Many online lenders provide fast funding within one to three business days. You can also check out our top picks for same-day business loans to get funds even quicker.
| Lender | User ratings | Best for… | Max. loan amount | Term length | Min. interest rate | Time in business |
|---|---|---|---|---|---|---|
 | User ratings coming soon | Line of credit | $250,000 | 6 or 12 months | Not disclosed | 24 months |
 | Bad credit | $1,500,000 | Up to 15 months | 1.10 to 1.40 factor rate | Six months | |
 | User ratings coming soon | Secured business loan | $500,000 | 6 to 84 months | 11.29% | 24 months |
 | Working capital | $100,000 | 12, 18 or 24 months | Not disclosed | Six months | |
 | Short-term loan | $250,000 | 18 to 24 months | Not disclosed | 12 months | |
 | User ratings coming soon | Equipment loan | $500,000 | 6 to 72 months | Not disclosed | Not disclosed |
 | Startups | $150,000 | 3 or 6 months | 4.66% | Six months | |
 | Unsecured business loan | $500,000 | 4 to 24 months | 1.11 factor rate | Six months |
| Loan amounts | $6,000 to $250,000 |
| Starting interest rate | Not disclosed |
| Term length | 6 or 12 months |
| Minimum credit score | 625 |
| Minimum time in business | 24 months |
Need at least $40,000 monthly revenue to qualify
May require weekly repayments
Not available in Nevada, North Dakota or South Dakota
A Bluevine business line of credit is a quick way to access flexible funds for your business. With amounts going up to $250,000, you can tackle various business needs as they arise. Bluevine doesn’t charge any maintenance fees — you only pay interest on the funds you use.However, your business must have been in operation for at least 24 months and earn a minimum of $40,000 per month to qualify.
| Loan amounts | $5,000 to $1,500,000 |
| Starting interest rate | 1.10 to 1.40 factor rate |
| Term length | Up to 15 months |
| Minimum credit score | [mmps name='sbloan.69.credit_score' |
| Minimum time in business | Six months |
Only two funding products
Factor rate makes it difficult to compare loan costs
Need at least $15,000 monthly revenue to qualify
Fora Financial is our top pick for a bad credit business loan since it has a low minimum credit score of 500. Additionally, you don’t need to provide collateral and could receive funds up to $1,500,000 as quickly as 24 to 72 hours after approval.Fora Financial allows you to get a free quote with no commitment to see how much of a business loan you can borrow.
| Loan amounts | $25,000 to $500,000 |
| Starting interest rate | 11.29% |
| Term length | 6 to 84 months |
| Minimum credit score | 660 |
| Minimum time in business | 24 months |
Collateral and personal guarantee required
Must be in business for at least two years
Doesn’t report payments to all credit bureaus
Funding Circle’s secured business loan offers competitive rates, low monthly payments, no prepayment penalties and quick funding times if you can provide collateral. Additionally, Funding Circle has small business loans for women and minority business loans.However, you need a FICO Score of 660 or higher and a minimum of two years in operation to qualify.
| Loan amounts | $5,000 to $100,000 |
| Starting interest rate | Not disclosed |
| Term length | 12, 18 or 24 months |
| Minimum credit score | Not disclosed |
| Minimum time in business | Six months |
Not available in all states
Only one product offered
Lack of transparency around estimated interest rates
A Headway Capital working capital loan could be a good fit if your business earns $50,000 or more in annual revenue and has been operating for at least six months. Funds can be used for various business purposes like payroll, marketing, inventory or covering seasonal lulls.While Headway Capital doesn’t disclose minimum credit score requirements, it follows a holistic approach when evaluating your application and looks at factors other than just your credit score.
| Loan amounts | $5,000 to $250,000 |
| Starting interest rate | Not disclosed |
| Term length | 18 or 24 months |
| Minimum credit score | 625 |
| Minimum time in business | 12 months |
Requires daily or weekly repayments
Doesn’t fund all industry types
Not available in Nevada, North Dakota or South Dakota
OnDeck provides competitive short-term business loans to cover your company’s various needs and expenses. If you qualify, you can receive funds within the same business day that you’re approved. On-time payments can help build your business credit, helping you apply for more business financing in the future.Note that OnDeck isn’t available in all states and doesn’t fund all industries.
| Loan amounts | Up to $500,000 |
| Starting interest rate | 5.49% |
| Term length | 6 to 72 months |
| Minimum credit score | Not disclosed |
| Minimum time in business | Not disclosed |
Lack of transparency about minimum credit score requirements
Rates can vary based on your criteria
No minimum time in business specified
CIT, a division of First Citizens Bank, is an excellent choice for fast equipment financing for various industries. Apply online in as little as three minutes, with funds hitting your business bank account in as soon as one business day.In addition to heavy equipment loans, First Citizens offers business credit cards, business loans, lines of credit and SBA loans.
| Loan amounts | Up to $150,000 |
| Starting interest rate | 4.66% for 3-month terms 8.99% for 6-month terms |
| Term length | 3 or 6 months |
| Minimum credit score | 600 |
| Minimum time in business | Six months |
Max borrowing amount is relatively low
Offers only one product
Doesn’t fund all industries
A Fundbox business line of credit is our top pick for a fast startup business loan with a low minimum credit score and time-in-business requirement. Newly established businesses can access up to $150,000 on a revolving basis, only paying interest on the amounts withdrawn.Fundbox also offers the option to upgrade to Fundbox Plus to pay 20% less on fees, have more time to pay and other exclusive benefits.
| Loan amounts | $5,000 to $500,000 |
| Starting interest rate | 1.11 factor rate |
| Term length | 4 to 24 months |
| Minimum credit score | 600 |
| Minimum time in business | Six months |
Misleading website marketing makes it appear like the lender offers more than two loan options
High annual revenue requirement
Factor rate makes it hard to compare other lenders
National Funding offers unsecured business loans to business owners with no collateral. With funds up to $500,000 and a dedicated Funding Specialist, National Funding is ready to help you take your business to the next level.Other National Funding benefits include early payoff discounts, flexible term lengths and a low minimum credit score requirement. However, you must have $250,000 or more in annual sales to qualify for a National Funding term loan.
A quick business loan is any type of business financing where the application and funding process can be completed within one to three business days.
Typically offered by online lenders, fast business loans use a streamlined application process to assess your eligibility.
Fast business loans tend to have flexible qualification requirements, making them an ideal choice for startups, bad credit borrowers or those who don’t qualify for traditional financing.
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The repayment period for a quick business loan varies by lender, with terms ranging from six to 84 months.
While rates can start as low as 4.66%, your actual quick business loan interest rate will depend on the loan type, credit score and other criteria. Note that quick business loan rates are typically higher than traditional bank business loans — a price you pay for the speedy convenience of fast business financing.
Some lenders may charge additional fees for quick business loans, including origination, maintenance, late and prepayment fees.
Lenders typically review the following when determining your eligibility for quick capital funding:
Credit score: Your personal FICO Score and business credit report are critical in determining your creditworthiness. While alternative lenders typically require a minimum credit score of 500 or higher, having a higher score can help you secure a lower interest rate.
Time in business: Most lenders require a steady track record of one to two years in operation before approving your loan application. However, certain lenders will finance startups that have been in business for at least six months.
Annual revenue: You must show reliable income to qualify for small business financing. Some quick business lenders accept annual revenues as low as $50,000, while others want to see $480,000.
Quick business loans can be secured or unsecured. A secured business loan requires collateral, such as equipment or a down payment. If you fail to repay the debt, the lender could seize your assets.
While an unsecured quick business loan doesn’t require collateral, some lenders may require you to sign a personal guarantee. This means you could lose certain assets if you default on your business loan.
Thing to knowYou might struggle to qualify for an unsecured vs. secured business loan if your business has not established a solid financial history. Since secured business loans use collateral to reduce lender risk, small business owners can potentially unlock more attractive rates and terms with this option.
Here is how to get a quick business loan in six steps.
Create a detailed business budget to determine how much you need to cover essential or ongoing expenses. Remember, quick business loans typically have higher interest rates. If you’re considering tackling long-term projects, it’s worth waiting until you qualify for an SBA or long-term business loan.
Most lenders will outline their basic business loan requirements on their website, such as minimum credit score, annual revenue, collateral and down payments and other criteria. Keep in mind that while online lenders tend to be more lenient with qualification requirements, they also charge higher fees than brick-and-mortar banks.
Check your credit scores before applying for fast small business loans to know your options.
Boosting your credit score now can help open the door for more competitive financing offers in the future.
Once you’ve narrowed your best fast loan options, pay attention to each lender’s details. Some lenders advertise low interest rates, only to add extra fees later in the application process. Read business lender reviews to stay aware of any predatory lenders.
If you want a speedy loan application process, gather general business documents in advance. These typically include a business plan, personal and business tax returns, financial statements and a balance sheet.
The application and approval timeline for fast loans for business generally happens within a few business days. You may need to provide additional documents after hitting submit, but most online lenders make a final decision within minutes.
| Pros | Cons |
|---|---|
Get the funds you need within one to three business days Ideal for low-credit borrowers and startups Various types of loan products to tackle most business needs | Typically have higher interest rates Smaller loan amounts Collateral is often required |
Many online lenders provide fast funding within one to three business days. You can also check out our top picks for same-day business loans to get funds even quicker.
Most SBA loans have an extensive application process, with decisions taking up to 10 days or longer. However, the SBA Express loan is a speedier version of the popular SBA 7(a) loan, offering a turnaround time of 36 hours. Keep in mind that the SBA doesn’t enforce strict guidelines on when a lender needs to disburse funds, so your waiting time could still be significantly longer than our other quick business loan options.
Typically, you need a credit score in the mid-600s to qualify for small business loans. However, many lenders work with low-credit business owners, including those with scores as low as 500. Just remember that the higher your credit score, the more likely you will receive a better interest rate.