A fast business loan is a small business loan that a lender is able to fund quickly – within a few business days or less. Fast business loans come in many forms, including: short- and long-term business loans, lines of credit, equipment financing, merchant cash advances and invoice financing.
As long as you can show sufficient revenue, time in business and meet the lender’s minimum credit requirements, you may qualify for a quick business loan. Online lenders tend to have relaxed requirements and are usually the best place to go for a quick business loan.
Here is our list of the top fast business lenders to get you the cash that you need quickly.
35+ business loan lenders reviewed and rated by our team of experts
12+ types of business loans analyzed
Evaluated under our unbiased rating system covering 10+ categories
20+ years of combined experience covering financial topics
We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.
The Lendio marketplace partners with 75+ lenders to help you find a loan quickly. Its partners offer a wide range of fast loans, including 24-hour turnaround term loans, cash advances, accounts receivable financing and equipment loans. It also offers business lines of credit with a 48-hour turnaround.
To view your loan options, you fill out a single online form with your information and are connected with lenders who may be able to get you a fast loan – even with a credit score as low as 500 for some loan types. But be prepared to receive a large number of marketing calls and emails.
Loan amount
$1,000 – $5,000,000
APR
Varies by lender
Min. Credit Score
500
The Lendio marketplace partners with 75+ lenders to help you find a loan quickly. Its partners offer a wide range of fast loans, including 24-hour turnaround term loans, cash advances, accounts receivable financing and equipment loans. It also offers business lines of credit with a 48-hour turnaround.
To view your loan options, you fill out a single online form with your information and are connected with lenders who may be able to get you a fast loan – even with a credit score as low as 500 for some loan types. But be prepared to receive a large number of marketing calls and emails.
Pros
Network of 75+ lenders
Wide range of financing options
Options for poor credit
Cons
Not a direct lender
Funding fees apply to your loan
Marketing may continue after being funded
Loan amount
$1,000 – $5,000,000
APR
Varies by lender
Min. Credit Score
500
Loan term
3 months to 25 years
Requirements
Operate business in US or Canada for 6 months or more, have a business bank account, minimum 500 personal credit score, at least $20,000 in monthly revenue
OnDeck offers fast-turnaround lines of credit (LOC) and term loans that can be funded as soon as same-day, depending on the state. But its rates can run high. OnDeck states that its average term loan rate is 60.9% APR and its average LOC rate is 52.6% APR.
While you must be in business for at least one year with $100,000 in annual revenue to qualify, OnDeck only requires a minimum credit score of 625. There are no prepayment penalties on its term loans or draw fees on its line of credit (LOC), so you can save on interest by paying early.
Loan amount
$6,000 – $100,000
APR
52.6% average APR
Min. Credit Score
625
OnDeck offers fast-turnaround lines of credit (LOC) and term loans that can be funded as soon as same-day, depending on the state. But its rates can run high. OnDeck states that its average term loan rate is 60.9% APR and its average LOC rate is 52.6% APR.
While you must be in business for at least one year with $100,000 in annual revenue to qualify, OnDeck only requires a minimum credit score of 625. There are no prepayment penalties on its term loans or draw fees on its line of credit (LOC), so you can save on interest by paying early.
Pros
Low-doc application
Same-day funding possible
No prepayment penalties or draw fees
Cons
Potentially high APRs
Weekly repayments on LOC
Not available to all industries
Loan amount
$6,000 – $100,000
APR
52.6% average APR
Min. Credit Score
625
Loan term
Up to 24 months
Requirements
Companies in business at least 1 year, $100,000+ in gross annual revenue, majority owner with a 625+ personal credit score, active business checking account
FundThrough offers quick invoice financing and invoice factoring, thanks to its fully automated platform which connects to QuickBooks or OpenInvoice to sync them automatically. And if you opt for invoice financing, you could get funded as soon as the next business day.
And unlike most companies, FundThrough may be able to advance you 100% of your accounts' receivables with invoice factoring. Other companies only offer advances of 80% or 90%. Fees vary between 2.75% and 8.25%, depending on the net term length.
Loan amount
$500 – $10,000,000
APR
Not applicable
Min. Credit Score
500
FundThrough offers quick invoice financing and invoice factoring, thanks to its fully automated platform which connects to QuickBooks or OpenInvoice to sync them automatically. And if you opt for invoice financing, you could get funded as soon as the next business day.
And unlike most companies, FundThrough may be able to advance you 100% of your accounts' receivables with invoice factoring. Other companies only offer advances of 80% or 90%. Fees vary between 2.75% and 8.25%, depending on the net term length.
Pros
Funds available in as little as 24 hours
Invoice factoring and financing available
Transparent costs and calculator
Cons
Weekly payments required
Most funding capped at $50,000
Must connect financial accounts
Loan amount
$500 – $10,000,000
APR
Not applicable
Min. Credit Score
500
Loan term
1 to 3 months
Requirements
At least $100k in accounts receivable to one customer, invoice B2B or government agencies, invoices are for completed work, no construction or real estate, no explicit liens on receivables
SBA loans are term loans offering competitive rates and can be used for a range of purposes. The downside is that they typically take two to three months to process. But not with SmartBiz. If you apply for an SBA loan with the SmartBiz marketplace, you could have your funds in as soon as 30 days.
In addition to faster funding times, SmartBiz helps speed up the SBA application process by allowing you to fill out a single form to get matched with multiple SBA lenders. Prequalification takes a few minutes, but SmartBiz charges a 2% referral fee and 2% packaging fee if your loan is approved.
Loan amount
$30,000 – $500,000
APR
Prime Rate, plus 2.75% to 4.75%
Min. Credit Score
650
SBA loans are term loans offering competitive rates and can be used for a range of purposes. The downside is that they typically take two to three months to process. But not with SmartBiz. If you apply for an SBA loan with the SmartBiz marketplace, you could have your funds in as soon as 30 days.
In addition to faster funding times, SmartBiz helps speed up the SBA application process by allowing you to fill out a single form to get matched with multiple SBA lenders. Prequalification takes a few minutes, but SmartBiz charges a 2% referral fee and 2% packaging fee if your loan is approved.
Pros
Help with SBA loan applications
Online prequalification available
Good customer reviews
Cons
Up to 4% in fees
Minimum loan amount is $30,000
Loan amount
$30,000 – $500,000
APR
Prime Rate, plus 2.75% to 4.75%
Min. Credit Score
650
Loan term
10 years
Requirements
650+ credit score, 2+ years in business, $50,000+ in annual revenue, no bankruptcies or foreclosures in past 3 years
Credibly offers merchant cash advances up to $600,000 with a factor rate of 1.11, making it one of the more affordable options out there. And it's fast: Credibly advertises that it can get you approval in as little as four hours, and funding in as little as 24 hours if you're approved.
To qualify, you need to be in business for at least 6 months and be able to show $15,000 a month in average monthly bank deposits. Credibly gets overwhelmingly positive reviews on Trustpilot and only requires a 500 credit score to qualify.
Loan amount
$5,000 – $600,000
APR
Not applicable
Min. Credit Score
500
Credibly offers merchant cash advances up to $600,000 with a factor rate of 1.11, making it one of the more affordable options out there. And it's fast: Credibly advertises that it can get you approval in as little as four hours, and funding in as little as 24 hours if you're approved.
To qualify, you need to be in business for at least 6 months and be able to show $15,000 a month in average monthly bank deposits. Credibly gets overwhelmingly positive reviews on Trustpilot and only requires a 500 credit score to qualify.
Pros
Same-day funding available
Requires only 6 months in business
Low credit score requirement
Cons
Doesn't disclose remittance percentage
Admin fee of $50 per month
Loan amount
$5,000 – $600,000
APR
Not applicable
Min. Credit Score
500
Loan term
3 to 24 months
Requirements
6+ months in business, $15K+ in monthly deposits, 500+ credit score, Need business bank account
Best for fast equipment financing: National Funding
National Funding business loans
4.6
★★★★★
Finder score
National Funding works its network of lending partners to offer new and used equipment financing and leasing up to $150,000. It funds up to 100% of the equipment cost with no down payment required, and it advertises that you could have funding in as little as 24 hours.
And if you find a lower monthly lease payment elsewhere, National Funding will pay $1,000 toward your equipment lease. National Funding gets excellent customer reviews online and also offers early payment discounts to help you save.
Loan amount
$5,000 – $500,000
APR
Undisclosed
Min. Credit Score
600
National Funding works its network of lending partners to offer new and used equipment financing and leasing up to $150,000. It funds up to 100% of the equipment cost with no down payment required, and it advertises that you could have funding in as little as 24 hours.
And if you find a lower monthly lease payment elsewhere, National Funding will pay $1,000 toward your equipment lease. National Funding gets excellent customer reviews online and also offers early payment discounts to help you save.
Pros
Quick turnaround funding
No down payment required
Highly rated by past customers
Cons
Low maximum loan amount
Rates not advertised
Loan amount
$5,000 – $500,000
APR
Undisclosed
Min. Credit Score
600
Loan term
24 to 60 months
Requirements
In business 6+ months and make at least $250,000 in annual sales. Other loan types have additional requirements.
Loan amount
$5,000 – $500,000
APR
Undisclosed
Min. Credit Score
600
Best for fast startup loans: Finance Factory
Finance Factory business loans
4.1
★★★★★
Finder score
Finance Factory allows entrepreneurs to quickly search for a range of financing options, including business credit cards, personal loans and lines of credit. If you qualify, you could borrow between $5,000 and $350,000, with funding times between seven and 10 days – which is faster than the typical two to four weeks to find a startup loan.
While it's not a direct lender, it's transparent about its interest rates, terms and requirements. To qualify, you need a minimum credit score of 700 – although 700+ is better – and a minimum monthly account balance of $1,000 to $5,000, along with other criteria.
Loan amount
$5,000 – $350,000
APR
0% to 15%
Min. Credit Score
700
Finance Factory allows entrepreneurs to quickly search for a range of financing options, including business credit cards, personal loans and lines of credit. If you qualify, you could borrow between $5,000 and $350,000, with funding times between seven and 10 days – which is faster than the typical two to four weeks to find a startup loan.
While it's not a direct lender, it's transparent about its interest rates, terms and requirements. To qualify, you need a minimum credit score of 700 – although 700+ is better – and a minimum monthly account balance of $1,000 to $5,000, along with other criteria.
Pros
Multiple options for startups
Transparent with rates
Award-winning support team
Cons
Not a direct lender
Few options for fair or bad credit
Funding may take longer than other lenders
Loan amount
$5,000 – $350,000
APR
0% to 15%
Min. Credit Score
700
Loan term
Up to 7 years
Requirements
600 to 800 credit score, no required years in business or monthly cashflow, though $1,000 to $5,000 monthly is preferred
Loan amount
$5,000 – $350,000
APR
0% to 15%
Min. Credit Score
700
Methodology: How we choose the best business loans
Our lending experts analyze dozens of business loan providers to narrow down the best and fastest for business owners and startups. We search for lenders that suit a range of needs, including ones that offer fast approval and funding times and competitive interest rates.
We weigh lenders against 12 key metrics:
Rates
Fees
Application process
Lender reputation
Eligibility requirements
Credit score minimums
Products offered
Willingness to work with risky industries
Minimum and maximum loan amounts
Customer service reviews
Funding turnaround times
Extra features
What is a fast business loan?
A fast business loan is a loan or financing with a quick turnaround of three business days or less. There isn’t a single type of fast business loan. Many types of loans can qualify as a fast business loan, including term loans, equipment financing, lines of credit, merchant cash advances and invoice financing. The fastest business lenders offer same-day loans that can be funded within the day that you apply if you qualify.
Types of fast business loans and turnaround time
Fast doesn’t mean instant – fast business loans still take time to process. While some may be funded same-day after approval, others might take a few business days or longer.
Loan type
Description
Average turnaround time
Business term loan
A lump sum loan with repayment terms between three and 10 years
1 to 5 days
Short-term business loan
A lump sum loan with repayment terms between three and 24 months
1 to 5 days
Line of credit
A business loan that works similarly to a credit card
1 to 2 days
Equipment financing
A loan used to buy or lease business equipment
1 to 21 days
Business credit card
A revolving line of credit
Instant funding if approved
Merchant advance
An advance on future credit card sales
As soon as 24 hours
Invoice financing
A short-term loan against unpaid invoices
As soon as 24 hours
Startup loan/financing
Financing options for startup businesses
One to four weeks
SBA Express loan
A term loan up to $5,000,000 with repayment terms up to 25 years
30 to 90 days
How much can I borrow with a fast business loan?
Fast business loans can range anywhere between $2,000 and $500,000 — although many lenders don’t offer business loans over $250,000.
The amount your business is eligible for depends on several factors, including:
Current cash flow
Time in business
Monthly and annual revenue
Personal and business credit scores
Quick loans are often backed by assets, such as with merchant cash advances and invoice factoring. But depending on the lender, you may also be able to get fast turnaround on short- and long-term business loans, equipment financing and lines of credit too.
How to get a fast business loan
Here are the general steps to get a fast business loan:
Determine the type loan of you need
Fast business loans come in a range of different flavors for different needs. You can choose from:
Merchant cash advance. A quick turnaround cash advance on future sales. Fees can run high with this option, but it can be a lifeline for new business and startups.
Short term loan. Used to cover unexpected expenses, even out cash flow or finance a short-term project. Short-term loans are usually repaid over three to 24 months.
Business term loan. A lump sum loan that provides working capital for a range of needs. These are longer-term loans that are typically repaid over two to 10 years.
Business line of credit. This is a revolving line of credit that can be used to pay for emergencies and ongoing cash needs.
Equipment loan. Used for buying new machinery, furniture or fixtures and can help keep your cash and existing credit free for other needs.
SBA loan. These loans offer government-backed financing at low rates, but take longer to process than other types of loans.
ACH business loan. These types of loans, also called ACH cash flow loans, offer a lump sum of cash in exchange for allowing the lender to deduct payment directly from your business bank account. They’re typically easy to qualify for and offer quick cash.
2. Prequalify online
Most lenders offer online prequalification so you can check how much might be eligible for and the rate. This allows you to compare options before you fill out a full application and do a hard credit check.
3. Apply for your loan or financing
Once you’ve narrowed down the best lender for your needs, apply online and get your documents together for uploading.
While every lender is different, be prepared to provide the following types of documents:
Bank statements
Business tax ID
Driver’s license number
Accounting software
Profit and loss statements
Bank account information
Contact information of each business owner
The exact information you need to provide will depend on the lender. For fast business loans, plan on submitting everything at once for quicker processing.
Fast loans typically don’t always come cheap. Rates on the fast loans can range anywhere from 3% APR for invoice financing to 60+% APR for a business line of credit. The rates, upfront fees, ongoing fees and collateral will also impact the cost of your business loan.
Since costs depend so much on your personal situation, the best way to determine how much a business loan will cost is to get prequalified online. Most lenders offer free online prequalification, so it’s a good idea to compare several offers to make sure you’re getting the best deal.
You can also use a business loan marketplace like Lendio to compare multiple lenders at once with a single form. While Lendio doesn’t charge for its service, you pay a fee if you get funded by a lender – so check fees first.
A fast business loan can make sense if you need to get quick cash in a business emergency to keep your business running smoothly during a seasonal slump or to pay for emergency expenses. With many online lenders offering streamlined applications, it can be easier and faster to apply for a loan online than going to your local bank.
Fast business loan alternatives
If you own a newer business or don’t meet the revenue or time in business requirements, you may not qualify for a business loan or the lowest rates. Here are some alternatives to business loans that can also help you get cash sooner than later.
Personal loans. Personal loans offer amounts between $1,000 and $100,000 with rates between 6% and 36%. However, the best personal loans require good credit and may have restrictions on business expenses.
Business credit cards. A business credit card may be easier to get approved for than a loan. Many business credit cards come with 0% APR promotional periods, giving you some breathing space for larger purchases.
And if you can wait a little longer for funds, you can also look into crowdfunding or apply for a business grant, which are available from Small Business Development Centers (SBDCs) and at USA.gov.
Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio
Kat's expertise
Kat has written 198 Finder guides across topics including:
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