Loan | NerdWallet Rating | Best For | Max loan amount | Min. credit score | APR range | Max term length | Learn more |
---|---|---|---|---|---|---|---|
Fora Financial - Online term loan Read reviewwith Fundera by NerdWallet | Best for borrowers with bad credit | $1,500,000 | 570 | Undisclosed | 18 months | with Fundera by NerdWallet | |
Bluevine - Line of credit Read reviewwith Fundera by NerdWallet | Best for fast draws | $250,000 | 625 | 14.00-48.00% | 6 months | with Fundera by NerdWallet | |
iBusiness Funding - Online term loan Read reviewwith Fundera by NerdWallet | Best for long-term financing | $500,000 | 660 | 15.22-45.00% | 7 years | with Fundera by NerdWallet | |
Headway Capital - Line of credit Read reviewwith Fundera by NerdWallet | Best for startups | $100,000 | 625 | 35.00-80.00% | 24 months | with Fundera by NerdWallet | |
OnDeck - Online term loan Read reviewwith Fundera by NerdWallet | Best for short-term business loans | $250,000 | 625 | 27.20-99.90% | 24 months | with Fundera by NerdWallet | |
National Funding - Equipment financing Read reviewwith Fundera by NerdWallet | Best for equipment loans | $150,000 | 600 | Undisclosed | 5 years | with Fundera by NerdWallet | |
AltLINE - Invoice factoring Read reviewwith Fundera by NerdWallet | Best for B2B companies | $5,000,000 | 300 | Undisclosed | 3 months | with Fundera by NerdWallet |
A closer look at our picks for the best small business loans
Best for borrowers with bad credit
Small-business lenders often look at a borrower’s personal credit score as an indicator of how likely it is that they’ll pay back a loan. That’s why it can be tricky to get funding with 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
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Pros
- Cash can be available quickly.
- Get a discount for prepaying.
- No collateral required.
- Low minimum credit score requirement.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Can’t build business credit.
- Longest loan term is 18 months.
- Charges an origination fee.
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Best for fast draws
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. Like credit cards, a business line of credit allows you to tap into a reservoir of cash to meet short-term needs, up to a limit.
Bluevine - Line of credit
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Pros
- Cash can be available within 12 to 24 hours.
- Can be used to build business credit.
- Low minimum credit score requirement.
Cons
- Requires weekly payments.
- Not available in North Dakota, South Dakota or Nevada.
- Rates can be high compared with traditional lenders.
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Best for long-term financing
Fast business loans often come with short repayment terms and frequent payment schedules. However, iBusiness Funding (formerly Funding Circle) can approve business loans in as fast as 48 hours, with repayment terms up to seven years. Longer repayment terms often come with smaller payment amounts, which can ease the burden on your business’s cash flow, especially if you are financing a large purchase.
iBusiness Funding - Online term loan
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Pros
- Cash can be available within two business days.
- Competitive rates among online lenders.
- Terms up to seven years.
- iBusiness Funding also offers SBA loans up to $5 million.
Cons
- Charges an origination fee.
- Must be in business for a minimum of 24 months.
- Minimum credit score is higher than some other lenders.
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Best for startups
Headway Capital’s line of credit can provide funding within one business day of approval. It only requires six months in business and just $50,000 in annual revenue, making it a good option for newer businesses.
Headway Capital - Line of credit
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Pros
- Flexible qualification requirements.
- No prepayment penalties.
- Funds available by next business day after approval.
Cons
- Most borrowers are subject to a 2% draw fee.
- Not available in all U.S. states.
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Best for short-term business loans
OnDeck provides fast short-term small-business loans up to 24 months. You can apply for a loan in minutes and may be able to receive same-day funding in certain states.
OnDeck - Online term loan
with Fundera by NerdWallet
Pros
- Cash can be available within the same business day (does not apply in California or Vermont).
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Cannot fund North Dakota-based businesses.
- Requires frequent (daily or weekly) repayments.
- Interest rates can be high compared with traditional lenders.
- Charges origination fee.
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Best for equipment loans
National Funding lets you borrow up to $150,000 for new or pre-owned equipment in as fast as 24 hours. This makes it a good option for business owners with at least six months in operation who need to cover the cost of expensive equipment, machinery or commercial vehicles quickly.
National Funding - Equipment financing
with Fundera by NerdWallet
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Requires higher annual revenue than other online lenders.
- Misleading website marketing: National Funding offers only short-term loans and equipment financing/leasing.
- Charges an origination fee.
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Best for B2B companies
Invoice factoring allows business-to-business companies to sell unpaid invoices to a factoring company in exchange for cash. Because it doesn’t require you to have a certain credit score, invoice factoring may be a good option for borrowers with bad credit. AltLINE offers invoice factoring with competitive rates and flexible qualification requirements. Funding can be available within 24 to 48 hours.
AltLINE - Invoice factoring
with Fundera by NerdWallet
Pros
- Capital available within 24 to 48 hours.
- No collateral required.
- Manages payment collection from your customers.
- Accepts startups and businesses with bad credit.
Cons
- Fees can become expensive the longer it takes your customers to pay.
- Difficult to compare factoring costs to other types of business loans.
- Charges an origination fee.
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Business loan calculator
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A closer look at our picks for the best fast business loans
Fora Financial: Best for borrowers with bad credit
Bluevine: Best for fast draws
iBusiness Funding: Best for long-term financing
Headway Capital: Best for startups
OnDeck: Best for short-term business loans
National Funding: Best for equipment loans
AltLINE: Best for B2B companies
What is a fast business loan?
Pros and cons of fast business loans
Pros
- Access to capital within a few business days.
- Streamlined application processes; typically minimal documentation required.
- Startups and borrowers with bad credit may qualify.
Cons
- 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).
When to consider a fast business loan
Types of fast business loans
How to apply for a fast business loan




How to compare quick business loan offers
Funding speed | All the loans on our list can provide funding in three business days or faster. You’ll want to make sure any lender you’re considering can process and fund your loan within the timeframe you need. |
Interest rate and APR | Lenders that offer the fastest funding may also have the highest rates and fees. 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 | Before you commit to a loan agreement, compare the amount and frequency of payments to make sure they fit into your budget. A business loan calculatorcan help you estimate your payment amounts. |
Loan term | Fast business lenders may offer shorter repayment terms than traditional loans. Longer loan terms can mean smaller monthly payments, in some cases. A short loan term could mean that you pay less in interest. |
Collateral requirements | Check to see if the lender requires collateral or if offering it will improve your loan terms. In either case, review available assets — such as accounts receivable, equipment and real estate — that can back up the loan. Keep in mind that while collateral can improve your approval chances, appraisals and gathering other information can add to the processing time. |
Prepayment penalty | Look to see if any lenders you’re comparing have prepayment penaltiesthat charge you a fee if you pay the loan off early. These types of fees have the potential to add to the cost of a loan and may prevent you from making the best long-term decision for your business. |
Check online forums and reviews | While individual experiences with small-business lenders vary, it can be a good idea to do a quick online search to see what other borrowers say about the lenders you’re considering. For example, you may be able to read customer reviews and anecdotes from other small-business owners on sites such as Trustpilot or Reddit. |
Alternatives to fast business loans
How Fundera by NerdWallet works
Fill out one simple application
Answer a 3-minute questionnaire about your business to get personalized lending options. It’s free and won’t impact your credit score.
See your business loan options
Compare interest rates and repayment terms to choose the best product for your needs.
Get your loan
If the lender approves you, you’ll sign closing documents in order to receive funds. Some lenders can approve and fund loans within one business day.