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:
Lendio is one of the largest business loan marketplaces, partnering with more than 75 lenders. You can prequalify for a range of options in a few clicks and compare the terms you might qualify for with different no-paperwork providers. Since no-doc financing tends to come with higher-than-average rates, using a marketplace to compare offers can help you find a competitive deal. But be sure to reach out to the lender to make sure it doesn't require any paperwork before you continue with your application.
Loan amount
$1,000 – $10,000,000
APR
Varies by lender
Min. Credit Score
500
Lendio is one of the largest business loan marketplaces, partnering with more than 75 lenders. You can prequalify for a range of options in a few clicks and compare the terms you might qualify for with different no-paperwork providers. Since no-doc financing tends to come with higher-than-average rates, using a marketplace to compare offers can help you find a competitive deal. But be sure to reach out to the lender to make sure it doesn't require any paperwork before you continue with your application.
Pros
Partners with over 75 lenders
Wide range of different types of financing
Options for bad credit
Cons
Not a direct lender
Some lenders may require paperwork
Loan amount
$1,000 – $10,000,000
APR
Varies by lender
Min. Credit Score
500
Loan term
3 months to 25 years
Requirements
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.
OnDeck is an online lender that specializes in short-term loans and lines of credit for small businesses. It requires most borrowers to submit only three months of business bank statements, which you can download from your online bank account. It's also one of the few online lenders that can fund your loan the same day you're approved. But it's an expensive option — save this lender for when you're willing to pay extra for convenience.
Loan amount
$5,000 – $250,000
APR
Average is 55.9% to 56.1%.
Min. Credit Score
625
OnDeck is an online lender that specializes in short-term loans and lines of credit for small businesses. It requires most borrowers to submit only three months of business bank statements, which you can download from your online bank account. It's also one of the few online lenders that can fund your loan the same day you're approved. But it's an expensive option — save this lender for when you're willing to pay extra for convenience.
Pros
Same-day funding available
Reduced fees for repeat borrowers
Cons
High starting APR of 29.9%
Choice between prepayment penalty or higher rates
Requires some documents
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
National Business Capital is a lending marketplace that allows you to fill out a one-page application and get offers from a pool of its 75+ lending partners. We chose this service because, while it has a higher annual sales requirement, there's no minimum credit score and no restrictions on the kind of equipment you purchase with your funds.
But because it's a marketplace, you won't know what kind of APR you might get until you get offers from one or more of NBC's partners.
Loan amount
Up to 100% of equipment value
APR
Varies by lender
Min. Credit Score
None required
National Business Capital is a lending marketplace that allows you to fill out a one-page application and get offers from a pool of its 75+ lending partners. We chose this service because, while it has a higher annual sales requirement, there's no minimum credit score and no restrictions on the kind of equipment you purchase with your funds.
But because it's a marketplace, you won't know what kind of APR you might get until you get offers from one or more of NBC's partners.
Pros
Requires bank statements only
No restrictions on equipment type
No minimum credit score
Up to 100% LTV
Cons
Doesn't provide an APR range until you've applied
High annual sales requirement
Loan amount
Up to 100% of equipment value
APR
Varies by lender
Min. Credit Score
None required
Loan term
1 to 5 years
Requirements
No min credit score, 1 year in business, $500,000 in annual revenue
Similar to Lendio, BusinessLoans.com is a lending marketplace to help match small businesses to one of their online lending partners. You provide some basic information about you and your business either online or on their app. The free service connects you to at least five of their partners that provide offers within minutes based on your qualifications.
The service works with businesses with all types of credit, but you must have been in business for 1–2 years and have a minimum annual revenue of $75,000–$250,000, depending on the lender you want to work with.
Loan amount
$5,000 – $3,000,000
APR
Varies by loan type and lender
Min. Credit Score
500
Similar to Lendio, BusinessLoans.com is a lending marketplace to help match small businesses to one of their online lending partners. You provide some basic information about you and your business either online or on their app. The free service connects you to at least five of their partners that provide offers within minutes based on your qualifications.
The service works with businesses with all types of credit, but you must have been in business for 1–2 years and have a minimum annual revenue of $75,000–$250,000, depending on the lender you want to work with.
Pros
Low minimum credit score
Funding turnaround as fast as 24 hours to one week
See offers with no hard credit check
No fee to use the service
Cons
Not a direct lender
Not clear on lender fees
Qualifications can exclude smaller businesses
Loan amount
$5,000 – $3,000,000
APR
Varies by loan type and lender
Min. Credit Score
500
Loan term
3 months to 10 years
Requirements
Must have been in business between 1 to 2 years, have a minimum revenue of $75,000 to $250,000 and have a minimum credit score of 500 to 650.
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.
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:
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.
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.
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.
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.
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.
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 181 Finder guides across topics including:
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
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