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:
- National Funding: Best for overall customer service and custom loan options
- QuickBridge: Best for minimal paperwork requirements
- Fundbox: Best credit line for covering short-term expenses
- Creditfy: Best credit line for high credit limits
- SBG Funding: Best for long-term equipment financing
- Lendio: Best broker for multiple loan options
- OnDeck: Best for quick access to funds
- Bluevine: Best for established businesses with high revenue
- 1West: Best for large loan amounts with bad credit
- American Express: Best for low-revenue businesses
Need funding for your business? Unsure where to turn for trusted solutions? Fill out our secure online application in minutes to access custom financing options. | ||
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Need funding for your business? Unsure where to turn for trusted solutions? Fill out our secure online application in minutes to access custom financing options. |
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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 | $400,000 | 5 years | Varies | 600 | $250,000 |
 Provider | $400,000 | 18 months | Varies | 600 | $250,000 |
 Provider | $150,000 | 24 weeks | 10% | 600 | $100,000 |
 Broker | $5 million | 7 years | Varies | $100,000 | |
 Provider | $5 million | 7 years | 10% | 500 | $250,000 |
 Broker | $5 million | 10 years | Varies | $5 million | $50,000 |
 Provider | $250,000 | 24 months | 29.9% | 625 | $100,000 |
 Provider | $250,000 | 12 months | 6.2% | 625 | $480,000 |
 Broker | $10 million | 5 years | Varies | 500 | $120,000 |
 Provider | $250,000 | 18 months | Varies | 660 | $36,000 |
National Funding: Best Overall for Customer Service and Custom Loan Options
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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, equipment financing |
Qualifications | |
Credit Score | 600 |
Time in Business |
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Annual Revenue | $250,000 |
Why We Like National Funding
National Funding consistently receives high ratings from customers on multiple third-party platforms and review sites. So if you’re looking to work with a lender that can offer a high level of service, National Funding is an excellent choice. You’ll be paired with a dedicated loan specialist who will provide options based on your specific business needs and goals.
The provider offers equipment financing and small business loans that can be used for different business purposes. Some examples can include working capital loans to cover day-to-day expenses, payroll, and stocking inventory. National Funding typically issues loans with a short repayment period, although it does also offer equipment financing for longer repayment terms.
To further incentivize faster loan repayments, it also offers early payment discounts. For instance, on its working capital loans, you can get up to a 7% discount on the remaining balance if the loan is fully paid off within the first 100 days.
National Funding can work with newer businesses and those with lower credit scores. It places a larger emphasis on your business finances and has one of the higher annual revenue requirements in our guide.
To learn more or to apply, visit the National Funding website.
QuickBridge: Best for Minimal Paperwork Requirements
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Rates & Terms | |
Starting Interest Rate | Factor rates as low as 1.11x |
Estimated APR | Varies |
Loan Amount | $10,000 to $400,000 |
Repayment Term | 4 to 18 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 We Like QuickBridge
QuickBridge offers a similar product to that of National Funding. However, it was ranked lower on our list because it does not offer equipment financing or the ability to make loan payments monthly. Other than those two main differences, QuickBridge is nearly identical in terms of the competitiveness of its rates, fees, qualification requirements, and customer service levels.
Most businesses that work with QuickBridge should have an easy process from start to finish. This includes a short loan application, minimal paperwork required for loan approval, and funding in as little as 24 hours. You’ll also get similar levels of customer service compared to National Funding, as well as the ability to work with a dedicated funding specialist.
Due to the similarity between the two providers, it may be in your best interest to get quotes from both companies if you’re considering either one. To learn more or to submit a loan application, you can head over to the QuickBridge website.
Fundbox: Best Credit Line for Short-term Expenses
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Rates & Terms | |
Starting Interest Rate | 4.66% |
Estimated APR | 10% to 79% |
Loan Amount | Up to $150,000 |
Repayment Term | 12 or 24 weeks |
Repayment Schedule | Weekly |
Funding Speed | As fast as 24 hours |
Loan Type | Line of credit |
Qualifications | |
Credit Score | 600 |
Time in Business | 6 months |
Annual Revenue | $100,000 |
Why We Like Fundbox
Fundbox offers a small business line of credit with an easy application, approval, and funding process. You can apply online and get a decision in as little as three minutes. If approved, you could even get access to funds as fast as the next business day.
Fundbox also has easy qualification requirements. It’s able to offer financing to startups and those with lower credit scores. To get approved for financing, you’ll need to be based in the U.S. and have a business checking account. You may check out our guide to the best small business checking accounts for our recommendations.
One potential downside with Fundbox is the fact that it only offers a weekly payment plan. This increased payment frequency could impact your cash flow negatively, depending on when you need to pay your other business expenses and when you typically receive income from sales or other business operations.
To apply or learn more about Fundbox’s line of credit and its other products and services, you can check out the Fundbox website.
Creditfy: Best Credit Line for High Credit Limits
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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. It offers a small business line of credit with limits as high as $2.5 million. It can fund startups and businesses with lower credit scores and has 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.
As a loan broker, 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 submit an application. 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.
SBG Funding: Best for Long-term Equipment Financing
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Rates & Terms | |
Starting Interest Rate | 3.75% |
Estimated APR | 10% and up |
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 | 500 |
Time in Business | 6 months |
Annual Revenue | $250,000 |
Why We Like SBG Funding
If you need business equipment, SBG Funding can offer one of the longest repayment terms with one of the lowest credit score requirements on our list. It also boasts an 85% loan approval rate, meaning your chances of getting funding are excellent as long as you meet the minimum eligibility criteria.
In addition to the qualification requirements listed above, you’ll need to provide at least four months of bank statements and a copy of the invoice for the equipment being purchased.
With SBG Funding’s equipment financing, it’s possible to qualify with no down payment. This can help you keep cash on hand for emergencies and other business purposes. Combined with the longer repayment period of up to seven years, it can also be beneficial for your overall monthly cash flow.
To apply, visit the SBG Funding website.
Lendio: Best Broker for Multiple Loan Options
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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, and A/R 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 like it means that with a single loan application, one of its funding managers will 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.
OnDeck: Best for Quick Access to Funds
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Rates & Terms | |
Starting Interest Rate | Not stated |
Estimated APR | 29.9% and up |
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 |
Loan Type | Term loan and line of credit |
Qualifications | |
Credit Score | 625 |
Time in Business | 1 year |
Annual Revenue | $100,000 |
Why We Like OnDeck
OnDeck offers a term loan and a line of credit, both offering quick access to funds once you get approved. For its term loans, same-day funding for up to $100,000 is available if you apply early enough on a business day. For a line of credit, you could get instant access to funds drawn, which is much faster than other providers that may require you to wait several hours or days for the funds to post.
OnDeck does not disclose its starting interest rates but mentions that its average APRs are 52% for term loans and 52.6% for its lines of credit. Those figures are based on data for loans originated in the half-year ending March 31, 2023, which is the most current data at the time of writing this article. Businesses with excellent credit, however, can qualify for much lower rates.
To apply, you can visit the OnDeck website to submit a loan application. The process is designed to be completed in a matter of minutes, after which you can work with a loan advisor to choose the best loan option for you. Note that it’s also possible to check your eligibility without any negative impact on your credit score.
Bluevine: Best for Established Businesses With High Revenue
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Rates & Terms | |
Starting Interest Rate | 6.2% |
Estimated APR | 6.2% to 78% |
Loan Amount | Up to $250,000 |
Repayment Term | 6 or 12 months |
Repayment Schedule | Weekly and monthly |
Funding Speed | As fast as 24 hours |
Loan Type | Line of credit |
Qualifications | |
Credit Score | 625 |
Time in Business | 24 months |
Annual Revenue | $480,000 |
Why We Like Bluevine
Bluevine’s requirements for time in business and annual revenue are among the highest in our guide. However, eligible businesses can take advantage of competitive rates on its small business line of credit product, something that helped it also land a spot on our list of the best working capital loans.
Its rates start as low as 6.2%. That figure is represented as a simple interest rate and assumes you draw the maximum amount on your credit line and make payments for the longest time period available. In other words, if you draw only a portion of your available credit or pay off the loan balance sooner, you could effectively pay less interest.
Bluevine offers weekly and monthly payment schedules. However, you’ll need to meet stricter qualification requirements to be eligible for the monthly plan. These requirements include a credit score of 700, at least three years’ time in business, and earn $960,000 in annual revenue.
Regardless of which payment plan you choose, you’ll need to have a valid business checking account and no bankruptcies in the prior three years. To learn more or to apply, check out the Bluevine website.
1West: Best for Large Loan Amounts With Bad Credit
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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 more than 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.
American Express: Best for Low-revenue Businesses
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Rates & Terms | |
Starting Interest Rate |
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Estimated APR | Varies |
Loan Amount | Up to $250,000 |
Repayment Term | 6, 12, or 18 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.
If you have any questions or want to learn more, you can head to the American Express website. You can also see how this stacks up against OnDeck’s product in our comparison of American Express vs OnDeck Capital.
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.
- Small Business Administration (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. National Funding 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.
