Best Of
Online lenders provide fast business loans for immediate needs or a business opportunity. Compare your options.
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 a fast business loan, which probably means you’re willing to pay more for the speed and convenience that online lenders offer but banks often don't.
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.
Our pick for
Fast business loans for an opportunity
9.00 - 99.00%
600
Pros
Cons
Qualifications:
Our pick for
Fast business loans for lower rates
6.99 - 24.99%
650
Pros
Cons
Qualifications:
Our pick for
Fast business loans for immediate needs
10.10 - 79.80%
600
Pros
Cons
Qualifications:
| Lender | Best For | Est. APR | Min. Credit Score | Next Steps |
|---|---|---|---|---|
OnDeck - Online term loan | Best for Fast business loans for an opportunity | 9.00 - 99.00% | 600 | See Your Loan Options
with Fundera by Nerdwallet |
Credibility Capital - Online term loan | Best for Fast business loans for lower rates | 6.99 - 24.99% | 650 | See Your Loan Options
with Fundera by Nerdwallet |
Fundbox - Line of credit | Best for Fast business loans for immediate need | 10.10 - 79.80% | 600 | See Your Loan Options
on Fundbox's secure website |
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 annual percentage rates 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
Fundbox provides fast cash to deal with immediate needs, such as meeting payroll, buying inventory or fixing broken equipment.
Fundbox's line of credit is an option for financing up to $150,000. Funding is as fast as the next business day. You’ll need a minimum of $100,000 in revenue and three months in business to qualify, with no minimum credit score requirements. APRs start around 10%.
FOR BUSINESSES THAT ARE AT LEAST A YEAR OLD
OnDeck provides quick business loans to finance growth opportunities, such as launching a marketing campaign or buying new equipment.
OnDeck’s funding turnaround can be as fast as a single day, though more often it takes several days. 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.
IF YOU HAVE A STRONG BUSINESS AND WANT LOWER RATES
Credibility Capital offers term loans that come with lower rates than OnDeck. 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.
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.
To recap our selections...