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Getting a business loan can be challenging, and several factors — cost, speed, repayment schedule — can play a role in deciding which product is right for you. Let us help you through the process.
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- Min. time in business (low to high)
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- Term length (high to low)
Fora Financial - Online term loan
Best for bad credit
Max loan amount
$1,500,000
Min. credit score
570
Min. annual revenue
$240,000
with NerdWallet Small Business
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.
- 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.
AltLINE - Invoice factoring
Best for B2B businesses
Max loan amount
$5,000,000
Min. credit score
300
Min. annual revenue
Undisclosed
with NerdWallet Small Business
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.
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).
- No minimum time in business requirement.
- No minimum annual revenue requirement.
- Must be a B2B business.
Bluevine - Line of credit
Best for same-day funding
Max loan amount
$200,000
Min. credit score
625
Min. annual revenue
$120,000
with NerdWallet Small Business
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.
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.
- Minimum credit score: 625.
- Minimum time in business: 12 months.
- Minimum annual revenue: $120,000.
- No bankruptcies in the past year.
SBA Economic Injury Disaster Loan
Best for low interest rates
Max loan amount
$2,000,000
Min. credit score
Undisclosed
Min. annual revenue
Undisclosed
Pros
- Large loan amounts and long repayment terms.
- Interest rates max out at 4%.
- No prepayment penalties.
Cons
- Collateral required for loans over $25,000.
- 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.
- Must be unable to obtain credit elsewhere.
OnDeck - Online term loan
Best for short-term business loans
Max loan amount
$400,000
Min. credit score
625
Min. annual revenue
$100,000
with NerdWallet Small Business
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.
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.
- Minimum credit score: 625.
- Minimum time in business: 12 months.
- Minimum annual revenue: $100,000.
- Must have business bank account.
Rapid Finance - Merchant cash advance
Best for merchant cash advances
Max loan amount
$500,000
Min. credit score
600
Min. annual revenue
$120,000
with NerdWallet Small Business
Pros
- No prepayment penalties or other 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.
- Minimum credit score: 600.
- Minimum time in business: Three years.
- Minimum revenue requirement: $10,000 per month.
emergency business loans: More details
Fora Financial: Best for bad credit
Funding speed: 24 to 48 hours.
Fora Financial - Online term loan
with NerdWallet Small Business
Max loan amount
$1,500,000
Min. credit score
570
Term length
4 to 18 months
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.
- 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.
AltLINE: Best for B2B businesses
Funding speed: Typically within 48 hours — no collateral required.
AltLINE - Invoice factoring
with NerdWallet Small Business
Max loan amount
$5,000,000
Min. credit score
300
Term length
1 to 3 months
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.
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).
- No minimum time in business requirement.
- No minimum annual revenue requirement.
- Must be a B2B business.
Bluevine: Best for same-day funding
Funding speed: As fast as the same day, with a wire transfer.
May fund quickly
Bluevine - Line of credit
with NerdWallet Small Business
Max loan amount
$200,000
Min. credit score
625
Term length
6 to 12 months
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.
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.
- Minimum credit score: 625.
- Minimum time in business: 12 months.
- Minimum annual revenue: $120,000.
- No bankruptcies in the past year.
U.S. Small Business Administration: Best for low interest rates
Funding speed: Can take several weeks.
SBA Economic Injury Disaster Loan
Max loan amount
$2,000,000
Min. credit score
Undisclosed
Term length
Up to 30 years
Pros
- Large loan amounts and long repayment terms.
- Interest rates max out at 4%.
- No prepayment penalties.
Cons
- Collateral required for loans over $25,000.
- 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.
- Must be unable to obtain credit elsewhere.
OnDeck: Best for short-term business loans
Funding speed: As soon as the same day.
May fund quickly
OnDeck - Online term loan
with NerdWallet Small Business
Max loan amount
$400,000
Min. credit score
625
Term length
18 to 24 months
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.
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.
- Minimum credit score: 625.
- Minimum time in business: 12 months.
- Minimum annual revenue: $100,000.
- Must have business bank account.
Rapid Finance: Best for merchant cash advances
Funding speed: As fast as 24 hours.
Rapid Finance - Merchant cash advance
with NerdWallet Small Business
Max loan amount
$500,000
Min. credit score
600
Term length
3 to 18 months
Pros
- No prepayment penalties or other 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.
- Minimum credit score: 600.
- Minimum time in business: Three years.
- Minimum revenue requirement: $10,000 per month.
What is an emergency business loan?
An emergency business loan is a short-term loan used to address unexpected expenses or gaps in cash flow that arise from emergencies or disasters. Online lenders typically offer the fastest business loans for emergency situations; however, 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.
You might use an emergency business loan to:
- Repair physical damage to your business location.
- Restore or restock damaged inventory.
- Replace broken or damaged equipment.
- Cover essential expenses when you experience a seasonal slow down, change in operations or have to close your business during an emergency.
- Cover loss of revenue or additional expenses associated with losing a key employee.
Types of emergency business loans
Here are some of the most common types of emergency small-business loans:
SBA disaster loans
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:
- Home and personal property loans. Replace or repair your home or personal property after a disaster.
- 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 typically meet if not for a disaster.
- Military reservist injury loans. Help businesses meet operating expenses because an essential employee was called to active duty.
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
[1]
If you can qualify, these government emergency business loans offer low interest rates and long repayment terms. You can apply online through the SBA website, but keep in mind that the process may take several weeks
[2]
Business term loans
A business term loan is a lump sum of capital that you pay back on a fixed schedule, with interest, over a predetermined 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 applications 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
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 funding 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.
Invoice factoring
Invoice factoring can help business owners who need emergency funding by giving them access to capital tied up in unpaid invoices.
With invoice factoring, you sell your outstanding invoices to a factoring company at a discount. The company pays you a percentage of the invoice upfront and assumes responsibility for collecting the payment from your customer. Once your customer repays the factoring company, you receive the remaining invoice amount, minus the company’s fees.
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, but can be expensive — especially if your customers are late to repay their invoices.
Merchant cash advances
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 can 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. These products 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.
How to get an emergency business loan
1. Evaluate your financing needs.
Start by thinking about how much financing you need, how much debt you can afford and consider what type of business loan would be best for your emergency situation.
It may also be helpful to draft a plan that details exactly how you plan to use your capital — that way, you know how these funds will help address your immediate needs and how your business can 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 you can consider common underwriting criteria — time in business, annual revenue, personal credit score — to know where you stand before applying.
You might also think about your cash flow and available collateral. If you’re considering an SBA disaster loan, you should confirm that your business falls into 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 be helpful 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.
🤓
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.Nerdy Tip
4. Complete and submit your application.
The application process varies based on the lender, but if you opt for an online lender, the process should be fairly straightforward. Along with a simple application, you’ll typically provide basic documentation, such as business and personal bank statements and tax returns, as well as business financial statements. The lender will likely require you to sign a personal guarantee as well.
How to compare emergency business loans
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 providers 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 capital 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 for them. Be wary of predatory lenders that may try to take advantage of you when you’re in need of quick funding. 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 the nature of the 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 difficult for businesses to keep up with payments.
- Exploitative or 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 capital 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’re not diligent about making payments.
- Personal loans. It is possible to take out a personal loan instead of a business loan to access much-needed capital for your small business. 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 your business is experiencing an emergency situation and you already have a business loan, you may be worried about whether you'll be able to make your current loan payments. You can ask your lender to temporarily pause your loan payments due to unforeseen financial hardship. Use our script to help you make that request.
Frequently asked questions
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 when you need fast cash during a crisis.
Bank loans usually have detailed applications and are slow to fund. Plus, bank lenders will require that you meet top criteria to qualify.
Some online lenders may be willing to issue emergency business loans to borrowers with bad credit. As a result, however, these lenders will typically charge higher interest rates and offer shorter repayment terms.
Although you may be able to qualify, you should think carefully about 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 content management specialist, contributed to this article.
Last updated on October 20, 2025
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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.
Methodology
NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer small-business friendly features, including:
- Transparency of rates and terms.
- Flexible payment options.
- Fast funding times.
- Accessible customer service.
- Reporting of payments to business credit bureaus.
- Responsible lending practices.
We weigh these factors based on our assessment of which are the most important to small-business owners and how meaningfully they impact borrowers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodology for small-business loans and our editorial guidelines.
