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Best no-doc business loan providers

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

A no-doc business loan is typically offered by an online lender that connects to your business accounts instead of requiring you to submit paperwork, like financial statements or tax returns.

There is no loan that is truly paperwork-free — you’ll still need to sign a contract — but the no-doc loan process significantly simplifies the application. They can often process your request in minutes and send you funds within 24 hours.

4 best no-doc business loan providers

There are only a few no-doc business lenders, so we’ve also included lenders with low document requirements in this list — some only needing bank statements. We’ve also included financing options, such as credit lines, in our top picks:

Best overall

Lendio business loans

Go to site Read review
Loan amount$1,000 – $5,000,000
APRVaries by lender
Min. Credit Score500

Best short-term business loan

OnDeck short-term loans

Read review
Loan amount$5,000 – $250,000
APRAverage is 55.9% to 56.1%.
Min. Credit Score625

Best equipment loan

National Business Capital business loans

Read review
Loan amountUp to 100% of equipment value
APRVaries by lender
Min. Credit ScoreNone required

Best lending marketplace

BusinessLoans.com

Go to site Read review
Loan amount$5,000 – $3,000,000
APRVaries by loan type and lender
Min. Credit Score500

Best no-doc loans: By the numbers

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

LenderAPRsLoan amountsTurnaroundLoan terms
Lendio
Starting at 3%
$1,000 to $5,000,000
Not stated
3 months to 25 years
OnDeck
Average is 55.9% to 56.1%.
$5,000 to $250,000
Offers same day funding
3 to 24 months
BusinessLoans.com
Not stated
$5,000 to $3,000,000
Typically 24 hours to 1 week
3 to 120 months

Methodology: How we choose the best no-doc providers

Finder’s lending experts review dozens of business loan providers before selecting the best low-document lenders. We pay special attention to providers with little to no hard-copy documentation requirements and quick turnaround times, and we regularly review our top selections as lenders enter and leave the market.

Each lender is weighted against eight metrics: document requirements, turnaround time, business requirements, rates, loan amounts, application ease, loan terms and lender reputation based on customer reviews. We also consider Better Business Bureau ratings and reviews, as well as customer reviews on Trustpilot.

Compare more business loan providers

Narrow down top business lenders by minimum and maximum loan amounts, APR and requirements to find the best for your budget and financial goals. Select Compare for up to four products to see their benefits side by side.

Product USFBL Finder Score Min. Amount Max. Amount APR Requirements
Olympus Business Capital
Olympus Business Capital logo
Finder score
$500
$250,000
Not stated
Been in business for 6 months registered with the state, active and open bank account in business name, have $10,000 of revenue each month
No credit needed. Funding up to $250,000 with a variety of finance options to best fit your business needs.
Go to site
Finder score
$1,000
$5,000,000
Varies by lender
Operate business in US or Canada for 6 months or more, have a business bank account, minimum 520 personal credit score, at least $8,000 in monthly revenue.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Finder score
$2,500
$5,000,000
Varies based on lenders
$60,000+ of annual revenue, 550+ personal credit score, in business for 6+ months
Get connected with short-term funding, SBA loans, lines of credit and more.
National Funding business loans
National Funding logo
Finder score
$5,000
$500,000
Undisclosed
In business 6+ months and make at least $250,000 in annual sales. Other loan types have additional requirements.
Working capital loans and equipment financing, some high-risk industries may be eligible.
Go to site
Finder score
$2,000
$250,000
N/A
Minimum FICO score of at least 660 at the time of application, have started your business at least a year ago, and an average monthly revenue of at least $3,000
Access lines of credit for your small business even if you aren't currently an Amex customer.
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What is the Finder Score?

The Finder Score crunches 12+ types of business loans across 35+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best business loans for startups loans, you can see how each business loan stacks up against other business loans with the same borrower type, rate type and repayment type.

Read the full Finder Score breakdown

How no-document lenders work

A no-doc business loan doesn’t mean you won’t fill out any forms — it just means you may not 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 specific 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. If you need new equipment, look at equipment financing. For 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 is especially important if you’re trying to cover an urgent expense.
  5. Do I meet the eligibility requirements?Don’t waste your time applying with lenders you can’t qualify for.

Pros and cons of online no-doc lenders vs. banks

When you’re deciding between a no-doc lender vs a traditional loan from a bank, it’s essential to assess your business’s specific circumstances, financial situation and priorities. Here are some pros and cons to consider.

Pros

  • Quick application process. Most no-doc lenders use AI to scrape your accounts for the information they need, which can lead to a decision within minutes or hours compared to weeks or months with a bank.
  • Faster funding. A quick decision allows lenders to fund your loan within 24 to 48 hours from approval.
  • Options for bad credit. Many lenders are willing to work with poor- and fair-credit borrowers.

Cons

  • Higher interest rates. No-doc loans are seen as higher risk by many lenders and can come with a higher interest rate than you may find at a traditional bank.
  • Daily or weekly repayment. Depending on the lender, you may have to pay back your loan in weekly or even daily repayments, which can be harder to make and less flexible than a more traditional monthly payment.
  • May be more expensive. Some no-doc lenders require down payments or charge high underwriting fees.

Alternatives to no-doc providers

You’ll find that most lenders do require some type of paperwork — especially when it comes to business loans. But if you’re looking to compare your options without submitting mountains of paperwork, you do have other options.

  • Business loan marketplace. Also sometimes called a connection service, a marketplace allows you to fill out one set of forms that can be completed within minutes and submit your information to several lenders at once. You can apply for free, though some marketplaces charge packing fees to apply for an SBA loan.
  • Community bank. This option may require lots of documentation the first time around. But once your loan officer gets to know your business, they may be able to get your financing within a day or even hours without requiring extra paperwork.
  • Startup funding. No-doc loan providers tend to require at least three months in business to qualify, so if you’re looking for startup financing, you’ll need to look for lenders who specifically cater to brand new businesses and those that haven’t yet opened their doors.
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Editor

Anna Serio was a lead editor at Finder, specializing in consumer and business financing. A trusted lending expert and former certified commercial loan officer, Anna's written and edited more than 1,000 articles on Finder to help Americans strengthen their financial literacy. Her expertise and analysis on personal, student, business and car loans has been featured in publications like Business Insider, CNBC and Nasdaq, and has appeared on NBC and KADN. Anna holds an MA in Middle Eastern studies from the American University of Beirut and a BA in Creative Writing from Macaulay Honors College at Hunter College, CUNY. See full bio

Anna's expertise
Anna has written 177 Finder guides across topics including:
  • Personal, business, student and car loans
  • Building credit
  • Paying off debt

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