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Same-Day Business Loans: Find Funding Today

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Content was accurate at the time of publication.

Same-day business loans allow you to receive funds the day you’re approved or within 24 hours. Your loan funds can be used to cover everyday or emergency business expenses.

Although this type of loan can offer quick access to funds for your business, it usually carries high interest rates in exchange for fast funding.

If your business is experiencing an emergency or needs quick funding for whatever reason, here are some same-day business loan options to keep in mind.

5 options for same-day business loans

If your business needs a same-day business loan, there are several types of loans to choose from, including short-term business loans, merchant cash advances and more. Funds are typically available within 24 hours after approval.

Same-day business loans
Lender Amount Terms Interest rates Min. credit score
Bluevine Up to $250,000 6 to 12 months As low as 4.80% 600
Credibly Up to $400,000 3 to 15 months Factor rates as low as 1.11 500
Elevation Capital $10,000 to $3,000,000 12-month average repayment 1.12 to 1.24 factor rate 500
OnDeck $5,000 to $250,000 Up to 24 months Start at 35.40% 625
Reliant Funding $5,000 to $400,000 3 to 15 months 1.10 to 1.40 factor rate None


If your business has been around six months and earns at least $10,000 a month in revenue, Bluevine’s business line of credit could be a good option for quick funding. The company offers business lines of credit up to $250,000, and you don’t have to pay any fees to open or maintain the account.

You can receive funds in as little as a few hours after approval if you choose its wire transfer option and within one to three business days if you choose its ACH transfer option.

A business line of credit is different from a loan, in that a lender doesn’t issue you a lump sum of money. Instead, it issues you a line of credit with a maximum credit limit — you can borrow from this limit on an as-needed basis, and only pay interest on the amount you withdraw.


Credibly offers working capital loans for small businesses — these loans are designed to help you cover your business’s daily expenses. The loans are short-term in nature, ranging from 3 to 15 months. To qualify, your business must be at least six months old and take in at least $15,000 on average in monthly bank deposits — if you’re approved, you could receive your funds that same day.

Unlike a traditional loan, Credibly working capital loans come with a factor rate instead of an interest rate. To calculate how much you’ll have to repay when taking out a loan with Credibly, you have to multiply the loan amount by the factor rate. For example, if the loan amount is $100,000 and the factor rate is 1.25, your repayment amount will be $125,000.

If you’re short on working capital — capital your business needs to run daily operations — taking out a working capital loan can help keep your business running during rough times.

Elevation Capital

Elevation Capital’s merchant cash advance (MCA) finance option allows you to access funds sometimes as soon as the same day of approval. Elevation Capital offers other types of business financing, but MCAs typically offer fast funding times.

While not technically loans, MCAs do allow business owners to borrow a lump sum of money in exchange for a portion of your future credit card or debit card sales revenue. Once you receive your funds, you can choose to repay the advance daily or weekly. Similar to the option above, the loan company charges you a factor rate.

To qualify, your business has to be at least six months old and its annual revenue must be $150,000 or greater.


OnDeck offers short-term loans to business owners who’ve been in business for at least one year and earn $100,000 or more in annual revenue. The minimum annual percentage rate (APR) on its loans are pretty high — 35.40%. If your loan is approved, you may be able to receive same day loan funding, depending on your state of residence; otherwise, funds are deposited within two to three business days.

Once you’re issued the funds, you can choose to repay the loan back in fixed daily or weekly installments.

Reliant Funding

Reliant Funding offers merchant cash advances to businesses that have been in business for at least six months and earn an annual revenue of $60,000 or more. If you’re approved for this loan, you’ll be charged a factor rate between 1.10 and 1.40. Plus, you may also have to pay an origination fee.

As mentioned above, MCAs provide you with a lump sum, and you make daily or weekly payments.

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Types of same-day business loans

Short-term loans and other financing options listed below typically offer fast funding times. Here’s how each option works:

  • Short-term loans: Short-term loans typically have a repayment term that ranges from three to 18 months. When you take out this type of loan, a lender issues you a lump sum of money and you repay the loan on a regular schedule (daily, weekly, monthly or semimonthly are common terms).
  • Business lines of credit: A business line of credit allows you to borrow money on an as-needed basis to pay for business expenses. It offers more flexibility than a short-term loan, and you’re typically only charged interest on the amount you borrow.
  • Merchant cash advances: When you take out a merchant cash advance, a finance company issues you a lump sum of money in exchange for a portion of your future sales revenue. After the company issues your funds, you repay the advance in daily or weekly installments from your earnings.
  • Invoice factoring: Invoice factoring is another way you can get quick access to funding. With this option, you’re given a cash advance from a factoring company, which you repay with revenue from unpaid invoices. The factoring company usually charges you a factor rate that has to be paid upfront or throughout the duration of the invoice factoring agreement.

Same-day business loans: Pros and cons

Although same-day business loans can offer you speedy access to funds, like most business loan options, using one also comes with some drawbacks.


Fast access to funds. If you need quick access to cash, fast online business loans can provide you with the funding you need to keep your business running during difficult times. With more relaxed eligibility requirements, same-day approval may be available for some applicants. Taking out a small business administration loan (SBA) could involve a lengthy application and a month-long (or more) approval process.

Lower documentation and more lenient eligibility requirements. Along with the fast approval process, same-day business loans also often require less documentation to apply. With more lenient eligibility requirements for quick small business loans, you may only have to submit a short application online. Lenders may determine eligibility based on basic criteria like annual revenue, credit score and time in business.

Available to applicants with poor credit. Because eligibility requirements are more lenient, same-day business loans may be an option available if you have poor credit. In contrast, SBA loans, for example, may have more stringent credit score requirements.

Taking out a business loan can help you build your business credit, too. If you repay the loan on time and your payments are reported to the credit bureaus, this could improve your credit. This could make it easier for you to access business financing in the future and possibly get a lower rate.


Potentially high costs. Some same-day business loan lenders charge high APRs and origination fees. For example, some of the loan options above come with a minimum APR of 35%. Although same-day loan terms are typically shorter than other types of loans, this can still greatly increase your borrowing costs.

May restrict the growth of your business. Taking on debt might make it more difficult to expand your business. “The high cost of debt may be restrictive on the business growth because a lot of the cash flow is going to be used to pay that debt off. It may be hard to grow your business while having that debt on your balance sheet,” says Ken Alozie, a mentor for SCORE, a nonprofit that advises small businesses.

Can negatively impact your personal or business credit. Although a same-day business loan can help you build credit, it can also hurt your credit score. If you make late payments or default on the loan, your business credit can suffer. As a result, you’ll likely find it more difficult to qualify for financing in the future.

Same-day business loans FAQs

Can I get a business loan the same day I apply?

If your business loan is approved, some lenders may deposit your funds the same business day.

What credit score do I need to get a same-day business loan?

While minimum credit score requirements vary according to the lender, you can get approved for a same-day business loan with a credit score as low as 500.

How can I speed up the application process for a same-day business loan?

To ensure the application process goes as quickly as possible, make sure you fill out your loan application correctly and upload the required documents. Some of the documents a lender may ask you for include profit and loss statements, one year of personal and business tax returns and recent bank statements.

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