How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Here are 7 fast business loans
| Lender | NerdWallet Rating▼ | Max loan amount▼ | Min. credit score▼ | Next steps |
|---|---|---|---|---|
Fora Financial - Online term loan with Fundera by NerdWallet | 4.7/5 Best for borrowers with bad credit | $1,500,000 | 570 | with Fundera by NerdWallet |
Bluevine - Line of credit with Fundera by NerdWallet | 5.0/5 Best for fast draws | $250,000 | 625 | with Fundera by NerdWallet |
iBusiness Funding - Online term loan with Fundera by NerdWallet | 4.2/5 Best for long-term financing | $500,000 | 660 | with Fundera by NerdWallet |
Headway Capital - Line of credit with Fundera by NerdWallet | 4.7/5 Best for startups | $100,000 | 625 | with Fundera by NerdWallet |
OnDeck - Online term loan with Fundera by NerdWallet | 4.8/5 Best for short-term business loans | $250,000 | 625 | with Fundera by NerdWallet |
National Funding - Equipment financing with Fundera by NerdWallet | 4.6/5 Best for equipment loans | $150,000 | 600 | with Fundera by NerdWallet |
AltLINE - Invoice factoring | 4.7/5 Best for B2B companies | $5,000,000 | 300 | Read Review |
Fora Financial: Best for borrowers with bad credit
Funding speed: Within 72 hours
Why it may be worth it: Fora Financial can offer money to business owners who have bad personal credit scores, and it doesn’t require collateral. If you have the revenue to support the loan, this can be a lifeline if you can’t qualify elsewhere. In addition, you’ll get a discount if you’re able to pay your loan off early.
Be mindful of: Rather than an interest rate, Fora charges a factor rate for funding, which can make it tricky to compare with other lenders and to understand the total cost of your loan. Make sure you convert your factor rate to an APR before committing to a loan.
Bluevine: Best for fast draws
Funding speed: Within a few hours (for an extra fee)
» MORE: Read our Bluevine review.
Why it may be worth it: Bluevine can approve and provide funding within a few hours — instantly if you have a free Bluevine Business Checking account, or for a $15 wire fee if you don’t. This access to fast funding on draws throughout the life of your loan offer means ongoing flexibility, which can come in handy in the event of unexpected expenses or business opportunities.
Be mindful of: Bluevine requires weekly repayments, which can be tricky depending on your business’s revenue. If your business doesn’t have the cash flow to support weekly payments, look elsewhere.
iBusiness Funding: Best for long-term financing
Funding speed: 48-72 hours
Why it may be worth it: iBusiness Funding offers some of the longest repayment terms you’ll find with an online business loan — up to seven years. Because of this, it may be an ideal option for larger purchases that would be better to finance over a longer time period.
Be mindful of: Though it may be easier to qualify for than bank or SBA loans, iBusiness Funding’s minimum credit score requirement of 660 is higher than other online lenders. If you can meet the credit score requirement and can wait for funding, you may save on interest by opting for more traditional lenders.
Headway Capital: Best for startups
Funding speed: Next business day
Why it may be worth it: Headway Capital only requires six months in business and about $4,200 in monthly revenue to qualify for its line of credit. This combined with its flexibility on repayment terms and repayment schedules makes it a good option for newer businesses that are still building revenue.
Be mindful of: Headway charges a 2% fee for each draw made on your credit line, so you’ll want to be careful about making too many draws over a short period of time. Make sure you understand the purpose for your funds each time you make a draw request.
OnDeck: Best for short-term business loans
Funding speed: Same day funding is available in certain states for loans up to $100,000
» MORE: Read our OnDeck review.
Why it may be worth it: If you’re approved, OnDeck can deposit up to $100,000 within the same business day, allowing you to take advantage of an unexpected business opportunity or cover an emergency expense. Additionally, repayments, though frequent, are fixed, which makes them predictable and more manageable to account for in your business’s cash flow.
Be mindful of: Though OnDeck says it tailors your repayment schedule and payment amounts to your business, be aware that it requires either daily or weekly payments. Make sure you can manage such frequent payments, especially when considering other business expenses.
National Funding: Best for equipment loans
Funding speed: As fast as 24 hours
Why it may be worth it: National Funding is an equipment financing company with experience funding a wide variety of industries, including medicine, agriculture, food service and more. A lender that understands the nuances of your industry and its equipment can help the funding process move even faster.
Be mindful of: National Funding has a fairly high minimum revenue requirement of $250,000, making it a better option for more established businesses.
AltLINE: Best for B2B companies
Funding speed: 24 - 48 hours
» MORE: Read our review of AltLINE.
Why it may be worth it: As an invoice factoring company, AltLINE can help B2B businesses access capital without relying on personal credit, additional collateral, time in business or business revenue. AltLINE also takes over collecting payment from your customers, which can free up your or your employees’ time to focus on your business.
Be mindful of: Invoice factoring can be an expensive form of financing, so this shouldn’t be your first choice simply because you’re a B2B company. If you can qualify for another type of financing, you may save money on fees and interest.
A fast business loan is a type of financing that can be funded within a short timeframe — typically one to three business days. The quickest business loans are usually issued by online lenders, which offer simple, streamlined application processes and may utilize technology to speed up the funding process. Fast business loans tend to have flexible qualification requirements and may be available to startups or borrowers with bad credit.
Speed and convenience come at a cost, however. These loans typically have higher interest rates and shorter repayment terms compared to traditional financing options, such as bank and SBA loans.
Pros
Access to capital within a few business days.
Streamlined application processes; typically minimal documentation required.
Startups and borrowers with bad credit may qualify.
Cons
Interest rates are often higher than other options.
Tend to have shorter repayment terms and smaller funding maximums.
May require more frequent payments (weekly or daily).
You need to pay for immediate expenses
If you need to cover emergency costs, fill a temporary cash flow gap or take advantage of an unexpected opportunity, these loans can provide the business capital you need — fast.
Some quick business loans offer funding in as little as 24 hours. In certain situations, it can be worth it to pay a little more for fast access to the money you need.
You want bridge funding until you get a long-term loan
If you need quick business funding to hold you over temporarily until you secure a long-term loan, a quick business loan can be an option.
A fast business loan can be used as a commercial bridge loan to fund a project or opportunity while you submit an application and get approved for a more permanent loan with a longer term and better rates.
You can’t qualify for other types of financing
If you can’t qualify for a bank or SBA loan, a fast business loan from an online lender may be a good option. Online lenders tend to have more flexible qualification requirements — and although interest rates are typically higher than conventional business loans, you’ll have a variety of options to compare and choose from.
Plus, whereas bank and SBA loans can take anywhere from weeks to months to fund, you’ll be able to apply and receive funding in just a few days.
Common quick business loans include:
These loans offer lump sums of money that you borrow from a lender and repay over a set period of time, with interest. A business term loan can be a good option for a range of purposes including working capital, hiring new employees and large purchases.
Similar to a credit card, a line of credit gives you access to a set amount of money that you can borrow as needed. You only pay interest on the funds you withdraw — and as long as you make timely repayments and don’t exceed your credit limit, you can continue to borrow up to the limit.
Business lines of credit can be used for working capital, cash flow gaps, seasonally slow periods and emergency funding.
Equipment loans are used specifically to buy machinery or equipment for your business and are secured by what you purchase. Loan amounts can reach up to 125% of the value of the equipment you’re looking to purchase — 100% for the equipment and 25% for soft costs. Soft costs can include delivery, installation, assembly, warranties and other one-time expenses. You repay equipment loans over time, with interest.
These types of financing allow you to use your unpaid invoices to access capital. Invoice financing allows you to borrow against your outstanding invoices, while factoring involves selling your invoices to a factoring company at a discount.
Invoice factoring and financing are good options for business-to-business companies that have cash tied up in unpaid invoices.
With a merchant cash advance, or MCA, a company gives you a lump sum of money that you repay using a portion of your debit and credit card sales, plus a fee.
MCAs can be useful for businesses that have substantial debit and credit card sales — but you should consider all other options first. MCAs often have high APRs and can create a harmful cycle of debt.
The right loan for your small business depends on your specific funding needs and your business’s qualifications.
Learn more
🤓 Nerdy Tip
Although there are many reputable online lenders on the market, predatory lenders may try to take advantage of borrowers who are in a rush for funding. Be wary of any lenders that try to push you too quickly through the loan process without showing loan terms and rates upfront. These types of lenders may also try to make promises like guaranteed approval or business loans with no credit check.» MORE: Best small-business lenders
While you may be in a hurry to get business financing, take some time to consider the following factors before accepting any loan agreement:
Funding speed | All the loans on our list can provide funding in three business days or faster. You’ll want to make sure any lender you’re considering can process and fund your loan within the timeframe you need. |
Interest rate and APR | Lenders that offer the fastest funding may also have the highest rates and fees. Review the interest rates offered and the corresponding annual percentage rate. It’s important to look at the APR because it factors in loan fees and gives the actual yearly cost of a loan. |
Monthly payment amount | Before you commit to a loan agreement, compare the amount and frequency of payments to make sure they fit into your budget. A business loan calculator can help you estimate your payment amounts. |
Loan term | Fast business lenders may offer shorter repayment terms than traditional loans. Longer loan terms can mean smaller monthly payments, in some cases. A short loan term could mean that you pay less in interest. |
Collateral requirements | Check to see if the lender requires collateral or if offering it will improve your loan terms. In either case, review available assets — such as accounts receivable, equipment and real estate — that can back up the loan. Keep in mind that while collateral can improve your approval chances, appraisals and gathering other information can add to the processing time. |
Prepayment penalty | Look to see if any lenders you’re comparing have prepayment penalties that charge you a fee if you pay the loan off early. These types of fees have the potential to add to the cost of a loan and may prevent you from making the best long-term decision for your business. |
Check online forums and reviews | While individual experiences with small-business lenders vary, it can be a good idea to do a quick online search to see what other borrowers say about the lenders you’re considering. For example, you may be able to read customer reviews and anecdotes from other small-business owners on sites such as Trustpilot or Reddit. |
Speed can be useful when it comes to business financing, but it often results in higher interest rates. If you don’t need a same-day business loan and can wait a little longer for capital, you might consider these alternatives:
The best loan for your business is typically the one with the most competitive interest rates and repayment terms. If you can meet the strict requirements to qualify for a business bank loan, these will likely be your most affordable option — and may be worth the longer funding process.
Like bank loans, SBA loans offer long repayment terms and competitive interest rates. Although you’ll need good credit and finances to qualify, it can be slightly easier to get an SBA loan compared to a bank loan. The funding process, however, may take anywhere from 30 to 90 days. Working with an SBA preferred lender or opting for an SBA Express loan can help expedite the process.
These small-dollar loans are available in amounts up to $50,000 and are issued by nonprofit and community-based lenders. Microloans are often designed to provide financing to borrowers in underserved communities. Although these loans may be slower to fund than online options, they can be a good choice for businesses that can’t qualify for bank or SBA funding.
Business credit cards can help you cover everyday expenses and allow you to earn rewards on your spending. You can usually apply for and get approved for a business credit card quickly — and qualifications are largely based on your personal credit history. Like a personal credit card, you’ll want to make sure you pay the balance on your business credit card each month, or you’ll be subject to fairly high interest rates.
Business grants involve time and planning. However, unlike other forms of financing, grants don’t require repayment. Federal government agencies, corporations, nonprofits and others offer business grants that can be used to start a business, buy supplies, hire staff and other purposes.
Last updated on February 26, 2025
Methodology
NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer small-business friendly features, including:
- Transparency of rates and terms.
- Flexible payment options.
- Fast funding times.
- Accessible customer service.
- Reporting of payments to business credit bureaus.
- Responsible lending practices.
We weigh these factors based on our assessment of which are the most important to small-business owners and how meaningfully they impact borrowers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodology for small-business loans and our editorial guidelines.
Wondering if you qualify?
It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.
See Your Loan Options
Frequently Asked Questions
Some online lenders can approve and fund business loans quickly, in 24 hours or less. Bank and SBA lenders, on the other hand, may take several weeks or months to fund applications.
In general, funding speed varies based on the lender, loan type and underwriting process, among other factors.
Standard SBA loans are typically approved and funded within 30 to 90 days. The process can be expedited if you work with an SBA preferred or Express lender, as these institutions can make final credit decisions without sending applications to the SBA.
Online lenders usually offer easy business loans to qualify for, although interest rates are higher than other loan options. These loans are generally fast to fund, with streamlined application processes.
The quickest way to get a business loan is usually through a merchant cash advance. These products can be funded within the same day and typically require little documentation as part of the application process. MCAs are also one of the most expensive types of financing, however, so you’ll want to consider all other options before turning to an MCA.