In this guide, the best no-document business loans require minimal paperwork, have flexible qualification requirements, and offer quick access to funding. While it’s true that almost all financing types require some form of documentation to facilitate, no-doc business loans typically only require basic information and are issued by an alternative lender—usually outside of a bank or credit union. That said, these loans are considered to be of greater risk and can include financing options such as term loans, lines of credit, and merchant cash advances.
Here are the top picks for the six best no-doc business loan options:
- Clarify Capital: Best overall for multiple loan options
- Lendio: Best for early-stage businesses
- Bluevine: Best for short-term financing options
- National Funding: Best for personalized customer service
- QuickBridge: Best for smaller financing needs
- AdvancePoint Capital: Best for quick access to funds
Best No-Doc Business Loans at a Glance
Est. Starting APR | Max. Repayment Term | Max. Loan Amount | Min. Credit Score | Application to Funding Speed | |
|---|---|---|---|---|---|
 | 5% | 24 months | $5 million | 500 | 24 to 48 hours |
 | Varies | Varies | 600 | 24 to 48 hours | |
 | Varies | 625 | 24 to 48 hours | ||
 | Varies | 18 months | $500,000 | 600 | 24 hours |
 | Varies | 18 months | $500,000 | 600 | 24 to 48 hours |
 | 4.99% | 18 months | $500,000 | Not stated | 24 hours |
Clarify Capital: Best Overall for Multiple Loan Options
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Rates and Terms | |
Estimated Staring Interest Rates | 5% and up |
Estimated APR | Varies |
Loan Amount | Up to $5 million |
Repayment Term | 6 months to 2 years |
Repayment Schedule | Varies |
Funding Speed | 24 to 48 hours |
Loan Types |
|
Qualifications | |
Credit Score | 500-plus |
Time in Business | 6 months |
Annual Revenue | $120,000 ($10,000 per month) |
Why I Like Clarify Capital
Clarify Capital is a broker with a network of over 75 partnering lenders. It has many financial offerings that are aimed to supply small businesses with the funding resources they need. I chose it as the best pick for borrowers looking for multiple loan options since you can be considered for financing by multiple lenders with just a single application.
The application process is simple and can be quickly completed online. It’s included on this list since documentation requirements are minimal compared with other business loan providers, and it also offers a streamlining underwriting process that typically only involves procuring your merchant processing and/or bank statements.
Unlike traditional lenders that may require review of tax returns, balance sheets, etc., Clarify Capital allows borrowers to complete all forms online, which makes for a convenient and efficient process. This also allows businesses to receive funding quickly, usually within 24 to 48 of approval.
To learn more or submit an application, visit the Clarify Capital website. Should you have any questions or need assistance, there are advisors available to help you navigate the process. You can also read our Clarify Capital review for an in-depth overview of its offerings and insight into the approval and application process.
Lendio: Best for Early-Stage Businesses
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Rates and Terms | |
Estimated Staring Interest Rates |
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Estimated APR | Varies |
Loan Amount |
|
Repayment Term | Varies |
Repayment Schedule | Varies |
Funding Speed | 1 to 2 days |
Loan Types |
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Qualifications | |
Credit Score | 600-plus |
Time in Business | 6 months |
Annual Revenue | $50,000 |
Why I Like Lendio
Lendio is another broker on this list that has a similar network to Clarify Capital in that it works with over 75 different lenders. It offers a wide variety of loan types and can match you with a lender based on your business financing needs. I chose it as the best option for early-stage businesses since it offers a simple application process that is favorable for businesses with limited revenue or credit history.
With a single application, you can be matched with numerous lenders that can issue financing based on your business needs and qualifications. This can save you time and money, along with increasing your odds of approval overall.
The application can be filled out via Lendio’s website and requires minimal documentation to get started. You must answer questions about your financing request, personal and contact information, and business information. You may need to upload differing documents depending on the loan type; however, this can be done easily through the application portal. Should you have any questions, you can contact your dedicated loan specialist to help walk you through the process.
Bluevine: Best for Short-Term Financing Options
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Rates and Terms | |
Estimated Staring Interest Rates |
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Estimated APR | Varies |
Loan Amount |
|
Repayment Term |
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Repayment Schedule | Monthly |
Funding Speed | 24 to 48 hours |
Loan Types |
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Qualifications | |
Credit Score | 625-plus |
Time in Business | 12 months |
Annual Revenue | $120,000 ($10,000 in monthly revenue) |
Why I Like Bluevine
Bluevine offers business term loans and lines of credit with minimal documentation required to apply. It makes the list as one of the best no-doc loan options because it offers a simple application process and favorable rates and terms for short-term financing options.
While other options in this guide, such as Lendio and National Funding, also offer short-term financing, I like Bluevine for its transparency and flexibility. With its term loans, you can submit a single application that will be considered by its partner lenders to determine if they can issue financing. It can also issue a line of credit directly if you’re looking for a revolving credit facility rather than a term loan. Check out our Bluevine Line of Credit review for more detailed information.
Bluevine allows you to apply and provide all your information online, with no impact on your personal credit. Essentially, this streamlines the process further and can provide you with quick access to funds.
To apply, visit the Bluevine website. There, you must provide information about your financing request and personal information. You can also connect your QuickBooks account to provide financial information regarding your business to limit the need for excess paperwork upon review.
National Funding: Best for Personalized Customer Service
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Rates and Terms | |
Estimated Staring Interest Rates | Factor rates starting at 1.11× |
Estimated APR | Varies |
Loan Amount | $5,000 to $500,000 |
Repayment Term | 6 to 18 months |
Repayment Schedule | Daily, weekly, or monthly |
Funding Speed | 24 hours |
Loan Types | Short-term business loan |
Qualifications | |
Credit Score | 600 |
Time in Business | 6 months |
Annual Revenue | $250,000 |
Why I Like National Funding
National Funding offers business loans with minimal documentation required to apply. It also provides lending options that require no collateral, which can make for a smooth application process with a quick approval timeline.
I chose it as the best option for personalized customer service, as it has dedicated funding specialists who can help you navigate the application and approval process, simplifying the process even further. This is a great perk for borrowers looking for hands-on experience when applying.
National Funding stands out in that it offers an early payment discount if the loan is paid in full within 100 days. This can be a huge benefactor for borrowers looking to take advantage of short-term financing and save money overall. It also uses a factor rate rather than a traditional interest rate, which can be applicable to the many forms of financing it offers outside of term loans. If these features are important to you, I recommend comparing options with QuickBridge, which has similar offerings.
Filling out an application only takes a few minutes and can be done on the National Funding website. An approval decision can also be obtained in as little as 24 hours. If approved, you can then discuss the terms and conditions of your financing options with a dedicated funding specialist.
QuickBridge: Best for Smaller Financing Needs
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Rates and Terms | |
Estimated Staring Interest Rates | Factor rates as low as 1.10× |
Estimated APR | Varies |
Loan Amount | $10,000 to $500,000 |
Repayment Term | 3 to 18 months |
Repayment Schedule | Daily, weekly |
Funding Speed | 1 to 2 days |
Loan Types | Small business loan, working capital loan, short-term business loan |
Qualifications | |
Credit Score | 600 |
Time in Business | 6 months |
Annual Revenue | $250,000 |
Why I Like QuickBridge
QuickBridge offers various types of business loans with minimal documentation requirements. It has an online application that is simple and can be completed within just a few minutes. Some of its business financing solutions include no collateral loans, unsecured loans, short-term loans, and lines of credit. Generally, the only paperwork required is your application and three months’ worth of bank statements.
While National Funding offers financing with similar amounts, I chose QuickBridge as the best option for smaller financing needs since it can facilitate loans quickly based on the amount of funding you seek. It also offers one of the lower funding amounts of this guide, but that can work in your favor if you’re looking for speedy funding times and only have use for a limited amount of funding.
Like National Funding, it uses factor rates in lieu of interest rates. Funds for most loans can be used for virtually any business purpose, which is ideal for borrowers needing flexible financing options. Also in line with National Funding, there’s an opportunity for a discount if you pay off your loan early. You must provide a personal guarantee as a condition of obtaining funding; however, you won’t have to provide additional collateral to supplement the loan.
QuickBridge is known for its streamlined application process, and that’s in part due to its dedicated funding specialists who are there to help you every step of the way. You can begin by applying via the QuickBridge website, which only takes a few minutes. Once you’ve applied, you can work with your funding specialist to discuss items such as loan terms, additional requirements, and your applicable funding options.
AdvancePoint Capital: Best for Quick Access to Funding
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Rates and Terms | |
Estimated Starting APR | 4.99% |
Loan Amount | Up to $500,000 |
Repayment Term | 3 to 18 months |
Repayment Schedule | Weekly |
Funding Speed | 24 hours |
Loan Types | Same-day business term loan |
Qualifications | |
Credit Score | Not stated |
Time in Business | None |
Annual Revenue | $150,000 |
Why I Like AdvancePoint Capital
AdvancePoint Capital offers a wide range of financing options that may apply to your business needs. In fact, it offers multiple resources through its website that are designated specifically for loans that are quick and simple to apply for. However, I’m highlighting its same-day business loan, which offers quick access to financing with a limited need for documentation throughout the approval process. For this reason, it makes the roundup as the best option for borrowers needing quick access to funding.
It also offers some of the most competitive starting rates of this guide alongside Clarify Capital, which makes it an ideal option for borrowers looking for budget-friendly options in addition to quick access to funds. It also doesn’t have a minimum credit score requirement, so it may be beneficial for borrowers with limited credit history.
To get a quote, visit the AdvancePoint Capital website and fill out a questionnaire. Approval decisions are typically issued within as little as a few hours, with funding available shortly after. Advisors are available should you have any questions when navigating the process.
How I Chose the Best No-Doc Business Loans
I considered the following characteristics when selecting the best no-doc business loans:
- Documentation requirements
- Qualification requirements such as time in business, minimum credit score, and revenue
- Interest rates and estimated APRs
- Loan amount and repayment terms
- Ease of application process
- Application, approval, and funding speeds
- Types of loans offered
- Customer reviews and ratings
How to Choose a Loan Provider
If you’re curious about how to go about choosing a lender, there are a few factors to consider.
- Consider your budget. Before shopping around for a lender, you should think about how much you can realistically afford to pay by evaluating your current financial situation.
- Determine your financing needs. By mapping out how much money you’ll need to borrow, you can determine what lenders may be applicable to your business needs and whether or not they fit your budget.
- Review lender qualification requirements. Lenders will have varying qualification criteria. Ideally, you should meet the minimum requirements for the best odds of approval. Commonly considered criteria include credit score, time in business, and annual revenue.
- Compare loan costs and terms. When considering which lenders are the best fit, compare rates, terms, and fees. By evaluating the total costs of financing among various lenders, you can ensure you’re getting the best deal before signing an agreement.
For tips on how to approach the application and approval process, check out our guide on how to get a small business loan.
Alternatives to No-Doc Business Loans
If you think a no-doc business loan might not be the best fit for your business needs, there are other options to get financing outside of getting a loan.
- Crowdfunding: If you’re looking to obtain financing and want to avoid debt-based options, crowdfunding may be an option. It involves raising funds via a platform that allows people to invest in your business and, oftentimes, also brings exposure to your company. You must market your campaign and set target goals to stand out and raise enough money. Check out our guides on how to crowdfund a business and the best crowdfunding sites to learn more.
- Friends & Family Loans: If you’re looking for a less formal financing option, consider approaching friends and family with the resources to invest in your business. While you’ll still have to pay a minimum rate of interest and follow tax rules and regulations, this can be a flexible financing option. Our guide on raising money from friends and family to fund your business will walk you through the process and the benefits and drawbacks.
- Business Credit Card: If you only need funds on an as-needed basis, a business credit card can provide quick access to financing. Most applications are focused on your qualifications and require little to no documentation. You can use the card to make business purchases and, as a revolving credit facility, pay back the funds over time. Check out our roundup of the best small business credit cards for some options.
Frequently Asked Questions (FAQs)
Interest rates can vary depending on the type of no-doc loan you need, e.g., term loans, lines of credit, merchant cash advances, and invoice factoring. Rates will also vary depending on your qualifications as a borrower.
It depends. Generally, no-doc business loans require that you be a creditworthy borrower with strong qualifications to mitigate risk to the lender in the event of default. If you have poor credit, you may find it more difficult to qualify since approval of these loans is heavily weighted by the strength of your credentials.
Yes. In fact, they are commonly used by both startups and small businesses. While they usually have higher interest rates and stricter loan terms than regular or standard business loans, they do offer quick access to financing, which can be vital to startups or small businesses with limited resources.
Bottom Line
No-document business loans can be a great way for businesses to get access to financing without having to provide a ton of paperwork. While you must prove your creditworthiness as a borrower, no-doc business loans can bridge the gap between getting working capital for your business with minimal obstacles. That said, you should compare other financing options and ensure that a small business no-doc loan fits your budget and meets your business funding needs before signing an agreement.
