How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Here are 9 easy business loans
Lender | NerdWallet Rating▼ | Max loan amount▼ | Min. credit score▼ | Next steps |
---|---|---|---|---|
Bluevine - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Quick easy business loans | $250,000 | 625 | with Fundera by NerdWallet |
OnDeck - Online term loan with Fundera by NerdWallet | 5.0/5 Best for Easy short-term business loans | $250,000 | 625 | with Fundera by NerdWallet |
Fundbox - Line of credit | 5.0/5 Best for Easy business loans for startups | $150,000 | 600 | |
Triton Capital - Equipment financing with Fundera by NerdWallet | 4.0/5 Best for Easy equipment loans | $250,000 | 575 | with Fundera by NerdWallet |
Fora Financial - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Easy business loans for bad credit | $1,500,000 | 570 | with Fundera by NerdWallet |
National Funding - Online Term Loan with Fundera by NerdWallet | 4.0/5 Best for Easy unsecured business loans | $500,000 | 600 | with Fundera by NerdWallet |
Headway Capital - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Easy business lines of credit | $100,000 | 625 | with Fundera by NerdWallet |
Accion Opportunity Fund - Small Business Working Capital Loan | 5.0/5 Best for Easy business loans for women and minority groups | $250,000 | 570 | |
AltLINE - Invoice Factoring | 4.5/5 Best for Easy invoice factoring | $10,000,000 | 300 | |
Here are 9 easy business loans
Best for Quick easy business loans
Best for Easy short-term business loans
Best for Easy business loans for startups
Max Amount
$150,000
Min. Credit Score
600
Best for Easy equipment loans
Best for Easy business loans for bad credit
Best for Easy unsecured business loans
Best for Easy business lines of credit
Best for Easy business loans for women and minority groups
Max Amount
$250,000
Min. Credit Score
570
Best for Easy invoice factoring
Max Amount
$10,000,000
Min. Credit Score
300
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Our pick for
Quick easy business loans
Bluevine can provide funding as quickly as 12 to 24 hours. You may be able to qualify if you have a minimum credit score of 625.
Bluevine - Line of credit
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
625
Apr range
20.00-50.00%
with Fundera by NerdWallet
Our pick for
Easy short-term business loans
OnDeck can provide funding as fast as the same day your loan is finalized. You may be able to qualify with at least 12 months in business and a credit score of 625 or higher.
OnDeck - Online term loan
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
625
Apr range
27.20-99.90%
with Fundera by NerdWallet
Our pick for
Easy business loans for startups
You may be able to qualify for one of these easy business loans if your startup has at least six months in business.
Fundbox - Line of credit
Max loan
$150,000
Min. Credit score
600
Apr range
36.00-99.00%
Our pick for
Easy equipment loans
Triton Capital can finance equipment loans in one to two business days. Businesses with bad credit (FICO score below 630) may be able to qualify.
Triton Capital - Equipment financing
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
575
Apr range
5.99-34.99%
with Fundera by NerdWallet
Our pick for
Easy business loans for bad credit
You may be able to qualify for a short-term business loan from Fora Financial with a credit score of 570 or higher and at least six months in business. After your application is approved, you can receive financing in as little as 72 hours.
Fora Financial - Online term loan
with Fundera by NerdWallet
Max loan
$1,500,000
Min. Credit score
570
with Fundera by NerdWallet
Our pick for
Easy unsecured business loans
National Funding offers fast financing and flexible qualification requirements — plus, it doesn't require physical collateral to secure your loan.
National Funding - Online Term Loan
with Fundera by NerdWallet
Max loan
$500,000
Min. Credit score
600
with Fundera by NerdWallet
Our pick for
Easy business lines of credit
Headway Capital’s line of credit is a great option for working capital needs. Loan amounts are available up to $100,000 and you may be able to receive funding within one day after your application is approved.
Headway Capital - Line of credit
with Fundera by NerdWallet
Max loan
$100,000
Min. Credit score
625
Apr range
35.00-80.00%
with Fundera by NerdWallet
Our pick for
Easy business loans for women and minority groups
You may be able to qualify for a loan from Accion Opportunity Fund with 12 months in business and a minimum credit score of 570. Accion says 90% of its borrowers are women, people of color, and/or low-to-moderate income.
Accion Opportunity Fund - Small Business Working Capital Loan
Max loan
$250,000
Min. Credit score
570
Apr range
8.49-29.67%
Our pick for
Easy invoice factoring
For business-to-business companies, AltLINE can offer fast cash within 24 to 48 hours for your unpaid invoices. AltLINE does not have a specific time in business or minimum credit score requirement.
AltLINE - Invoice Factoring
Max loan
$10,000,000
Min. Credit score
300
What qualifies as an easy business loan?
Flexible qualifications
Quick to fund
Simple applications
- Business financial statements, such as a profit and loss statement.
- Business and personal tax returns.
- Business and personal bank statements.
Issued by online lenders
Higher interest rates
When to get an easy business loan
- You can’t qualify for other types of financing. If you can’t qualify for a bank or SBA loan, an easy business loan from an online lender might be a good option. Although one of these loans will typically have higher interest rates than more traditional funding options, they can provide the money you need to cover a variety of expenses. And, taking a loan and making timely payments will likely help you qualify for more competitive types of business financing in the future.
- You need cash fast. Bank and SBA loans can take several weeks to fund, sometimes longer. If you need capital fast — to cover emergency expenses or to take advantage of a new business opportunity, for example — you might be willing to pay a little more for the speed of an easy business loan.
When to consider alternatives
- You can qualify for a bank or SBA loan. In general, the best loan for your business is the one with the most competitive rates and terms. If you can qualify for a bank or SBA loan, these loans will likely be the most affordable option for your business.
- You can wait for financing. Although speed seems like a benefit of easy business loans, it often corresponds with higher interest rates. If your business doesn’t need cash immediately — and you can qualify and go through a longer application process — a bank or SBA loan will usually offer lower interest rates. Or, even if you can’t qualify for one of these loans just yet, you might be able to step back and improve your credit or increase your monthly revenue so that you can access more competitive rates and terms when you do apply for a loan in the future.
How to choose the right easy business loan
Understand your financing needs
- Determine what type of funding is best for you. Several factors can help you decide which financing option will meet your needs. You can think about how much money you need and how you’re going to use it. You can also consider different types of business loans — business lines of credit, term loans, equipment financing, invoice factoring — and which might be the right fit.
- Figure out how much debt you can afford. Easy business loans will likely have higher interest rates and fees than other types of financing. You’ll want to review your business financials to estimate how much additional debt you can manage before taking it on.
Do your research
- Check your qualifications. Review common underwriting criteria — time in business, credit score, annual revenue — so you have a sense of where your business stands before applying.
- Research several lenders and their requirements. Although easy business lenders typically don’t require physical collateral, you’ll likely have to sign a personal guarantee. The lender may also take out a general lien on your business assets.
- Avoid predatory lenders. Stay away from lenders that promise guaranteed approval or business loans with no credit check. Although there are many reputable online lenders on the market, predatory lenders tend to target small businesses that are having trouble qualifying for financing. If you think a loan offer seems too good to be true, it probably is.
Review your options carefully
- Compare multiple loan offers. You’ll want to make sure that you’re getting the best deal for your business, so consider factors like interest rates, repayment terms, fees and prepayment penalties.
- Calculate the total cost of the loan. Certain online lenders quote interest rates in different ways; while some use annual percentage rates, others may use simple interest rates or factor rates. The best way to understand the total cost of your loan is to calculate any interest rate into an APR.
- Read your business loan agreement thoroughly. It’s important to ensure that you understand all the terms associated with your loan including interest rates, fees, repayment terms, potential early payment penalties and any personal guarantee requirements that may apply. You can ask your lender for clarification if you have any questions.
Find the right business loan
Methodology
Wondering if you qualify?
It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.