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Fast Business Loans: Best Lenders for Quick Cash

Steve NicastroNovember 21, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Online lenders provide fast business loans for immediate needs or a business opportunity. Compare your options.

Easily get real, personalized small business loan rates to compare -- not just ranges or estimates.

It's free and won't affect your credit.

Get Started

on Fundera's website

Our picks for

Fast business loans for immediate needs

Kabbage - Line of credit

Kabbage - Line of credit

Est. APR

24.00-99.00%

Min. Credit Score

560

Kabbage provides fast loans for business owners with bad personal credit, but rates can be high.

Pros

  • Financing up to $250,000 available within a few days.
  • Accepts low credit scores.

Cons

  • Rates are high compared to other online lenders.
  • Must have online checking or PayPal account to verify cash flow.
  • Fixed-fee structure means early repayment does not save interest.
Read full review

Qualifications

  • Minimum credit score: 560.
  • Minimum time in business: 1 year.
  • Minimum annual revenue: $50,000.
QuarterSpot - Online term loan

QuarterSpot - Online term loan

Est. APR

30.00-70.00%

Min. Credit Score

550

QuarterSpot's short-term business loans provide a financing option for borrowers with poor credit, but at high rates.

Pros

  • Requires low minimum credit score.
  • Cash can be available within the same day.
  • No prepayment penalty.

Cons

  • Rates are high compared to other online lenders.
  • Short loan terms.
  • Requires personal guarantee.
Read full review

Qualifications

  • Minimum credit score: 550.
  • Minimum time in business: 2 years.
  • Minimum annual revenue: $200,000.
  • Average at least 10 monthly revenue-producing deposits.
  • Minimum $2,000 average daily account balance.
Fundbox - Line of credit

Fundbox - Line of credit

Est. APR

10.10-79.80%

Min. Credit Score

500

Fundbox offers a business line of credit to fill a cash-flow gap, and qualifying is easier than with other lenders.

Pros

  • Cash can be available by the next day.
  • Low minimum credit score requirement.

Cons

  • Rates are high compared to other online lenders.
Read full review

Qualifications

  • Minimum credit score: 500.
  • Minimum time in business: 3 months.
  • Minimum annual revenue: $50,000.

Our picks for

Fast business loans for an opportunity

StreetShares - Online term loan

StreetShares - Online term loan

Est. APR

9.14-39.99%

Min. Credit Score

600

StreetShares offers a business term loan for newer businesses that need to finance an expansion.

Pros

  • No prepayment penalty.

Cons

  • Requires weekly repayments.
  • Financing amounts limited to 20% of annual revenue.
Read full review

Qualifications

  • Minimum credit score: 600.
  • Minimum time in business: 1 year.
  • Minimum annual revenue: $25,000.
  • No bankruptcies in the past 3 years.
OnDeck - Online term loan

OnDeck - Online term loan

Est. APR

9.00-99.00%

Min. Credit Score

600

OnDeck offers a fast term loan for small-business owners with less-than-stellar credit who want to expand.

Pros

  • Cash can be available within the same business day.
  • Requires low minimum credit score.
  • Less paperwork than most lenders.

Cons

  • Fixed-fee structure means early repayment will not save interest.
  • Requires frequent (daily or weekly) repayments.
  • Requires business lien and personal guarantee.
Read full review

Qualifications

  • Minimum credit score: 600.
  • Minimum time in business: 1 year.
  • Minimum annual revenue: $100,000.
  • No bankruptcies in the past 2 years.

Easily get real, personalized small business loan rates to compare -- not just ranges or estimates.

It's free and won't affect your credit.

Get Started

on Fundera's website

Summary of Fast Business Loans: Best Lenders for Quick Cash

LenderBest ForEst. APRMin. Credit Score
Kabbage - Line of credit

Kabbage - Line of credit

Apply Now

on Kabbage's website

Fast business loans for immediate needs

24.00-99.00%

560

QuarterSpot - Online term loan

QuarterSpot - Online term loan

Apply Now

on QuarterSpot's website

Fast business loans for immediate needs

30.00-70.00%

550

Fundbox - Line of credit

Fundbox - Line of credit

Apply Now

on Fundbox's website

Fast business loans for immediate needs

10.10-79.80%

500

StreetShares - Online term loan

StreetShares - Online term loan

Apply Now

on StreetShares's website

Fast business loans for an opportunity

9.14-39.99%

600

OnDeck - Online term loan

OnDeck - Online term loan

Apply Now

on OnDeck's website

Fast business loans for an opportunity

9.00-99.00%

600

LenderBest ForEst. APRMin. Credit Score
Kabbage - Line of credit

Kabbage - Line of credit

Apply Now

on Kabbage's website

Fast business loans for immediate needs

24.00-99.00%

560

QuarterSpot - Online term loan

QuarterSpot - Online term loan

Apply Now

on QuarterSpot's website

Fast business loans for immediate needs

30.00-70.00%

550

Fundbox - Line of credit

Fundbox - Line of credit

Apply Now

on Fundbox's website

Fast business loans for immediate needs

10.10-79.80%

500

StreetShares - Online term loan

StreetShares - Online term loan

Apply Now

on StreetShares's website

Fast business loans for an opportunity

9.14-39.99%

600

OnDeck - Online term loan

OnDeck - Online term loan

Apply Now

on OnDeck's website

Fast business loans for an opportunity

9.00-99.00%

600

Fast business loans for immediate needs

For newer businesses or those with recurring expenses

Business credit cards offer fast, flexible financing. They offer higher limits than personal cards, and they come with rewards such as cash back and travel miles for business and general expenses. They also come with the added potential bonus of helping you build up your business credit score.

Business credit cards typically have annual percentage rates ranging from 12% to 22% (plus other fees like annual fees, late fees and cash advance fees), though if you don’t carry a balance month to month, you won’t get hit with interest charges.

For businesses that need cash as fast as possible

KabbageQuarterSpot and Fundbox provide fast cash to deal with immediate needs, such as meeting payroll, buying inventory or fixing broken equipment.

Consider Kabbage if you need funding up to $250,000. You can complete Kabbage’s online application in minutes and get funding just as fast or within a few days. It requires a minimum credit score of 560, and your business needs two years of history and at least $50,000 in annual revenue to qualify.

QuarterSpot provides loans up to $200,000. The lender requires business owners to have a minimum credit score of 550, with at least two years in business and $200,000 in annual revenue. It can provide funds in as little as 24 hours after approval.

Fundbox's line of credit is an option for financing up to $100,000. Funding is as fast as the next business day. Qualifying may be easier than Kabbage and QuarterSpot, as you’ll need a minimum of $50,000 in revenue and three months in business to qualify, with no minimum credit score requirements. Your rate may also be lower than Kabbage and QuarterSpot, with APRs starting around 10%.

Fast business loans for an opportunity

For businesses that are at least a year old

StreetShares and OnDeck provide fast business loans to finance growth opportunities, such as launching a marketing campaign or buying new equipment.

Consider StreetShares if your business is newer and you’re not seeking to borrow a lot of money. Funding is between one to five days. The company’s term loan requires a minimum of one year in business, a personal credit score starting at 600 and at least $75,000 in annual revenue.

OnDeck’s funding turnaround can be as fast as a single day, though more often it takes several days. However, your rates will likely be higher than at StreetShares. To qualify, you need at least a 600 credit score, a year in business and $100,000 in annual revenue. OnDeck requires daily or weekly repayments on its term loans, so your business would need steady cash flow to handle the repayment frequency.

If you have a strong business and want lower rates

Credibility Capital offers term loans that come with lower rates than OnDeck, and higher borrowing amounts than StreetShares. However, the lender has stricter qualifications and it may take a little bit longer to get funded.

The lender is also currently unavailable to borrowers in Nevada, North Dakota, South Dakota, and Vermont.

» MORE: Calculate the costs of a business loan

Compare small-business loans

NerdWallet has come up with a list of the best small-business loans to meet your needs and goals. We gauged lender trustworthiness and user experience, among other factors, and arranged lenders by categories that include your revenue and how long you’ve been in business.

Last updated on November 21, 2019

To recap our selections...

NerdWallet's Fast Business Loans: Best Lenders for Quick Cash