Emergency Business Loans: How to Get Urgent Funding
The best emergency business loans offer fast funding, flexible qualification requirements, quick applications and affordable rates.
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Written by
Randa Kriss
Senior Writer & Content Strategist | Small business, business banking, business loans
Expertise
Small business
Business lending
Business banking
Randa Kriss is a senior writer and NerdWallet authority on small business. She has nearly a decade of experience in digital content. Prior to joining NerdWallet in 2020, Randa worked as a writer at Fundera, covering a wide variety of small-business topics and specializing in the lending and banking spaces. Her work has been featured by The Washington Post, The Associated Press and Nasdaq, among others. Randa earned a bachelor's degree in English and Spanish at Iona University (formerly Iona College).
Sally Lauckner has over a decade of experience in print and online journalism. Before joining NerdWallet, Sally was the editorial director at Fundera, where she built and led a team focused on small-business content. Her prior experience includes two years as a senior editor at SmartAsset, where she edited a wide range of personal finance content, and five years at the AOL Huffington Post Media Group, where she held a variety of editorial roles. She has a master's in journalism from New York University and a bachelor's in English and history from Columbia University. Email: slauckner@nerdwallet.com.
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Sally Lauckner has over a decade of experience in print and online journalism. Before joining NerdWallet, Sally was the editorial director at Fundera, where she built and led a team focused on small-business content. Her prior experience includes two years as a senior editor at SmartAsset, where she edited a wide range of personal finance content, and five years at the AOL Huffington Post Media Group, where she held a variety of editorial roles. She has a master's in journalism from New York University and a bachelor's in English and history from Columbia University. Email: slauckner@nerdwallet.com.
NerdWallet's content is
fact-checked for accuracy, timeliness, and relevance by humans.
It undergoes a thorough review process involving writers and editors to
ensure the information is as clear and complete as possible. Learn more
by checking our
Editorial Guidelines.
Content was accurate at the time of publication.
250+ small-business products reviewed and rated by our team of experts.
80+ years of combined experience covering small business and personal finance.
50+ categories of the best business loan selections.
NerdWallet's small-business loans content, including ratings, recommendations and reviews, is overseen by a team of writers and editors who specialize in business lending. Their work has appeared in The Associated Press, The Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity to ensure accuracy and fairness in our coverage.
You're our first priority.
Every time.
We believe everyone should be able to make financial decisions with
confidence. While we don’t cover every company or financial product on
the market, we work hard to share a wide range of offers and objective
editorial perspectives.
So how do we make money? Our partners compensate us for
advertisements that appear on our site or when you click to or take an
action on their website. This compensation helps us provide tools and
services - like free credit score access and monitoring. With the
exception of mortgage, home equity and other home-lending products or
services, partner compensation is one of several factors that may
affect which products we highlight and where they appear on our site.
Other factors include your credit profile, product availability and
proprietary website methodologies.
However, these factors do not influence our editors’ opinions or ratings, which are based on independent research and analysis. Our partners cannot
pay us to guarantee favorable reviews. Here is a list of our partners.
Select your business type to get personalized loan recommendations:
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates responsible lending practices, cost, impact on business credit score, transparency and customer experience.
Not available in North Dakota, South Dakota or Nevada.
Rates can be high compared with traditional lenders.
Bluevine stands out for its fast funding speed and flexible qualification requirements. To get a line of credit, you can apply quickly online and receive funding in as little as 24 hours. Newer businesses and borrowers with bad credit may be able to qualify. Bluevine also offers a larger credit line maximum compared to some competitors and doesn’t charge draw or account maintenance fees.
Can be approved with a credit score as low as 600.
Cons
Daily or weekly payments.
Lengthy time in business requirement.
Rapid Finance can provide fast merchant cash advances for established businesses that might have lower credit scores. You can get large amounts of funding in as little as 24 hours. And, unlike some competitors that charge origination or monthly service fees, Rapid Finance doesn’t have any extraneous fees on your financing.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates responsible lending practices, cost, impact on business credit score, transparency and customer experience.
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.
If you’re a business-to-business company with capital tied up in unpaid invoices, altLINE can provide fast access to cash. The lender offers competitive factoring rates and can factor large invoice amounts. AltLINE stands out for its flexible underwriting process that focuses heavily on the creditworthiness of your customers, as opposed to more traditional business loan requirements. This makes it a worthwhile option for startups or borrowers with bad credit.
All credit scores may be accepted (ranging from 300 to 850).
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates responsible lending practices, cost, impact on business credit score, transparency and customer experience.
Charges a factor rate that makes it more difficult to compare costs with other lenders.
Can’t build business credit.
Aggressive repayment schedule (daily or weekly).
Charges an origination fee.
Fora Financial stands out as a fast funding option for borrowers who may fall short of qualifying for traditional bank financing. The lender can work with startups and borrowers with bad credit — as long as they have strong revenue. Fora offers large maximum loan amounts and can provide prepayment discounts for those who repay early.
In business for at least six months.
At least $20,000 per month in revenue.
No open bankruptcies or dismissed bankruptcies within the past year.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates responsible lending practices, cost, impact on business credit score, transparency and customer experience.
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.
OnDeck’s short-term loan is a good option for making one-time investments in your business, such as opening a new location or renovating your space. This loan offers fast funding (sometimes as quickly as the same day) for borrowers who may not qualify for more traditional financing options. OnDeck’s short-term loan can also be used to establish and build business credit — as the lender reports your payment history to the three commercial credit bureaus.
Only available for businesses located in a declared disaster area.
Can be slow to fund.
SBA Economic Injury Disaster Loans (EIDLs) provide working capital to small businesses that can’t pay for their typical operating expenses as the result of a disaster. These loans are a good option for emergency funding, offering low interest rates, large funding amounts and long repayment terms. Although you’ll still need to meet specific disaster-related requirements, it may also be easier to qualify for EIDLs compared to standard SBA loans.
Must be located in a declared disaster zone.
Must show that you’ve suffered economic injury as the result of a relevant disaster.
Must be a small business, small agricultural cooperative or private nonprofit organization.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates responsible lending practices, cost, impact on business credit score, transparency and customer experience.
Not available in North Dakota, South Dakota or Nevada.
Rates can be high compared with traditional lenders.
Bluevine stands out for its fast funding speed and flexible qualification requirements. To get a line of credit, you can apply quickly online and receive funding in as little as 24 hours. Newer businesses and borrowers with bad credit may be able to qualify. Bluevine also offers a larger credit line maximum compared to some competitors and doesn’t charge draw or account maintenance fees.
Can be approved with a credit score as low as 600.
Cons
Daily or weekly payments.
Lengthy time in business requirement.
Rapid Finance can provide fast merchant cash advances for established businesses that might have lower credit scores. You can get large amounts of funding in as little as 24 hours. And, unlike some competitors that charge origination or monthly service fees, Rapid Finance doesn’t have any extraneous fees on your financing.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates responsible lending practices, cost, impact on business credit score, transparency and customer experience.
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.
If you’re a business-to-business company with capital tied up in unpaid invoices, altLINE can provide fast access to cash. The lender offers competitive factoring rates and can factor large invoice amounts. AltLINE stands out for its flexible underwriting process that focuses heavily on the creditworthiness of your customers, as opposed to more traditional business loan requirements. This makes it a worthwhile option for startups or borrowers with bad credit.
All credit scores may be accepted (ranging from 300 to 850).
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates responsible lending practices, cost, impact on business credit score, transparency and customer experience.
Charges a factor rate that makes it more difficult to compare costs with other lenders.
Can’t build business credit.
Aggressive repayment schedule (daily or weekly).
Charges an origination fee.
Fora Financial stands out as a fast funding option for borrowers who may fall short of qualifying for traditional bank financing. The lender can work with startups and borrowers with bad credit — as long as they have strong revenue. Fora offers large maximum loan amounts and can provide prepayment discounts for those who repay early.
In business for at least six months.
At least $20,000 per month in revenue.
No open bankruptcies or dismissed bankruptcies within the past year.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates responsible lending practices, cost, impact on business credit score, transparency and customer experience.
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.
OnDeck’s short-term loan is a good option for making one-time investments in your business, such as opening a new location or renovating your space. This loan offers fast funding (sometimes as quickly as the same day) for borrowers who may not qualify for more traditional financing options. OnDeck’s short-term loan can also be used to establish and build business credit — as the lender reports your payment history to the three commercial credit bureaus.
Only available for businesses located in a declared disaster area.
Can be slow to fund.
SBA Economic Injury Disaster Loans (EIDLs) provide working capital to small businesses that can’t pay for their typical operating expenses as the result of a disaster. These loans are a good option for emergency funding, offering low interest rates, large funding amounts and long repayment terms. Although you’ll still need to meet specific disaster-related requirements, it may also be easier to qualify for EIDLs compared to standard SBA loans.
Must be located in a declared disaster zone.
Must show that you’ve suffered economic injury as the result of a relevant disaster.
Must be a small business, small agricultural cooperative or private nonprofit organization.
An emergency business loan is short-term financing that helps you cover unexpected expenses or cash flow gaps caused by emergencies or disasters. Online lenders typically offer the fastest business loans for these situations, but they can come with high interest rates and fees. The SBA also offers disaster loans for small businesses — and while interest rates are lower, businesses must have been impacted by a declared disaster to qualify.
🤓
Nerdy Tip
Before you borrow, figure out how long your business can wait for funding. Emergency business loans fund quickly, but they come with high rates. If you can wait a few weeks (or longer) and can qualify, a bank or credit union will likely offer better rates and terms.
» MORE: Best banks for small-business loans
You might use an emergency business loan to:
Repair damage to your business location.
Restore or restock damaged inventory.
Replace broken or damaged equipment.
Cover essential expenses during a seasonal slowdown, change in operations or when you have to close your business during an emergency.
Make up for lost revenue or extra costs after losing a key employee.
Here are some of the most common types of emergency small-business loans:
SBA disaster loans
Best for: Business owners in a declared disaster area who can wait at least two weeks for funding.
The federal government offers emergency business loans through the U.S. Small Business Administration. The SBA disaster loan program includes four types of loans to accommodate different scenarios:
Business physical disaster loans. Replace or repair business property, such as machinery, equipment, fixtures or inventory, after a disaster.
Economic injury disaster loans. Help businesses meet financial obligations and operating expenses that they could no longer cover due to a disaster.
Military reservists economic injury disaster loans. Help businesses meet operating expenses because an essential employee was called to active duty.
Home and personal property loans. Replace or repair your home or personal property after a disaster.
With the exception of the military reservist injury loan, you can only apply for an SBA disaster loan if your business is located in a declared disaster zone
U.S. Small Business Administration. Disaster recovery. Accessed Oct 28, 2026.
.
If you can qualify, these government emergency business loans offer low interest rates and long repayment terms, with the ability to defer payments and interest for up to the first 12 months. You can apply online through the SBA website, but keep in mind that the process may take several weeks
Best for: A one-time, specific emergency expense, like replacing broken equipment.
A business term loan is a lump sum of money you pay back on a fixed schedule, with interest, over a set period. A term loan is a good option for emergency financing when you need to pay for a one-time, specific expense, such as replacing broken equipment or damaged pipes.
Business term loans are available from both traditional lenders (banks and credit unions) and online lenders. If you need an emergency business loan, however, online lenders generally have streamlined applications, more flexible qualification requirements and the ability to fund faster than traditional lenders. Some can fund within the same day — and most within a few business days. As a result, though, online emergency business loans will typically be short-term loans that have higher interest rates.
Business lines of credit
Best for: Ongoing or unpredictable cash needs.
A business line of credit allows you to draw from a set limit of funds and only pay interest on the portion of money you borrow. Business lines of credit are one of the most flexible types of business financing — making them a good option for emergency working capital needs.
Like term loans, business lines of credit are available from both traditional and online lenders. Banks will typically have the lowest interest rates on credit lines, but online lenders can offer fast approval and flexible eligibility criteria.
Business lines of credit may have lower maximum funding amounts than term loans — but often have revolving terms. This means you can continue to draw on the line as long as you make your payments on time and don’t exceed your credit limit.
🤓
Nerdy Tip
Consider opening a business line of credit before you need it. Once set up, you can draw funds quickly (typically within hours to a few days). This makes it ideal in an emergency scenario. And if you can qualify for a bank line of credit, even better.
Invoice factoring
Best for: B2B companies with lots of unpaid invoices.
Invoice factoring can help B2B owners quickly access cash tied up in unpaid invoices.
With invoice factoring, you sell your outstanding invoices to a factoring company at a discount.
Here’s how it works:
The company pays you a percentage of the invoice upfront.
It then collects payment from your customer.
You receive the remaining invoice amount (minus the company’s fees) after the customer pays the factoring company.
Invoice factoring is generally available from online lenders or fintech companies. Because factoring companies prioritize the value of your invoices and your customers’ payment history, this emergency business loan can be easy to qualify for and fast to fund. The downside is that invoice factoring can be expensive — especially if your customers are late to repay their invoices (or they don’t pay at all).
Merchant cash advances
Best for: A last resort for business owners with lots of card transactions.
With a merchant cash advance (MCA), a company provides you with a lump sum of cash that you repay using a percentage of your daily or weekly debit and credit card sales, plus fees.
Merchant cash advances are typically fast to fund — sometimes as quickly as 24 hours — and easy to qualify for. Many MCA providers work with startups and businesses with bad credit and require minimal documentation during the application process.
❗ MCAs are also one of the most expensive types of business financing. They can have annual percentage rates that reach as high as 350% — making it difficult for business owners to repay what they’ve borrowed.
Generally, you should consider all other loan options before a merchant cash advance — even if your business is dealing with an emergency.
It may also be helpful to come up with a plan for exactly how you’ll use the borrowed money and pay it back. That way, you know how these funds will help address your immediate needs and how your business can rebound and grow in the future.
2. Check your qualifications.
The best type of emergency business loan for your business will also depend on what you can qualify for. Specific business loan requirements vary by lender, but they’ll generally look at the following when considering your application:
Your personal credit score.
How long you’ve been in business.
How much revenue your business brings in.
Any outstanding debts or past bankruptcies.
Available collateral.
If you’re considering an SBA disaster loan, you should confirm that your business falls within a declared disaster area — and check that you meet any additional SBA loan qualifications.
3. Research and compare lenders.
As you research lenders, consider factors such as interest rates, repayment terms, loan amounts, funding speed, application process and lender reputation.
It can help to read reviews of lenders online or talk to former customers to verify a lender’s reputation. Keep in mind that fast funding can often result in higher interest rates. You’ll want to make sure that you can afford any debt that you take on.
🤓
Nerdy Tip
In some cases, paying a little more for faster access to the funds you need can be worth it. But be sure that you’re not taking on high-interest debt that will actually make it more difficult for your business to recover in the long run. Use our business loan calculator to estimate your emergency business loan rates and payments.
4. Complete and submit your application.
The application process varies by lender, but if you opt for an online lender, the process should be fairly straightforward. Some online lenders even claim you can apply in minutes.
Along with a simple application, you’ll typically provide basic documentation, such as:
Business and personal bank statements.
Business and personal tax returns.
Business financial statements.
You’ll likely have to sign a personal guarantee as well. This means that if your business can’t repay the loan, you might have to tap into your personal savings or assets to cover the balance.
Consider these factors to determine which emergency loan is right for your business’s needs:
💼 Loan type. The right type of loan will depend on the kind of emergency your business has experienced and why you need funding. If, for example, you need to cover daily expenses during a slow period, you might opt for a working capital line of credit. On the other hand, you might choose equipment financing to replace broken or damaged equipment.
📈 Interest rates. Business loan rates can vary based on the lender, loan type and your qualifications. Because emergency business loans are often fast to fund, however, interest rates may be higher than other loan options. Compare rates from multiple lenders to find the best offer — and make sure you can afford any debt you take on.
⏱️ Funding speed. When your business experiences a disaster, you usually need money quickly. Some online lenders can offer same-day business loans. As you explore different options, talk to lenders about their process and timeline, so you know when you can expect your funds.
🗓️ Repayment terms. Emergency business loans often have short repayment terms. You’ll want to make sure that you can manage potential payments (especially if they’re daily or weekly) based on your existing budget.
🤝 Lender reputation. Reading online reviews can give you a better sense of a lender’s reputation and what it’s like to work with them. Watch out for predatory lenders that may try to take advantage of you when you’re desperate. These lenders may promise “guaranteed approval” or similar terms that seem too good to be true.
Pros and cons of emergency business loans
Pros
Can typically be approved and funded quickly, depending on your situation.
Federally backed funding (available in declared disaster areas) offers competitive rates and terms.
Cons
Can have high interest rates and short repayment terms, which can make it hard to keep up with payments.
Predatory lenders may try to take advantage of businesses seeking emergency funding.
Emergency business loan alternatives
An emergency business loan may not be the right choice if your need for funding isn’t immediate — especially if you can qualify for more competitive rates and terms by waiting.
There may also be instances where taking on debt will actually harm your financial situation instead of helping, even through a disaster. In those cases, consider these alternative financing options:
Business credit cards. If you’re looking for a quick and revolving source of financing to cover cash flow gaps, business credit cards can be a good option. Many business credit cards require good credit — a score of 690 or higher — to qualify. They can provide benefits like flexibility and spending rewards, but business credit cards can also become expensive if you don’t pay them in full each month.
Personal loans. It’s possible to take out a personal loan instead of a business loan. Personal loans can be easier to qualify for, particularly if you don’t have enough time in business or revenue to qualify for a business loan, and personal loans may fund faster than some business loans.
Self-funding. If you have a business emergency fund or other money in savings, this may be the time to use it. Just be sure you have a plan to build your savings back up so you’re not vulnerable in the event of future emergencies or opportunities.
Worried you can't make your current loan payments?
If an emergency has put your business in a tight spot, you may be wondering how you’ll cover current loan payments. Your lender may be willing to pause or reduce payments for a while, especially if your hardship isn’t expected to last long. Use our script to help make the ask.
Many banks can offer business loans to help cover unexpected expenses. Although bank loans typically have low interest rates and long repayment terms, they may not be your best option if you need fast cash during a crisis.
Bank loans usually have detailed applications and take weeks to fund. Plus, banks tend to have strict requirements, so qualifying can be tough. For example, many banks require a personal credit score of at least 700.
Some online lenders may be willing to issue emergency business loans to borrowers with bad credit. For example, Fora Financial may approve borrowers with a credit score as low as 570. But there’s a catch. Online lenders typically charge higher interest rates and offer shorter repayment terms.
Think carefully and consider your options before taking on a high interest rate loan that can be difficult to repay — especially if your business is already dealing with a crisis.
Karrin Sehmbi, a NerdWallet editor and content strategist, contributed to this article.
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