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Fast Business Loans: Best Options For Quick Funding

Cash flow issues and business emergencies can pop up at any time. Luckily, if you need a quick loan for your business, some online lenders can offer funding in just a few days or less. With the right loan, it will be business as usual in no time.

Best Fast Business Loans
Lindsay Frankel
Written by:Lindsay Frankel
Personal Finance Expert

Many or all of the products featured here are from our partners who compensate us. This may affect which companies we write about and where the company appears on a page. However, any analyses, or reviews expressed in this article are those of the author’s alone, and have not been approved or endorsed by any partner.

Getting a loan from a bank typically requires heavy paperwork and a long decision process. But online lenders leverage technology to provide small business loans faster. Whether you’re dealing with a disaster or just a seasonal slump, a fast business loan can help. You can enjoy a quick application and fast funding without leaving home. However, some online lenders are better than others. Our team of experts reviewed and ranked the best online lenders to help you get funded, fast. 

Best Business Acquisition Loans to Consider in 2022

Top Picks for Best Fast Business Loans

In this review we highlight the terms, rates and fees of each lender, and explain what makes them a good option. We also share potential downsides of each lender, and provide a rating methodology you can use to select the best option for your needs.


Best Fast Business Loans for 2023 - Full Overview

Best Overall
Backd business loans

Backd - Best for Cheapest Interest Rates

Factor Rate
Starting at 1.10
Loan Amounts
Up to $2 million
Min. Annual Revenue
Key Features
  • Borrow up to $2 million
  • Min. Credit Score: 640
  • Min. Time in Business: 2 years
  • Industry best factor rate for MCA - as low as 1.10
  • APR for the Line of credit product starts at 35%
  • Flexible repayment terms up to 16 months
  • Get funding in as little as 24 hours
  • Check your rate with a soft credit pull
Pros & Cons
  • Easy online application
  • Fast lending decision and funding times
  • No collateral required
  • Soft pull on credit when applying
  • Flexible payment options
  • Startups will not qualify
  • Must have at least $100,000 in annual revenue
  • Rates not disclosed prior to application

Backd offers working capital loans up to $2 million that can be used for any business expense. It takes just a few minutes to fill out the application and you’ll receive a lending decision almost instantly. If you decide to move forward with the loan, funds can be in your account within 24-48 hours, making them one of the fastest and most convenient ways to secure a large amount of business funding.


Main Features
Backd has funded more than $1 billion to over 10,000 small businesses and counting. They currently offer two different lending products - a working capital loan and a business line of credit. Working capital loans range from $10,000 to $2 million with terms up to 16 months. Payments can be made daily, weekly, or semi-monthly. Business lines of credit range from $10,000 to $750,000 with unlimited terms. With a line of credit, you draw funds anytime, pay them back, and can draw on them again. Neither option requires collateral, but you will need to be in business at least two years have $200,000 or more in annual revenue, and 640 or higher FICO score. The higher your score, and business revenue, the better your rate will be. Other requirements include being based in the U.S. and having a business bank account.

Backd was created to give more small businesses access to the funding they need, and so far, they’ve succeeded. If you’ve been in business at least one year and are in need of a large loan amount - and fast - we recommend Backd as your lender of choice.
Lendzi logo

Lendzi - Best for Businesses With High Revenue

Factor Rate
Starting at 1.10
Loan Amounts
Up to $4 million
Min. Annual Revenue
Key Features
  • Borrow up to $4 million in working capital
  • Min. credit score: at least 500
  • Min. time in business: 6 months
  • Equipment financing up to $2 million
  • Business line of credit up to $250,000
  • See your options without hurting your credit
  • Flexible terms: 3 to 15 months
  • Excellent customer reviews on independent review sites
  • Get funding in as little as 24 hours
Pros & Cons
  • Funding in as little as 24 hours
  • Bad credit accepted
  • Application takes just a few minutes to fill out
  • Excellent customer reviews
  • Multiple loans and lenders to choose from
  • Startups may not qualify
  • Income requirements can be high

Lendzi is our top pick for fast loans for businesses with high revenue. Lendzi was founded in 2020 and is on a mission to help small business owners acquire the funding they need, regardless of credit score or if they’ve been denied a loan elsewhere. The company is a direct lender and is partnered with 75 other lenders, which increases your odds substantially of qualifying for a loan. Currently, Lendzi offers seven different types of small business loans, three of which have very low credit score requirements.


Main Features

The fastes loans Lendzi offers are working capital loans, merchant cash advances, and equipment financing. Working capital loans and merchant cash advances allow you to borrow up to $400,000 with a credit score of 500 or higher. Terms vary between three and 15 months, and factor rates start at 1.10. Equipment financing goes up to $2 million with rates starting at 3.49%. Minimum credit score required for equipment financing is 550. To qualify for any type of loan, you need to be in business for at least six months and have $180,000 or more in annual revenue. Applying takes just a few minutes and does not impact your credit score. If approved, Lendzi can get your funds in your account in as little as 24 hours.

Lendzi offers fast business loans for businesses with high revenue. Not only that, but they rank excellent in terms of customer service, with more than 2,000 5-star reviews on Google, TrustPilot, and Better Business Bureau. If you’re in need of a small business loan, head on over to Lendzi and fill out their online application to get started.
SMB Compass

SMB Compass - Best for Loan Variety

Interest Rates
Starting at 7.99%
Loan Amounts
$10K - $10 million
Min. Monthly Revenue
Key Features
  • Loans up to $10 million
  • Min. credit score: can go as low as 550 for certain loans
  • Min. time in business: 1+ years in business, no startups
  • Funding times: 5 to 7 days for term loans and 24 - 48 hours for line of credit
  • Flexible terms: 2 – 10 years for term loans
  • Interest Rates: starting at 8.99% for term loans
  • Applying does not impact credit score
  • Nine loan products to choose from
Pros & Cons
  • Low, competitive rates
  • Large loan amounts
  • Loan terms up to 25 years
  • Excellent customer service
  • Poor credit not accepted
  • Not available in all states
  • Must be in business at least one year
  • High revenue requirements

SMB Compass not only offers fast funding times (most loans fund within 1-2 days of approval), but they also offer nine different types of loans to borrowers. Loans with fast funding times include business lines of credit, invoice factoring, bridge loans, inventory financing, equipment financing, and purchase order financing. If you aren’t sure which loan would be best for your business, reach out to a representative with SMB Compass who can help you decide. To qualify for most loan products, you’ll need a minimum credit score of 650, one year of business history, and $20,000 per month in revenue.


Main Features

SMB Compass offers nine different types of small business loans to borrowers. Their mission is to make loans more accessible to small business borrowers by providing cost-effective and flexible lending solutions. SMB Compass business loans range from $10,000 to $10 million with terms up to 25 years. Rates start at 7.99% for qualified borrowers. The lender has currently provided more than 1,200 U.S. businesses with more than $250 million in financing. To apply, simply fill out their easy online application. It takes just a few minutes and will not impact your credit score. If approved, funding can be dispersed within 24 hours.

Qualification requirements with SMB Compass are stricter than with other lenders, but funding times are fast on most loans, customer service is excellent, terms are flexible, and loan amounts are large. If you need help with your application, a representative is available M-F to guide you through the process. Contact SMB Compass today to get started and have your funds within 24-48 hours if approved!

Bluevine — Best for Customer Support

Interest rates
Starting at 6.2%
Loan Amounts
Up to $250,000
Min. Annual Revenue
Key Features
  • Funding up to $250,000
  • Min. credit score: 625
  • Min. time in business: 6 months
  • Interest rates as low as 4.8%
  • Loan Repayment 6-12 months terms
  • Quick and simple application
Pros & Cons
  • Get funding just hours after being approved
  • Check your rate without hurting your credit
  • No prepayment penalty
  • No origination or monthly maintenance fees
  • Borrow up to $250,000
  • Offers a business checking account
  • Excellent customer reviews on Trustpilot
  • Live chat support in beta
  • Requires $10,000 in monthly revenue
  • Not available in NV, ND, or SD

Bluevine offers credit lines up to $250,000. Once you’re approved, you can get funded as quickly as just a few hours. What’s more, Bluevine’s website provides several self-guided resources, and a live chat is coming soon to make it easier for customers to connect with the support team. Bluevine also has excellent customer service reviews. 


Main Features
You can get a line of credit up to $250,000 from Bluevine and only pay fees on the money you draw. Standard pricing is 1.7% per week or 7% per month, but these fees can vary depending on your business and your creditworthiness. You can choose a six or 12-month term, and there are no setup or maintenance fees, but you will be charged a fee if you submit a late payment. While you can qualify for a line of credit if your business has been established for six months, the revenue requirements are higher than at some other lenders. You’ll need at least $10,000 in monthly revenue to apply. You’ll also need a 625 FICO score. With Bluevine’s quick loans for small businesses, you can get your funds within a few hours of approval if you choose the $15 bank wire option, or as quickly as the next business day for ACH transfers. 

Bluevine offers a quick application and the fastest funding time of the lenders we reviewed, making the company ideal for businesses looking for an instant business loan. The company also has great customer service reviews and a live chat feature on the way.

National Funding — Best for Equipment Financing

Factor Rate
Starting at 1.10
Loan Amounts
Up to $500,000
Min. Annual Revenue
Key Features
  • Min. Time in Business: 6 months
  • Min. Credit Score 600
  • Borrow up to $500,000 in working capital
  • Equipment financing up to $150,000
  • Factor rate From 1.10
  • Fast funding
  • Early payment discounts
  • Equipment financing repayment 2-5 years
  • Working capital repayment 4 months - 2 years
Pros & Cons
  • Guaranteed lowest payment on equipment leasing
  • Flexible repayment terms on all products
  • Excellent customer reviews on Trustpilot
  • Early payoff discount
  • Funds in as few as 24 hours
  • Funding specialists to provide guidance
  • Check your rate without hurting your credit
  • Open to fair credit borrowers
  • No upfront fees
  • Website lacks transparency about rates and fees
  • High annual revenue requirements

National Funding offers business loans for a variety of purposes, including equipment financing. Funds can be delivered as soon as 24 hours after approval. National Funding offers some unique perks, like a lowest payment guarantee for equipment leasing and an early payoff discount. 


Main Features
You can get a small business loan from National Funding, with amounts ranging from $5,000 to $500,000, or you can finance new or used equipment up to $150,000. Working capital loans can be repaid weekly or monthly for 4 months to 24 months, and equipment financing loans are repaid monthly over two to five years. National Funding uses a factor rate rather than an interest rate, and rates begin at 1.10. You’ll need at least six months in business for a small business loan or two years in business for equipment financing, and for each your business will need to have $250,000 or more in annual revenue. While National Funding doesn’t specify a minimum credit score, the lender claims to be accepting of fair credit borrowers. 

National Funding is a well-reviewed lender that offers fast small business loans with perks. It’s best for businesses that need a larger term loan or help with equipment financing rather than a line of credit.
Uncapped - Fast, flexible funding for your online business

Uncapped — Best for Revenue-Based Financing

Revenue Share Rate
5% to 25%
Loan Amounts
Up to $10 million
Min. Annual Revenue
Key Features
  • Borrow up to $10 million
  • Flat fee instead of interest rate for term loans: 2% - 12%
  • Revenue-based financing: 5% -25% revenue share rate
  • No minimum credit score
  • No personal guarantees required
  • Best for online businesses
Pros & Cons
  • Offers revenue-based financing with no due date
  • Offers up to $10 million in financing
  • Funding in as little as one business day
  • No personal credit check required
  • Flexible repayment terms
  • Offers virtual cards
  • Fees as low as 2%
  • No prepayment penalty
  • No origination or maintenance fees
  • No minimum credit score
  • New company with limited customer reviews
  • Only available to businesses with an online model
  • Requires $100,000 or more in monthly revenue
  • Not available in CA, ND, SD, or VT

Uncapped offers high borrowing limits and gives business owners the option of paying back their funding in fixed monthly payments or flexible payments as a percentage of their sales. You can get funding as soon as the next business day after you sign your agreement. However, Uncapped only works with an online model, such as e-commerce websites and mobile apps. 


Main Features
You can borrow between $100,000 and $10 million from Uncapped and repay it either in fixed payments over a term of three to 24 months or as a share of your revenue with no fixed due date. Whichever option you choose, you’ll only be subject to a fee ranging from 2% to 12% of the loan amount. There are no origination fees, maintenance fees, or prepayment penalties. However, Uncapped has relatively strict business and revenue requirements. There’s no minimum credit score, since Uncapped makes decisions based on your business information rather than a credit check, and you can qualify after being established for only six months. But you’ll need at least $100,000 in monthly revenue and an online sales model, such as an ecommerce website, subscription, D2C, mobile app, or SaaS. 

Uncapped is a great option for small businesses with an online model that need a larger business loan rather than a line of credit and want repayment flexibility. And since you can get a decision in as little as 24 hours, it’s also ideal for business owners who need fast cash.

Main Features of the Best Fast Business Loans

National Funding4.1
  • Min. Credit Score - N/A
  • Min. Time in Business - 12 months
  • Min. Annual Revenue - $100,000
  • Loan Amount - $10,000 to $2 million
  • Interest Rate - Not disclosed

How We Chose the Best Fast Business Loans

  • Loan Features: We evaluated the range of loan terms and loan amounts available, along with repayment optionality
  • Application Process: We assessed the ease of the application process, including whether a hard credit pull was required and the funding time once approved
  • Interest Rates & Fees: We compared the cost of borrowing across lenders, including the range of interest rates and any origination, prepayment, late payment, or maintenance fees
  • Qualification Process: We compared eligibility requirements across lenders, including credit score, annual revenue, and business history requirements
  • Customer Support: We looked at the resources each lender offered to borrowers, including online tools and multi-channel support, as well as the accessibility of speaking to a customer service representative
  • Online User Reviews: We considered scores on third-party review sites like Trustpilot and ConsumerAffairs to assess customer satisfaction for each lender
  • Perks and Bonuses: We paid attention to distinctive offerings like payment flexibility and evaluated each lender for advertising transparency and the use of advanced technology, giving bonus points to lenders that satisfy the criteria


What Is a Fast Business Loan?

A fast business loan is a way to get financing for your business quickly. Typically, quick loans for a business come from online lenders. Fast business loans can be any type of funding that is delivered faster than average. We chose to include lenders offering one-day funding for at least some applicants in our roundup of the best fast business loans. 


When to Get a Fast Business Loan

Business owners often use financing to expand their physical location or hire new workers. A loan can also be used to acquire a new business. Here are some other common reasons why a business might need working capital quickly:

  • Covering emergency expenses
  • Replacing essential equipment
  • Managing seasonal fluctuations
  • Purchasing inventory
  • Paying taxes
  • Covering unpaid invoices
  • Paying for insurance
  • Launching a marketing campaign


How to Get a Fast Business Loan

While the process will vary across online lenders, getting a fast small business loan is typically painless. With many lenders, you’ll just need to connect your accounts rather than submitting paperwork. In general, here’s how it works:

  • Decide what type of financing you need
  • Get rate quotes from a handful of lenders you qualify for
  • Accept the offer that best meets your needs
  • Submit additional documents and/or agree to a hard inquiry, if required
  • Once approved, sign your loan documents
  • Wait to receive the money, typically by wire or ACH transfer


Types of Fast Business Loans

If you need funding for your business fast, there are several types of loans you can choose from. Determine which financing option best meets your needs:

  • Term Loans: Term loans provide you with a lump sum that you repay in fixed installments. These can be short-term loans repaid quickly, or the term may be several years. 
  • Business Line of Credit: With a business line of credit, you are approved for a credit limit and can draw up to that amount as needed. You only pay interest or fees on the funds you use, and your line of credit replenishes as you pay it off. 
  • Equipment Financing: Equipment loans are used to purchase business equipment. They are often secured by the equipment and sometimes require a downpayment, but they often have lower rates than other types of business loans. 
  • Revenue-Based Financing: With revenue-based financing, you borrow a lump sum and repay the money as a percentage of your sales over time. 


When to Consider Alternatives

There are a few reasons why you may want to choose an alternative to a fast small business loan. 

  • You don’t need money fast: If you can wait to get your funding, you may get better rates and terms with a loan backed by the Small Business Administration. SBA-backed loans also come with ongoing support for your business. 
  • You only need a small amount: If you only need a small amount that you expect to be able to pay back quickly, you might consider using a business credit card instead. A business credit card is another type of revolving credit line that allows you to spend money up to your credit limit and repay it over time. Business credit cards come with a grace period during which you do not accrue interest. Some also come with an interest-free introductory period that can last for months. 
  • A quick loan won’t meet your needs: If you’re purchasing commercial real estate or acquiring another business, a fast business loan likely won’t work for your needs. 
  • You prefer working with a lender in-person: Some people prefer to go to a bank branch and work with a loan officer face-to-face. You can’t get that experience with a quick online lender. 


Alternatives to Fast Business Loans

A quick business loan isn’t the perfect solution for every business. Below are some alternatives you may consider:

  • SBA-backed loans
  • Business credit card
  • Commercial real estate loan
  • Business acquisition loan
  • Bank term loan
  • Business grants
  • Crowdfunding
  • Angel investors



Sometimes, it makes sense for small businesses to pursue SBA-backed loans for their competitive rates and terms. But other times, when the cash need is urgent, an online business loan fits the bill. Rest assured, options are available for businesses that need a quick injection of cash. It’s possible to check your rate in minutes and have your money in a day. Just make sure you understand the terms and have a repayment plan before signing a loan agreement. 

Frequently Asked Questions(FAQ)

How Fast Can I Get a Business Loan?

If you go through an online lender, you can get a credit decision in a few minutes. If you accept the offer and you qualify for instant approval without supporting documentation, you can often receive your money within one business day of signing your loan documents. Some lenders may even be able to deliver the funds by bank wire in a few hours. Altogether, it generally takes between one and three days to get a business loan from an online lender that offers quick funding. 

What Is the Easiest Place to Get a Business Loan?

That depends on your business, since every lender has different requirements. However, online lenders tend to have looser requirements and a more streamlined application process than banks or credit unions. It’s generally easiest to get a business loan online. 

How Long Do Business Loans Take to Get Approved?

It depends where you get your funding from. Some online lenders can approve your application in a day, while the approval process for SBA-backed loans can take one to three months. 

Can You Get Quick Business Loans for Startups?

Startup businesses with six months or one year of business history can easily qualify for a fast online business loan. But getting a loan to start a business can be tricky and often takes longer. Some entrepreneurs may choose to take out a personal loan to start their business quickly or use crowdfunding to get off the ground. 

How Can I Get a Business Loan Fast?

You can start with this guide and narrow down your options to lenders you’re eligible for. Get a few rate quotes and apply for the lender that best fits your business needs. Make sure to check your email and be responsive to questions along the way, or you could delay the process. 

About the Author

Lindsay Frankel

Written by: Lindsay Frankel

Personal Finance Expert

Personal finance expert with 3 years experience specializing in researching, writing, and editing insurance, loans, and credit cards content

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