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7 best no-doc lenders for business loans

These business loans and lines of credit are faster and easier than your typical bank loan — but more expensive.

In need of a hassle-free, easy business loan? A no-document (no-doc) lender may be worth looking into.

No-doc business loans can be a good choice for small businesses owners that need short-term working capital fast. By connecting to your accounting software and bank accounts, no-doc lenders can often fund a business loan by the next business day.

But for larger loans over $100,000, even no-doc lenders might ask for some kind of paperwork. No-doc lenders also tend to charge higher rates and fees than a traditional bank loan. If costs are your main concern, consider a bank first.

Best no-doc business loan providers

Best business loan marketplace

Lendio business loans

Finder rating 4.75 / 5 ★★★★★

Lendio is one of the largest business loan marketplaces, partnering with more than 75 lenders. You can prequalify for a range of options with just a few clicks and compare the terms you might qualify for with different no paperwork providers. But be sure to reach out to the lender to make sure it doesn't require any paperwork before you continue with your application.

Best for short-term business loans

OnDeck short-term loans

Finder rating 4.6 / 5 ★★★★★

OnDeck is an online lender that specializes in short-term loans and lines of credit for small businesses. It only requires most borrowers to submit three months of business bank statements, which you can download from your online bank account. It's also one of the few online lenders that can fund your loan the same day you're approved. But it's expensive. OnDeck tripled its starting APRs in response to COVID-19 — save this lender for when you're willing to pay extra for convenience.

Best for business lines of credit

Fundbox lines of credit

Finder rating 4.2 / 5 ★★★★★

Fundbox is one of the few true no-doc lenders out there for business lines of credit. Instead of asking for financial statements and tax returns, it connects to your accounting software and bank account. This makes it possible to get approved within minutes — and funded as soon as one business day after you request a withdrawal. But in this case, the no document requirement has its drawbacks. Fundbox doesn't work with every type of accounting software or connect with every bank account. And its starting fees are high — roughly equivalent to a 35% APR.

Best for equipment loans

National Funding business loans

Finder rating 4.65 / 5 ★★★★★

National Funding is an online lender that only requires you to have a quote from a vendor when you apply for an equipment loan. It only offers equipment financing up to $150,000. And it may not be as fast as some other no-doc lenders out there — it can take 24 hours to get a decision and you'll have to speak with a specialist during that process. But it's relatively simple compared to other equipment financing options.

Best for invoice factoring

BlueVine invoice factoring advances

Finder rating 4.45 / 5 ★★★★★

BlueVine is one of the only online lenders that offers no-paperwork invoice factoring — but only on factoring under $250,000. You can opt to connect to your business bank account and accounting software instead of submitting bank statements. When you want to sell an invoice, all you have to do is log in to your BlueVine account and select the invoice from your dashboard. Its advance rates of 85% to 90% are a little low compared to other factors. And the fee of 0.25% per week is on the higher side of average.

Best for inventory financing

Kickpay e-commerce business loans

Finder rating 3.9 / 5 ★★★★★

Kickpay offers advances to fund 16 weeks of inventory for most types of e-commerce businesses. It connects with your bank account, e-commerce store and fulfillment center instead of requiring documentation. It sends the funds directly to your manufacturer and deducts a percentage of each order as repayment. It charges a fixed fee of 3% to 7% of the advance — which is low compared to other similar options. But you could pay extra fees if you see an unexpected drop in sales. And it can take between eight and 12 days to get funding after you apply.

Best merchant cash advance

Fora Financial business loans

Finder rating 4.1 / 5 ★★★★★

It's hard to find a merchant cash advance provider that requires fewer documents than Fora Financial. You only need to submit three months of credit card statements when you apply. It charges relatively low factor rates of 1.1 to 1.9 — with an early payoff discount as high as 30%. This might be the best merchant cash advance provider out there. But some customers give it poor reviews and it can take a few days to fund your loan. And Fora may also ask to see tax returns, balance sheets and profit and loss statements when you apply for a merchant cash advance.

Best best no-doc loans: By the numbers

Compare no-doc and low-doc lenders side by side.

LenderAPRsLoan amountsTurnaroundLoan terms
LendioStarting at 6%$500 to $5,000,000Not stated1 to 25 years
OnDeck29.9% to 99.9%$5,000 to $250,000Quick as 1 day3 to 24 months
FundboxNot stated$1,000 to $150,0001 to 3 days12 or 24 weeks
National FundingNot stated$5,000 to $500,0001 to 3 days4 to 24 months
BlueVine0.2% to 1.3%$5,000 to $5,000,000Few hoursNot applicable
Kickpay3% to 7% of inventory’s manufacturing price$20,000 to $1,000,0002 to 9 days16 weeks
Fora FinancialVaries$5,000 to $750,000Minimum 3 days4 to 15 months

How we picked the best providers

Our team reviewed over 220 business loan providers before selecting the best no-doc lenders. We selected these lenders based on the documentation requirements, turnaround time, requirements, rates, loan term and customer reviews on Better Business Bureau (BBB) and Trustpilot. We also included options for a wide range of financing needs.

Compare more business loan providers

1 - 6 of 6
Name Product Filter Values Min. Amount Max. Amount APR Requirements
Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★
Lendio business loans
$500
$5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
OnDeck short-term loans
Finder Rating: 4.6 / 5: ★★★★★
OnDeck short-term loans
$5,000
$250,000
29.9% to 99.9%
625+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account
A leading online business lender offering flexible financing at competitive fixed rates.
ROK Financial business loans
Finder Rating: 4.7 / 5: ★★★★★
ROK Financial business loans
$10,000
$5,000,000
Starting at 6%
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
Fundera business loans
Finder Rating: 4.9 / 5: ★★★★★
Fundera business loans
$2,500
$5,000,000
7% to 30%
$50,000+ of annual revenue, 620+ personal credit score, in business for 6+ months
Get connected with short-term funding, SBA loans, lines of credit and more.
Biz2Credit business loans
Finder Rating: 4.7 / 5: ★★★★★
Biz2Credit business loans
$25,000
$6,000,000
Starting at 6.50%
6+ months in business; $100,000+ annual revenue; 500+ credit score
Get only the capital you need through secure, prescreened lenders with this highly rated company offering SBA, expansion, working capital and other loans.
Fora Financial business loans
Finder Rating: 4.1 / 5: ★★★★★
Fora Financial business loans
$5,000
$750,000
Varies
12+ months in business, $15,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $750,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.
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Compare up to 4 providers

How do no-document lenders work?

A no-doc business loan doesn’t mean you won’t fill out any forms — it just means you won’t be required to complete paper forms or fax documents to your lender.

In some cases, you can get around document requirements completely by connecting with your business’s other online accounts. This is particularly common with e-commerce seller financing, especially if you’re borrowing from a platform like PayPal or Amazon.

Some lenders are low doc rather than no doc. They require you to submit an online application and PDFs of a few key documents. You might also need to give them access to certain business accounts for verification.

How to find the best no-doc lender

When comparing no-doc lenders to find the best one for your business needs, ask these five important questions:

  1. Is this the right loan for what I’m trying to accomplish? Find the right loan type for your needs. Need new equipment? Look at equipment financing. Need funds to cover a one-time expense? Look into a fixed-term loan.
  2. Can this lender give me all the funding I need? Look for a provider that offers the amount you’re looking for. Taking out too much or too little can put you in a worse financial position.
  3. Are the rates and fees competitive? You can often save more with a lender offering a low APR — a rate that combines interest and fees.
  4. How long will it take to get my money? Applying with a lender that offers quick turnaround times is especially important if you’re trying to cover an urgent expense.
  5. Do I meet the eligibility requirements? You probably don’t want to waste your time applying with lenders you don’t qualify for.

Online no-doc lenders vs. banks

Aside from the sheer convenience of applying with an online no-document lender, they can actually be much faster than your run-of-the-mill bank.

Bank applications can take weeks or months, where no-doc loans may deliver your money in days. With online applications, your lender can process information quickly and with a smaller underwriting staff.

No-paperwork business loans are also faster because lenders typically ask for access to your accounting software and bank accounts online. It cuts down on the time it takes to provide documentation and speeds up the underwriting process by giving your lender raw data — rather than answers that need to be verified.

Overall, working with a no-doc lender can lead to an easier business loan process.

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