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Best Short-Term Business Loans of July 2022

Online lenders provide short-term business loans starting at three months. Compare options for good- and bad-credit borrowers.
Written by Steve Nicastro
Edited by Kimberly Lowe
Last updated on December 15, 2021

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Short-term business loans can give your business the fast cash it needs to bridge cash-flow gaps, handle emergencies and other immediate financing needs, or take advantage of a business opportunity.
Think of them as quick-turnaround loans: Borrow what you can pay back relatively quickly so you can focus on running your business rather than managing debt.
Here are short-term financing options from online business lenders. We always recommend comparing small-business loans from multiple loan providers.

How much do you need?

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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 5 short-term business loans options for you

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Lender
Best for
Max loan amount
Min. credit score
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Kabbage - Line of credit

on Kabbage's website

Best for Short-term lines of credit$250,000640

on Kabbage's website

Bluevine - Line of credit

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Best for Short-term lines of credit$250,000625

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Fundbox - Line of credit

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Best for Short-term lines of credit$150,000600

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OnDeck - Online term loan

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Best for Short-term business loans for fast cash$250,000600

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Credibility Capital - Online term loan

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Best for Short-term business loans for low rates$500,000650

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Our picks for

Short-term lines of credit

Read Review

on Kabbage's website

Kabbage - Line of credit

Read Review

on Kabbage's website

Max Loan Amount

$250,000

Min. Credit Score

640

Kabbage loans are a good option for business owners with fair credit who want quick access to working capital.
Read Review

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Bluevine - Line of credit

Read Review

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Max Loan Amount

$250,000

Min. Credit Score

625

Est. APR

15.00-78.00%

Depending on your creditworthiness and your business's financials

Bluevine's line of credit provides fast working capital for short-term borrowing needs.
May fund quickly
Read Review

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Fundbox - Line of credit

Read Review

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Max Loan Amount

$150,000

Min. Credit Score

600

Est. APR

10.10-79.80%

Depending on your creditworthiness and your business's financials

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

Our pick for

Short-term business loans for fast cash

Business loans are term loans that provide a lump of cash upfront, repaid over a set period of time with fixed, equal payments.

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OnDeck - Online term loan

Read Review

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Max Loan Amount

$250,000

Min. Credit Score

600

Est. APR

9.00-99.00%

Depending on your creditworthiness and your business's financials

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

Our pick for

Short-term business loans for low rates

Read Review

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Credibility Capital - Online term loan

Read Review

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Max Loan Amount

$500,000

Min. Credit Score

650

Est. APR

6.99-24.99%

Depending on your creditworthiness and your business's financials

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

How Much Do You Need?

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How do short-term business loans work?

Short-term loans for businesses are term loans with short repayment periods, typically ranging from three months to three years.
Because you have a shorter repayment period, your monthly payment (which includes interest and any fees) will be higher than a long-term business loan, which can have repayment terms of up to 25 years in some cases.

Pitfalls of short-term loans

While short-term business loans provide fast cash, they do come with some disadvantages, including:
  • Higher cost: Short-term business loans typically carry a higher annual percentage rate, or APR, than long-term loans. Use NerdWallet’s business loan calculator to figure out how much a loan will cost you.
  • More frequent repayments: Some lenders require payments daily or weekly as opposed to monthly. Although these payments are smaller, their frequency can be an issue for businesses that have uneven sales or don’t always hold much cash in a bank account.
  • Risk of debt trap: The speed and ease of short-term business loans can become addictive. Instead of repaying the debt in full, business owners may be enticed to refinance and roll over the debt into a new loan.

Compare small-business loans

NerdWallet has created a comparison tool of the best small-business loans to meet your needs and goals. We gauged factors including lender trustworthiness, market scope and user experience, and arranged them by categories that include revenue and how long you’ve been in business.
Last updated on December 15, 2021

To recap our selections...

Best Short-Term Business Loans of July 2022

Frequently Asked Questions