Getting a business loan from a bank can be a nightmare even if you’re well-qualified because they’re slow and require tons of paperwork. Short-term online lenders can make getting a small business loan easier. In this article, we review the rates, terms, and qualifications of the two best working capital loans: Kabbage vs OnDeck Capital.
OnDeck Capital: Best Short-Term Loan Provider
We recommend an OnDeck business loan over a Kabbage loan because it offers lower rates for prime borrowers (700+ credit score) and OnDeck can originate much larger loans. OnDeck can get you a term loan faster than traditional financing lenders, like banks. Plus, on average, OnDeck is half as expensive as a merchant cash advance.
Loan Amount: $5,000 – $500,000
Terms: Three to 36 months
Starting Rates: 9.99% APR
Expected APR Range: 30% – 50%
Funding Time: One to three days
Credit Score: 600+
Kabbage: Best OnDeck Alternative
A Kabbage short-term business loan can be a better fit than OnDeck if you can’t meet OnDeck’s revenue requirements or if you require monthly repayment terms. Kabbage business loans are much quicker and easier to get approved for than a loan from a traditional bank. They’re also more affordable than a merchant cash advance.
Loan Amount: $2,000 – $250,000
Terms: Six or 12 months
Starting Rates: 18% APR
Expected APR Range: 30% – 50%
Funding Time: One to three days
Credit Score: 550+
Kabbage vs OnDeck Capital at a Glance
|Expected APR Range|
*Updated: March 2019
Is Kabbage or OnDeck Right for Your Business?
How We Evaluated Kabbage vs OnDeck Capital
One of the most popular OnDeck competitors for the best working capital loans is Kabbage. These two are often compared because they are considered among the best short-term loans. Because it can be hard for businesses to identify the best lender, we compared the features of Kabbage versus OnDeck that matter to businesses to determine which one is best. Our criteria included the loan amount you’ll receive, the price you’ll pay, and typical repayment terms.
The criteria used in our evaluation of Kabbage versus OnDeck included:
- Rates and Costs: What interest rates and fees you can expect Kabbage and OnDeck to charge you for a short-term business loan.
- Qualifications: What factors Kabbage and OnDeck will consider when evaluating you for a short-term loan.
- Loan Amount: How much you can borrow from Kabbage and OnDeck.
- Repayment Terms: How quickly Kabbage and OnDeck will require you to pay back your loan.
- Repayment Schedule: How frequently you’ll need to make payments with Kabbage and OnDeck (daily, weekly, or monthly).
- Approval and Funding Speed: How quickly Kabbage and OnDeck will approve and fund your short-term business loan.
We believe OnDeck offers the most competitive small business loan and line of credit products. While OnDeck has a slightly higher minimum credit score requirement than Kabbage, they are able to make much larger loans to businesses. Lastly, OnDeck offers the best rates to prime borrowers (700+ credit score), who can qualify for rates as low as 9%. On the other hand, Kabbage is a better choice for those requiring monthly payments, as OnDeck offers only weekly and daily repayment options.
Why We Chose OnDeck as the Best Short-Term Business Loan
OnDeck Capital loans are our top choice as the best short-term loans for business. We chose OnDeck primarily due to its simple qualifications, large loan amount, flexible repayment terms, and quick approval speed. We believe the combination of these factors makes short-term business loans available to businesses in a wide range of financial positions.
The primary reasons we chose OnDeck as the best short-term loans for business include:
- Rates and Costs: Prime borrowers (700+ credit score) can receive interest rates as low as 9%.
- Low Minimum Qualifications: Business owners only need a credit score of 600+, $100,000 in annual revenue, and one year in business. Some OnDeck competitors require credit scores of 640+ and two or more years of business history.
- Loan Amount: At $500,000, OnDeck’s maximum loan amount is much larger than some competition, including Kabbage. OnDeck may approve you for as much as 15% of your annual revenues.
- Repayment Terms: You can choose repayment terms between three and 36 months, based on your planned use for the loan proceeds and how much you can afford to repay monthly.
- Approval and Funding Speed: You can get pre-qualified online in minutes and funded in as soon as one day. This is probably why there are so many great OnDeck reviews on the web.
Qualifying with OnDeck is a breeze, and prime borrowers (700+ credit scores) can benefit from rates as low as 9%. OnDeck is very quick to approve and fund your loan compared to other financing options. Its application is online with very little paperwork. You can get approved the same day and funded for up to $500,000 in as soon as one business day.
When to Get a Kabbage Business Loan Instead of an OnDeck Loan
Kabbage issues loans for 12 months or less with a maximum loan of $250,000. Kabbage may be your best choice if you need a small business loan for a short time. Smaller businesses will have an easier time meeting Kabbage’s $50,000 minimum annual revenue requirement, compared to OnDeck’s $100,000 requirement.
The other reasons it’s good to consider Kabbage for a short-term business loan include:
- Loan Structure: Kabbage loans work as a line of credit. You can draw what you need up to your approved limit and only pay interest on the money you use. As you pay off what you borrow, it becomes available again. OnDeck also offers lines of credit, but the qualification requirements are stricter than Kabbage’s.
- Repayment Schedule: One of their best features is that they require monthly payments, whereas OnDeck requires payments every week. While customers don’t provide as glowing Kabbage reviews as OnDeck’s, Kabbage reviews are also very good. Their monthly payments probably have something to do with this.
- Approval and Funding Speed: Kabbage is also quick to fund and like OnDeck, they can get you the money you need in as quickly as one day. With its connected Visa card, you can access funds the same day if you use the card.
With a Kabbage business loan, you can get financing up to $250,000 in one day. Plus, Kabbage gives you a Visa card to use with your line of credit. This means you have same-day access to funds when needed. If Kabbage sounds like a good fit for you, you can apply online and get pre-qualified in minutes.
When to Use OnDeck & Kabbage Competitors
OnDeck and Kabbage are both great at offering short-term working capital. However, you might want to consider an alternative to a specific niche type of financing. For example, you may qualify for a more affordable loan if you invoice customers or if you process your customer payments with a specific service, like Square or PayPal.
Common OnDeck & Kabbage Competitors
|BlueVine||Flexible business lines of credit up to $250K for recurring, short-term working capital needs.|
|LoanBuilder||Newer businesses (9+ months) and businesses needing a line of credit up to $500K.|
|Fundbox||Businesses needing up to $100K with no minimum credit score required.|
|Payability||Ecommerce businesses selling with Amazon, Walmart, and similar marketplaces needing quick access to funds.|
|Square Capital||Companies that accept payments through Square and need up to $100K in financing.|
|StreetShares||Veteran-owned businesses looking for medium-term loans up to $100,000.|
|National Funding||Business owners with poor and high credit card revenue.|
|SmartBiz||Businesses with a 680+ credit score needing up to $350K in long-term financing.|
|Small Business Credit Card||Businesses needing a smaller revolving credit line with rewards.|
When to Apply with BlueVine
BlueVine offers two products. One is invoice factoring based on the value of your invoices, and the other is a business line of credit with a minimum credit score of 600+. You’ll want to use a working capital alternative like BlueVine over Kabbage or OnDeck if you have up to $5 million in outstanding invoices.
When to Apply with LoanBuilder
LoanBuilder is a good OnDeck and Kabbage competitor if you need a small business line of credit up to $500,000. You’ll be required to make weekly payments for 13 to 52 weeks on any advances. To qualify, you need to carry a 550+ credit score and have $42,000 or more in annual revenue.
When to Apply with Fundbox
Fundbox also offers a business line of credit with up to $100,000 in financing and no minimum credit score requirement, with approval largely dependent on how much you invoice your customers. They are a good alternative to BlueVine if you only need up to $100,000 based on the value of your invoices.
When to Apply with Payability
Payability is a great OnDeck and Kabbage competitor for ecommerce businesses that sell directly on marketplaces such as Amazon and Walmart. With Payability, ecommerce businesses can borrow against future or daily marketplace accounts receivable. The benefit is you get access to your funds two or more weeks sooner than would otherwise be the case.
When to Apply with Square Capital
Square Capital is a good alternative if you currently process a large number of your customer payments through Square. You could qualify for up to $100,000 in financing directly through the Square Dashboard. This is a niche-based financing option but could be good for Square users looking for an OnDeck and Kabbage competitor.
When to Apply with StreetShares
StreetShares is an OnDeck and Kabbage competitor that offers longer-term loans and line of credit products to veteran-owned businesses and borrowers with stronger credit profiles. If you want a more affordable loan with a longer term (up to $100,000), this could be a good alternative option for you.
When to Apply to National Funding
National Funding offers a merchant cash advance for businesses that collect a lot of their revenue by accepting credit card payments. It can be twice as expensive as other online lenders, but if you have poor credit, then this is a good alternative for up to $250,000.
When to Apply with SmartBiz
SmartBiz offers fast SBA loans up to $350,000 for working capital. Terms are up to 10 years and rates start at 6.75%. If you’re a prime borrower (680+ credit score) and can wait a month or more for financing, then this is a great long-term financing solution.
When to Apply for Small Business Credit Cards
Small business credit cards aren’t typically considered Kabbage or OnDeck competitors, but they can be a good alternative solution if you need a small amount of capital. In fact, the best small business credit cards are great to have in any business’ financial toolkit, regardless of your other capital sources.
Kabbage vs OnDeck: In-Depth Comparison
It’s important to understand each aspect of Kabbage and OnDeck loans in more detail to fully understand how they compare to one another. Below we’ll look at loan requirements, terms, and costs to give you a better idea of which lender is the best choice for your business.
Kabbage vs OnDeck: Minimum Qualifications
When applying for a short-term business loan, the three main qualifications that the lender will consider are credit score, revenues, and time in business. Kabbage requires $50,000+ in annual revenues compared to $100,000+ for an OnDeck business loan, making qualifying with Kabbage easier.In addition, OnDeck has a high minimum credit score requirement at 600+, credit score compared to 550+ for Kabbage.
OnDeck Loan Minimum Qualifications
OnDeck’s minimum qualifications for a small business loan are:
- Credit Score: 600+ (check your credit score for free)
- Annual Revenue: $100,000+
- Time in Business: One+ years in business
Kabbage Loan Minimum Qualifications
Kabbage’s minimum qualifications for a small business loan are:
- Credit Score: 550+ (check your credit score for free)
- Annual Revenue: $50,000+
- Time in Business: One+ years in business
Kabbage vs OnDeck: Loan Amounts
OnDeck is the big winner if you need financing for over $250,000, because that is the maximum you can get with Kabbage. While both companies can get you funded for small amounts, OnDeck will lend up to $500,000 to businesses with better revenues and longer operating histories.
OnDeck Loan Amounts
OnDeck Capital’s maximum loan amounts are:
- Short-Term Loan: $5,000 to $500,000
- Small Business Line of Credit: Up to $100,000
Kabbage Loan Amounts
Kabbage’s maximum loan amounts are:
- Small Business Line of Credit: $2,000 to $250,000
Kabbage vs OnDeck: Approval & Funding Speed
OnDeck and Kabbage offer very quick business loans. Despite the fact that they have a pretty high cost of capital, many customers are willing to go back for second or third loans. The speed of funding is very convenient, even for prime borrowers (700+ credit score) who have the capacity to repay the funds quickly.
OnDeck Business Loan Approval & Funding Speed
OnDeck’s typical application, approval, and funding timeline are:
- Application: 10 minutes to complete its online application, with approval in hours
- Approval: Within hours of completing your application
- Funding: As soon as the next day, with one to three days typical; ongoing funding within 24 hours
Kabbage Business Loan Approval & Funding Speed
Kabbage’s typical application, approval, and funding timeline are:
- Application: 10 minutes to complete its online application with approval in hours
- Approval: Within 10 minutes to a few hours of completing your application
- Funding: As soon as the next day, with one to three days typical; ongoing funding within 24 hours or immediately using its connected Visa card
Kabbage vs OnDeck: Rates, Costs, & Repayment Terms
The convenience of short-term loans comes at a price, which is why the APR on a short-term loan is high compared to traditional financing. The annual percentage rate (APR) is the cost of a loan over one year, including interest and fees. Compared to a home mortgage, the APR for short-term loan providers may seem high.
OnDeck loans and Kabbage loans have similar costs, with the average expected APR for both companies estimated at 40%. However, OnDeck’s potential 9% simple rate for prime borrowers (700+ credit score) is lower than Kabbage’s. OnDeck’s average APR includes an origination fee of approximately 2.5% (taken out of your loan upfront). Kabbage charges a monthly single interest fee with no additional fees.
OnDeck Loan Rates, Costs, & Repayment Terms
Typical rates, costs, and repayments terms for OnDeck loans are:
- Rates and Costs: Expected APR of 30% – 50%
- Repayment Terms: Three to 36 months
Kabbage Loan Rates, Costs & Repayment Terms
Kabbage’s typical rates, costs, and repayments terms are:
- Rates and Costs: Expected APR of 30% – 50%
- Repayment Terms: Six or 12 months
Kabbage & OnDeck Cost Examples
The total out-of-pocket cost of a short-term business loan is often less than the out-of-pocket cost of a bank loan. Although OnDeck and Kabbage have high APRs, you end up paying them more quickly than a conventional bank loan. Paying 50% APR over nine months to meet a short-term need (e.g., payroll) may be preferable to paying 5% APR over 10 years.
When deciding between a Kabbage and OnDeck short-term loan, you should also consider:
Kabbage & OnDeck Capital Factor Rate Example
The factor rate is the total dollar amount you’ll have to pay back over the life of the loan. Kabbage and OnDeck focus on this rather than APR. A factor rate of 1.3 means that the borrower would have to pay back 1.3 times the original loan amount.
For example, on $100,000 borrowed, a company would have to pay back $100,000 in principal and $30,000 in interest and fees over the life of the loan. One common mistake is to think a factor rate of 1.3 equals a 30% APR. This is most likely not true. Depending on several factors, a 1.3 factor rate might equal a 70% APR or higher.
Kabbage & OnDeck Capital Average Annual Interest Rates
The weighted average interest rate for OnDeck term loans is 48.7% as of June 30, 2018. Kabbage, which is not a publicly traded company like OnDeck, told us that risk analysts in two separate offices confirmed an average APR of approximately 40%.
While each company advertises the lowest possible rates, we expect the typical Kabbage and OnDeck borrower to pay between 30% and 50% APR. This interest rate could be lower or higher depending on the creditworthiness of the borrower, the amount of the loan, and when the loan is paid back.
Kabbage vs OnDeck: Repayment Schedules
It’s important that the repayment schedule of a working capital loan fits within a small business’ normal cash flow. Some small businesses will have no problem adhering to daily or weekly repayment schedules. For other businesses, monthly payments may be the only repayment schedule that will work. Kabbage offers monthly repayment, while OnDeck’s is daily or weekly.
OnDeck Loan Repayment Schedule
OnDeck’s repayment schedules are:
- Daily or weekly
Kabbage Loan Repayment Schedule
Kabbage’s repayment schedule is:
Kabbage vs OnDeck: Personal Guarantee
Both OnDeck and Kabbage require a personal guarantee, as is common with most small business loans. A personal guarantee means that you’re personally responsible for the payment of a loan. If your business goes under and you can’t afford the loan payments, the lender can claim your personal assets (e.g., your car or home) to pay off the loan.
Kabbage vs OnDeck: Collateral
Neither OnDeck nor Kabbage require specific assets (personal or business) as collateral. Collateral is an asset or assets that you pledge as security for a loan. Most traditional bank business loans require you to put up specific collateral, such as business equipment or machinery, as backing for the loan.
However, OnDeck places a UCC lien on your general business assets for all loans, and Kabbage does so for loans above $20,000. This means that the lender can seize any and all business assets if you’re unable to pay back the loan.
Kabbage vs OnDeck: Customer Service
Both Kabbage and OnDeck have responsive customer service teams. While customer service might not be something you’ve considered when comparing lenders, good customer service can save you trouble. If you have an issue with your loan or a quick question, you need to have confidence that your provider will be there to help you.
OnDeck Customer Service
OnDeck has a very active customer service team. You can reach them by phone, email, or online live chat. Your personal loan specialist, who is familiar with your business’ loan, can be reached at any time. You can connect with your loan specialist or any of the other service options directly through OnDeck’s mobile app.
OnDeck is also very active in responding to customers on the Better Business Bureau (BBB) website, where it currently has a 66% positive rating from customer reviews.
Kabbage Customer Service
Like OnDeck, Kabbage offers a very responsive customer service program. Both borrowers and applicants can reach out to their support team via phone, email, or online live chat. You can even reach out directly from their app.
Kabbage also has a well-organized FAQ available on their website for you to easily find answers to your questions without having to contact the support team. Even negative Kabbage reviews we have seen on sites like SiteJabber still praise its customer service team.
Kabbage vs OnDeck: Additional Features
Both Kabbage and OnDeck have additional features beyond what has already been discussed that make managing your loan very convenient. These services range from making online payments on the go to easily being able to reach a customer service representative.
Kabbage vs OnDeck: Mobile Apps
Small business owners are busy and not always behind a desk. This is why it’s essential in today’s business world for financing to be available on mobile devices. Kabbage and OnDeck each have a mobile app that is easy to use and will help you stay up to date with any outstanding loans you have.
OnDeck’s Mobile App
The features of OnDeck’s mobile app include:
- Single Place to Manage Your Loan: The app gives an account overview of where you stand on each loan you currently have in repayment. You can also easily check the status of all account transactions, including the loan payments you have made.
- Customer Service Support: OnDeck provides contact information for your individual loan specialist and information on contacting the general support department. You can email or call their support team directly from the app.
- Draws on Your Business Line of Credit: OnDeck offers a business line of credit in addition to a short-term loan. Once you’re approved for the OnDeck line of credit, you can use its mobile app to quickly and easily withdraw funds (shown in the middle picture above).
Kabbage’s Mobile App
The features of Kabbage’s mobile app include:
- Overview of Your Loan Details: The Kabbage app allows you to see an overview of each of your current loan balances and any transactions made on your account.
- Loan Payments: You can quickly make your Kabbage loan payments directly through the app when you are away from your desk.
- Apply for a Loan: Kabbage makes it very easy to enter your information and get pre-qualified for a loan in just a few minutes on its app. The whole process takes place in the app, and when you’re approved, you can get connected to a loan specialist.
Besides the traditional bank transfer offered by most online lenders, Kabbage also allows you to use your revolving line of credit instantly with their Kabbage Card. Accessing your funds via credit card enables you to make purchases from vendors who will accept a credit card payment but not a wire transfer, which is the case for most online vendors.
OnDeck Reviews vs Kabbage Reviews
OnDeck reviews and Kabbage reviews are both pretty good. Both are able to retain customers for multiple loans despite their high APR costs. This speaks volumes to the great customer service of both businesses. However, past customers rank OnDeck a bit higher on overall satisfaction than the ratings by Kabbage’s customers.
OnDeck Capital gets five-star ratings 94% of the time on TrustPilot, and an A+ rating with the Better Business Bureau. OnDeck reviews indicate business owners were happy with the speed of getting an OnDeck business loan and the fact that they could get a loan at all after being rejected by numerous banks.
There have been some complaints from people who were confused by OnDeck’s interest rates, particularly as it relates to early repayment. You can’t save money by prepaying an OnDeck loan, because you agree to pay back a set dollar amount. We recommend taking time to understand the APR of any loan before committing to it. Read our OnDeck review to learn more.
Kabbage reviews are good but not as good as OnDeck reviews. Kabbage received five stars from 84% of users on TrustPilot and an A+ Better Business Bureau rating. Customers that gave Kabbage business loans good reviews cited the speed of getting the loan. Businesses liked the minimal paperwork and option to apply simply by linking your business bank or QuickBooks account.
Some negative Kabbage reviews were complaints that monthly payments were too high. Since Kabbage loans have to be paid back in 12 months or less, the monthly payments can be higher than an OnDeck loan and place stress on a small business. You control how much money you withdraw from your Kabbage line of credit, and thus how much you pay in fees. Read our Kabbage review to learn more.
Kabbage vs OnDeck: Loan Originations
The graph below shows how much money each lender has loaned out from the inception of their business to 2018. Both companies have initiated more than enough loans for you to be comfortable with them, but businesses have borrowed twice as much from OnDeck as they have from Kabbage.
Kabbage vs OnDeck: Understanding How Much Your Loan Will Cost
The language and details of a loan can be difficult to understand, and they often sound very different from one lender to the next. You shouldn’t need a finance degree to figure out how much you’re going to pay for a loan.
OnDeck and Kabbage are part of a group of lenders who have come together through the Innovative Lending Platform Association (ILPA) to provide a disclosure tool that can help you better understand and compare the true costs of their loans. This disclosure is available after the application process, but before you commit to the loan.
SMART Box Capital Comparison Tool
The SMART Box tool helps you understand and compare the costs of small business financing. It does this by giving you five different ways to measure the cost of your loan so that you can compare it to other loan products as you shop around. SMART Box then defines each measurement (such as APR) in plain English so that you know what you are looking at.
The need for a tool like Smart Box arose because short-term lenders often describe the cost of their loans using something other than APR (the measurement most consumers are familiar with). They do this because short-term loans almost always have higher APRs than long-term loans. The results were confusing, irregular measurements that left business owners in the dark.
“The SMART Box supplements the disclosure included in standard loan documents, providing an incredibly valuable set of metrics to help businesses evaluating financing products from different lenders—regardless of how they express costs. The SMART Box includes APR, total repayment amount, and a handful of other metrics that help small business owners understand the real costs of borrowing. The SMART Box makes it much easier for small business owners to match a particular loan to their unique business needs.”
How SMART Box Can Help You
The SMART Box tool provides a better picture of your total cost of capital, allowing you to:
- See if a potential loan is affordable
- Easily compare a potential loan to similar loan products
- Compare a potential loan to dissimilar loan products
SMART Box not only provides you with actual numbers and percentages to analyze, but also gives you plain English explanations of what those numbers mean to your business. The SMART Box disclosure provides an overview of your loan amount, disbursement amount, repayment amount, and term.
Additionally, here is a list of common cost metrics that the SMART Box disclosure provides:
- The total cost of capital
- Annual percentage rate (APR)
- Average monthly payment
- Cents on the dollar (amount of interest paid per dollar borrowed)
- Prepayment penalties
Here is an example of what the SMART BOX disclosures look like:
Overall, the SMART Box tool is a great way to measure your loan costs more accurately and to compare those costs against other options. Both OnDeck and Kabbage currently provide this disclosure after you finish the application process, but before you accept the loan. Before you take out an online business loan, look for the SMART Box disclosures.
Kabbage vs OnDeck: Ownership
Whenever you borrow money, you should be aware of where it’s actually coming from. The ownership structure of your potential loan provider will give you a good idea regarding the future of the business. This is important because you want to borrow from a stable lender. This is why we’re providing you with information on the ownership of OnDeck and Kabbage.
OnDeck is a publicly traded company on the New York Stock Exchange under the symbol ONDK. Being a publicly traded company gives you, the borrower, more insight into what the lender is doing because of the legal requirements by which public companies must abide.
Kabbage is a privately-held company founded by Rob Frohwein, Marc Gorlin, and Kathryn Petralia. The exact breakdown of ownership is unclear, but it is a combination of these founders and many private equity companies that have invested in the business since its inception.
Some of the Kabbage investors include:
- SoftBank Group ($250 million raised in August 2017)
- ING Ventures & ING Bank
- Elevate Innovation Partners
- Malaysia Venture Capital Management
- BlueRun Ventures
- Mohr Davidow Ventures
- Thomvest Ventures
- Victory Park Capital
- Guggenheim Securities
- Reverence Capital Partners
Kabbage vs OnDeck: Company Valuations
As a public company, OnDeck is required to regularly report its earnings. The total value of OnDeck is its market capitalization (market cap), which is the value of its currently outstanding shares. Kabbage is a privately-held company, so valuations available to the public are rare.
OnDeck’s Company Valuation
As of December 2018, OnDeck is valued at $451.78 million. This is down from an August 2018 valuation of $631.5 million, and is more in line with the $411 million valuation in December 2017 and $324 million valuation in May 2017. Although the overall valuation is increasing, Zacks Equity Research noted OnDeck has taken a larger dip than the overall market in 2018, but is speculated to recover leading up to their earnings announcement in February 2019.
Kabbage’s Company Valuation
Kabbage’s last publicly known valuation came after a 2015 round of funding. At the time, that put Kabbage’s valuation at $1 billion. In a PitchBook estimate, Kabbage was valued at $1.3 billion August 2017 after its most recent $250 million investment by SoftBank.
Bottom Line: Kabbage vs OnDeck
Small business owners have so many short-term working capital options, with OnDeck and Kabbage leading the way. We recommend OnDeck overall for small businesses because they offer larger loan amounts with longer terms. A Kabbage loan is a good option for small businesses generating lower revenues of $50,000+, or who need monthly payment terms.
OnDeck loans go up to $500,000 with terms of three to 36 months. If you have $100,000+ in annual business revenue, a credit score of 600+, and business operations of one or more years, then you can pre-qualify online today in a few minutes. Plus, you can get funded in as quickly as one day.