Fundera business loans
Get connected with short-term funding, SBA loans, lines of credit and more.
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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.
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9.6 Excellent
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 580 for some loan types. But be prepared to receive a large number of marketing calls and emails.
| Loan amount | $1,000 – $5,000,000 |
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| APR | Varies by lender |
| Min. Credit Score | 580 |
| Loan amount | $1,000 – $5,000,000 |
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| APR | Varies by lender |
| Min. Credit Score | 580 |
9.4 Excellent
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 |
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| APR | 52.6% average APR |
| Min. Credit Score | 625 |
| Loan amount | $6,000 – $100,000 |
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| APR | 52.6% average APR |
| Min. Credit Score | 625 |
9 Excellent
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 |
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| APR | Not applicable |
| Min. Credit Score | 500 |
| Loan amount | $500 – $10,000,000 |
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| APR | Not applicable |
| Min. Credit Score | 500 |
9 Excellent
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 | $50,000 – $350,000 |
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| APR | Prime Rate, plus 3% to 5.75% |
| Min. Credit Score | 660 |
| Loan amount | $50,000 – $350,000 |
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| APR | Prime Rate, plus 3% to 5.75% |
| Min. Credit Score | 660 |
7.6 Great
Credibly offers merchant cash advances up to $10,000,000 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 – $10,000,000 |
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| APR | Factor rates start at 1.11 |
| Min. Credit Score | 500 |
| Loan amount | $5,000 – $10,000,000 |
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| APR | Factor rates start at 1.11 |
| Min. Credit Score | 500 |
9.6 Excellent
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 |
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| APR | Undisclosed |
| Min. Credit Score | 600 |
| Loan amount | $5,000 – $500,000 |
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| APR | Undisclosed |
| Min. Credit Score | 600 |
8.2 Great
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 550 – although 700+ is better – and a minimum monthly account balance of $1,000 to $5,000, along with other criteria.
| Loan amount | $5,000 – $5,000,000 |
|---|---|
| APR | Varies by loan type |
| Min. Credit Score | 550 |
| Loan amount | $5,000 – $5,000,000 |
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| APR | Varies by loan type |
| Min. Credit Score | 550 |
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:
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.
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 |
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:
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.
Here are the general steps to get a fast business loan:
Fast business loans come in a range of different flavors for different needs. You can choose from:
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.
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:
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.
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.
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.
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Buy real estate, another business or expand your enterprise.
You’ll have an easier time qualifying if you have strong credit and high revenue.
Find financing to grow your business — or even buy another.
Stay away from big banks for a loan of this size.