The best fast business loans should be able to issue funding within 72 hours of receiving a fully completed loan application. Lenders should also have a combination of easy documentation requirements and excellent customer service.
Since the best loan will vary depending on your company’s needs, we’ve selected lenders that offer different types of loans. These lenders will also have a wide range of qualification requirements. Although fast business loans typically have higher rates and fees than traditional loans, many of our picks in this guide will still offer competitive loan terms.
Here are our picks for the 10 best quick business loans:
- Balboa Capital: Best overall for same-day approval and funding
- QuickBridge: Best for minimal documentation requirements
- National Funding: Best for personalized service
- SBG Funding: Best for custom financing terms and same-day funding
- Funding Circle: Best for businesses with good credit seeking flexible repayment terms
- Lendio: Best broker for startups and low-revenue businesses
- Creditfy: Best broker for easy qualification requirements and high approval rates
- Clarify Capital: Best broker for multiple loan options
- Credibly: Best individual provider for multiple loan types
- Bluevine: Best business credit line for established companies
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 Fast Business Loans At a Glance
Maximum Loan Amount | Estimated Starting Annual Percentage Rate (APR) | Maximum Loan Term | Required Annual Revenue | Minimum Credit Score | Total Estimated Time From Application to Funding | |
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$500,000 | 6% to 20%+ | 72 months | $100,000 to $300,000 | 620 | As fast as same day | |
$500,000 | Varies | 16 months | $250,000 | 600 | 24 hours | |
$500,000 | Varies | 10 years | $250,000 | 600 | 24 hours | |
$5 million | Varies | 7 years | $250,000 | 500 | As fast as same day | |
$500,000 | 7.49% to 15.22% | 7 years | $50,000 | 620 | 48 to 72 hours | |
$10 million | Varies | Varies | $0 to $120,000 | None | As fast as 24 hours | |
$5 million | Varies | 7 years | $100,000 to $120,000 | 530 to 600 | As fast as 24 hours | |
$5 million | 6% | 2 years | $120,000 | 550 | As fast as 24 hours | |
$10 million | Varies | 24 months | $180,000 to $240,000 | 500 to 650 | As fast as same day | |
$250,000 | 6.2% to 78% | 12 months | $480,000 | 625 | 24 hours | |
Balboa Capital: Best Overall for Same-day Approval and Funding
Rates & Terms | |
Application Time | 5 minutes |
Approval Speed | As fast as 1 business hour |
Funding Speed | As fast as same day |
Loan Amount |
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Estimated APR | 6% to 20%-plus |
Origination Fee | Varies |
Repayment Term |
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Repayment Schedule | Varies |
Financing Type | Term loan, equipment financing, commercial financing, equipment 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
With Balboa Capital, you can get a loan approval within one business hour and same-day funding. Balboa Capital makes this possible as it utilizes a streamlined application-only process for applications that meet certain criteria.
Criteria is primarily dependent on the amount of financing you need as well as the type of loan you’re applying for. For example, businesses in need of equipment financing can qualify for the application-only process for hard collateral up to $500,000 and up to $350,000 for soft collateral. If you’re in need of quick cash, you can discuss your concerns with the lender when you apply so that you can determine if you would qualify for the application-only approval process.
In addition to its lending products, Balboa Capital is also currently offering a high-yield Certificate of Deposit product from its parent company, Ameris Bank. Businesses looking to simplify finances and consolidate multiple products with a single company can consider this when choosing a lender.
To learn more about its lending products or to apply, you can visit the Balboa Capital website. There, you can provide your contact information to receive a callback with a free, no-obligation quote.
QuickBridge: Best for Minimal Documentation Requirements
Rates & Terms | |
Application Time | 10 to 15 minutes |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Loan Amount | Up to $500,000 |
Starting Interest Rate | Factor rates as low as 1.11x |
Estimated APR | Varies |
Repayment Term | Up to 16 months |
Repayment Schedule | Daily and weekly |
Financing Type | Term loans and working capital |
Qualifications | |
Credit Score | 600 |
Time in Business | 6 months (4 months business bank statements required) |
Annual Revenue | $250,000 |
Why We Like QuickBridge
If you’re looking for an easy application process with minimal paperwork, QuickBridge is a good option. It offers term loans for a variety of business purposes, with rates, terms, and qualification requirements that are nearly identical to that of National Funding.
A major difference, however, is the fact that National Funding has loan options with a monthly payment schedule, in addition to repayment terms of up to 120 months. QuickBridge only offers daily and weekly repayment options, with loan terms of up to 16 months.
This provider has factor rates as low as 1.11x for businesses with excellent credit and also offers early payoff discounts. No collateral is required, but business owners will need to agree to a personal guarantee in exchange for funding. To learn more or to apply, head over to the QuickBridge website.
National Funding: Best for Personalized Service and Loan Options
Rates & Terms | |
Application Time | 10 to 15 minutes |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Loan Amount |
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Starting Interest Rate | Factor rates as low as 1.11x |
Estimated APR | Varies |
Origination Fee | 1% to 3% |
Repayment Term |
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Repayment Schedule | Daily, weekly, and monthly |
Financing Type | Working capital, term loan, and equipment financing |
Qualifications | |
Credit Score | 600 |
Time in Business |
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Annual Revenue | $250,000 |
Why We Like National Funding
Businesses looking for a high level of service should strongly consider National Funding. In speaking with the provider, it states that over 70% of its customers are repeat clients, a sign that it consistently delivers excellent customer service and loan solutions. National Funding offers many different types of financing and can fund in all 50 states.
Working with National Funding means you’ll be paired with a dedicated loan specialist. This individual can provide tailored solutions and recommendations depending on your business needs and qualifications. Most of its loans are retained in-house, and only brokers out loans if it’s unable to get you the financing you need.
While the minimum eligibility criteria is listed above, National Funding typically does best with businesses that are already thriving, are primarily in need of funds to continue expanding, or are seeking short-term loans. If you don’t need long-term financing, early payoff discounts are available for certain loans. For instance, its working capital loans can qualify for a 7% discount on the remaining balance if paid in full within 100 days. Equipment financing customers can receive a similar discount of 6% if paid off early.
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.
SBG Funding: Best for Custom Financing Terms and Same-day Funding
Rates & Terms | |
Application Time | 10 minutes |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Loan Amount |
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Starting Interest Rate |
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Estimated APR | Varies by loan program |
Repayment Term |
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Repayment Schedule | Biweekly, weekly, and monthly |
Financing Type | Term loan, line of credit, bridge capital, equipment financing, and invoice financing |
Qualifications | |
Credit Score | 500 |
Time in Business | 6 months |
Annual Revenue | $250,000 |
Why We Like SBG Funding
SBG Funding is another provider on our list that can provide a high level of service, personalized loan options, and funding as fast as the same day. This may vary depending on your business qualifications, the type of loan you’re applying for, when you apply, and how responsive you are to the provider’s requests for clarification or documentation. With that being said, SBG Funding has been able to provide same day funding on more than one-third of its approved loans, with an even larger percentage funding within 24 to 48 hours.
One thing borrowers should note is that like many other providers, meeting the minimum qualification requirements does not guarantee a loan approval. Compensating factors may be required for businesses who are weak in any area of the loan application. For example, businesses with low credit scores may need strong cash flow to qualify.
SBG Funding offers different types of loans, including term loans, lines of credit, invoice financing, and equipment financing. To apply, you can visit the provider’s website and submit an online application. Required documents as part of the initial application include the past four months of business bank statements, a copy of your driver’s license, and a voided check for your business bank account.
Funding Circle: Best for Businesses With Good Credit Seeking Flexible Repayment Terms
Rates & Terms | |
Application Time | 6 minutes |
Approval Speed | 24 hours |
Funding Speed | 48 hours |
Loan Amount |
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Starting Interest Rate | Not stated |
Estimated APR | 7.49% to 15.22% |
Repayment Term | 6 months to 7 years |
Repayment Schedule | Weekly and monthly |
Financing Type | Term loan and line of credit |
Qualifications | |
Credit Score | 620 |
Time in Business | 2 years |
Annual Revenue | $50,000 |
Why We Like Funding Circle
Funding Circle has one of the highest credit score requirements in our guide, making it a more ideal fit for businesses with good credit. However, companies that are eligible can get a business loan with one of the most flexible repayment terms in our list.
For example, you can get up to 7 years to repay a business term loan where funds can be used for any business purpose. Other providers, by comparison, restrict the use of the funds to provide more time to repay the loan in full. Funding Circle’s business term loan can also be structured to have no set monthly payment amounts.
Funding Circle’s business line of credit can also give you flexibility in drawing funds when you need, although rates can be a little higher. It carries no application fee, no monthly maintenance fee, and no prepayment penalties. One downside, however, is that draw fees do apply.
To learn more or to submit a loan application, visit the Funding Circle website. Applications can be completed in minutes, with no impact to your credit score. After applying, you’ll be contacted by a lending representative to determine what documents you’ll need to provide as part of the loan approval process.
Lendio: Best Broker for Startups and Low-revenue Businesses
Rates & Terms | |
Application Time | 15 minutes |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Loan Amount |
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Starting Interest Rate |
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Estimated APR | Varies by loan product |
Origination Fee | Varies |
Repayment Term | Varies by loan product |
Repayment Schedule | Varies by loan product |
Financing Type | A/R financing, line of credit, term loan, merchant cash advance (MCA), equipment financing, and startup business loans |
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 business loan broker with over 75 lenders in its network. As such, you’ll have plenty of loan options and improved approval odds. It’s a good choice to consider if you’re a newer business as many of Lendio’s loan options carry low revenue and time in business requirements.
While you may not know the exact qualification requirements until after you apply, you will be able to work with a dedicated funding specialist to help you choose the best type of loan for your business needs. Lendio can also help structure and present your loan application in the best manner possible to give you the best chances of being approved and paired with a lender that has competitive rates and loan terms.
To learn more or to apply, visit the Lendio website. Applications can be completed in under 15 minutes with no obligation to accept a loan offer, no impact to your credit score, and no up front fees. Lendio also offers non-financing solutions. It can help connect you with small business credit repair, bookkeeping services, legal assistance, and more.
Creditfy: Best Broker for Easy Qualification Requirements & High Approval Rates
Rates & Terms | |
Application Time | 5 minutes |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Loan Amount |
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Starting Interest Rate |
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Estimated APR | Varies by loan product |
Repayment Term |
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Repayment Schedule | Varies by loan product |
Financing Type | Line of credit, equipment financing, term loan, invoice financing, and bridge loan |
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 you’re looking for easy qualification requirements and a good chance of getting approved, Creditfy is a good option to consider. It can work with bad credit scores, low revenue, and startups. Depending on the type of loan you’re getting, you could qualify with a credit score as low as 530, annual revenue of $100,000, or three months’ time in business.
In addition to having easy qualification requirements, Creditfy states that it has a 90% loan approval rate across all of its loan products. This includes its business line of credit, equipment financing, and term loans. With such a high approval rate, it’s another good broker to consider if you’re concerned about your odds of approval.
Another benefit of working with Creditfy is that it requires all of its loan representatives to have a minimum of two years of industry experience. As a result, you can rest assured that you’ll be working with an experienced individual when it comes to matching you with a suitable loan. Creditfy has also developed partnerships with lenders that other brokers may not yet have, which can further improve your chances of getting funding.
You can complete an online application in just several minutes. If approved, loan proceeds could be disbursed in as little as 24 to 48 hours.
Clarify Capital: Best Broker for Multiple Loan Options
Rates & Terms | |
Application Time | 2 minutes |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Loan Amount | $10,000 to $5 million |
Starting Interest Rate | Varies |
Estimated APR | 6% and up |
Origination Fee | Varies |
Repayment Term | 6 months to 2 years |
Repayment Schedule | Varies |
Financing Type | Term loan, line of credit, invoice financing, equipment financing, and MCA |
Qualifications | |
Credit Score | 550 |
Time in Business | 6 months |
Annual Revenue | $120,000 |
Why We Like Clarify Capital
Clarify Capital is a broker with 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. You’ll also be able to improve your chances of getting approved.
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.
Up to $5 million in funding is available for its fast business loans, and the broker can work with startups and businesses with bad credit. Visit the Clarify Capital website to apply.
Credibly: Best Individual Provider for Multiple Loan Types
Rates & Terms | |
Application Time | 10 minutes |
Approval Speed | As fast as 4 hours |
Funding Speed | As fast as same day |
Loan Amount |
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Starting Interest Rate | Factor rates as low as 1.11x (as low as 1.09x for equipment financing) |
Estimated APR | Varies by loan product |
Origination Fee | Varies, can be up to 2.5% or more of the loan amount |
Repayment Term |
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Repayment Schedule | Daily, weekly |
Financing Type | Working capital, MCA, long-term business loan, line of credit, equipment financing, and invoice factoring |
Qualifications | |
Credit Score |
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Time in Business |
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Annual Revenue |
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Why We Like Credibly
With the exception of the brokers we included in our guide, Credibly has the widest range of loan programs offered. It offers funding for a wide variety of business needs, including loans for working capital, MCAs, lines of credit, equipment financing, and invoice factoring. Specific terms and qualification requirements will vary depending on the financing option you choose.
One thing to note with Credibly is that while it states six months’ time in business is the minimum, companies with one year or more may have a much higher chance of getting approved. However, you should still apply if you meet the minimum eligibility criteria but be aware that you may need to show compensating factors, such as strong business finances or a large number of assets.
Visit the Credibly website to apply or to learn more about its loan programs.
Bluevine: Best Business Credit Line for Established Businesses
Rates & Terms | |
Application Time | 5 minutes |
Approval Speed | As fast as 5 minutes |
Funding Speed | 24 hours |
Loan Amount | Up to $250,000 |
Starting Interest Rate | 6.2% |
Estimated APR | 6.2% to 78% |
Repayment Term | 6 or 12 months |
Repayment Schedule | Weekly and monthly |
Financing Type | Line of credit |
Qualifications | |
Credit Score | 625 |
Time in Business | 24 months |
Annual Revenue | $480,000 |
Why We Like Bluevine
With Bluevine, you can get a line of credit up to $250,000 with rates as low as 6.2%. However, it can be difficult for some businesses to get, as the minimum annual revenue requirement is $480,000. Other requirements include a credit score of 625, at least two years’ time in business, and a business checking account, which you can learn about through our Bluevine business checking review.
Bluevine is currently unable to offer financing in Nevada, North Dakota, and South Dakota. Businesses structured as a general partnership or sole proprietorship are also ineligible.
One thing to note is that while Bluevine’s rates typically start as low as 6.2%, 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.
With Bluevine, you can make weekly repayments for up to 12 months. A monthly payment schedule is also available but requires businesses to meet additional requirements. You’ll need to have a credit score of 700, earn $960,000 in annual revenue, and be in business for three years.
When To Get a Fast Business Loan
Getting a fast business loan usually means you’ll have to pay higher rates and fees. 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, we recommend that you do your due diligence to make sure 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 need funds to avoid being late on business debt
- You need to restock on inventory to meet demand from customers
- You need to repair or replace equipment critical to your business operations
- You have a limited-time opportunity to acquire real estate to expand your footprint
How We Chose the Best Fast Business Loans
Our 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
Types of Fast Business Loans
Many different types of loans can meet the criteria for a fast business loan. Each loan type carries different terms and requirements that make it better suited for certain use cases. Below are common types of fast business loans you can consider:
- 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.
- 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.
You can improve your approval odds with some of the tips in our guide on how to get a small business loan.
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, 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, we recommend choosing a company from our list of the leading ROBS providers to walk you through the process.
Frequently Asked Questions (FAQs)
If you’re well-qualified for a loan, you can get a loan as fast as the same day. Lenders with fast business loans often have an easy application process that takes less than 10 minutes, and approvals that can be issued within several minutes.
Using an online provider is the best way to get money fast for your business. Compared to traditional brick-and-mortar banks, online providers also typically have more lenient qualification requirements and more streamlined processes for issuing loan decisions.
Online lenders often have more streamlined processes for reviewing and issuing loan decisions. They also usually have more flexibility in the eligibility criteria. However, in exchange for getting a fast funding speed, you’ll usually be charged higher interest rates and fees.
Bottom Line
If you need to get 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. 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.