Key takeaways
- Fast business loans offer rapid funding, often in one to three business days.
- Business lines of credit, business credit cards and merchant cash advances can be considered types of fast business loans.
- Having a high credit score, a solid revenue stream and being an established borrower with your chosen lender can speed up the borrowing process.
Fast business loans can provide fast cash to your business when you need it most. Whether you’re trying to make payroll, fund equipment repairs or take advantage of an expansion opportunity, getting a fast business loan can provide you with funding within a matter of a few days.
There are a wide variety of fast business loans available, and it’s important to understand the advantages and disadvantages of each option. Learn more about all of your options for fast borrowing.
Popular options for fast small business loans
There are a wide variety of business loans to choose from. Here’s a quick overview of your options.
| Types of fast business loans | Description | Rating | Best for |
|---|---|---|---|
| Term loans | Provides one lump sum upfront, followed by regular payments according to the set repayment schedule. |
Speed: ★★★★☆ Cost: ★★★★★ Requirements: ★★★☆☆ Funding amounts: ★★★★★ |
|
| Business lines of credit | Offers flexible access to a line of credit, allowing multiple draws up to the credit limit, with interest paid only on your outstanding balance. |
Speed: ★★★★☆ Cost: ★★★★★ Requirements: ★★★★☆ Funding amounts: ★★★★☆ |
|
| Business credit cards | Provides access to cash and the ability to make purchases as needed, with no interest if you don’t carry a balance. May offer perks and rewards. |
Speed: ★★★★☆ Cost: ★★★☆☆ Requirements: ★★★★☆ Funding amounts: ★★★☆☆ |
|
| Equipment financing | Loans used for the purchase of business equipment and machinery. |
Speed: ★★★☆☆ Cost: ★★★★☆ Requirements: ★★★★☆ Funding amounts: ★★★★★ |
|
| SBA Express loans | Government-backed loans offering flexible qualification requirements and high loan amounts and capped interest rates. |
Speed: ★★☆☆☆ Cost: ★★★★★ Requirements: ★★★☆☆ Funding amounts: ★★★★☆ |
|
| Merchant cash advances | Borrowing based on a percentage of credit card sales and repaid through a percentage of future sales. |
Speed: ★★★★★ Cost: ★★☆☆☆ Requirements: ★★★★☆ Funding amounts: ★★★☆☆ |
|
| Invoice financing/factoring | Borrowing based on a percentage of your company’s unpaid invoices. |
Speed: ★★★★★ Cost: ★★☆☆☆ Requirements: ★★★★☆ Funding amounts: ★★★☆☆ |
|
Which fast business loan you should apply for will depend on your business, your revenue, your credit score, what you intend to use the loan for and how much of a monthly payment you can handle. Be sure to carefully compare all your options, and consider the terms of the loan you’re taking on beyond how fast you can get the funds.
Here’s a more detailed look at the types of fast business loan available.
Where can I get a fast business loan?
While many lenders offer expedited loans, some lenders are quicker than others to get you funding. Here’s what to know.
Learn more
Term loans
Term loans are lump-sum loans that come with a set amount of funding, a set repayment schedule and, in general, a fixed interest rate. They’re one of the most common loan types offered, and can be obtained from traditional lenders such as banks and credit unions, or from alternative options including as online lenders.
Term loans offer some of the best interest rates in the market, with an average of 7.31 percent. The downside – high credit score and revenue requirements, especially if you want a good rate.
In general, term loans can be disbursed quickly and offer high funding amounts – often well into the millions of dollars – in a matter of a few business days, especially if you go with an online lender. Being an established customer at your chosen lender can also speed up the process.
| Speed | ★★★★☆ | Terms loans can disperse quickly, depending on the lender, though the credit check process may slow the process down. |
| Cost | ★★★★★ | Term loans tend to have the lowest interest rates out of all loan types. The better your credit score and revenue, the better your rate. |
| Requirements | ★★★☆☆ | Term loans tend to have high credit score, revenue and time in business requirements. While bad credit and startup loans exist, they often have higher rates. |
| Funding amounts | ★★★★★ | Term loans offer some of the highest funding amounts, with some going into the $5 million range. |
A term loan might be the best fast business loan for you if:
-
You have a specific purchase with a fixed cost in mind
-
You have a good credit score and revenue stream
-
You have high funding needs
Business line of credit
Business lines of credit (LOCs) are a flexible funding option that offer a revolving credit line, allowing borrowers to draw as much funding as they need. Interest is only charged on the balance, which makes LOCs a good option if you’re unsure of how much you need to borrow. Some LOCs can be replenished with regular repayments, allowing you to borrow long-term.
Like term loans, LOCs can disburse quickly if you have a good credit score and revenue. If you have an open LOC when you need funds, you can receive funding almost immediately. Online lenders also tend to be quicker than traditional lenders.
Interest rates tend to be similar to term loans, with better rates offered for borrowers with better credit standing. Credit scores and revenue requirements also tend to be a little lower than term loans.
On the downside, LOCs tend to have lower limits than term loans, meaning they’re not a good option if you’re making a large purchase.
| Speed | ★★★★☆ | They fund fairly quickly, though the approval process may take time. Online lenders will get you funds the most quickly. |
| Cost | ★★★★★ | Interest rates are similar to term loans and you’ll only pay interest on what you borrow. Some LOCs do come with fees. |
| Requirements | ★★★★☆ | Requirements tend to be flexible, though most lenders will have a credit score minimum of 660. Revenue requirements are a bit lower than term loans. |
| Funding amounts | ★★★★☆ | While revenue-dependent, lines of credit tend to have lower limits than term loans. |
A business line of credit might be the best fast business loan for you if:
- You don’t know exactly how much you need to borrow
- You’re looking for lower funding amounts
- You need to borrow over a longer period of time
Bankrate insight
Online lenders are one of the most popular funding sources for fast lending, according to the Federal Reserve’s 2025 Small Business Credit Survey. Over half (55 percent) of firms that cited speed as a factor in their loan application process used an online lender.
Business credit cards
Like personal credit cards, business credit cards are a revolving line of credit that allows you to draw against the limit and pay back the balance later. You’re only charged interest on the balance, and you may be able to avoid paying interest entirely if you pay it back in full at the end of the month. You may have to pay an annual fee, however, and card interest rates can be quite high.
Credit cards can be easier to qualify for than other loans if you have a good credit score, as some don’t come with a minimum revenue requirement. Having high business revenue can snag you a higher limit, though you won’t be able to get as much funding as other loan types.
Business credit cards also come with perks. Many card companies offer rewards such as travel points, cashback bonuses, travel insurance, discounts and spending credits for certain brands.
| Speed | ★★★★☆ | If you already have a business credit card, you can start using it immediately. Applying and getting approved for a new credit card may take a week or longer, though it can be faster if you’re pre-approved. |
| Cost | ★★★☆☆ | Business credit cards tend to have APRs in the 30 percent range, which, while lower than some financing types, is still high. They also often come with annual fees. |
| Requirements | ★★★★☆ | While you’ll need a good credit score – typically 670 or more – the revenue requirements are often much lower than other loans. |
| Funding amounts | ★★★☆☆ | Card limits tend to be on the low side, typically in the $50k range. |
A business credit might be the best fast business lending option for you if:
- You plan on making several small purchases over a period of time
- You can pay off the balance at the end of the month
- You want to take advantage of spending rewards
Equipment financing
Equipment loans offer financing for specific equipment purchases, such as office furniture, semi-trucks, manufacturing equipment and more. The equipment is used to secure the loan, making it a less-risky loan for lenders to offer and making the borrowing requirements more flexible than other loan types.
While equipment loans can be an accessible way to quickly fund purchases, they do come with limits.
You’ll only be able to use the loan for the equipment you plan to purchase, which has to be approved by the lender. You stand the risk of losing your equipment if you default, and you may be subject to equipment assessments and inspections that can slow the process down. You may also have to pay for licensing, insurance or other services to keep the equipment up to standard.
| Speed | ★★★☆☆ | Equipment loans can disburse fairly quickly, though the process can be longer if the lender requires an assessment or inspection on the equipment. |
| Cost | ★★★★☆ | Equipment loans can have competitive interest rates, especially if you have a good credit score. You may end up paying additional fees for maintenance, insurance and inspections required by the lender. |
| Requirements | ★★★★☆ | Equipment loans are often accessible for bad credit borrowers, as the equipment secures the loan. You can only use the funds for purchasing equipment, however. |
| Funding amounts | ★★★★★ | Equipment loans often cover the full cost of equipment purchase, so long as the assessment matches the required loan amount. |
An equipment loan might be the best fast business loan for you if:
- You have a specific equipment purchase in mind
- You have a lower credit score or revenue amount
- You plan to use the funds exclusively for equipment
SBA Express loans
While loans offered by the Small Business Administration (SBA) often have long approval times, SBA Express loans have an expedited approval process which allows you to obtain a 7(a) loan in a shorter timeframe.
SBA Express loans have a few advantages to them. They can be a good last-resort funding option if you’ve exhausted other financing avenues. They have capped interest rates, making them more affordable than other loan types, and can be used for a wide variety of expenses, including payroll, equipment purchases or inventory.
SBA Express loans do come with certain limits. While faster than other SBA loans, Express loans can still take weeks for approval, with the typical timeframe being 45 to 60 days. Applicants are required to be US citizens, and the company must be based in the United States. Certain industries, such as gambling or cannabis growers, are also not allowed to apply.
| Speed | ★★☆☆☆ | While they’re designed to be quicker, SBA Express loans can take weeks for approval. |
| Cost | ★★★★★ | SBA loans come with capped interest rates and minimal fees, making them uniquely affordable. |
| Requirements | ★★★☆☆ | While more accessible for those with lower credit, SBA loans come with unique requirements such as business industry, the citizenship of the owners and whether other funding avenues have been exhausted. |
| Funding amounts | ★★★★☆ | The funding limit is $500k, which isn’t as high as a term loan but still comparable to other options. |
An SBA Express loan might be the best fast business loan for you if:
- You’ve exhausted all other funding options
- You’re looking for an affordable loan
- You don’t need the funds immediately
Bankrate insight
As of August 2025, the SBA approved a total of 20,810 Express loans with over $2 million in funding, according to the SBA’s weekly lender report. The average loan size was $105,656, compared to the average 7(a) loan size of $457,070.
Merchant cash advances
Merchant cash advances (MCAs) offer funding to businesses that conduct the bulk of their transactions with credit and debit card charges, allowing them to borrow against a percentage of their future transactions. Funding is quick, and often requires no credit checks.
The key drawback is the fees. MCAs tend to have high factor and interest rates, sometimes translating in 50 to 90 percent APR. You’ll also need to have a sizable number of regular debit and credit card transactions to borrow against.
| Speed | ★★★★★ | They’re uniquely quick, sometimes offering funding within 48 or even 24 hours of application. |
| Cost | ★★☆☆☆ | MCAs tend to have high factor rates, sometimes translating into a 90 percent APR. |
| Requirements | ★★★★☆ | MCAs are accessible for those with bad credit, often requiring no credit checks at all. However, you will need to have a sizable number of regular credit/debit card transactions to qualify. |
| Funding amounts | ★★★☆☆ | Funding is limited to a percentage of your future credit/debt card charges, often with fees factored in. |
A merchant cash advance might be the best fast business loan for you if:
- You don’t qualify for other funding types
- You have a large number of card transactions to borrow against
- You don’t mind paying high fees
Invoice financing/factoring
Invoice factoring and financing allow you to borrow against your existing invoices, giving you cash up front in exchange for a percentage of your invoice charges.
This funding type doesn’t require a credit check, making it an accessible and quick way to get funds. However, the fees per invoice can be as high as 5 percent – and, if your clients don’t pay their invoices on time, you can be hit with steep late fees.
| Speed | ★★★★★ | Invoice factoring can often disburse within 24 to 48 hours. |
| Cost | ★★☆☆☆ | Factoring fees are often high, ranging from 1 to 5 percent of each invoice, with steep late fees if your clients don’t pay on time. |
| Requirements | ★★★★☆ | You can get financing without a credit check, but you’ll need to have a sizable number of invoices to borrow against and clients who pay on time. |
| Funding amounts | ★★★☆☆ | Financing is limited to a percentage of your outstanding invoice charges. |
Invoice financing/factoring might be the best fast business loan for you if:
- You don’t qualify for any other funding types
- You have a steady supply of invoices to borrow from
- Your clients pay their invoices on time
Bottom line
With their swift funding and flexible eligibility criteria, quick loans serve as lifelines for small businesses facing urgent financial needs. While beneficial in times of need, steep borrowing costs and short repayment terms can make repayment difficult. Businesses seeking fast financing need to weigh their options thoughtfully before applying for a fast business loan to ensure it is the best fit for their specific needs and financial circumstances. Borrowers should consider the loan’s total cost and whether they can successfully manage the business loan within their business budget.
Frequently asked questions
-
The fastest way to get a business loan is to apply for one through online lenders or financial technology companies, which often offer quick approval and funding. Additionally, when applying, ensure the application is complete and accurate, and you have provided the necessary loan documentation to your lender to ensure the timely processing of your application.
-
The ease of getting approved for a loan is based on the borrower’s qualifications and the lender’s criteria. Due to its flexible lending requirements, fast business loans tend to lower eligibility requirements, helping borrowers with lower credit scores.
-
It is possible to get fast business loans with an LLC. But as a start-up with limited history in business or limited revenue, getting approved can be more difficult and you may have fewer options. Obtaining a fast loan could require finding financing through alternative lending sources, which often involve higher interest rates.
-
Yes, it is possible to get business loans in 24 hours. Some lenders even offer same-day funding.
Methodology
-
Loan speed is an integral metric when businesses need funding quickly. Some lenders are able to disburse loans on the same day as they’re approved, while others may take longer. We based our speed ratings on the current fastest lender dispersal times in the industry. Keep in mind that while some lenders disburse loans quickly, they may charge higher interest rates and fees.
Rating Criteria ★★★★★ Funds within 48 business hours ★★★★☆ Funds within two to five business days ★★★☆☆ Funds within one to two weeks ★★☆☆☆ Funds within three to six weeks ★☆☆☆☆ Funds take over six weeks/funding timeline unclear -
Loan costs can be roughly calculated by the APR, which encompasses both the interest rate and fees involved with the loan. We’ve based our cost calculations on the current average APR for various loan products in the industry, as well as the Federal Reserve rate, which sets the standard for most loan costs.
Rating
Criteria
★★★★★
APR of 0 to 4% above Fed rate
★★★★☆
APR of 4 to 8% above Fed rate
Factor rate of
★★★☆☆
APR of 8 to 12% above Fed rate
★★☆☆☆
APR of 12 to 20% above Fed rate
★☆☆☆☆
APR of 20% or more above Fed rate
-
Loan requirements will vary among different lenders and lending products, with some being more accessible than others. Some loan products will have no credit or revenue minimums at the cost of being difficult to obtain, or having high interest rates. Other products may come with certain criteria around business size, ownership or industry. We based our ratings on the current criteria for the most popular lending products available for businesses.
Rating
Criteria
★★★★★
No credit score minimum
No revenue minimum
★★★★☆
Credit score minimum below 600
Revenue minimum of $30K
One or two extra criteria
★★★☆☆
Credit score minimum of 600+
Revenue minimum of $50K
Three or more criteria, or specialized criteria
★★☆☆☆
Credit score minimum of 700+
Revenue minimum of $100k
Extremely specialized criteria
★☆☆☆☆
Credit score minimum of 800+
Revenue minimum of $500K
Narrow criteria
-
Different lending products will have different upper limits on how much borrowers can apply for, based both on the nature of the product and the applicant’s revenue and credit score. We based our funding ratings on both funding amounts available for the most popular business lending products, and Federal Reserve data on the average loan size for small businesses.
Rating
Criteria
★★★★★
Funding over $500K
★★★★☆
Funding up to $500k
★★★☆☆
Funding up to $50k
★★☆☆☆
Funding up to $10k
★☆☆☆☆
Funding up to $5k
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