Business Loans
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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Emergency Business Loans That’ll Get You Fast Funding

Updated on:
Content was accurate at the time of publication.

An emergency business loan provides short-term funding to help you recover from an unexpected expense or other disaster. This type of funding can get you cash fast, but be aware that this can also be an expensive borrowing method. We’ll cover the ins and outs of emergency business loans to help you determine if it is the best solution for your business.

Best emergency business loans

Here are our picks for the best emergency business loans:

How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
LenderBest forMaximum amountMinimum credit scoreTime to funding
Fundbox logoLine of creditUp to $150,000600+ personal FICO ScoreSoon as the next business day
Short-term business loan$250,000625Same business day for certain states
Business line of credit for high-revenue businesses$250,000625Same day to 3 days
Taycor Financial lender logoStartup businesses$2,000,00055024 hours or less after approval
Businesses with bad credit$400,000500Soon as the same day

Learn more about how we chose our picks.

Fundbox: Best emergency line of credit

Fundbox logo

How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
Term length12 weeks or 24 weeks
Max. loan amountUp to $150,000
Starting interest4.66% for 12-week terms 8.99% for 24-week terms
Min. credit score600+ personal FICO Score
Min. time in business6 months recommended

Read our review

OnDeck: Best emergency short-term loan

Term lengthUp to 24 months
Max. loan amount$250,000
Starting interest35.40%
Min. credit score625
Min. time in business1 year or more

Read our review

Bluevine: Best emergency funding for high-revenue businesses

Term length6 or 12 months
Max. loan amount$250,000
Starting interest6.20% simple interest for a 26-week repayment term
Min. credit score625
Min. time in business24 months

Read our review

Taycor Financial: Best emergency business funding for startups

Taycor Financial lender logo

Term length12 to 84 months
Max. loan amount$2,000,000
Starting interest4.99%
Min. credit score550
Min. time in businessN/A

Read our review

Credibly: Best emergency business loans for bad credit

Term length3 to 15 months
Max. loan amount$400,000
Starting interestFactor rate of 1.11
Min. credit score500
Min. time in business6+ months in business

Read our review

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Types of emergency business loans

If you’re a business owner and need funds fast, there are small business loans specifically suited for emergency business funding. Here are a few options to consider.

Business term loan

A business term loan provides borrowers with a lump sum of cash upfront to be paid back in recurring daily, weekly or monthly installments. Repayment periods for short-term business loans are usually around three to 24 months, while long-term business loans can extend anywhere from three to 10 years. Short-term business loans, which are often found with online lenders, are more suitable for emergency funding because they offer a much faster turnaround time for funding than long-term loans, which could take several weeks.

Business line of credit

A business line of credit is a revolving form of funding where you only pay interest on what you borrow. Unlike term loans, which give you the cash upfront, this is a more flexible form of financing, suitable for recurring expenses or plugging cash flow gaps. Terms for lines of credit can range from as short as 12 weeks to as long as several years. Interest rates can be from 4% to 60% and are determined by the borrowed amount and repayment terms.

Merchant cash advance

A merchant cash advance offers a business an advance lump sum borrowed against future sales. The lender takes a percentage of the business’s future credit card sales until the loan is paid in full. Interest is charged as a factor rate, usually between 1.2 and 1.5, and is multiplied by the advance amount. This could be an option to consider if your business does a high volume of credit card sales, but it’s worth being aware that this option could cut into future profits.

Invoice factoring

Invoice financing is a type of funding that is usually best suited for businesses with unpaid invoices. The invoices are sold to a factoring company for a cash advance of about 70% to 90% of the unpaid invoices. This type of funding places more emphasis on your business’ invoices than a high credit score, making it a viable option for businesses with bad credit.

Working capital loans

Working capital loans are a variety of loan products that can be used to cover short-term operating expenses. Working capital loans can be anything from short-term loans to a business line of credit, merchant cash advances or even SBA loans. Each product has its own repayment plan, with some that may require daily, weekly or monthly payments.

SBA disaster loan

The U.S. Small Business Administration (SBA) offers disaster loans to help provide funding in the case of an emergency, such as a natural disaster. To be eligible for this type of SBA funding, your business must be located in a declared disaster area. Funding can be used for anything from equipment replacement to getting any upgrades to help prevent possible destruction in the future.

How to apply for an emergency small business loan

The business application process to get an emergency small business loan can vary depending on products and lenders, but there are a few steps you’ll likely need to follow no matter what you choose.

1. Decide why you need the funds

Determine why you need the funds now and what you need them for, such as to replace broken equipment or repair property during a natural disaster. Targeting your specific needs will allow you to find the best loan option.

2. Determine what you qualify for

Lenders will look at your personal credit score when determining eligibility, with the best rates usually given to those with higher scores. Depending on the loan and lender, you may need to put up collateral in case you default on your loan. Lenders will likely require your business to be operating for a specific length of time, ranging anywhere from six months to two years or more.

3. Gather the required documents

Lenders typically look at certain documents when determining your eligibility for their loans. These documents can vary but usually consist of a business plan, a balance sheet, and both your personal and business tax returns.

4. Compare lenders and apply

Compare lenders to ensure you’re getting the best product for your business needs. A few things to compare between lenders are interest rates and repayment terms, along with any fees associated with the products offered.

When to consider fast business funding

You could consider an emergency business loan when you need to:

  • Meet payroll or pay bills because receivables are delayed
  • Pay operational expenses during slowdowns
  • Replace broken equipment
  • Repair property damaged in a disaster
  • Cover sudden, necessary changes in operations
  • Pursue an urgent business opportunity

What to ask yourself when considering emergency business loans

Because emergency business funding can be expensive — and borrowing could compound ongoing financial problems — take a moment to ask yourself these questions before applying for an emergency business loan:

  • How much money do I need?
  • If I get that much money, how will I pay it back — plus interest?
  • Do I need the funding right away or am I anticipating its need?
  • How fast do I need to receive the money after applying?
  • How much information am I willing to provide to apply?
  • Do I need one-time, recurring or ongoing funding?
  • What loan terms work best for me?
  • Does my business credit score or credit history make it difficult to qualify?
  • Do I have unpaid invoices I could leverage to get funding?
  • Is my need caused by a declared disaster?

Emergency business loan alternatives

Emergency business loans may not be for everyone, and that’s when alternatives such as a business credit card or a personal loan can come in.

AlternativeTypical time to funding
Business credit card
  • Can be approved within minutes but may also take one to two weeks for approval
  • Typically receive a physical card between 10 and 14 business days upon approval
  • Some issuers may allow you to use the card electronically (providing you with the card number or by adding it to your digital wallet) before receiving the physical card
Personal loanWithin 24 hours of approval or up to several days

Business credit card

A business credit card is a revolving credit line that provides limited funding when needed. While some credit cards can come with 0% interest during an introductory period for new account holders with excellent credit, the average annual percentage rate (APR) can range from 13% to 29% or higher. Those with bad credit may qualify for a much lower credit limit than those with excellent credit, and interest can also accumulate if you don’t pay your credit card bill in full each month.

Personal loan

A personal loan is similar to a term loan, where you receive a lump sum of cash that you’d repay in regular installments. Personal loans can be secured or unsecured, a type of loan that does not require any assets but you’ll likely pay higher rates and need a good credit history to qualify. The APR on personal loans differs depending on your credit score, too. For example, someone with a high score of 720 may receive a rate of 14.37%, while a borrower with a score of around 560 to 579 might get a much higher rate of 122.22%.

How we chose our picks

To appear on our list of best emergency business loans, lenders needed to meet the following criteria:

  • Required minimum credit score below 640
  • Loan amounts of $100,000 or greater
  • Transparent starting interest rates and repayment times
  • Able to receive the funds within 3 business days

Small business owners with bad credit may still be eligible for an emergency business loan. It’s possible not all products will be available to those with bad credit, but funding options, including merchant cash advances and invoice factoring, might be. However, borrowers with bad credit can expect higher interest rates than those with good to excellent credit and may need to offer collateral to increase their chances for approval.

Emergency business loans can come from online lenders, credit unions and traditional banks. However, traditional banks may have stricter eligibility requirements and will likely not be as fast for approval and funding as online lenders.

It may be possible to get emergency business funding close to immediately. Many lenders — including our picks for the best emergency business loans — offer fast funding, including the same business day or within hours upon approval. Online lenders will likely offer the fastest approval time and funding.

To get an Economic Injury Disaster Loan (EIDL) from the SBA, your business must have been damaged in a declared disaster area. For this type of emergency business loan, you will also need to apply before the deadline, which is nine months from the disaster declaration.

A personal guarantee makes owners personally responsible for paying off their company’s debt if they should default on a loan. This type of guarantee is usually targeted toward riskier borrowers who are not yet financially stable and could have trouble paying off the debt.

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