Advertiser Disclosure

🎁 Black Friday deals are here! See all the best holiday offers now.

6 Fast Business Loan Solutions For Small Businesses That Need Quick Cash

  • 2 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
fast business loans

Good things take timePatience is a virtue. We all know the sayings. But let’s face it: when it comes to making critical business investments, time is of the essence. A quick loan or line of credit is often the best course to take your business to the next level (or to simply keep your company afloat).

In this post, we’ll look at the top lenders to consider for fast business funding. In addition to rounding up the best fast business loans, we’ll also offer tips for getting your loan approved and receiving funds in your bank account ASAP. Time’s ticking, so let’s get started.

Learn More About Our Top Picks

CompanyBest ForNext Steps
Lendio
Best overall for fast business funding

Visit Site

Read More

LoanBuilder
Best for immediate approval

Visit Site

Read More

BlueVine
Best for high borrowing limits

Visit Site

Read More

Fundbox
Best for fast line of credit

Visit Site

Read More

Credibly
Best for fast financing if you have bad credit

Visit Site

Read More

Other Featured Options:

  • OnDeck: Best for fast funding backed by excellent customer service

Read more below to learn why we chose these options.

6 Fast Loans For Small Businesses

When you need fast funding, don’t fall for a payday loan or the promises of predatory lenders. If you’re ready to get funded fast, start with these reputable lenders. These lenders offer fast funding, easy applications, and work with a variety of businesses to provide a financial boost when needed.

1. Lendio: Best Overall For Fast Business Funding

Lendio



Visit Site

Read our Review

Lendio tops this list because it doesn’t just offer one financial product.

Instead, this loan aggregator has partnered with 75+ lenders to connect small businesses with the fast and easy financing they need, regardless of loan purpose, credit history, or time in business. Through Lendio, you can apply for a variety of financial products including installment loans, short-term loans, equipment financing, lines of credit, and business credit cards.

The application process is easy and can be completed in 15 minutes or less. Once you’ve submitted an application, you’ll be presented with offers from Lendio’s funding partners. Compare your options and choose the one that’s best for your business. Once approved by a lender, you could have funds in as little as 24 hours. One thing to note is that rates, terms, and borrower requirements vary by lender and product. Time to funding also varies, so make sure to carefully review all information before committing.

Pros

  • Multiple types of financing available
  • Long-term financing options available
  • Applicants can quickly be pre-qualified
  • Funds are disbursed quickly

Cons

  • Rates can be expensive

Get Started with Lendio

Read our in-depth review

Jump back to comparison chart

2. LoanBuilder: Best For Immediate Approval

LoanBuilder



Visit Site

Read our Review

With LoanBuilder, you can receive up to $500,000 for your business, whether it’s to keep your doors open or to fund an expansion.

LoanBuilder provides fast short-term loans with repayment terms up to 52 weeks. Borrowing requirements are far less stringent than banks — all you need is a US-based business that has been in operations for at least 9 months, at least $42,000/year in business revenue, and a personal credit score of 620. Some industries may be ineligible for funding.

True to its name, LoanBuilder allows you to “build” your own loan by adjusting your borrowing amount and repayment terms that best fit your needs. A one-time fee is added to the cost of your loan. There are no additional or hidden fees.

LoanBuilder is a great option for fast business funding because the application process is very quick and easy. You can receive instant loan estimates just by filling out a short questionnaire. If you find a loan that works for you, you can continue on with the loan process. Once you’re approved, you can have funds in your bank account as soon as the next business day.

Pros

  • No extra fees
  • Applicants can quickly be pre-qualified
  • Application process is fast & easy
  • Funds are disbursed quickly

Cons

  • Not available to businesses in some industries
  • No long-term financing options available

Read our in-depth review

Jump back to comparison chart

3. BlueVine: Best For High Borrowing Limits

BlueVine



Visit Site

Read our Review

If unpaid invoices are impacting your cash flow, BlueVine may have a solution for you.

With BlueVine’s invoice factoring, you can get an advance of up to 90% of the value of your invoices. Once an invoice is paid, you’ll receive the remaining balance minus BlueVine’s fee. One of the best things about BlueVine’s invoice factoring is that you can receive as much as $5 million. Qualifying is fast and easy, too. The lender only requires a FICO score of 530, a time in business of 3 months, and at least $10,000 in monthly revenue. Approvals may come as fast as 24 hours after submitting your application and any required documentation.

If you don’t have unpaid invoices, don’t worry — BlueVine also offers business lines of credit up to $250,000 for qualified borrowers. One thing to note is that it is more difficult to qualify for a BlueVine line of credit. Requirements include a minimum credit score of 650, at least 2 years in business, and $40,000 in monthly revenue.

Pros

  • High borrowing amounts
  • Application process is fast & easy
  • Funds are disbursed quickly

Cons

  • Rates can be expensive
  • Repayments are required frequently

Get Started with BlueVine

Read our in-depth review

Jump back to comparison chart

4. Fundbox: Best For Fast Line Of Credit

Fundbox



Visit Site

Read our Review

If you’d prefer a more flexible funding option, consider applying for a business line of credit.

And if speed is important to you, give Fundbox a try. Fundbox offers lines of credit up to $100,000 for qualified borrowers. Fundbox assigns you a credit limit based on the information you provide about your business. Then, you can make draws on that line of credit up to your set limit. Repayment terms up to 24 weeks are available.

As you repay your balance, funds are replenished, giving you access to funds when you need them. You may qualify for funding if you meet the minimum requirements of owning a US-based business that’s been in operations for at least six months and bring in at least $100,000/year in revenue.

Fundbox makes receiving a line of credit fast and easy. Simply link your business bank account or supported accounting or invoicing software, provide some information about yourself and your business, and you can be approved instantly. Once approved, you may proceed to make draws on your line of credit and receive funds as soon as the next business day.

Pros

  • Low credit score requirements
  • The application process is fast & easy
  • Funds are disbursed quickly

Cons

  • Rates can be expensive
  • Repayments are required frequently

Get Started with Fundbox

Read our in-depth review

Jump back to comparison chart

5. Credibly: Best For Fast Financing If You Have Bad Credit

Credibly



Visit Site

Read our Review

If you think that a poor credit score will prevent you from receiving a business loan, think again. In addition to some of the other lenders already mentioned, Credibly is a lender that is willing to work with borrowers with less-than-perfect credit to get you immediate business funding.

Through Credibly, you may qualify for a short-term loan or merchant cash advance to fund your business. Borrowing limits are also quite high, with loans up to $400,000 available to qualified borrowers. Repayment terms vary based on the product you select, but some products come with terms of two years or longer.

The best part about Credibly is that it’s fast and easy to qualify. Borrowing requirements also vary by product, but Credibly’s working capital loans only require a credit score of 500, a minimum of 6 months in business, and $15,000 or more in monthly deposits. Applying is fairly easy, and most loans are funded within two to five days of starting the process. It is important to note, however, that rates can get quite expensive and repayment terms may not quite be so favorable for those with lower credit scores. However, it may be worth the expense if you need a business loan quickly.

Pros

  • Low credit score requirements
  • Application process is fast & easy
  • Funds are disbursed quickly

Cons

  • Rates can be expensive
  • Some additional fees are charged

Get Started with Credibly

Read our in-depth review

Jump back to comparison chart

6. OnDeck: Best For Fast Funding Backed By Excellent Customer Service

OnDeck



Visit Site

Read our Review

Unfortunately, not all lenders offer the best customer service experience, but this isn’t a problem you’ll have when working with OnDeck. OnDeck has two financial products available for businesses. The first is term loans up to $250,000. Or you can apply for a flexible line of credit up to $100,000.

Borrower requirements for either product are simple: 12 months in business, a minimum credit score of 600, and at least $100,000 in annual revenue.

What sets OnDeck apart is its customer service. You’ll be paired with a customer service representative that will work with you through the duration of your loan. This rep will answer questions, walk you through the loan process, and offer help when needed. This level of customer service has helped OnDeck earn multiple positive reviews across the web.

Pair that with an easy application process and funding that could potentially go through as quickly as the same business day, and it’s easy to see why OnDeck is a top choice for fast funding.

Pros

  • Multiple types of financing available
  • Application process is fast & easy
  • Funds are disbursed quickly
  • Customers have an assigned account manager

Cons

  • Not available to businesses in some industries
  • Rates can be expensive

Get Started with OnDeck

Read our in-depth review

Jump back to comparison chart

Tips For Fast Business Loan Approval

How fast your loan is approved and received depends in large part on you. Keep reading to learn more about how you can expedite the loan process … and be one step closer to getting the cash you need.

1. Check Your Credit Score

Knowing your credit score can help you determine which loans you’re eligible for, so you’re not wasting precious time applying for loans that aren’t a good fit.

To score the lowest rates and best terms, your credit score will need to be as high as possible. If you’re in a time crunch, taking steps now to raise your credit may not be in the cards. However, you should at least give your credit report a once-over to look for major issues or mistakes. In the future, consider doing a more thorough analysis of your credit report, dispute any errors, and pay off any debt if possible to boost your score.

To check your credit score before you start applying for fast loans, you can use one or more of these Best Free Credit Score Sites. If your score is low, don’t worry. There are still plenty quick financing options even if your credit score isn’t high enough to qualify for every loan.

2. Have Your Documents Ready

Having all your business documents ready and in one place will make for a speedier application process. Here are some examples of documentation the lender might ask for:

  • Tax returns (personal and business)
  • Seller’s permit
  • EIN certificate
  • Business license
  • Balance sheets
  • Bank statements
  • Proof of ID
  • Proof of address
  • Incorporation paperwork
  • Copy of business lease

Different lenders may require different and more/fewer documents. It’s a good idea to find out what paperwork the lender requires before you get pre-approved.

3. Prepare A Proposal

Many lenders require your loan application to include a detailed proposal and/or a business plan. This is often true even of “quick” loans. A proposal generally includes information such as how much money you need, what you will use the money for, and how you will repay the loan. As with all your important business documents, the loan application process will be speedier and smoother if you have this information prepared and ready to go before you apply.

To ease the process, you can read this article from the SBA called How To Prepare A Loan Proposal. This resource includes the information you should include in a loan proposal – although you should note that the SBA requires more information than most “fast loan” options.

4. Be Thorough On Your Application

The more relevant information you reveal about yourself and your business on your loan application, the better. The whole process will be faster and less painful if you provide everything upfront. That way, there will be less back and forth between you and the lender as they work with you to get the information you didn’t supply initially. You are also more likely to get approved for a loan if you have a more thorough application.

5. Consider All Your Options (Even Unconventional Ones)

Assuming you have all your ducks (and docs) in a row, it’s time to look at your best options in terms of financing. In some cases, you might not even want to get a “loan” in the traditional sense; a line of credit or cash advance might be a faster or better option for you, depending on your situation. If speed is of the essence, you should consider the following loan products, through which you can potentially get funds as soon as a day or two after applying:

You also might want to consider the following unconventional financing options:

All fast financing options have their own pros and cons, of course. Merchant cash advances, for example, tend to be some of the most expensive forms of capital, though they are usually the fastest. Of the unconventional options, peer-to-peer (P2P) loans and personal loans tend to be the fastest, but you’ll generally need to have good personal credit in order to qualify for these options.

6. Apply For Online-Only Loans

Bank loans are not only more difficult to qualify for, but fund disbursement takes a lot longer. When time isn’t on your side, choosing an online lender is the way to go. Banks tend to have lower interest rates, but it’s still possible to find a low-interest small business loan online, especially if you have good credit.

7. Don’t Forget About Your Business Credit Card

Taking out a business loan isn’t your only option if you need fast cash. You can also charge major expenses on your business credit card and pay them off later as you are able.

If you need a large sum of liquid cash, you might also consider a credit card cash advance. Check with your card issuer to see if you are eligible. The downside to credit card cash advances is that the APR and cash advance fees are usually quite high. Since you’re borrowing against your own credit limit, this can also temporarily lower your credit score by affecting your credit utilization ratio. Nevertheless, credit card advances are a fast and easy business loan alternative available to virtually anyone who has a credit card.

8. Don’t Be Too Hasty

Finally, when getting a fast business loan, it’s important to take your time and read the fine print. In many cases, the super-quick “next-day” loans you find online will have less than ideal terms. You’ll likely have to pay your loan back rapidly at a high rate of interest.

Ideally, of course, you will find a great lender that gives you a fair rate and terms. Check out our Small Business Loan Calculators to calculate your total repayment, financing cost, daily/weekly/monthly payments, APR, and cents on the dollar.

Get Business Funding That Matches Your Timeline

Fast business loans can be a lifesaver, whether you’re ready to grow your business or you need financial assistance to make it through the end of the month. If you don’t have time for a bank loan, consider working with an alternative online lender. Alternative lenders can put money in your account within a couple of days. But this speed comes at a price — specifically, higher interest rates and shorter repayment terms.

To avoid getting ripped off by a predatory lender or agreeing to a bad loan because you are desperate, be sure to compare multiple loan offers. It’s important to do your due diligence to ensure you get the best loan possible, i.e., the one with the lowest fee and repayments you can reasonably afford. Remember that you can pre-apply for multiple loans online without affecting your credit score.

Bear in mind that there are indeed some legitimate, quality lenders (like the ones on this list) that provide quick capital. What’s more, you can take certain actions to speed up your loan application process and time to funding. So what are you waiting for? It’s time to take the next step to fast funding! Good luck!

In Summary: 6 Fast Loans For Small Businesses

  1. Lendio: Best overall for fast business funding
  2. LoanBuilder: Best for immediate approval
  3. BlueVine: Best for high borrowing limits
  4. Fundbox: Best for fast line of credit
  5. Credibly: Best for fast financing if you have bad credit
  6. OnDeck: Best for fast funding backed by excellent customer service
Erica Seppala

Erica Seppala

Erica is a writer based in Greenville, South Carolina. She is a graduate of Limestone College. Initially determined to be an accountant, she put away the calculator and picked up a laptop to pursue her dream of being a writer. Erica has spent the past 10 years writing blogs and articles for hundreds of private clients, and she loves sharing her love of research and the written word with everyone around her.
Leave a comment

2 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    James Alvarez

    … and another great post. All the institutions named are extremely stable companies that have helped so many small businesses. Also, that SBA loan hybrid is an option I hadn’t considered.

      This comment refers to an earlier version of this post and may be outdated.

      Nova Business

      These are all great and helpful tips. This will definitely help me to get an approval for my business loan. Thanks for sharing this very useful article. I enjoy reading and will definitely return to this site.

        This comment refers to an earlier version of this post and may be outdated.

      Leave a Reply

      Your email address will not be published. Required fields are marked *

      Your Review

      Comment moderation is enabled. Your comment may take some time to appear.
      Please read the "User Review and Comment Policy" before posting.

      Share

      Featured Offer: We Recommend QuickBooks 🎉

      Get 70% QuickBooks Online for a limited time!

      Take it for a spin with a free trial.

      Try QuickBooks Today

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.
      PROMO: Get your first month for just $5 and get your first $5,000 in processing for free. Valid until end of November.

      Get Started

      Get started with no commitment today.

      We Recommend Brex Corporate Card for Startups 🏆

      Brex Corporate Card for Startups is one of our top picks for business credit cards!

       

       

      For a limited time get 50,000 rewards points when you spend $1000 with Brex.

      Get Started

      Get started with no commitment today.

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.
      PROMO: Get your first month for just $5 and get your first $5,000 in processing for free. Valid until end of November.

      Get Started

      Get started with no commitment today.

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.
      PROMO: Get your first month for just $5 and get your first $5,000 in processing for free. Valid until end of November.

      Get Started

      Get started with no commitment today.

      ⭐️ Featured Promo! ⭐️

      Sign up now and qualify for a limited time deal!

      Standard Plan: One month free ($29.95 value)
      Plus Plan: Two months free ($159.90 value)
      Pro Plan: Three months free ($899.85 value)

      Learn More

      At BigCommerce

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.
      PROMO: Get your first month for just $5 and get your first $5,000 in processing for free. Valid until end of November.

      Get Started

      Get started with no commitment today.

      We Recommend Helcim 🏆

      Helcim is one of our top picks for payment processing!

       

       

      Helcim has exceptional service and an advanced platform that we highly recommend for businesses in Canada and the US. Get three months free when you sign up with Helcim through our links!

      Get Started

      Get started with no commitment today.

      We Recommend PaymentCloud 🏆

      PaymentCloud is one of our top picks for credit card processing!

       

       

      We love PaymentCloud's predictable pricing and excellent service.

      Get Started

      Get started with no commitment today.

      We Recommend OnDeck 🏆

      OnDeck is one of our top picks for Business Loans!

       

       

      OnDeck is our featured vendor for business loans and lines of credit. If you have at least one year in business, a personal credit score of 600 or higher, and $100K in annual revenue, OnDeck is ready to help your business get funded.

      Get Started

      Get started with no commitment today.

      We Recommend ADP Payroll 🏆

      ADP Payroll is one of our top picks for Payroll Software!

       

       

      Our reviewers like ADP Payroll for its advanced employee management, strong payroll features, and great customer support.👍

      For a limited time, get three months free when you sign up via our links!

      Get Started

      Get started with no commitment today.

      We Recommend Lightspeed POS 🏆

      Lightspeed POS is one of our top picks for Point of Sale!

       

       

      We highly recommend Lightspeed POS for small businesses looking for a feature-rich, tablet-based point of sale system. PROMO: Save up to $1,000 when you sign up by November 30th.

      Get Started

      Get started with no commitment today.

      We Recommend Fundera 🏆

      Fundera is one of our top picks for SBA loans!

       

       

      Fundera is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find SBA 7(a)loans alongside other financing options.

      Get Started

      Get started with no commitment today.

      We Recommend ShippingEasy 🏆

      ShippingEasy is one of our top picks for shipping software!

       

       

      ShippingEasy got a 5-star review from our team. Get a 30-day free trial to access discounted USPS and UPS shipping rates and print labels in no time. No credit card required.

      Get Started

      Get started with no commitment today.

      We Recommend Square POS 🏆

      Square POS is one of our top picks for Point of Sale!

       

       

      Square is free to use and currently includes a free card reader at sign-up!

      No credit card is required to create your account.

      Get Started

      Get started with no commitment today.


       

      Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

      Sign up for the Maverick Newsletter

      • We occasionally send out emails with special offers.