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Fast Business Loans: Best Lenders for Quick Cash

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

Steve NicastroMarch 19, 2021
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Maybe a major piece of equipment at your store has failed or your pipes burst. Perhaps you don’t want to miss out on a business opportunity. Sometimes your small business needs funding in a matter of days, not weeks or months.

You need a fast business loan, which probably means you’re willing to pay more for the speed and convenience that online lenders offer but banks often don't.

Business loans from banks are great for keeping loan costs down, but the long application and underwriting process means it can take months to get your money. Below, we compare some of the best online business loans for fast cash.

How Much Do You Need?

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Our pick for

Fast business loans for an opportunity

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OnDeck - Online term loan

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Est. APR

9.00 - 99.00%

Depending on your creditworthiness and your business's financials

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.

Our pick for

Fast business loans for lower rates

See Your Loan Options

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Credibility Capital - Online term loan

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Est. APR

6.99 - 24.99%

Depending on your creditworthiness and your business's financials

Min. Credit Score

650

Credibility Capital offers low-cost business loans that work best for small-business owners with strong credit.

Pros

  • Competitive rates among online lenders.
  • No prepayment penalty.
  • Extra monthly payments can save interest cost.

Cons

  • Requires high minimum credit score and revenue.
  • Requires business lien and may require personal guarantee.
  • Not available in Nevada, North Dakota, South Dakota or Vermont.
Read full review

Qualifications:

  • Minimum credit score: 650.
  • Minimum time in business: 2 years.
  • Minimum annual revenue: $200,000.
  • No bankruptcies in the past 5 years.

Our pick for

Fast business loans for immediate needs

See Your Loan Options

on Fundbox's secure website

Fundbox - Line of credit

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on Fundbox's secure website

Est. APR

10.10 - 79.80%

Depending on your creditworthiness and your business's financials

Min. Credit Score

600

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 traditional banks.
Read full review

Qualifications:

  • Minimum credit score: 600.
  • Minimum time in business: 6 months.
  • Minimum annual revenue: $100,000.

How Much Do You Need?

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Summary of Fast Business Loans: Best Lenders for Quick Cash

LenderBest ForEst. APRMin. Credit ScoreNext Steps

OnDeck - Online term loan

Best for Fast business loans for an opportunity9.00 - 99.00%600
See Your Loan Options

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Credibility Capital - Online term loan

Best for Fast business loans for lower rates6.99 - 24.99%650
See Your Loan Options

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Fundbox - Line of credit

Best for Fast business loans for immediate need10.10 - 79.80%600
See Your Loan Options

on Fundbox's secure website

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

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

Fundbox's line of credit is an option for financing up to $150,000. Funding is as fast as the next business day. You’ll need a minimum of $100,000 in revenue and three months in business to qualify, with no minimum credit score requirements. APRs start around 10%.

Fast business loans for an opportunity

FOR BUSINESSES THAT ARE AT LEAST A YEAR OLD

OnDeck provides quick business loans to finance growth opportunities, such as launching a marketing campaign or buying new equipment.

OnDeck can offer same-day business loans, though more often funding takes several days. 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. 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.

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 April 29, 2021

To recap our selections...

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

Does your business need funding? Find your best loan options with Fundera by NerdWallet.

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