Compare 7 online lenders for legit no-paperwork business loans
business loan no paperwork

Get a business loan with no paperwork

Skip the red tape and get your funds quickly with a paperless loan.

When you want to improve your business, you want a quick solution — not hours of filling out and faxing paperwork. But that’s exactly what many lenders require for a business loan.

Here’s how to cut out the pain of paper and pencil with a no-paperwork business loan.

OnDeck Small Business Loans

OnDeck Small Business Loans

Among the largest online business lenders offering term loans and lines of credit at competitive fixed rates.

  • Minimum Amount: $5,000
  • Maximum Amount: $500,000
  • Loan Term: 3 to 36 months
  • Simple online application process with fast decisions
  • Dedicated loan specialists and loyalty benefits
  • Must have been in business for at least one year with annual revenue of $100,000+
  • Must have a personal credit score of 500+

    What is a no-paperwork business loan?

    A no-paperwork business loan doesn’t mean you won’t fill out any forms. It simply means you won’t be required to complete paper forms or fax documents to your lender.

    No-paperwork lenders typically require you to submit an online application and possibly scan a few key documents. You might also need to give them access to certain business accounts for verification.

    Why are online lenders less likely to require paperwork?

    Online no-paperwork lenders don’t require paper forms because their processes usually involve you completing your information through an online application. They also employ shortcuts to analyzing and verifying your business information. In other words, they’re willing to dig into your financial records themselves.

    One way they might do this is by connecting to your company’s bookkeeping software or taking advantage of temporary read-only access to your business accounts. They can also run a hard check on your personal credit score online.

    Online business lenders that don’t require physical paperwork

    LenderWhat you need to apply onlineEligibility criteriaApply
    • Business tax ID
    • Credit card and bank statements from the past three months
    • Social Security and driver’s license numbers
    Must have been in business for at least one year with annual revenue of $100K+. Must have a personal credit score of 500+.
    National Business Capital
    • Social Security number
    • Government-issued ID
    • Proof of business ownership
    Your company must have been in business for at least 6 months and have an annual revenue of at least $180,000.
    • Personal and business tax returns
    • Personal financial statements
    • Company financial statements
    • Details about your collateral for secured loans
    Personal credit score of 650+; US citizen or permanent resident; Business must be 2+ years old; Annual revenue of $50,000+; No outstanding tax liens; No bankruptcies or foreclosures in past 3 years.
    Excel Capital Management
    • Varies by loan type
    Your business must operate in the US, be at least 1 year old and have monthly revenue of $15,000+.
    • Government-issued ID
    • Business and personal tax returns.
    • Business account bank statements
    • IRS Form 4506-T
    2+ years in business; $75,000+ in yearly sales; No bankruptcies or tax liens; At least 20% ownership of your business; Fair or better personal credit
    • Business bank account information
    • Other business-related account as specified
    Must have been in business for at least 1 year. Revenue minimum is $50,000 annually or $4,200 per month over the last 3 months.

    Are online business loans actually faster?

    Yes. Whereas bank applications can take weeks or months, no-paperwork 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.

    Is it safe to give a lender access to a bank account or accounting software?

    It’s generally safe. Many lenders don’t store login credentials in a database and they’re usually not accessible to more employees than absolutely necessary — if at all.

    Sharing this kind of sensitive information with any third party does come with risk, however. This is for the simple reason that it gives hackers one potential point of access to your accounts or software. Remember, even the most secure encryption is not impenetrable. It’s advised to change your financial account passwords every three months to keep your information safe.

    How to find the best no-paperwork lender

    When comparing no-paperwork 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 apply with lenders you don’t qualify for.

    Bottom line

    No-paperwork loans are a good option for businesses that need money fast to cover emergency expenses. They’re also a convenient way to avoid waiting around for a bank loan to go through.

    Make sure to read the fine print — some online lenders can hide fees and repayment conditions that could wind your business up in even more debt. And be sure to compare your options before deciding on one lender.

    Frequently asked questions

    Anna Serio

    Anna Serio is a writer at finder who specializes in loans. She spent the past five years living in Beirut, where she worked as a news editor and hung out with a lot of cats. She loves to eat, travel and save money.

    Was this content helpful to you? No  Yes

    Ask an Expert

    You are about to post a question on

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
    Go to site