A business line of credit is a great form of flexible, renewable financing. And it’s even better if you can get it as soon as you need it. Consider these lenders that offer instant approval — or at least fast — and funding within a day.
Best instant approval business lines of credit
- Best for comparing lenders: Lendio
- Best for minimal fees and low rates: Bluevine
- Best for fair credit: OnDeck
- Best for multiple options: U.S. Bank
- Best for short-term credit lines: Fundbox
- Best for larger lines of credit: Kapitus
Best for comparing lenders
9.6 Excellent
If you'd like someone to do the comparison shopping for you, consider a marketplace like Lendio. It has a large network of lenders, many of which may offer an instant business line of credit. Credit lines run anywhere from $1,000 to $500,000 and rates start as low as 8% — although they could go as high as 60%, depending on the lender. And Lendio may require a fair amount of paperwork to qualify.
Loan amount | $1,000 to $500,000 |
---|---|
APR | Varies by lender |
Min. Credit Score | 560 |
Loan amount | $1,000 to $500,000 |
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APR | Varies by lender |
Min. Credit Score | 560 |
Best for minimal fees and low rates
8.6 Great
Unlike many lenders that offer instant approval business lines of credit, Bluevine doesn't charge fees for opening, maintaining, prepaying or closing your account. And, it can give you a decision in as fast as five minutes, with rates starting as low as 7.8%. A Bluevine line of credit also comes with a complimentary business checking account, giving you faster access to your funds. But it's not available in all states, may require weekly repayments and isn't offered to all businesses.
Loan amount | Up to $250,000 |
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APR | As low as 7.8% |
Min. Credit Score | 625 |
Loan amount | Up to $250,000 |
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APR | As low as 7.8% |
Min. Credit Score | 625 |
Best for fair credit
9.4 Excellent
If your credit isn't the best, OnDeck offers fast approval lines of credit to borrowers with a minimum credit score of 625, as long as you've been in business for at least a year and have $100,000 or more in annual revenue. Credit lines range from $6,000 to $100,000, and it offers flexible and customizable repayment terms and doesn't charge draw fees. But its interest rates can be a little high, and a minimum draw may be required at origination.
Loan amount | $6,000 to $100,000 |
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APR | 35.9% |
Min. Credit Score | 625 |
Loan amount | $6,000 to $100,000 |
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APR | 35.9% |
Min. Credit Score | 625 |
Best for multiple options

U.S. Bank offers fast approval and funding on various business lines of credit, including a secured credit line up to $250,000 or an unsecured line up to $100,000. It also has an equity line of credit or its Reserve Line, which acts as overdraft protection for your business bank account. Rates for the secured line of credit are between the prime rate plus 3.49% and prime plus 6.49%, and it offers autopay and relationship discounts. But depending on the credit line, you may have to pay an annual fee, and some credit line applications can't be completed online.
Loan amount | $10,000 to $250,000 |
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APR | Prime + 3.49% to prime + 6.49% |
Loan amount | $10,000 to $250,000 |
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APR | Prime + 3.49% to prime + 6.49% |
Best for short-term credit lines
8.4 Great
For newer businesses in need of short-term financing in a hurry, Fundbox offers instant approval business lines of credit, with a decision in as fast as three minutes. Its credit lines are smaller than some at only $150,000, but that might be just the right fit for loan terms of 12 or 24 weeks. It also has flexible repayment terms where you choose the repayment plan each time you make a draw, with no prepayment penalties. Or if you sign up for a Flex Pay account, you have an extra three business days to repay — with no fees — if paid by ACH or debit card.
Loan amount | Up to $150,000 |
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APR | Not stated |
Min. Credit Score | 600 |
Loan amount | Up to $150,000 |
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APR | Not stated |
Min. Credit Score | 600 |
Best for larger lines of credit

9.2 Excellent
Kapitus offers business lines of credit up to , a much higher limit than what most lenders offer, which typically tops out at $250,000 or $500,000. And it can fund your loan as soon as the same day. But you'll need at least two years in business and $180,000 in annual revenue, and it doesn't disclose its rates or fees until you apply.
Loan amount | $10,000 to $250,000 |
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Min. Credit Score | 650 |
Loan amount | $10,000 to $250,000 |
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Min. Credit Score | 650 |
Methodology: How we chose these lenders
Finder’s business loan experts analyzed dozens of lenders offering business lines of credit with fast approval and funding. We ultimately chose lenders that have streamlined application and approval processes to get funding to your business as quickly as possible. We also took into account other factors, such as rates and loan terms, fees and requirements needed to qualify.
The criteria we evaluate includes:
- Additional fees
- Credit line loan amounts
- Credit score requirements
- Interest rates
- Loan terms
- Repayment plans
- Reputation of the lender
- Revenue requirements
- Time in business requirements
- Turnaround times
Finder also maintains strict editorial integrity and independence. Our content and suggestions are fair, accurate and trustworthy, and our advertisers or partners don’t influence our opinions. To learn more, check out our editorial guidelines.
How to compare business lines of credit
Consider these factors when choosing the right instant approval business line of credit for your company:
- Turnaround times. Funding can be relatively quick for business lines of credit, but the funding process may take longer for some lenders. Being prepared with all the required documentation — or looking into no-doc LOC lenders — can help to speed up the process.
- Rates. Interest rates vary widely between lenders. Comparing multiple lenders helps you find the best line of credit rates.
- Fees. Lenders that offer business lines of credit typically charge a variety of fees, including origination, maintenance and draw fees, among others. Look for lenders that charge minimal fees to help you save money.
- Lender requirements. Most lenders have minimum revenue and time in business requirements. Before you apply, make sure you meet the criteria of lenders you’re interested in.
- Loan terms. Business lines of credit often have relatively short loan terms — and some require weekly payments — so be sure your budget can manage the repayment schedule.
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What is a business line of credit and how does it work?
A business line of credit is a revolving line of credit that works kind of like a credit card, although it gives you more affordable access to cash. But like a credit card, you only pay interest on the money you spend. The loans can be either secured or unsecured LOCs, and some may not require a personal guarantee.
If approved for a business line of credit, you’ll be offered a preset credit line up to $500,000 or more. Then, you can draw on those funds as often as you need to, as long as you don’t exceed the limit. As you pay down the balance, your funds are replenished.
In general, business lines of credit lenders have flexible repayment terms. Typically, you’re only required to make interest payments during the draw period, but you can always pay more if you like, which saves you on interest charges. Lines of credit generally have short loan terms of two years or less, although some may extend longer than that.
Pros and cons of business lines of credit
Consider the benefits and drawbacks of a business line of credit before deciding if it’s the right kind of funding for your business.
Pros
- Only borrow as much as you need
- Renewable funding source
- May be easier to qualify for than other business loans
- Can help build business credit
Cons
- Often come with multiple fees
- Interest rates can be higher than some loan options
- Loan terms are usually relatively short
- May require weekly repayments
How to qualify for a business line of credit
Most lenders that offer business lines of credit look at your credit score, how long you’ve been in business and how much revenue you make.
- Revenue. Revenue requirements can vary significantly by lender and affect how much you can borrow, your rate and loan term. Lenders typically require a minimum of $10,000 in monthly revenue, but some may consider businesses with lower revenue.
- Time in business. Most lenders require that you’ve been in business for at least six months, although some require a year or two.
- Credit score. You’ll most likely need a credit score of at least 600 to qualify, although a few lenders may consider borrowers with lower scores. However, a score of 700 or higher may get the best rates and terms.
- Business checking account. You likely need an active business checking account. Lenders may require it to verify your banking activity, use it to deposit funds or to automatically deduct your payments.
How to apply for a business line of credit
Applying for a business line of credit can vary by lender, but here are the basic steps:
- Determine how much you need. Define your goals for the funding and how much you think you’ll need.
- Look at your budget. Calculate how much you can afford for your loan payments, keeping in mind that some lenders may require weekly or bi-weekly payments.
- Check your credit score. Knowing your credit score before applying will help guide you toward lenders that accept borrowers in your credit range. While you’re at it, make sure your credit report is accurate, too.
- Compare lenders. Compare interest rates, fees and loan terms from multiple lenders to find the best deal.
- Research requirements. Research lender requirements before you apply to make sure you qualify. For example, if you’ve only been in business for six months, you’ll need to find lenders that consider newer businesses.
- Gather your documents. To speed up the loan process, make sure you have all the necessary documentation on hand.
- Apply. Once you’ve chosen a lender, follow the instructions to apply for a line of credit, submitting any required documents.
Alternatives to business lines of credit
If you don’t qualify for a business line of credit or want to explore other options, consider these alternatives:
- Business credit card. Credit limits for business credit cards are usually lower than lines of credit, but they could be easier to qualify for.
- Personal line of credit. If you don’t meet the requirements for a business line of credit, you may still qualify for a personal line of credit.
- Personal loan. You may want to consider a personal loan to fund your business, which is generally easier to qualify for than a business line of credit.
- Home equity line of credit (HELOC). If you own your home, you may want to look into a HELOC, a line of credit that borrows against your home’s equity. Or you could get a home equity loan that also uses your home as collateral but provides the funds in a lump sum.
- Personal credit cards. You could use your own credit card to finance your business, but beware of high rates if you can’t pay it off quickly. Or you could apply for a new card with a 0% introductory rate and take advantage of interest-free financing for up to 18 months or more.
Frequently asked questions
Can a new LLC get a business line of credit?
Most lenders that offer business lines of credit are willing to work with LLCs. But if you’re new, you’ll need to search for lenders with lower minimum time in business requirements. Most, however, want to see at least six months in business.
What is the minimum credit score for a business line of credit?
For the most part, lenders require a credit score of at least 600, although some require 670 or higher to qualify. However, if you look around, a few lenders accept lower scores, but you should expect higher rates.
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