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 10 fast business loans
Lender | NerdWallet Rating▼ | Max loan amount▼ | Min. credit score▼ | Next steps |
---|---|---|---|---|
Headway Capital - Line of credit with Fundera by NerdWallet | 4.7/5 Best for Fast business loans for working capital | $100,000 | 625 | with Fundera by NerdWallet |
Bluevine - Line of credit with Fundera by NerdWallet | 5.0/5 Best for Fast business lines of credit | $250,000 | 625 | with Fundera by NerdWallet |
Fundbox - Line of credit | 4.9/5 Best for Fast business loans for startups | $150,000 | 600 | Read Review |
American Express® Business Line of Credit | 4.6/5 Best for Fast business loans for American Express customers | $250,000 | 660 | Read Review |
OnDeck - Online term loan with Fundera by NerdWallet | 4.7/5 Best for Fast short-term business loans | $250,000 | 625 | with Fundera by NerdWallet |
Fora Financial - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Fast business loans for bad credit | $1,500,000 | 570 | with Fundera by NerdWallet |
AltLINE - Invoice Factoring | 4.4/5 Best for Fast invoice factoring | $10,000,000 | 300 | Read Review |
Funding Circle - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Fast secured business loans | $500,000 | 660 | with Fundera by NerdWallet |
National Funding - Online Term Loan with Fundera by NerdWallet | 4.1/5 Best for Fast unsecured business loans | $500,000 | 600 | with Fundera by NerdWallet |
Triton Capital - Equipment financing with Fundera by NerdWallet | 4.1/5 Best for Fast equipment loans | $250,000 | 575 | with Fundera by NerdWallet |
Here are 10 fast business loans
Best for Fast business loans for working capital
Best for Fast business lines of credit
Best for Fast business loans for startups
Best for Fast business loans for American Express customers
Best for Fast short-term business loans
Best for Fast business loans for bad credit
Best for Fast invoice factoring
Best for Fast secured business loans
Best for Fast unsecured business loans
Best for Fast equipment loans
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Our pick for
Fast business loans for working capital
Headway Capital can provide funding within one business day of approval. This line of credit is a good option for business owners in need of working capital.
Headway Capital - Line of credit
Max loan
$100,000
Min. Credit score
625
Apr range
35.00-80.00%
Our pick for
Fast business lines of credit
Bluevine offers a flexible line of credit in amounts up to $250,000. You can receive funds in as little as 24 hours — or as quickly as the same day, for an added fee.
Bluevine - Line of credit
Max loan
$250,000
Min. Credit score
625
Apr range
20.00-50.00%
Our pick for
Fast business loans for startups
You may be able to qualify for a Fundbox line of credit with a minimum of six months in business. Fundbox can provide funding as soon as the next business day after approval.
Fundbox - Line of credit
Max loan
$150,000
Min. Credit score
600
Apr range
36.00-99.00%
Our pick for
Fast business loans for American Express customers
American Express offers faster access to cash compared with traditional lenders. Existing customers can use their accounts to find out if they prequalify for this business credit line.
American Express® Business Line of Credit
Max loan
$250,000
Min. Credit score
660
Our pick for
Fast short-term business loans
OnDeck provides business loans with terms up to 24 months. You can apply for a loan in minutes and may be able to receive same-day funding.
OnDeck - Online term loan
Max loan
$250,000
Min. Credit score
625
Apr range
27.20-99.90%
Our pick for
Fast business loans for bad credit
Fora Financial can approve applications within four hours and provide funding just 72 hours later. You may be able to qualify for a loan with a minimum credit score of 570.
Fora Financial - Online term loan
Max loan
$1,500,000
Min. Credit score
570
Our pick for
Fast invoice factoring
AltLINE offers invoice factoring with competitive rates and flexible qualification requirements. Funding can be available within 24 to 48 hours.
AltLINE - Invoice Factoring
Max loan
$10,000,000
Min. Credit score
300
Our pick for
Fast secured business loans
Many term loans from Funding Circle will require some type of collateral. The lender offers approval and funding as fast as two days.
Funding Circle - Online term loan
Max loan
$500,000
Min. Credit score
660
Apr range
15.22-45.00%
Our pick for
Fast unsecured business loans
National Funding doesn’t require you to put up physical collateral to secure your loan. You can receive a decision and access funds in as little as 24 hours.
National Funding - Online Term Loan
Max loan
$500,000
Min. Credit score
600
Our pick for
Fast equipment loans
Triton Capital can finance new and used equipment for businesses in a variety of industries. Typically, loans are approved within a few hours and funding is available within one to two business days.
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
What is a fast business loan?
Pros and cons of fast business loans
Access to capital within a few business days.
Variety of loan types to choose from.
Streamlined application processes; typically minimal documentation required.
Startups and borrowers with bad credit may qualify.
Interest rates are often higher than other options.
Tend to have shorter repayment terms and smaller funding maximums.
May require more frequent payments (weekly or daily).
Types of fast business loans
When to get a fast business loan
You need to pay for immediate expenses
You want fast business funding until you get a long-term loan
You can’t qualify for other types of financing
How to get a fast business loan
1. Understand your financing needs
2. Evaluate your qualifications
3. Research and compare lenders
🤓 Nerdy Tip
Although there are many reputable online lenders on the market, predatory lenders may try to take advantage of borrowers who are looking for fast business loans. Be wary of any lenders that try to push you too quickly through the loan process without showing loan terms and rates upfront. These types of lenders may also try to make promises like guaranteed approval or business loans with no credit check.4. Complete and submit your loan application
5. Review your options and get funds
How to compare fast business loans
- Loan type. Compare loan types and the features unique to each. If you need a lump sum of money, a term loan or equipment loan might be best. Or, if you want to draw money as you need it, a line of credit is often a good fit.
- Funding speed. Confirm the processing times and funding speeds of the lenders as well as whether the loan funds can be deposited directly in your bank account.
- Interest rate and APR. Review the interest rates offered and the corresponding annual percentage rate. It’s important to look at the APR because it factors in loan fees and gives the actual yearly cost of a loan.
- Monthly payment amount. Compare the amount and frequency of payments to make sure they fit into your budget. A business loan calculator can help you estimate your payment amounts.
- Loan term. Longer loan terms can mean smaller monthly payments, in some cases. A short loan term could mean that you’d pay less in interest.
- Collateral requirements. Check to see if the lender is requiring collateral or if offering it would improve your loan terms. In either case, review the assets you have available to back up the loan such as accounts receivable, equipment and real estate.
- Prepayment penalty. Look to see if any of the lenders have prepayment penalties that charge you a fee if you pay the loan off early. These types of fees add to the cost of a loan.
- Customer support. Compare the level of support you will receive from the lender. In some cases you may work with one loan representative through the entire process, while other lenders may use a call center to update applicants on their loan status.
Alternatives to fast business loans
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.