While some online lenders offer same-day funding, you can typically expect to receive your fast business funds within one to three business days.
| Loan amounts | $5,000 to $400,000 |
| Starting interest rate | 1.11 factor rate |
| Term length | 3 to 15 months |
| Minimum credit score | 500 |
| Minimum time in business | Six months |
| Time to funding | Same-day funding available |
| Pros | Cons |
|---|---|
Low minimum credit score requirement Ideal for startups and well-established businesses Quick approval times | High annual revenue requirement Charges a one-time 2.50% origination fee Most products provided by third-party partners |
Credibly takes the lead with same-day business loans — with approvals taking four hours or less and funds typically available within 24 hours. If you’ve been turned down for a traditional bank loan, Credibly is ready to help with flexible eligibility requirements and a solid support team. In addition to working capital loans and merchant cash advances, you can work with one of Credibly’s partners to get SBA loans, lines of credit, equipment loans, invoice factoring and other financing solutions for your small business. To qualify, your business must be located in the U.S., with a minimum of $180,000 in annual revenue.
| Loan amounts | $5,000 to $250,000 |
| Starting interest rate | 35.40% |
| Term length | 18 to 24 months |
| Minimum credit score | 625 |
| Minimum time in business | 12 months |
| Time to funding | Same-day funding available |
| Pros | Cons |
|---|---|
Fair to low credit accepted Can help build business credit Funds can be available within same business day | Requires daily or weekly repayments Doesn’t fund all industry types Not available in North Dakota |
OnDeck provides short-term business loans of up to $250,000 to help cover expenses like expansions, inventory, payroll or capital to keep your business afloat during seasonal lulls. With OnDeck’s streamlined application process, you could receive funds the same business day you’re approved. Since OnDeck reports to the major credit bureaus, on-time payments could improve your business credit profile and help you qualify for more business financing in the future. Your business must generate at least $100,000 in annual revenue to qualify. Note that OnDeck isn’t available in all states and doesn’t fund all industries.
| Loan amounts | $5,000 to $100,000 |
| Starting interest rate | Not disclosed |
| Term length | 12, 18 or 24 months |
| Minimum credit score | Not disclosed |
| Minimum time in business | Six months |
| Time to funding | Next business day |
| Pros | Cons |
|---|---|
Can use funds for any legitimate business purchase No annual or monthly service fee | Not available in all states Only one product offered Lack of transparency regarding estimated interest rates |
A Headway Capital working capital loan could be a good fit if your business earns $50,000 or more in annual revenue and has been operating for at least six months. Loan amounts go up to $100,000 and can cover payroll, marketing, inventory, hiring staff or purchasing equipment. While Headway Capital doesn’t disclose minimum credit score requirements, it follows a holistic approach when evaluating your application and looks at factors beyond your credit score.
| Loan amounts | $6,000 to $250,000 |
| Starting interest rate | 6.20% |
| Term length | 6 or 12 months |
| Minimum credit score | 625 |
| Minimum time in business | 24 months |
| Time to funding | Same-day funding available |
| Pros | Cons |
|---|---|
Credit decision made within minutes No monthly or maintenance fees Low minimum credit score | High annual revenue requirement May require weekly repayments Not available in Nevada, North Dakota or South Dakota |
A Bluevine business line of credit can provide your business quick access to flexible funds as needed. With amounts up to $250,000, you can tackle day-to-day and long-term business expenses, such as renovations, payroll services, marketing campaigns and equipment. Bluevine doesn’t charge any monthly or maintenance fees, only charging interest on the funds you withdraw. To qualify, your business must operate for at least 24 months and generate at least $480,000 in annual revenue.
| Loan amounts | $5,000 to $1,500,000 |
| Starting interest rate | 1.10 to 1.40 factor rate |
| Term length | Up to 15 months |
| Minimum credit score | 500 |
| Minimum time in business | Six months |
| Time to funding | 24 to 48 hours |
| Pros | Cons |
|---|---|
Low minimum credit score Prepayment discounts Can increase loan amount after repaying 60% of original loan | Only two funding products Factor rate makes it difficult to compare loan costs High monthly revenue to qualify |
Fora Financial is one of our top picks for a bad credit business loan with a low minimum credit score of 500 and only six months of business history required. Additionally, you don’t need to provide collateral and could receive funds of up to $1,500,000 as quickly as 24 hours after approval. Businesses must generate at least $180,000 in annual revenue to qualify. Contact Fora Financial for a free quote with no commitment to see how its small business loan can help your cash-flow management.
| Loan amounts | Up to $150,000 |
| Starting interest rate |
|
| Term length | 3 or 12 months |
| Minimum credit score | 600 |
| Minimum time in business | Six months |
| Time to funding | Next business day |
| Pros | Cons |
|---|---|
Short time-in-business requirement No prepayment penalties Available in all U.S. states | Maximum borrowing amount is relatively low Offers only one product Short repayment terms |
If you’re looking for a fast startup business loan with a low minimum credit score and short time-in-business requirement, consider a business line of credit with Fundbox. Newly established businesses can access up to $150,000 in revolving funds, only paying interest on the amounts withdrawn.Businesses must be based in the U.S. and earn at least $100,000 in annual revenue to qualify. You can also upgrade to Fundbox Plus to unlock 20% less on fees while taking advantage of extended repayment terms and other exclusive benefits.
| Loan amounts | $25,000 to $500,000 |
| Starting interest rate | 11.29% |
| Term length | 6 to 84 months |
| Minimum credit score | 660 |
| Minimum time in business | 24 months |
| Time to funding | Two business days |
| Pros | Cons |
|---|---|
No prepayment penalty No hard credit check for most applicants Low annual revenue requirement | Collateral and personal guarantee required Hard credit check for partnerships Doesn’t report payments to all credit bureaus |
Funding Circle’s secured business loan can provide up to $500,000 with competitive rates, low monthly payments, no prepayment penalties and a two-day funding timeline. Additionally, Funding Circle helps level the playing field for diverse business owners, offering affordable small business loans for women and minority business loans. Companies must provide collateral and have an annual revenue of $50,000 or more to qualify. A dedicated Account Manager can help identify your funding needs and discuss the next steps.
| Loan amounts | $5,000 to $500,000 |
| Starting interest rate | 1.11 factor rate |
| Term length | 4 to 18 months |
| Minimum credit score | 600 |
| Minimum time in business | Six months |
| Time to funding | Next business day |
| Pros | Cons |
|---|---|
No down payment or collateral needed Early payoff discounts Personalized service with your own Funding Specialist | High annual revenue requirement Factor rate makes it hard to compare to other lenders Misleading website marketing makes it appear like the lender offers more than two loan options |
National Funding offers unsecured business loans of up to $500,000 with no collateral or down payment required. Funds can go toward working capital, marketing, inventory, payroll, business taxes and more.In addition to providing a dedicated Funding Specialist to help you take your business to the next level, National Funding offers early payoff discounts, flexible repayment terms and a low minimum credit score requirement. You must have $250,000 or more in annual sales to qualify.
| Loan amounts | Up to $500,000 |
| Starting interest rate | 5.49% |
| Term length | 6 to 72 months |
| Minimum credit score | Not disclosed |
| Minimum time in business | Not disclosed |
| Time to funding | One business day |
| Pros | Cons |
|---|---|
Up to 100% financing for new and used equipment Flexible payment schedules Streamlined application process | Lack of transparency about minimum credit score requirements Rates can vary based on your credit No minimum time in business specified |
CIT, a division of First Citizens Bank, provides equipment financing up to $500,000 to help replace or purchase essential equipment and machinery for your business. The speedy application process takes as little as three minutes, with funds hitting your business bank account as quickly as one business day after approval. In addition to heavy equipment loans, First Citizens offers business credit cards, business loans, lines of credit and SBA loans. You can choose from monthly, seasonal or deferred payment options.
| Loan amounts | $30,000 to $5,000,000 |
| Advance rate | Up to 90% |
| Invoice factoring fees | 0.75% to 3.50% |
| Minimum credit score | No minimum |
| Minimum time in business | No minimum |
| Time to funding | 24 to 48 hours |
| Pros | Cons |
|---|---|
Ideal for startups and established businesses Backed by an established banking institution Factor rates start as low as 0.75% | Charges origination and wire fees Requires client’s customers to be creditworthy Factor rate makes it hard to compare to other business loans |
If you need fast access to capital, consider using an invoice factoring company like altLINE to turn unpaid invoices into cash advances. Once approved, you can receive up to 90% in cash advances within 24 to 48 hours. Funds can help pay debts, cover payroll, cover startup expenses and more. Although altLINE runs a background and credit check for all applicants, you don’t need to meet minimum credit score or business history requirements. Instead, altLINE focuses on your invoice balances, due dates and your clients’ credit profiles during the approval process.
| Pros | Cons |
|---|---|
| Get the funds you need within one to three business days Ideal for low-credit borrowers and startups Various types of loan products to tackle most business needs | Typically have higher interest rates Smaller loan amounts Collateral is often required |
While some online lenders offer same-day funding, you can typically expect to receive your fast business funds within one to three business days.
Most SBA loans have an extensive application process, with decisions taking up to 10 days or longer. However, the SBA Express loan is a speedier version of the popular SBA 7(a) loan, offering a turnaround time of 36 hours.
Keep in mind that the SBA doesn’t enforce strict guidelines on when a lender needs to disburse funds, so your waiting time could still be significantly longer than our other quick business loan options.
Typically, you need a good credit score in the mid-600s to qualify for small business loans. However, many lenders work with low-credit business owners, including those with scores as low as 500.
Just remember that the higher your credit score, the more likely you will receive a better interest rate.