quick response times to customer questions via voicemail, email, or text.
Quotes can be obtained online through the AdvancePoint Capital website, a process that can generally be completed in under 10 minutes. You’ll also have the opportunity to speak with one of its loan specialists to provide further context as to your specific company’s needs to ensure you’ll get the best product for your circumstances.
National Funding: Best for Short-term Loans
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Rates and 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, equipment financing |
Qualifications | |
Credit Score | 600 |
Time in Business |
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Annual Revenue | $250,000 |
Why I Like National Funding
I chose National Funding as the best option for short-term loans for multiple reasons. Firstly, although it offers equipment financing with repayment terms of up to five years, a representative I spoke with stated that much of its business revolves around its short-term business loans that offer much larger loan amounts. They also mentioned that most of its clients are companies that are already performing well and are looking to invest in additional growth.
Secondly, a notable feature that makes National Funding more suitable for short-term loans is the fact that it offers early repayment discounts. Term loan discounts of up to 7% are available on the remaining balance for loans paid off within the first 100 days. Equipment financing customers also get a discount, although it’s limited to 6%.
To find out what you could be eligible for, the National Funding website provides an online form you can complete. After applying, you’ll be able to work with a dedicated funding specialist to guide you through the process. Depending on the complexity of your application, it’s possible to get approved and funded within 24 hours.
How I Chose the Best Easy Small Business Loans
I 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
How to Choose a Business Loan Provider
There are a few considerations to keep in mind when shopping around for a lender, as you’ll want to work with one that fits your budget and meets your business needs. When comparing lenders, keep the following in mind:
- Consider your business needs. You’ll need to evaluate your business needs, taking into consideration how a business loan will help your business, the expected return on investment, how much you need to borrow, and how you’re planning to repay the loan.
- Review lender qualification requirements. Qualification criteria will vary depending on the lender and loan type you choose. Factors such as credit score, time in business, and annual revenue are considered during the application process. By meeting the minimum qualification requirements imposed by the lender, you increase your chances of being approved.
- Compare loan costs and terms. You should compare the various rates, terms, and other associated costs when choosing a lender. The lender you choose should also be within your budget, and offer resources that meet your business needs.
Alternatives to Easy Business Loans
If you’re unsure that a business loan is the best option for you, there are a variety of other financing options available.
- Small business credit card: As a revolving credit facility, a business credit card allows you to make purchases on an as-needed basis, with the ability to repay the balance over time. This is also a great option for covering short-term or emergency expenses. Our list of the best small business credit cards can help you find one that fits the bill.
- SBA loan: SBA loans are backed by the government and offer some of the most competitive loan rates available. These loans can take longer to get but can be worth the effort for qualifying businesses with strong financial and credit history. Visit Grasshopper Bank, our partner, for help 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 I recommend using a ROBS provider. Visit Guidant for assistance with the process.
- Friends and family loan: Instead of a traditional business loan, you can raise money from friends and family to fund your business. While there are tax regulations and applicable interest rates that will need to be taken into account, this is a less formal financing option that can often offer favorable rates and terms.
You can read our guide on how to get a small business loan for tips on the loan application process and to better your odds of approval.
Frequently Asked Questions (FAQs)
If you need quick access to funds, you should find a lender that offers same-day financing or a streamlined application process with limited documentation requirements. Timelines will vary per lender and may fluctuate based on factors such as loan type, loan amount, and your creditworthiness.
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 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
For borrowers looking for easy small business loans, you should look for a provider that offers a simple application process that requires limited documentation. Qualification criteria should also be flexible and inclusive of a variety of business needs. Keep in mind, however, that easier qualifications may come at a cost in the form of higher rates and fees, so it’s important to shop around for a lender that offers the best loan terms specific to your business goals.
