6 Best Fast Business Loans For Quick Cash in 2024
🤝 Up To $250k For Established Businesses
- Term Loans Can Fund the Same Day†
- Lines of Credit Can Fund Instantly*
- Fast-10 Mins Application Process, No Hard Credit Pulls
- Better Business Bureau A+ Rating
Loans Range: $25,000 to $1Million*
- Fixed-rate Financing for Eligible Customers
- Revenue-Based Financing Option
- +$8B in Business Financings Since 2007
- Get Approved in 24 Hours
Select from wide range of funding options for your business
- Apply in minutes
- Transparent application process - no hidden fees
- Get funded in as little as 24 hours in some cases
- Rated A+ by the BBB
Lines of credit up to $250,000
- Average Yearly Revenue requirements: $120,000
- Minimum Credit Score: 625 FICO
- Minimum Time in Business to apply: 1 year
Online tracking platform + personal Account Manager keep your business goals in check
- Loan amounts: $5,000 to $500,000
- Average yearly revenue requirements: $250,000
- Minimum credit score: None
- Minimum time in business to apply: 1 year
Compare Multiple Offers in Less Than 3 Mins.
- Loan Amounts: Up to $3 million
- Free Application with No Credit Check
- Short & Long Term Loan Options Available
- On Demand Line of Credit Up to Fiixed Limit
Loans Range: $25,000 to $5 Million
- Decision as Fast as 24 Hours
- Get Funded as Quick as 72 Hours
- Applying Does Not Affect Your Credit
- Apply Online In Minutes
Fast business loans provide companies with quick cash-flow injections, often within 24 hours of the initial application.
While these loans can prove helpful in certain circumstances, the loans come fraught with hidden dangers like high interest rates and short repayment schedules. That's why business owners must understand how to identify the best fast business loan providers and products before beginning the application process.
Keep reading to learn more about how fast business loans work, typical eligibility requirements, the affordability of fast business loans and how quickly you may receive funding in order to determine if this is the right option for your business needs.
Our Top Picks for the Best Fast Business Loans
The companies listed below are organized alphabetically.
- Bluevine - Best Business Line of Credit
- Fundbox - Best for Startups
- Lendio - Best Rates
- OnDeck - Best for Quick Funding
- QuickBridge - Best Application Process
- SBG Funding - Best for Fair Credit
Best Fast Business Loans Reviews
Best Business Line of Credit: Bluevine
- Up to $250,000 business line of credit
- Application decision may be as quick as a few minutes
- Credit line increase possible with on-time payments
- No monthly maintenance fee
- High annual revenue requirement compared to other companies we evaluated
- Personal guarantee required
- Line of credit may be frozen if you take on additional debt
- 1.5% - 2.9% fee every time you withdraw funds
- Term lengths
- 6 or 12 months
- Loan amounts
- Up to $250,000
- APR
- Not specified
- Minimum credit score required
- 625+ FICO
- Minimum Annual revenue
- $480,000
Why we chose it: Bluevine stands out for providing businesses with fast access to lines of credit of up to $250,000, an amount greater than other companies we evaluated.
Bluevine’s $250,000 lines of credit have repayment terms of six or 12 months. Additionally, the company can provide you with fast funding. Its online application takes under two minutes to complete, and a decision could come as quick as five minutes. Plus, there’s no hard credit pull to apply.
Read our full review of Bluevine small business loans.
See rates on Bluevine's Secure Website >>
Best for Startups: Fundbox
- Simple and easy loan application
- Low credit score cut-off
- High ratings on the Better Business Bureau (BBB)
- No origination or application fees
- No prepayment penalty
- $150,000 loan limit
- Aggressive repayment schedule
- Term lengths
- 12 or 24 weeks
- Loan amounts
- Up to $150,000
- Interest rates
- Starting at 4.66% for 12-week repayment and 8.99% for 24-week repayment
- Minimum credit score required
- 600+ FICO
- Minimum Annual revenue
- $100,000
Why we chose it: Fundbox tops our list as the best lender for startups because businesses only need to be in operation for six months with an annual revenue of $100,000, as opposed to the higher requirements set by other lenders we evaluated.
Fundbox provides capital for small businesses through business lines of credit. Repayment terms are 12 or 24 weeks, and you can change these terms each time you draw funds.
Read our full review of Fundbox small business loans.
See rates on Fundbox's Secure Website >>
Best Rates: Lendio
- Competitive interest rates
- Quick loan application process
- No hard credit pull to apply
- FTC warning concerning misleading claims
- May take borrowers extra time to decide on the right lender
- Variable revenue and credit requirements
- Term lengths
- Varies by lender
- Loan amounts
- $5,000 to $2 million
- APR
- Varies by lender
- Minimum credit score required
- Varies by lender
- Minimum Annual revenue
- Varies by lender
Why we chose it: Lendio works with more than 75 business lenders and credit unions, so borrowers can compare interest rates and other loan specifics to find the best fit for their needs.
Lendio is an online lending marketplace with over 75 separate online lenders, such as OnDeck, Mulligan Funding, American Express, Bank of America and Headway Capital. Borrowers can compare financing options, including short-term loans, startup loans, working capital loans, Small Business Administration (SBA) loans, business lines of credit and cash advances, through the site or by calling a representative by phone.
Note: In May 2020, the Federal Trade Commission (FTC) issued a warning letter to Lendio regarding misleading claims it had made to business owners about their ability to claim PPP loans and other COVID-19 relief funds. Consumers should keep this in mind as they shop for a loan.
Read our full review of Lendio small business loans.
See rates on Lendio's Secure Website >>
Best for Quick Funding: OnDeck
- Can help build your business credit score
- Same-day funding times available
- Prepayment benefits
- No hard credit pull to check eligibility
- 625 minimum credit score
- High interest rates
- Requires frequent payments
- Charges origination fee
- Term lengths
- 12 - 24 months
- Loan amounts
- $5,000 - $250,000
- Average Rates
- Term loans 60.9% APR, lines of credit 52.6% APR
- Minimum credit score required
- 625 FICO
- Minimum Annual revenue
- $100,000
Why we chose it: We chose OnDeck as best for quick funding because the company offers a fast application process and same-day disbursement on some loans.
Loan amounts for a line of credit with OnDeck start at $6,000 with a credit limit of $100,000. Short-term loans range from $5,000 to $250,000.
Once your application is reviewed, a company representative will call you to discuss your funding options. You may be offered a short-term loan, business line of credit, or both. Same-day funding is possible on loans up to $25,000, so long as your loan is processed by 10:30 a.m. EST.
Read our full review of OnDeck small business loans.
See rates on OnDeck's Secure Website >>
Best Application Process: QuickBridge
- Fast and easy application process
- Early payoff discounts
- Flexible payment options
- High annual revenue requirements
- Loan origination fees
- Term lengths
- Not specified
- Loan amounts
- Up to $500,000
- APR
- Not specified
- Minimum credit score required
- All credit scores considered
- Minimum Annual revenue
- Not specified
Why we chose it: To apply for a loan with QuickBridge, you only need to submit your last three bank statements and your driver’s license. This, plus a fast response decision response time for loans under $200,000, makes Quickbridge our pick for best application process.
You can apply even with bad credit, as Quickbridge considers other factors, such as average monthly revenue, in its determination process. However, your business must have been in operation for at least six months to be considered.
Read our full review of QuickBridge small business loans.
See rates on Quickbridge's Secure Website >>
Best for Fair Credit: SBG Funding
- Requires a 600+ credit score for approval
- No hard credit check to apply
- Term loans of up to $10 million available
- Biweekly and monthly repayment options
- Annual percentage rate can be high for borrowers with bad credit
- High annual income requirement at $350K
- Origination fee
- Term lengths
- 6 months to 7 years
- Loan amounts
- Up to $10 million
- APR
- Starting at 1.75% per month
- Minimum credit score required
- 600 FICO
- Minimum Annual revenue
- $350,000
Why we chose it: SBG Funding provides quick business loans for borrowers with fair credit. A credit score of 600 may qualify you for a term loan of up to $10 million.
The FICO credit score requirement for SBG Funding’s small business term loan stands at 600, which is lower than many other companies we reviewed. Additionally, SBG allows less established businesses who have been in operation for six months to apply. However, SBG Funding requires an annual revenue of $350,000.
Additionally, the loan application process takes no more than 15 minutes, and fund disbursal can occur within 24 hours of completing the approval process.
See rates on SBG Funding's Secure Website >>
Find the Small Business Loan that's right for you
Funding in as fast as 24 hours
Applying won’t affect credit score
- Loan Amounts: $5,000 to $250,000
- Average Yearly Revenue requirements: $100,000
- Minimum Credit Score: 625 FICO
- Minimum Time in Business to apply: 1 year
BBB Accredited Company with cash in as little as 24 hours
- Loan Amounts: Up to $500,000
- Average Yearly Revenue requirements: $250,000
- Minimum Credit Score: 600 FICO
- Minimum Time in Business to apply: 6 months
Offers Revenue-based Financing
- Apply & Receive a Decision in as Little as an Hour
- Gain Access to Funding Within 24-Hours
- Revenue-based Financing, Not Credit Score
- Financing Increases when Your Business Grows
Loan amounts up to $5 million
Loans Range: $25,000 to $5 Million
- Decision as Fast as 24 Hours
- Get Funded as Quick as 72 Hours
- Applying Does Not Affect Your Credit
- Apply Online In Minutes
No cost and no credit check applicatio
Compare Multiple Offers in Less Than 3 Mins.
- Loan Amounts: Up to $3 million
- Free Application with No Credit Check
- Short & Long Term Loan Options Available
- On Demand Line of Credit Up to Fiixed Limit
Other companies we considered
Fora Financial
- Only six months in business required
- Funds typically disbursed within 48 hours
- Does not require good credit score
- No collateral required
- Debt repayment with a portion of monthly sales revenue
- Short repayment terms: four to 15 months
- Lack of transparency in its fee structure
- Charges 2.5% processing fee
Fora Financial is a direct lender that offers short-term business loans and revenue advances to businesses that have been in operation for at least six months. The company also requires an annual gross income of $180,000. Loan amounts start at $5,000, with maximum loan amounts at $1.4 million. If you meet the requirements, check your rates, as Fora Financial could still be an option for getting a business loan offer fast.
Why Fora Financial didn’t make the cut: No information on interest rates or repayment structures (e.g. weekly payments or monthly payments) is publicly available.
See rates on Fora Financial's Secure Website >>
Triton Capital
- No early payment penalty
- Flexible repayment options
- Up to 60 months to repay
- No minimum credit score information available
- No minimum annual revenue information available
- No information on time in business requirement
Triton Capital works with banks to offer small business financing — working capital, equipment loans and SBA loans — ranging from $5,000 to $250,000. Funds may be disbursed as soon as two days from approval.
Why Triton Capital didn’t make the cut: While Triton Capital is upfront about its loan terms and starting interest rates, the company doesn’t provide any information about eligibility requirements on its website. To find out more, you must call a Triton Capital representative by phone.
See rates on Triton Capital's Secure Website >>
Balboa Capital
- Fast decision process
- Loans up to $250,000
- Quick funding process to get small business loans fast
- $300,000 annual revenue requirement
- May require a personal guarantee
- Origination as high as 5% of the loan amount
- Hard credit pull as part of the application process
Balboa Capital, a division of Ameris Bank, offers short-term small business loans from $10,000 to $250,000. A FICO score of 620 is required to be eligible, and the business must be in operation for at least one year. Repayment term lengths are three to 24 months.
Why Balboa Capital didn’t make the cut: Balboa Capital does not publicly disclose any information about its interest rates or minimum annual revenue requirements.
See rates on Balboa Capital's Secure Website >>
Funding Circle
- Repayment terms up to ten years
- Several types of business loans available
- No prepayment penalties
- Minimum two years in operation to qualify
- Costly loan origination fees
Funding Circle functions similarly to Lendio in that it connects borrowers to lenders. To qualify for a loan, the business must be in operation for at least two years.
Why Funding Circle didn’t make the cut: The company’s requirements for business funding eligibility (two years in business, FICO 660) are more rigid than those of other fast short-term business loan companies we evaluated.
See rates on Funding Circle's Secure Website >>
Fast Business Loans Guide
We've compiled the following guide to help you make an informed decision about the best fast cash loans for your business. Below you’ll find details on how fast business loans work, typical eligibility requirements, the affordability of fast business loans and how quickly you may receive funding.
What is a fast business loan?
Fast business loans provide companies with financing within one to three business days. No single definition exists for fast business loans; many loan programs fall under this umbrella, including lines of credit, equipment financing and merchant cash advances (MCA). Unlike traditional loans, obtaining a fast small business loan is a relatively streamlined process. Businesses with bad credit and startups may be eligible for fast business loans.
How do fast business loans work?
With a fast business loan, prospective borrowers fill out an online form listing key information about themselves and their businesses. Fast business loans may require a personal guarantee by the business owner, and it's common to check the owner's personal credit history before issuing a loan. However, lenders do not usually report loan payments to the major credit bureaus, meaning they won't contribute to your credit history.
Traditional brick-and-mortar banks typically don't offer fast business loans. Compared to a traditional small business loan, fast business loans can take only a few days to secure. Lenders usually make an approval decision within one to two days, and sometimes funding can be just as fast.
Fast business loan requirements
While fast business loans don't subject applicants to the same scrutiny that traditional bank loans demand, certain metrics still apply.
- Although there are no standard credit score requirements for fast business loans. Most lenders require a minimum credit score — though some work with borrowers with poor credit. Obviously those with scores north of 700 can expect more favorable terms.
- Lenders often require that businesses be in operation for six months, a year or longer.
- Many lenders require a minimum annual revenue amount.
- Also, certain types of loans, may require collateral. In such cases, the collateral will be specified in the loan contract along with the repayment terms.
Types of fast business loans
Below are some of the most common types of fast business loan products. Keep in mind that different loans and different lenders have different eligibility requirements, including time in business and minimum annual revenue.
Business line of credit
A business line of credit is similar to a credit card, as it allows a company to borrow funds up to a predetermined limit. Unlike a business term loan, businesses can draw funds from the line of credit as needed and only pay interest on the amount borrowed. Lines of credit are good for managing cash flow fluctuations and covering unexpected business expenses.
Online business term loans
An online business term loan is a fixed amount a company borrows from an internet lender. Like traditional term loans, they are repaid in regular installments over a specified period. Online term loan lenders often offer a quicker approval process and more competitive rates compared to traditional banks.
Equipment financing
A business uses equipment financing to purchase or lease equipment necessary to operations. This could include vehicles, machinery or tools. The equipment itself typically serves as collateral for the loan, allowing businesses to access financing that they may not have been able to qualify for. As such, this type of financing helps companies acquire the necessary equipment to operate without needing to pay the full purchase price upfront.
Invoice financing
With invoice financing, businesses can draw a loan from a lender using their unpaid invoices as collateral. The amount the business receives is generally less than the full amount the customers owe. Also known as accounts receivable financing, this option provides businesses with quick access to a portion of capital they are owed. Once the customer pays the invoice to the business, the lender receives the full invoice amount plus fees and interest.
This differs from invoice factoring, which is an arrangement where you sell the unpaid invoice to a factoring agency and it is upon them to collect from the customer.
Merchant cash advances
Merchant cash advances allow businesses that accept credit cards to borrow cash in exchange for a percentage of future credit card sales. They are commonly used by restaurants, retailers, and various other businesses to manage day-to-day operational expenses. Merchant cash advances often come with high fees and can result in significant costs over time. Repayment is typically made daily or weekly through a portion of the business's credit card sales.
When to consider fast business financing
A fast short-term business loan may help if your business requires capital right away. As long as you meet the lender requirements, you’ll generally receive small business loan funding quickly. Here is a list of reasons why you might need fast business financing:
Covering payroll
If your business is facing temporary cash flow challenges and unable to pay payroll, fast business financing can offer a convenient solution. Ensuring employees are paid promptly maintains morale, productivity, and labor law compliance.
Expansion costs
Growth opportunities may not always come at convenient times. Fast business loans offer a rapid infusion of funds which enable businesses to cover sudden expansion costs. Capital can be used to lease a new space, invest in additional inventory, or hire more staff.
Purchase equipment
An equipment financing loan can allow businesses to lease or buy expensive equipment they might not be able to afford. This is because these loans use the equipment itself as collateral. The right equipment is necessary to improve efficiency, productivity, and competitiveness.
Can’t get traditional small business loan
Eligibility requirements for fast business loans are generally more lenient than traditional business loans. This means they may be more favorable to those in bad credit situations. Additionally, fast business loans may have less stringent documentation requirements, making them accessible to businesses with limited credit history or collateral.
Are fast business loans affordable?
Interest rates on fast business loans are typically higher than that of traditional business loans, although excellent credit and a high annual revenue may help lower your rate. If you aren’t satisfied with the rate you’re offered, there are alternatives. For more small business loan options, consult our guides to the best LLC loans and best unsecured business loans.
How to choose a fast business loan
The company you do business with will tremendously impact loan requirements, how fast your loan gets approved and how quickly — and how much — you ultimately repay. Consider the following criteria before selecting a loan provider.
- Interest rates - While you shouldn't expect to see a massive variation in the rates offered, rates for fast business loans are usually high. However, some fast business loan providers will look at your personal credit score as well as your business credit score when considering your application. As with all loans, maintaining a higher credit score will get you access to the best small business loan.
- Funding speed - Fast business loans typically fund within one to three business days. Larger loan amounts, such as $250,000 or higher, often take a few extra days.
Reviews and reputation - Much like payday lenders, fast business loan providers don't always have the most stellar reputations. Be sure to scour online reviews, read the fine print in your contract, and ask your loan representative questions as needed before committing to a loan.
Fast Business Loans FAQs
How to get a startup business loan with no money
For startups with no annual revenue yet, the U.S. Small Business Loan Association (SBA) offers microloans of up to $50,000 via approved lenders. New businesses can also consider a startup line of credit. With either option, you might be asked about your business plan, so be sure to have this ready.
You can also consider funding methods that can be used for any purpose. Refer to our guides on the best business credit cards, best personal loans and best debt consolidation loans for additional options.
Is it hard to get a business loan?
If you’re still unsure whether a fast business loan is right for you, consult professional contacts you’ve acquired through business networking. You might find others who have also needed business loans fast, and you can learn from their experiences.
How fast can you get a business loan?
What is a good interest rate for a small business loan?
Can you get a fast business loan for a startup?
Yes, while traditional lenders may require startups to meet stringent standards or outright refuse them loans, fast business loan providers use lenient lending standards when evaluating startups. Loan providers still have requirements that might disqualify some startups, though.
Some factors that loan providers look at include the number of months the business has been active, the small business owner's creditworthiness, debt payment capacity, available collateral business cash flow, credit card sales and bank statements.
How We Chose the Best Fast Business Loans
We evaluated each loan provider against the following five criteria.
- Interest rates: Fast loan providers tend to be online-based. Freed from the cost of physical infrastructure, internet loan providers can offer more competitive interest rates than brick-and-mortar banks. When compiling this list, we only accepted the lenders with the best interest rates.
- Loan amounts: Loan limits typically vary by lender. We evaluated companies with loan amounts ranging from $150,000 to $500,000 for lines of credit. Other loan instruments like term loans stretched into the low millions of dollars.
- Application process: We only chose fast short-term small business loan lenders with simple and straightforward application processes.
- Fees and other costs: We looked at the application fees, loan origination fees, monthly maintenance fees and other common costs associated with fast business loans and business lines of credit.
- Online customer reviews: We looked at what customers had to say on review websites like the BBB. When evaluating customer reviews, we noted trends regarding customer service, interest rates, repayment flexibility and loan application simplicity. We took note of rating aggregators and paid close attention to median ratings.
Summary of Money's Best Fast Business Loans for Quick Cash in 2024
The companies listed below are organized alphabetically.
- Bluevine - Best Business Line of Credit
- Fundbox - Best for Startups
- Lendio - Best Rates
- OnDeck - Best for Quick Funding
- QuickBridge - Best Application Process
- SBG Funding - Best for Fair Credit