5 Best Easy Business Loans for 2022

Learn when the fast funding times and relaxed standards of easy business loans make up for higher interest rates.
Dec 20, 2021

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Some business loans are simply easier and quicker to apply for than others. The level of accessibility for different funding options definitely depends on what kind of small business loan you’re hoping to secure and the lender you're planning on going through.

Ready to get into the details? Learn everything there is to know about these lenders of easy business loans below.

Top easy business loans: Overview


Best For

Loan Products


Medium-term funding up to $250,000

Line of credit

Rapid Finance

Large short-term loans

Short-term loan, merchant cash advance


Short-term funding up to $150,000

Line of credit

National Funding

 Easy-to-acquire equipment financing

Short-term loan, equipment financing


Line of credit up to $250,000

Line of credit

The 5 best easy business loans

Here are the fundamentals on the lenders that offer the easiest business loans to acquire. We'll touch on the loan products they offer, their qualification standards and how much funding you can get from them. Keep in mind that sometimes, the easiest loans to get come with the highest rates because convenience can come at a cost.

Kabbage - Best for medium-term funding

Kabbage is a purveyor of business lines of credit. With a Kabbage line of credit, you can receive anywhere between $2,000 and $250,000 on a loan term of six, 12 or 18 months. Instead of traditional interest, Kabbage charges monthly fees depending on your loan's term:

  • Six-month term: 0.25% to 3.50%.

  • 12-month term: 0.25% to 2.75%.

  • 18-month term: 0.25% to 2.50%.

Kabbage offers a streamlined commercial business loan application with minimal paperwork involved. In many cases, you can receive funding in as little as 24 hours. All you have to do to get started is connect your business bank account and other business accounts to your Kabbage application.

Kabbage will then review your financial history via your accounts to make a decision. You will find out whether you are approved or denied within minutes, making this a very good lender to work with to get a business loan.

How to qualify

To qualify for a Kabbage line of credit, you'll need to meet the following requirements:

  • $3,000 in monthly revenue.

  • 1 year of time in business.

  • Minimum credit score of 640.

Repayment is monthly and debited directly from your business bank account.

Rapid Finance - Best for large funding needs

Rapid Finance (formerly Rapid Advance) is an alternative lender that offers short-term small business loans to grow your existing business.

The small business loans range in amount from $5,000 to $1 million, with loan terms ranging from three months to five years. The best part is there's no impact on your credit in order to get a quote.

Rapid Finance also offers a merchant cash advance product with loan amounts between $5,000 and $500,000. The payback of this loan is determined by sales and not a fixed rate.

What makes Rapid Finance an easy business loan purveyor is right there in the name: they're quick to fund. On average, you can receive funding in as little as one day, making this a great lender for those that need a large amount of financing quickly.

You also don't have to put up collateral with Rapid Finance, which offers a prepayment discount. Keep in mind, though, that you'll have to pay back the Rapid Finance business loan with daily, weekly or monthly payments, which could put a dent in your cash flow.

How to qualify

The qualifications for financing from Rapid Finance are:

  • Minimum 550 credit score.

  • 2+ years of business history.

  • $120,000 in annual revenue.

Fundbox - Best for short-term funding needs.

Fundbox is a line-of-credit provider that's similar to Kabbage, albeit with shorter terms. Through Fundbox, you can acquire between $1,000 and $150,000 on a 12-24 week term. Interest rates on the line-of-credit product start at 4.66% for a 12-week repayment plan. When you convert this into a weekly rate, it ends up costing 0.5% to 0.9% of the drawn amount per week.

For example, if you borrow $5,000 for 12 weeks, you’ll pay between $25 to $45 each week for 12 weeks. This amount will automatically be debited from your business bank account.

How to qualify

Qualification standards for financing from Fundbox are as follows:

  • Minimum 600 credit score.

  • $100,000 in annual revenue.

  • 6 months of time in business.

Because of these minimum qualifications, Fundbox is one of the most accessible forms of financing for small business owners.

National Funding - Best for equipment financing

National Funding is our next recommendation for lenders that provide easy business loans. With National Funding, you can acquire up to $500,000 for a short-term loan or as equipment financing. Their business loans are designed for business owners who can't get a loan from a bank, and their minimal qualification standards make them very accessible.

They also offer a variety of small business loans, like short-term loans, loans for bad credit, unsecured loans, working capital loans and small business loans for women.

To apply, you'll simply have to fill out an online application. Once National Funding reviews your application, they will perform a soft credit pull on your personal credit score. They advertise that you can get a decision in as few as 24 hours. If you qualify, you'll either have a daily or weekly repayment schedule.

The main benefit of National Funding is that they offer fast access to capital and an easy application process. Similar to Rapid Finance, the disadvantage with National Funding is that you will be subjected to daily or weekly payments. Their factor rates are also quite high.

How to qualify

The qualification requirements for National Funding are:

  • 500 minimum credit score.

  • $100,000 in annual revenue.

  • 1 year of time in business.

To apply, you'll also need three months of bank statements and a minimum bank balance of $1,500. National Funding also requires a personal guarantee from the borrower.

Bluevine - Best for lines of credit up to $250,000

Bluevine is our fifth and final option for an easy business loan. We recommend it because it offers lines of credit up to $250,000.

With a line of credit from Bluevine, you can secure terms of up to one year and interest rates as low as 4.8%.

Aside from flexibility, Bluevine can also fund in as little as two business days and there is no minimum bank balance requirement. What's more, bankruptcy doesn't disqualify you from qualifying for this loan.

For these reasons, Bluevine is an excellent lender for those looking for easy business loans.

How to qualify

The requirements for Bluevine's lines of credit are:

  • 625 minimum credit score.

  • $120,000 in annual revenues.

  • 6 months of business history.

What qualifies as an "easy" business loan

Now that we've provided you with different lenders that offer easy business loans, we should touch on how we selected them. There are a variety of factors that we considered when determining the lenders that provide easy business loans. They are as follows:

  • Qualification standards. The easier the lender's qualification standards, the easier it is to acquire financing. Therefore, we picked out lenders with low credit score, annual revenue and time in business requirements.

  • Time to fund. Another common thread with all our lenders is how quickly they could provide your business with financing. If a lender can approve your loan application quickly, this makes them easy to work with.

  • Ease of application. All of our lenders don't require very involved application processes. With most, you can complete the application online in a matter of minutes.

  • Loan amounts. In our evaluation, we looked for lenders that provide high loan amounts while not being particularly difficult to qualify for. Having a lender that is easy to work with and provides large loan amounts can be a huge benefit to a small business.

  • Cost of capital. Generally speaking, the easier it is to acquire funding from a lender, the higher the cost of capital. This is because highly accessible funding usually carries a greater risk for the lender. After all, the lender is making their funding available to a subset of business owners who may not be able to secure other forms of financing (which is why they are pursuing easy business loans in the first place). For this reason, lenders mitigate their risk by charging higher rates. We'll talk more about the cost of capital in the next section.

How to know if an easy business loan is right for you

With all the lender choices available, how do you know if it’s the right move to take on debt in the form of an easy business loan?

Though easy business loans don’t often offer ideal terms, they're a quick and easy funding option. Let’s take a look at when it’s the right choice to take this type of financing.

When it's your only option

If an easy small business loan is the only type of loan that you qualify for, then it’s time to think realistically about the nature of the loan.

Taking on debt is a huge decision, even more so when the debt is as expensive as easy business loans normally are. As such, you’re going to need to ask yourself if this easy business loan is completely necessary for you to take. If it is, and it’s the only option you qualify for, and you feel confident that you will be able to pay it back, then you should move forward with an easy business loan.

In many cases, an easy business loan now could be a stepping stone to better, longer (and harder to qualify for) business loans in the future—granted that you use the first, easy small business loan responsibly and improve your qualifications.

When speed is everything

Even if you and your business are qualified to borrow, you might find yourself in a bind that requires quick capital.

Maybe you’re seeking funding for an exciting but time-sensitive opportunity or maybe you've had a business emergency. Whatever the reason for urgency, an easy business loan might be the only option quick enough to meet your needs.

In this case, you should again take a moment to consider if the quick extra capital that this easy business loan promise is totally necessary.

Can you wait a little longer? If not, move forward with securing your easy business loan, use it to solve your immediate funding needs and re-evaluate for refinancing in the future.

When shouldn't you take on an easy business loan?

Now that we’ve explored the situations in which you should opt for an easy business loan, it’s time to take a look at situations in which you shouldn’t.

If you have any other option besides an easy business loan, you should probably choose that alternative.

But let’s get into more detail. Here are two very broad scenarios in which you shouldn’t take on this type of debt.

When you have any other funding option

Unless you’re unable to qualify for a loan with better terms or you’re unable to wait a bit to secure your loan, then you should choose another, less expensive funding option.

With easy business loans, lenders likely know that you don’t have many other options. As such, you typically pay a large amount in interest due to this lack of choice.

Remember, easy business loans are accessible business loans—meaning less qualified borrowers have options. And because the lender has less confidence that you’re a strong borrower who can definitely repay the loan, they’ll charge more in interest to compensate for this risk.

So, if you have another, less expensive funding option, then you should definitely choose that over any easy business loan.

When the extra capital isn’t crucial to your business

If you realize that an easy business loan is your only option, then we suggest that you take this opportunity to step back and rethink whether you really need this business funding.

Taking on debt is a big decision and taking on expensive debt is an even bigger decision.

If you feel strongly that you do need to accept an easy business loan, then take it on knowing full well what you’re getting into.

However, if you decide that capital is not crucial to your business right this moment, take your time to explore your other business loan options to find the right solution.

The bottom line

Only you can decide where you stand on easy small business loans. But keep in mind that any business loan you acquired easily is probably going to be pretty expensive, even if it comes from our list of lenders.

As such, if you have any option other than taking out an expensive, easy business loan, then we suggest you take that option. If you have the time, spend it looking for cheaper funding options. If you don’t have the time, at least take a moment to be sure you’re fully aware of what you’re getting yourself into when you take on debt with an easy business loan to make sure your business will be able to pay it off.

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with Fundera by NerdWallet

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