Fast Small-Business Loans: Best Options for Quick Cash

Small Business, Small Business Loans
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Business loans for fast cash

Funding options
Speed of funding
Min. credit score
Kabbage_Logo_150x40Apply now
As fast as a few minutes.
None
More on qualifying.
Apply now
As fast as one day.
None
More on qualifying.
Lending Club

Apply now
As fast as two days.
600
StreetShares loansApply now
As fast as one day.
600

Term loan
Apply now
As fast as one day.
500

Seven days on average.
650

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 just can’t afford to wait for funding. You need fast business loans, which probably means you’re willing to pay more for the speed and convenience that online lenders offer and that you won’t get working with a bank.

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.

HERE ARE OUR RECOMMENDATIONS FOR:

Fast cash for immediate needs

Fast cash for a business opportunity

Fast business loans: Summary of options

Fast business loans for immediate needs

For businesses that need cash as fast as possible: Kabbage and Fundbox

Kabbage and Fundbox provide fast cash to deal with immediate needs, such as meeting payroll, buying inventory or fixing broken equipment. Both lenders are an option for bad credit borrowers, as no minimum credit score is required.

Consider Kabbage if you need funding up to $150,000. You can complete Kabbage’s online application in minutes and get funding just as fast or within a few days. Your business needs a year of history and at least $50,000 in annual revenue to qualify.

Fundbox’s line of credit is an option for financing up to $100,000. Funding is as fast as the next business day. Qualifying may be easier than Kabbage, as you’ll need a minimum of $25,000 revenue and six months in business to qualify. Your rate may also be lower than Kabbage, with APRs ranging from 15% to 59%.

Kabbage_Logo_150x40
  • Loan amount: $2,000 to $150,000
  • APR: 24% to 99%
  • Loan term: Six or 12 months
  • Funding time: A few minutes to several days
  • Read our Kabbage review
Apply now at Kabbage

fundbox
  • Loan amount: $1,000 to $100,000
  • APR: 15% to 59%
  • Loan term: 12 weeks
  • Funding time: As fast as next business day
  • Read our Fundbox review
Apply now At Fundbox

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Fast business loans for an opportunity

For businesses that are at least a year old: StreetShares and OnDeck

Small businesses have many choices when looking to finance fast expansion or growth.

Consider StreetShares if your business is newer and you’re not seeking to borrow a lot of money. Funding is between one to five days. The company requires a minimum of one year in business, a personal credit score starting at 600 and at least $25,000 in annual revenue.

OnDeck’s funding turnaround can be as fast as a single day, though more often it takes several days. However, your rates will likely be higher than at StreetShares. To qualify, you need at least a 500 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.

StreetShares-e1459274893272
  • Loan amount: $2,000 to $100,000 (maximum 20% of your annual revenue)
  • APR: 9% to 40%
  • Loan term: Three to 36 months
  • Funding time: One to five days
  • Read our StreetShares review
Apply now at StreetShares
OnDeck_logo_2017
  • Loan amount: $5,000 to $500,000
  • APR: 9% to 99%
  • Loan term: Repaid daily or weekly for three to 36 months
  • Funding time: As fast as 24 hours but typically a few days
  • Read our OnDeck review
Apply now at OnDeck

If you have a strong business and want lower rates: Lending Club and CREDIBILITY CAPITAL

Lending Club and Credibility Capital both offer term loans that come with lower rates than OnDeck, and higher borrowing amounts than StreetShares.  However, these lenders also carry stricter qualifications and it may take a little bit longer to get funded.

At Lending Club, time to funding can be as fast as two days but typically takes one to two weeks. You’ll need at least a 600 personal credit score, $50,000 in annual revenue and one year in business to qualify.  

Funding at Credibility Capital takes an average of seven days. Besides at least 18 months in business, you’ll also need a higher minimum credit score (650) and minimum annual revenue ($150,000) than at Lending Club. The lender is also currently unavailable to borrowers in Nevada, North Dakota, South Dakota, and Vermont.

 

LendingClub-box
  • Loan amount: $5,000 to $300,000
  • APR: 9.8% to 35.7%
  • Loan term: One to five years
  • Funding time: As fast as two days but typically one to two weeks
  • Read our Lending Club review.
Apply now at Lending Club
credibilitycapitallogo
  • Loan amount: $10,000 to $350,000
  • APR: 10% to 25%
  • Loan term: One, two or three years
  • Funding time: Seven days on average
  • Read our Credibility Capital review
Apply now at Credibility Capital


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Summary of options: Fast business loans

Funding optionsSpeed of funding Do you qualify?Loan amount & APR
Kabbage_Logo_150x40
Apply now at Kabbage
A few minutes to several days
  • No minimum credit score
  • At least one year in business
  • $50,000+ annual revenue
  • $2,000 to $150,000
  • 24% to 99%
fundbox

Apply now at Fundbox
As fast as the next day
  • No minimum credit score
  • At least six months in business
  • $25,000+ annual revenue
  • $1,000 to $100,000
  • 15% to 59%
Street Shares

Apply now at StreetShares
One to five days
  • 600+ personal credit score
  • At least one year in business
  • $25,000+ annual revenue
  • $2,000 to $100,000
  • 9% to 40%
ondeck

Term loan


Apply now at OnDeck
As fast as 24 hours but typically in a few days to a week
  • 500+ personal credit score
  • At least one year in business
  • $100,000+ annual revenue
  • $5,000 to $500,000
  • 9% to 99%
lending_club_logo_new-249x47
Apply now at Lending Club
As fast as two days but typically one to two weeks
  • 600+ personal credit score
  • At least one year in business
  • $50,000+ annual revenue
  • $5,000 to $300,000
  • 9.8% to 35.7%


Apply now at Credibility Capital
As fast as three days, but seven days on average
  • 650+ personal credit score
  • 18+ months in business
  • $150,000+ annual revenue
  • $10,000 to $350,000
  • 10% to 25%

Want to compare more small-business loan options?

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.

Steve Nicastro is a staff writer at NerdWallet, a personal finance website. Email: Steven.N@nerdwallet.com. Twitter: @StevenNicastro.

Updated Nov. 15, 2017.