Fast business loans are usually available from online lenders, which offer streamlined applications and funding in as little as 24 hours. These small-business loans can be a good option for covering emergency expenses or taking advantage of a new growth opportunity when quick financing is a priority.
What is a fast business loan?
A fast business loan is a type of financing that can be funded within a short time frame — typically one to three business days. The quickest business loans are usually issued by online lenders, which offer simple, streamlined application processes and may utilize technology to speed up the funding process. Fast business loans tend to have flexible qualification requirements and may be available to startups or borrowers with bad credit.
Speed and convenience come at a cost, however, and these loans typically have higher interest rates and shorter repayment terms compared with traditional financing options, such as bank and SBA loans.
What impacts funding speed for a business loan?
Some online lenders can fund loan applications as fast as the same or next business day. It may take longer to get funds, however, as your exact timeline varies based on factors such as:
Documentation. You’ll likely need to provide some type of documentation as part of your loan application, such as financial statements or tax returns. If you provide incorrect or outdated documents, this can slow down the underwriting process.
Collateral. If you’re providing collateral to secure your loan, the lender will typically ask for documentation to verify its value. Appraising your collateral ahead of time and having the corresponding paperwork can help speed up your timeline.
Your responsiveness. If a lender has follow up questions or needs you to sign a loan agreement, the faster you respond to those inquiries, the faster you’ll get access to funding.
Your bank. After your lender sends your funds, it may take a few days for your bank to process and show that money in your account.
Types of quick business loans
These types of business loans can offer fast funding:
Online term loans
Term loans offer lump sums of money that you borrow from a lender and repay over a set period of time, with interest. A business term loan can be a good option for a range of purposes including working capital, hiring new employees and large purchases.
Business lines of credit
Similar to a credit card, a line of credit gives you access to a set amount of money that you can borrow as needed. You only pay interest on the funds you withdraw — and as long as you make timely repayments and don’t exceed your credit limit, you can continue to borrow up to the limit.
Business lines of credit can be used for working capital, cash flow gaps, seasonally slow periods and emergency funding.
Equipment financing
Equipment loans are used specifically to buy machinery or equipment for your business and are secured by what you purchase. Because the equipment serves as collateral, lenders may focus less heavily on traditional underwriting criteria, such as credit score or time in business. Equipment loans usually function like term loans — you repay them over time, with interest.
Invoice factoring
Invoice factoring involves selling your invoices to a factoring company at a discount. You receive a percentage of the invoice amount upfront and the company takes responsibility for collecting full repayment from your customers. Invoice factoring is a good option for business-to-business companies that have cash tied up in unpaid invoices.
Merchant cash advances
With a merchant cash advance (MCA) a company gives you a lump sum of money that you repay using a portion of your debit and credit card sales, plus a fee. MCAs can be useful for businesses that have substantial debit and credit card sales — but you should consider all other options first. MCAs often have high APRs and can create a harmful cycle of debt.
Best fast business loan options
Fora Financial – Online term loan
$1,500,000 570 6 months 
Bluevine – Line of credit
$250,000 625 12 months 
Headway Capital – Line of credit
$100,000 625 6 months 
AltLINE – Invoice factoring
$5,000,000 300 N/A 
Fundbox – Line of credit
$250,000 600 3 months 
iBusiness Funding – Online term loan
$500,000 660 24 months 
altbanq – Online term loan
$10,000,000 650 12 months 
Giggle Finance – Merchant cash advance
$10,000 300 3 months 
National Funding – Equipment financing
$150,000 600 6 months
Pros and cons of quick business loans
Access to capital within a few business days.
Streamlined application processes; typically minimal documentation required.
Startups and borrowers with bad credit may qualify.
Interest rates are often higher than other options.
Tend to have shorter repayment terms and smaller funding maximums.
When to consider a fast business loan
Here are some scenarios in which a fast loan may make sense for your business:
You need to pay for immediate expenses. If you need to cover emergency costs, fill a temporary cash flow gap or take advantage of an unexpected opportunity, these loans can provide the business capital you need — fast. Some quick business loans offer funding in as little as 24 hours. In certain situations, it can be worth it to pay a little more for fast access to the money you need.
You want bridge funding until you get a long-term loan. If you need funding to hold you over temporarily until you secure a long-term loan, a quick business loan can be an option. A fast business loan can be used as a commercial bridge loan to fund a project or opportunity while you submit an application and get approved for a more permanent loan with a longer term and better rates.
You can’t qualify for other types of financing. If you can’t qualify for a bank or SBA loan, a fast business loan from an online lender may be a good option. Online lenders tend to have more flexible qualification requirements — and although interest rates are typically higher than conventional business loans, you’ll have a variety of options to compare and choose from. Plus, whereas bank and SBA loans can take anywhere from weeks to months to fund, you’ll be able to apply and receive funding in just a few days.
Concerned about tariffs?
Many small-business owners are under increased economic stress and uncertainty following the latest tariff announcements. NerdWallet is here to help you find answers for whatever you’re looking for. Here are some resources to help you get started:
How to get a fast business loan
The right loan for your small business will ultimately depend on your specific funding needs and your business’s qualifications. However, if speed is a priority in your search, here are steps you can follow to get a business loan quickly.
1. Understand your financing needs
You’ll want to determine how much capital you need, what you’re going to use it for and what type of loan is the best option. Based on how you’re going to use your funds, you should figure out exactly how quickly you need access to financing.
Fast business loans tend to have shorter repayment terms and higher interest rates, so it’s also important to calculate how much debt you can afford.
2. Evaluate your qualifications
You should review standard business loan requirements — personal credit score, time in business and annual revenue — so you know where you stand before applying.
Online lenders typically have flexible eligibility criteria and may be willing to work with you even
if you’re a new business or have a rocky credit history. These lenders don’t usually ask for collateral, although they likely will require a personal guarantee or take a lien out on your business assets.
If you do have physical collateral to offer up, however, doing so may strengthen your loan application and help you qualify for better interest rates and repayment terms.
3. Research and compare lenders
You’ll want to research several lenders in order to find the right option for your needs. Ideally, you should find a lender that can provide the funding you need, support your timeline and offer competitive business loan rates.
As you compare small-business lenders, you should consider factors such as available loan types, interest rates, fees and repayment terms. You’ll also want to think about the lender’s application process, funding speed and customer support.
Although there are many reputable online lenders on the market, predatory lenders may try to take advantage of borrowers who are in a rush for funding. Be wary of any lenders that try to push you too quickly through the loan process without showing loan terms and rates upfront. These types of lenders may also try to make promises like guaranteed approval or business loans with no credit check.
4. Complete and submit your loan application
Most fast business loans will require minimal documentation. In some cases, you may even be able to connect your financial accounts to the lender’s system in order to expedite the underwriting process.
Generally, however, you may be asked to provide the following:
Basic information about you and your business.
Business and personal bank statements.
Business and personal tax returns.
Business financial statements.
After you’ve submitted your application, you may receive approval in just hours — depending on the lender.
How to compare quick business loans
While you may be in a hurry to get business financing, take some time to consider the following factors before accepting any loan agreement:
⏱️ Funding speed. All the loans on our list can provide funding in three business days or faster. You’ll want to make sure any lender you’re considering can process and fund your loan within the timeframe you need.
📈 Interest rate. Lenders that offer the fastest funding may also have the highest rates and fees. Review both the interest rates offered and the corresponding annual percentage rate. It’s important to look at the APR because it factors in loan fees and gives the actual yearly cost of a loan.
🗓️ Loan term. Fast business lenders may offer shorter repayment terms than traditional loans. Longer loan terms can mean smaller monthly payments, in some cases. A short loan term could mean that you pay less in interest.
✍️ Repayment schedule. Before you commit to a loan agreement, compare the amount and frequency of payments to make sure they fit into your budget. A business loan calculator can help you estimate your payment amounts.
🏠 Collateral. Check to see if the lender requires collateral, or if offering it will improve your loan terms. In either case, review available assets — such as accounts receivable, equipment and real estate — that can back up the loan. Keep in mind that while collateral can improve your approval chances, appraisals and gathering other information can add to the processing time.
Alternatives to fast business loans
Speed can be useful when it comes to business financing, but it often results in higher interest rates. If you don’t need a same-day business loan and can wait a little longer for capital, you might consider these alternatives:
