If your business is facing a financial emergency, you may not be able to wait even the 24 to 48 hours it can take to get your funding from a fast business lender. Thankfully, there are lenders who can fund your loan the same day you apply — if you qualify.
To be a same-day lender for our list, the lender must be able to fund the loan within the same business day as you are approved. Most require you to apply before a certain time of day to be eligible for a same-day payout. For example, you’ll need to have your application in before 10:00 a.m. if you want your funding by the end of business day.
But no matter how urgent your need, be aware that you may face higher interest rates, fees and more frequent repayment terms in return for such a quick payment.
OnDeck offers fast-turnaround short-term loans that can be funded as soon as same-day, depending on the state where your business is located. And while they offer maximums of up to $250,000, to qualify for same-day funding, your loan must be for $100,000 or less, and you have to turn in your full application before 10:30 a.m. ET.
Be aware, this lender's rates can run high. OnDeck states that its average term loan rate is 52% APR. But there are no prepayment penalties on its term loans, so you can save on interest by paying early.
Loan amount
$5,000 – $250,000
APR
Average is 55.9% to 56.1%.
Min. Credit Score
625
OnDeck offers fast-turnaround short-term loans that can be funded as soon as same-day, depending on the state where your business is located. And while they offer maximums of up to $250,000, to qualify for same-day funding, your loan must be for $100,000 or less, and you have to turn in your full application before 10:30 a.m. ET.
Be aware, this lender's rates can run high. OnDeck states that its average term loan rate is 52% APR. But there are no prepayment penalties on its term loans, 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
$5,000 – $250,000
APR
Average is 55.9% to 56.1%.
Min. Credit Score
625
Loan term
3 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
With no origination fee, no annual fee and no prepayment closure fee, Bluevine is a good choice for small businesses that need frequent access to funds. After you're approved, you can pay a $15 wire transfer fee to get your funds in just a few hours. Otherwise, withdrawals take one to three business days to process. Its lines of credit are revolving, so you can borrow and repay as needed. But line of credit repayments are weekly, which may strain your budget during slow periods.
Loan amount
$5,000 – $250,000
APR
Starting at 7.8%
Min. Credit Score
625
With no origination fee, no annual fee and no prepayment closure fee, Bluevine is a good choice for small businesses that need frequent access to funds. After you're approved, you can pay a $15 wire transfer fee to get your funds in just a few hours. Otherwise, withdrawals take one to three business days to process. Its lines of credit are revolving, so you can borrow and repay as needed. But line of credit repayments are weekly, which may strain your budget during slow periods.
Pros
Starting APR compares to banks
Flexible credit and revenue requirements
Same-day funding for a fee
Cons
Weekly repayments on line of credit
High revenue requirements
Not all industries qualify
Loan amount
$5,000 – $250,000
APR
Starting at 7.8%
Min. Credit Score
625
Loan term
6 or 12 months
Requirements
12+ months in business, $40,000+ in monthly revenue, 625+ credit score
With factor rates starting at 1.11, Credibly is among the least expensive merchant cash advance lenders out there. It's also more transparent about its rates and fees than similar lenders, and you can access your funds as soon as the day you're approved. While its $15,000 monthly minimum revenue requirement is higher than other competitors, it's not restricted to credit card sales. But like other merchant cash advances, it's still an expensive product.
Loan amount
$5,000 to $600,000
Starting Factor Rate
1.11
Min. Credit Score
500
With factor rates starting at 1.11, Credibly is among the least expensive merchant cash advance lenders out there. It's also more transparent about its rates and fees than similar lenders, and you can access your funds as soon as the day you're approved. While its $15,000 monthly minimum revenue requirement is higher than other competitors, it's not restricted to credit card sales. But like other merchant cash advances, it's still an expensive product.
Pros
Same-day funding available
Requires only 6 months in business
500 credit score requirement
Cons
Doesn't disclose remittance percentage
Admin fee of $50 per month
No advances of $600,000+
Loan amount
$5,000 to $600,000
Starting Factor Rate
1.11
Min. Credit Score
500
Loan Term
3 to 24 months
Requirements
500+ credit score, 6+ months in business, $15,000+ average monthly bank deposits
SunWise's low revenue and credit score requirements make the lender a good choice for businesses that may not qualify for a more traditional loan. It also promises a quick application process and a streamlined process that can get you money within the same day, or at latest, within 24 hours.
The lender works with some industries that others may not, such as construction and trucking. You apply online and can get funded up to $500,000 that same day. Larger loan amounts are available, but they may take longer to fund.
Loan amount
$10,000 – $2,000,000
APR
Starting from 4.8%
Min. Credit Score
550
SunWise's low revenue and credit score requirements make the lender a good choice for businesses that may not qualify for a more traditional loan. It also promises a quick application process and a streamlined process that can get you money within the same day, or at latest, within 24 hours.
The lender works with some industries that others may not, such as construction and trucking. You apply online and can get funded up to $500,000 that same day. Larger loan amounts are available, but they may take longer to fund.
Pros
Same-day funding available
Requires only $15,000 in monthly revenue
Soft credit pull
Cons
Higher interest rates for low-credit borrowers
Longer terms may have higher rates
Loan amount
$10,000 – $2,000,000
APR
Starting from 4.8%
Min. Credit Score
550
Loan term
6 to 60 months
Requirements
1+ year in business, $180K+ annual revenue, 550+ personal credit score
Loan amount
$10,000 – $2,000,000
APR
Starting from 4.8%
Min. Credit Score
550
Best for multiple funding options: Balboa Capital
Balboa Capital small business loans
Where most lenders have only one quick-funding option, Balboa Capital offers same-day funding for all of its non-SBA loan options. If you meet the lender's qualification requirements, you can get approved in as little as an hour during normal business days and receive funding that same day.
But this isn't a good choice for poor credit borrowers. Balboa requires at least a 620 FICO score and a business that generates $300,000 or more annually. Their same-day loans cap out at $250,000, but more funding is available if you can supply additional documentation.
Loan amount
$20,000 – $250,000
APR
6% to 20%
Min. Credit Score
620
Where most lenders have only one quick-funding option, Balboa Capital offers same-day funding for all of its non-SBA loan options. If you meet the lender's qualification requirements, you can get approved in as little as an hour during normal business days and receive funding that same day.
But this isn't a good choice for poor credit borrowers. Balboa requires at least a 620 FICO score and a business that generates $300,000 or more annually. Their same-day loans cap out at $250,000, but more funding is available if you can supply additional documentation.
Pros
Same-day funding available
One-hour application approval
Can get more funding with additional documentation
Cons
Low max loan amount
Not for poor credit borrowers
Loan amount
$20,000 – $250,000
APR
6% to 20%
Min. Credit Score
620
Loan term
3 to 24 months
Requirements
1+ years in business, $300,000+ annual revenue, 620 credit score
Loan amount
$20,000 – $250,000
APR
6% to 20%
Min. Credit Score
620
Methodology
Our lending experts researched dozens of business loan providers to narrow down the best lenders with same-day funding options. We found lenders suited to a wide range of needs, including those that offer fast approval, work with businesses of all credit types and offer a variety of financing products.
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
Best same-day business loans: By the numbers
Compare these lenders with same-day funding side-by-side.
Lender
APR
Loan amount
Turnaround time
Loan term
OnDeck★★★★★
29.9% to 65.9%
$5,000 to $250,000
Same-day funding under $100,000
Up to 12 months
Bluevine★★★★★
7.8% to 86%
$5,000 to $250,000
Same-day funding
6 to 12 months
Credibly★★★★★
1.11 factor rate
$5,000 to $600,000
Same-day funding
3 to 24 months
SunWise Capital★★★★★
4.8%+
$10,000 to $2,000,000
Same-day funding
6 to 60 months
Balboa Capital
Not yet rated
6% to 20%
$20,000 to $250,000
Same-day funding
3 to 24 months
How to compare best same-day business loans
Especially when you’re in crisis mode, it’s important to compare same-day lenders before wasting your time on a lender that isn’t right for you. Consider the following criteria:
Availability. Not all same-day lenders are available in your state, and some states have laws surrounding bank transfers that may make instant transfers difficult.
Fees. Most business loans come with fees of some kind, but not all fees are standard. And some lenders are willing to waive fees or don’t charge fees for their loans or lines of credit.
Maximum loan amount. Often, there are limits to how much can be funded same-day. If you need more, you may want to wait for a loan that takes longer to fund.
Repayments. Depending on the loan you choose, you may be responsible for weekly, biweekly or monthly payments. Be sure the payment plan for the loan works with your business budget.
APR. Obviously, the interest rate you can get matters. But keep in mind that just because a lender advertises a lower interest rate than its competitors doesn’t mean you’ll get that interest rate on your loan with them. Shopping around, even for same-day funding, can help you save money on interest.
What are same-day business loans and how do they work?
Same-day business loans fund within the same business day the loan is approved. That’s the distinction from fast business loans, which tend to have a turnaround of 24 to 48 hours. Lots of loan types can fund quickly, including term loans, lines of credit, merchant cash advances and more. But loans that fund within a day tend to have a lower maximum loan amount and possibly a higher interest rate.
Not all business loans can be funded same-day, but here is an example of typical same-day business loans.
Type
Typical loan amounts
Typical term lengths
Typical rates
Best for…
Term loans
$5,000 to $500,000
2 to 10 years
6%+
Funding a one-time purchase or expense
Merchant cash advance
$2,500 to $1 million
3 to 36 months
1.1 to 3 factor rate
Accessing future revenue from credit card sales
Lines of credit
$5,000 to $250,000
6 to 12 months
8%+
Working capital and other ongoing expenses
Equipment financing
Up to 100% of the equipment value
2 to 5 years
8% to 30%
Purchasing equipment to run your business
When a same-day business loan makes sense
Same-day funding can help you get funding in a business emergency where timing is important, whether that be to avoid a late fee or get a contract opportunity you may miss without the funding.
But read your loan terms carefully to be sure you’re aware of any increased interest or fees you might face due to the quick turnaround, as well as when your repayment is due.
Eligibility requirements for same-day business loans
These same-day loan options aren’t available in every state due to state-based bank transfer laws. The loans may also be subject to loan limits for the same reasons. Additionally, you may need to meet slightly higher requirements to qualify for a same-day loan. Typical qualifications include:
One year in business
620+ FICO score
Live in a state that allows same-day funding
$15,000 per month in revenue
If you need more funding or can’t meet the requirements, you may have to wait one to three days for funding or longer, depending on the loan you get.
Can I get same-day funding with bad credit?
Only a few lenders offer same-day funding at all. So, if you have bad credit, your choice of lender may be severely limited. But we did include two lenders on our list that may consider applicants with a FICO score as low as 550. And SunWise Capital is known for working with poor-credit borrowers.
Heather Petty was a personal finance writer at Finder, specializing in home and personal loans. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing and analysis has been featured on MSN, Credit.com and MediaFeed, among other top media. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She earned a BA in English with a minor in journalism from the University of Nevada, Reno. See full bio
Heather's expertise
Heather has written 85 Finder guides across topics including:
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