Advertiser Disclosure

Fast Business Loans: Top Lenders for Quick Cash

Aug. 28, 2019
Small Business, Small Business Loans
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Small-business loans for fast cash

Funding options
Speed of funding
Min. credit score
Apply now
As fast as one day
None
Learn more
Apply now
As fast as one day
550
Kabbage_Logo_150x40Apply now
As fast as a few minutes
560
Learn more

Term loan
Apply now
As fast as one day
600
StreetShares loansApply now
As fast as one day
600

As fast as three days
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 needs funding in a matter of days, not weeks or months. 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 TOP LENDERS FOR:

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 APRs 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

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

Consider Kabbage if you need funding up to $250,000. You can complete Kabbage’s online application in minutes and get funding just as fast or within a few days. It requires a minimum credit score of 560, and your business needs two years of history and at least $50,000 in annual revenue to qualify.

If you need more than $150,000, QuarterSpot provides loans up to $200,000. The lender requires business owners to have a minimum credit score of 550, with at least two years in business and $200,000 in annual revenue. It can provide funds in as little as 24 hours after approval.

  • Loan amount: $2,000 to $250,000.
  • APR: 24% to 99%.
  • Loan term: 6, 12 or 18 months.
  • Funding time: A few minutes to several days.
  • Read our Kabbage review.
Apply now at Kabbage
  • Loan amount: $5,000 to $250,000.
  • APR: 30% to 70%.
  • Loan term: 6, 9, 12, 15, or 18 months.
  • Approval time: As fast as 24 hours.
  • Read our QuarterSpot review.
Apply now at QuarterSpot


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 and QuarterSpot, as you’ll need a minimum of $50,000 in revenue and three months in business to qualify, with no minimum credit score requirements. Your rate may also be lower than Kabbage and QuarterSpot, with APRs ranging from 10.1% to 79.8%.

Line of Credit

  • Loan amount: $1,000 to $100,000
  • APR: 10.1% to 79.8%
  • Loan term: 12 weeks
  • Funding time: As fast as next business day
  • Read our Fundbox review
Apply now At Fundbox

 

[Back to top]

Fast business loans for an opportunity

For businesses that are at least a year old

StreetShares and OnDeck provide fast business loans to finance growth opportunities, such as launching a marketing campaign or buying new equipment.

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’s term loan requires a minimum of one year in business, a personal credit score starting at 600 and at least $75,000 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 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.

  • Loan amount: $2,000 to $250,000 for term loans; $5,000 to $250,000 for standard line of credit; Up to $5 million for invoice factoring and government contract financing
  • APR: 8% to 39.9%; 1% to 5.5% for select products
  • Loan term: 3 to 36 months
  • Funding time: 0 to 5 days
  • Read our StreetShares review
Apply now at StreetShares

Term Loan

  • Loan amount: $5,000 to $500,000.
  • APR: 9% to 99%.
  • Loan term: Repaid daily or weekly for 3 to 36 months.
  • Funding time: As fast as 24 hours but typically a few days.
  • Read our OnDeck review.

*APRs change quarterly

Apply now at OnDeck

If you have a strong business and want lower rates

Credibility Capital offers term loans that come with lower rates than OnDeck, and higher borrowing amounts than StreetShares. 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.

» MORE: Calculate the costs of a business loan

  • Loan amount: $50,000 to $400,000.
  • 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


[Back to top]

Fast business loans: Summary of options

Funding optionsDo you qualify?Loan amount & APR
Kabbage

Apply now at Kabbage
  • 560+ personal credit score
  • At least one year in business
  • $50,000+ annual revenue
  • $2,000 to $250,000
  • 24% to 99%
QuarterSpot

Apply now at QuarterSpot
  • 550+ personal credit score
  • At least one year in business
  • $200,000+ annual revenue
  • $5,000 to $250,000
  • 30% to 70%
Fundbox

Apply now at Fundbox
  • No minimum credit score
  • At least three months in business
  • $50,000+ annual revenue
  • $1,000 to $100,000
  • 15% to 59%
StreetShares

Apply now at StreetShares
  • 600+ personal credit score
  • At least one year in business
  • $75,000+ annual revenue
  • $2,000 to $250,000
  • 9% to 40%
OnDeck

Term loan


Apply now at OnDeck
  • 600+ personal credit score
  • At least one year in business
  • $100,000+ annual revenue
  • $5,000 to $500,000
  • 9% to 99%

Credibility Capital


Apply now at Credibility Capital
  • 680+ personal credit score
  • 2+ years in business
  • $250,000+ annual revenue
  • $50,000 to $400,000
  • 10% to 25%

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.

About the author