The best same-day business loans should be able to issue an approval and disburse funds within 24 hours of receiving a completed application. They should also have flexible qualifications and loan terms, along with a combination of excellent customer service, low documentation requirements, and a simple application process.
There are many different types of business loans available, depending on your specific business needs and company goals. To ensure you find one that suits your specifications, I’ve compiled a list of various lenders for the best same-day small business loans.
- Clarify Capital: Best overall for multiple options
- QuickBridge: Best simple application process
- Lendio: Best for multiple loan programs
- National Funding: Best for personalized customer service
- Bluevine: Best small business credit line
Get a business loan in 24-48 hours with Clarify Capital. |
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Best Same-day Business Loans at a Glance
Maximum Loan Amount | Maximum Repayment Term | Minimum Credit Score | Minimum Annual Revenue | ||
|---|---|---|---|---|---|
 | $5 million | 24 months | Varies | 500 | $120,000 |
 | $500,000 | 16 months | Varies | 600 | $250,000 |
 | $10 million | 120 months | Varies | As low as 500 | $50,000 to $96,000 |
 | $500,000 | 16 months | Varies | 600 | $250,000 |
 | $250,000 | 12 months | 7.8% | 625 | $120,000 |
Clarify Capital: Best Overall for Multiple Options
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Rates and Terms | |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Starting Interest Rate | 5% and up |
Estimated APR | Varies |
Loan Amount | $10,000 to $5 million |
Repayment Term | 6 months to 2 years |
Repayment Schedule | Varies |
Financing Type | Term loan, line of credit, equipment financing, invoice factoring, merchant cash advance (MCA) |
Qualifications | |
Credit Score | 500 |
Time in Business | 6 months |
Revenue | $120,000 annually |
Why I Like Clarify Capital
As it’s a broker with over 75 lending partners in its network, I chose Clarify Capital as the best overall option for same-day business loans because of the sheer number of financing choices available. A single application with this company allows you to be paired with a funding specialist who will help find the best option based on your business needs, qualifications, and other circumstances.
Clarify Capital provides a combination of highly competitive rates along with flexible eligibility criteria. Note, however, that while APRs can be as low as 6%, you’ll have to be extremely well-qualified to be matched with a lender willing to issue its best rates and terms. Multiple programs are offered for those needing fast funding, something that can further improve your chances of getting the money you need on your timeline.
Applications can be completed online in under two minutes. There are no costs to do so, nor will it have any impact on your credit score. If you’re not ready to apply or have questions, you can call the company’s toll-free number to speak with a loan specialist.
QuickBridge: Best Simple Application Process
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Rates and Terms | |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Starting Interest Rate | Factor rates as low as 1.10x |
Estimated APR | Varies |
Loan Amount | Up to $500,000 |
Repayment Term | Up to 18 months |
Repayment Schedule | Daily, weekly |
Financing Type | Term loans, working capital financing |
Qualifications | |
Credit Score | 600 |
Time in Business | 6 months |
Revenue | $250,000 annually |
Why I Like QuickBridge
QuickBridge was my pick as the best option for those looking for a simple application process. While specific paperwork requirements will vary depending on the circumstances of your company and the financing you’re seeking, QuickBridge generally has easier documentation requirements compared with most other lenders.
The company also places a large emphasis on ensuring you’re placed in a program with rates and terms that will help your business succeed in achieving a sufficiently high return on your investment. According to the company’s own internal analysis from 2022, it states that 80% of its returning customers saw a subsequent increase in business revenue after using funds from a QuickBridge business loan. The consistently high reviews it receives on third-party sites are further evidence of the company’s commitment to delivering a high-quality product and level of service. Google reviews and Trustpilot, for instance, show a 4.3-star and 4.8-star rating, respectively.
Other perks you’ll get by working with QuickBridge include flexible payment options, along with early payoff discounts and the ability to renew funding if you need access to additional funds.
To apply, you can complete QuickBridge’s fast online application. Once that is done, you’ll be paired with a QuickBridge advisor who will work with you to match you with the best loan for your business.
Lendio: Best for Multiple Loan Programs
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Rates and Terms | |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Starting Interest Rate |
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Estimated APR | Varies by loan program |
Loan Amount |
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Repayment Term |
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Repayment Schedule | Varies by loan program |
Financing Type | A/R financing, line of credit, term loan, cash advance, equipment financing |
Qualifications | |
Credit Score |
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Time in Business |
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Revenue |
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Why I Like Lendio
Lendio offers one of the widest ranges of loan programs in this guide, with many also having quick funding speeds as fast as 24 hours. Like Clarify Capital, it’s a loan broker with a network of over 75 lenders but earned a lower spot on this list because of its higher overall rates.
While the exact process and documentation requirements may vary depending on your business circumstances and loan program you apply for, these items are generally quite simple to understand. Once you complete the company’s application, you’ll have the opportunity to upload the required paperwork online. You’ll then be presented with loan options so you can choose the one best suited for you. If you’re not sure, your dedicated funding manager can provide additional guidance. Once your company’s credit and finances are verified, you could be given access to funds in as little as 24 hours if approved.
Online applications cost nothing to submit, and there is also no obligation to accept a loan offer. If you’re not provided with suitable options, you could still take advantage of other services offered by the company, such as getting connected to small business credit repair, bookkeeping services, and legal assistance.
National Funding: Best for Personalized Customer Service
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Rates and Terms | |
Approval Speed | As fast as 24 hours |
Funding Speed | As fast as 24 hours |
Starting Interest Rate | Factor rates as low as 1.10x |
Estimated APR | Varies |
Loan Amount | $5,000 to $500,000 |
Repayment Term | Up to 18 months |
Repayment Schedule | Daily, weekly |
Financing Type | Term loans, working capital, and equipment financing |
Qualifications | |
Credit Score | 660 |
Time in Business | 6 months |
Revenue | $250,000 annually |
Why I Like National Funding
National Funding consistently receives high ratings from customers for its loan offerings and customer service. It has a 4.8 rating on Trustpilot[1] with around 1,900 reviews and an A+ rating with the Better Business Bureau (BBB).[2] These high ratings make it my top pick for same-day business loans with the best customer service. Applications it receives are reviewed on a case-by-case basis, and it provides a high level of personalized service to get you the best financing option to serve your needs.
It offers similar loan products to QuickBridge, but because the exact rates and terms can vary, I recommend considering both providers. Like QuickBridge, National Funding offers early repayment discounts as one way to incentivize short-term loans. For instance, borrowers with a working capital loan can receive a discount on the remaining balance if the loan is paid in full within the first 100 days.
You can visit the National Funding website to apply. There, applications can be completed in a matter of minutes, after which you should expect to hear from a funding specialist within several hours. Depending on the details of your loan, it’s possible to get approved in as little as 24 hours.
Bluevine: Best Small Business Credit Line
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Rates and Terms | |
Approval Speed | As fast as 5 minutes |
Funding Speed | As fast as 24 hours |
Starting Interest Rate | 7.8% |
Estimated APR | 7.8% to 80% |
Loan Amount | Up to $250,000 |
Repayment Term | 6 or 12 months |
Repayment Schedule | Weekly, monthly |
Financing Type | Line of credit |
Qualifications | |
Credit Score | 625 |
Time in Business | 12 months |
Revenue | $120,000 annually |
Why I Like Bluevine
With a Bluevine business line of credit, you can get same-day funding whenever you need it. The line of credit provides you with the flexibility to draw funds on an as-needed basis, up to your designated credit limit. As you pay down the loan balance, you can then continue to draw additional funds. Funds drawn from the credit line can be used for any business purpose. This can include emergencies and unexpected expenses.
In addition to being the best small business line of credit in this guide, it was also selected for our list of the best working capital loans as it can be used for payroll and other daily operational costs. While other providers such as Lendio or Clarify Capital also offer lines of credit, I like Bluevine for its versatility and favorable rates and terms.
On top of the qualifications listed above, you’ll also need the following to be eligible for financing:
- Be structured as a corporation or LLC
- Have no bankruptcies within the past three years
- Be in good standing with your Secretary of State
- Operate or be incorporated in a state other than Nevada, North Dakota, or South Dakota
- Not operate in Bluevine’s list of restricted industries
Bluevine’s line of credit is typically issued on a weekly payment plan. If you’re interested in making monthly payments, you must meet the following additional requirements:
- Have a FICO credit score of 700
- Maintain $10,000 average monthly bank balance
- Be in business for three years or more
- Earn $960,000 in annual revenue
To learn more or to submit an application, visit the Bluevine website.
How I Chose the Best Same-day Small Business Loans
The best same-day business loans were chosen using the following criteria:
- Application, approval, and funding speeds
- Interest rates, fees, and estimated APRs
- Qualification requirements
- Ease of application
- Amount of documentation required for loan approval
- Loan terms, including loan amount and repayment period
- Number and types of loan programs offered
- Customer reviews and ratings
How to Choose a Same-day Business Loan Provider
When choosing a loan provider to facilitate a same-day business loan, you’ll want to make sure you find one that fits your budget and meets your business needs. Here are some factors to consider when comparing lenders:
- Evaluate your business needs: You’ll need to evaluate your business needs inclusive of how a same-day business loan will help finance your business operations, how much you’re planning to borrow, and how you’re planning to repay the loan.
- Review lender qualification requirements: Depending on the loan type and lender, qualification criteria will vary. Generally, factors such as credit score, time in business, and annual revenue are considered. Be sure to meet the minimum qualification requirements imposed by the lender to improve your odds of approval.
- Compare loan costs and terms: When shopping around for a lender, see to it that you compare rates, terms, and associated costs from multiple providers. Make sure the loan terms fit your budget and meet your specific business needs.
Alternatives to Same-day Business Loans
If you think a same-day small business loan isn’t the best fit for your business needs, or you’re simply exploring all of your available financing options, here are some alternatives to consider:
- Small business credit card: As a revolving credit facility, a small business credit card allows you to make business purchases on an as-needed basis with the ability to repay the balance over time. This can be a flexible financial tool that can help cover emergencies or other short-term expenses. Check out our picks for the best small business credit cards to learn more.
- Personal loan for business: If your business doesn’t have the credit history or resources to be eligible for a business loan, you can instead get a personal loan based on your own personal credentials. There are a variety of personal loan types, whether it be a term loan or a line of credit, and funds can typically be used with limited restrictions. To learn more or find a provider, check out our guide on the best personal loans for business funding.
- Rollover for Business Startups (ROBS): A ROBS allows you to access your personal retirement accounts tax- and penalty-free. Since it’s not a loan, you can avoid monthly payments and interest charges. I recommend using a company from our list of the best ROBS providers to walk you through this process.
- Funds from friends and family: Raising money from friends and family is a less formal way of obtaining financing. While there are still applicable tax regulations and interest rate requirements, this can be an accessible option for businesses that don’t qualify for traditional financing through lending institutions. Our guide on raising money from family and friends to fund your business walks you through this process.
Frequently Asked Questions (FAQs)
As with most loans, there are advantages and disadvantages to same-day business loans. The advantages include a streamlined application and disbursement process, often with limited documentation requirements. That said, the disadvantages may include higher rates and fees than other business loan types.
Generally, a same-day business loan should provide approval and funding within 24 hours. Details will vary depending on the lender; however, some providers can offer an approval decision in as little as a few minutes after submitting your application.
Same-day business loans are issued by many types of lenders. Some examples include credit unions, banks, business loan brokers, and online lenders. If you need funds quickly, we also recommend confirming with the lender what their typical approval and funding times are.
Bottom Line
The best same-day small business loans should offer you quick access to funding with flexible terms and qualifications based on your business needs. There are various types of business loans that are available, whether it be term loans, working capital loans, lines of credit, equipment financing, and more. Depending on the lender, the better your qualifications, the better your odds of approval and getting financing faster.
