Fast Business Loans
Get quick cash flow for immediate business needs.
Easy application process and same-day approval.
No collateral needed to qualify for low-rate funding.
- Instant approval and funding within 24 hours
- Get financing from $10K to $5M
- APR starting at 6%
- Flexible repayment options
- 6-month to 2-year loan terms
Won’t impact your credit
Rated
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Business owners love us because we treat them like family and provide instant funding.
Quick application
Your time is valuable. Our online application takes just 2 minutes to get approved.
Dedicated loan advisors
We do all the paperwork and you get money in your bank account the same day.
How To Get a Fast Business Loan: A Comprehensive Guide and FAQ
This guide explores how to secure fast business loans, outlining various options and their benefits to help entrepreneurs make informed decisions about funding their growth and managing unexpected expenses.
Running a business means dealing with emergencies where you need access to working capital. Sometimes, customer payments get delayed, or sales are slow. Even a huge demand for your products can have you scrambling for more cash to purchase inventory.
Fortunately, small-business loans can help you keep operations going smoothly during times like these.
Fast business loans are financing options with a quick approval process. Online lenders typically offer these types of business loans with less strict eligibility requirements than traditional banks or credit unions. They also tend to have a streamlined online application process so that you can receive your funding within days.
But just because you can get approved doesn’t mean you should go with just any business loan option. Consider the qualifications, interest rates, and fees to make sure you have the right type of financing.
The good news is that when you work with Configure Capital, you’ll get matched with an advisor who will work with you every step of the way. Your advisor can help you choose the best financing option based on your business needs and the qualifications you can meet. And with a marketplace of more than 75 lenders, you’re sure to get the best loan offers.
6 Fast Business Funding Options
Whether you need capital to take advantage of profitable business opportunities, repair a crucial piece of equipment, or cover operating expenses, we have you covered. When you partner with Configure Capital, your advisor will help you choose a loan based on your needs and goals.
Let’s explore some of the best fast business loans you can apply for through Configure Capital.
1. Short-Term Business Loan
Small-business owners can get unsecured short-term loans with no collateral requirements. With business term loans, borrowers receive the loan amount in a lump sum.
For short-term unsecured business loans, you repay the loan plus interest in fixed monthly payments within a predetermined repayment schedule. The term length is usually six months to two years.
2. Business Line of Credit
A business line of credit is a flexible financing option that works similarly to business credit cards (but often at much lower interest rates than a credit card). With this type of financing, you get access to a revolving credit limit, so you can draw funds as needed and only pay interest for the amount you borrow.
Borrowers who meet the criteria can get approved instantly for a credit line. Many business owners receive the funds in their business bank accounts within hours of approval. That’s why it’s a good financing solution for businesses that want fast access to cash when needed.
3. Invoice Financing
Invoice factoring allows you to borrow money using unpaid invoices as collateral. It’s a popular fast funding option for small businesses that sell products and services on credit. There’s no personal credit score requirement, so it’s a good financing solution for small-business owners with bad credit.
In a factoring agreement, you receive up to 100% of the total invoice value in exchange for a fee. You turn over your accounts receivables to the factoring company. Then, they collect from your customers when the invoices are due.
4. Equipment Loan
Equipment financing lets business owners borrow money to buy machinery. You can borrow up to 100% of the cost of the equipment. Repayment terms depend on the useful life of the asset.
It’s a form of asset-based financing, which means the equipment you want to buy acts as collateral for the loan. So, lenders are less strict with minimum credit score requirements. Business lenders don’t require a prepayment or personal guarantee for equipment loans, making it a great option for new businesses or startups.
5. SBA Microloan
Microloans are one of the loan programs available through the U.S. Small Business Administration (SBA). SBA loans have some of the lowest interest rates because they’re guaranteed. So, if a borrower defaults on the loan, the government pays the lender up to 85% of the unpaid balance.
Small-business owners can borrow up to $50,000 through the Microloan program. You can apply for funding through SBA-approved nonprofit organizations. Each lender has their own credit check requirements, but most will ask you to sign a personal guarantee or provide collateral to secure the loan.
A personal guarantee means you agree to be responsible for the debt. So, if your business defaults on the loan, the guarantee gives the lender the right to your personal assets.
6. Merchant Cash Advance
With a merchant cash advance (MCA), your business can get funding in exchange for a percentage of your future sales. It’s a quick business loan option without collateral or personal credit requirements.
With this small-business financing, you receive a lump sum based on your credit rating and past sales receipts. Then, you pay back the advance through automatic withdrawals from your credit card sales or merchant account daily or weekly.
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Minimum Requirements
Here are the basic requirements to qualify for a fast business loan. Even if you have bad credit, your Configure Capital advisor will guide you through it.
$10,000 in monthly revenue
Your business must be earning at least $10K per month in a business bank account.
500+ credit score
You can get approved with any credit score. But keep in mind that the higher your credit rating, the better deal we can secure for you.
Over 6 months in business
Your company should be operational for at least six months. This shows lenders that your business model is sustainable.
Have a business bank account
Your Configure Capital advisor will need 3 months of your most recent bank statements to verify income.
Small Businesses ❤️ Configure Capital
I highly recommend Configure Capital
Configure Capital was extremely helpful from the beginning. They always kept me informed about the process. My loan was processed in a timely manner. I recommend them to anyone seeking quick funding.
Joseph Carlos
Great experience
Adam made my experience very smooth. He always communicated with me and he is very easy to talk to. Within 24 hours I had my funds.
Max Mannot
Have gotten multiple loans from Configure Capital over the years
I’ve been working with Configure Capital for almost 2yrs now, they have helped me fund my business in times of need and went way above and beyond. I really appreciate everything Configure Capital has done for me.
D. Justin Andrew
When Should You Get a Fast Small Business Loan?
Veteran entrepreneurs say the best time to apply for a loan is when you don’t need it. It’s great advice, but not everyone has that foresight, and it’s not always feasible for new business owners.
Quick business loans are sometimes the best financing solution, as shown in the examples below.
1. To Take Advantage of Profitable Opportunities
In running your business, there are times when you have to make quick decisions and actions to make a profit or achieve your goals. Say you have a boutique that runs out of inventory in the middle of the peak season. You don’t want to close your shop or tell customers you don’t have the items they want.
In this case, it makes sense to take out a loan so you can buy more inventory. A fast loan is just what you need to buy the products, sell them, make money, and pay off your debts.
2. For Equipment Repairs and Upgrades
Every piece of equipment has a limited life span. When a crucial part of your business breaks down or becomes obsolete, repairs and upgrades are necessary to keep your operations going.
Repairs and equipment can be expensive, but you can use quick loans to afford the cost of repairs or new equipment. This way, you aren’t taking out capital from your business and compromising your cash flow.
3. To Buy Materials for a Large Order
You work hard to bring in more sales to your business. But what happens if you need to fill a large order and don’t have enough materials or manpower?
You’ll need to purchase materials or bring in extra workers. It can make sense to get funding through working capital loans like a business line of credit or short-term loans.
4. To Manage Seasonal Cash Flow Gaps
Retail, manufacturing, and transportation industries have seasonal trends where sales slow down. Some companies can cut back on expenses during these times, but it’s not always possible.
If you’re experiencing a downturn, you can bridge the gap with a quick business loan. A short-term loan helps you stay afloat and get your company back on track to success when peak season starts.
5. To Hire Employees and Meet Demand
Employees make the products and deliver services that create value for your business. But hiring and training employees come with an added expense that you may not have the budget for.
The capital you receive from a small business loan can provide the funds you need to hire new people. With more people, you can increase the number of products you make or customers you serve, meaning greater profits.
6. To Promote Your Business
Some businesses can grow from word of mouth and referrals as a way of advertising. In fact, these methods are great for getting a business started. But advertising and marketing your business is a necessary investment.
You can’t just have amazing products and expect people to find you on their own. You need to let customers know you exist and your products are the solutions to their problems.
Alternatives to Fast Business Loans
Here are common alternative funding options that we’ve provided business owners. Your loan advisor will guide you through all options so you can make the best decision.
You deserve low rates and an honest lender who has your back.
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Why Configure Capitall Is Your No. 1 Source for Fast Business Loans
A fast business loan can help entrepreneurs facing immediate financial needs or looking to capitalize on timely opportunities. Whether for purchasing inventory, managing cash flow gaps, or making critical repairs, fast financing options like those offered through Configure Capitall provide a lifeline.
With a variety of loans available, from short-term loans to merchant cash advances, and the support of advisors to guide you through the selection process, you have the resources to choose the best option for your situation.
The key to successful borrowing lies in not just obtaining quick funds but selecting the right financing for your business goals and financial health. With Configure Capital, you can borrow confidently, keeping your business on the path to growth and success.
Fast Business Loan FAQ
Getting access to capital fast might be the best news for your business, so you probably want to know more! Here are answers to common questions about fast business loans from entrepreneurs like yourself.
Loan Basics and Eligibility
What Is the Easiest Business Loan To Get?
The eligibility criteria vary for every lender and each type of loan. But quick loans are fairly easy to qualify for as long as you work with online lenders since traditional lenders typically have stricter requirements.
First, identify your goals and needs. Then, find the right business funding and lender for you. Depending on the criteria you meet, you can get approved for short-term loans, lines of credit, invoice financing, or equipment loans.
How Can I Get a Fast Business Loan?
Preparation is key to getting the funding you need. Check your credit score and do your homework. Make sure you have relevant documents about your company. These include tax returns, business licenses, bank statements, and financial statements.
What Credit Score Do I Need To Qualify for a Small Business Loan?
The minimum credit score we recommend is 550. However, the better your credit score, the better interest rates and loan terms you’ll get.
However, at Configure Capital, we strive to provide you with funding whether you have excellent or poor credit. If you have questions about your credit history, call us and talk to an advisor to explore your options.
How Much Downpayment Is Required for a Quick Term Loan?
Zero. There’s no down payment needed to secure financing with Configure Capital. We want to make the loan application process as easy and transparent as possible. There are no hidden fees, and you’ll be matched with a Configure Capital advisor who will walk you through the entire process.
Can You Get a Loan As Soon as You Start a Business?
Getting a loan for a brand-new business can be challenging, but it’s not impossible. Here are some key points to consider:
Traditional lenders are cautious. Banks and credit unions typically prefer businesses with a track record of at least 1-2 years. They want to see evidence of stable revenue and profitability.
Alternative options exist. New businesses may have better luck with alternative lenders, online lenders, or microloans. These often have more flexible requirements for startups.
Personal credit matters more. Without business history, lenders will heavily weigh your personal credit score and financial history. A strong personal credit score can significantly improve your chances.
Collateral can help. Securing a loan with personal assets or business equipment can make lenders more willing to take a chance on a new venture.
Consider startup-specific financing. Look into options like SBA microloans, which are designed for new and very small businesses.
Prepare a solid business plan. A comprehensive plan that shows your research, projections, and strategy can help convince lenders of your business’s potential.
At Configure Capitall, we understand the unique challenges faced by new businesses. While we do have minimum time-in-business requirements for some products, we offer various financing options and can work with you to find potential solutions, even if your business is just starting out. Don’t hesitate to reach out to discuss your specific situation.
Financial Considerations
Are Business Loan Payments Tax Deductible?
Yes, the interest paid on a business term loan is tax-deductible. It helps businesses lower the overall cost of borrowing. However, you can’t use the principal amount as a deductible.
If you paid for office rent, purchased equipment, bought inventory, or had any other operating costs, you can claim the expenses against your profits. Speak to a tax professional or accountant for more information about business expenses.
Can Applying for a Fast Business Loan Hurt Your Credit?
No, we only do a soft credit pull. When you apply to get pre-approval for funding or an interest rate quote, Configure Capital does a soft credit inquiry. It doesn’t affect your credit rating in any way.
What Are Some Tips for Avoiding a Higher Interest Rate?
Improve your credit score. A higher credit score can lead to more competitive rates on business loans. Focus on building your credit to qualify for more favorable terms.
Consider secured loans. These loans typically offer lower interest rates due to the collateral requirement. If you have assets to leverage, this could be a cost-effective option.
Negotiate loan terms. Discuss potential adjustments with lenders that could result in better rates. Don’t hesitate to ask about more favorable conditions.
Opt for shorter repayment periods. Shorter terms often come with lower interest rates. If you can manage higher payments, this strategy could save you money in the long run.
Make larger down payments. If possible, putting more money down upfront can reduce your overall borrowing costs. This demonstrates financial stability to lenders and may result in better terms.
What Is the Annual Percentage Rate (APR) for Fast Business Loans?
The Annual Percentage Rate (APR) represents the total annual cost of borrowing, including both interest and fees, expressed as a percentage of the loan amount.
Fast business loans may have varying APRs depending on factors like your creditworthiness and the lender’s terms. At Configure Capital, we offer transparent APRs to help you understand the true cost of borrowing and make informed financial decisions.
Loan Amounts and Qualifications
How Much Working Capital Can I Qualify For?
The amount of working capital you qualify for depends on several factors, such as your:
Time in business
Annual revenue
Credit rating
Lenders use your credit score and time in business to assess your creditworthiness. They also use your monthly revenue to determine your loan amount. So, you might be able to get a loan amount equal to your monthly revenue.
Are There Any Collateral Requirements To Get a Fast Loan?
No, the short-term loans and business lines of credit you can apply for through Configure Capital don’t have collateral requirements. We provide unsecured financing, meaning you don’t need to put up any assets as collateral to get approved.
How Much Business Financing Can You Get?
Lenders base the loan amount you can get approved for on different factors, such as your credit rating, time in business, and annual revenue. The amount you can borrow depends on the loan you’re applying for.
For instance, you can borrow up to 100% of the equipment you want to buy with equipment financing. Invoice factoring also gives you cash upfront for a percentage of your unpaid invoices.
With Configure Capital, you can receive funding between $10,000 to $5M. We’ll help you choose the best loan depending on your business needs. Then, we’ll connect you to loan providers with the best factor rates.
Funding Process and Timelines
What Are Funding Times, and How Do They Impact My Loan?
Funding times — the duration from loan application to receiving funds — vary by lender and can significantly affect your loan experience. Fast funding is essential for urgent capital needs, enabling businesses to address emergencies or take advantage of immediate opportunities.
Quicker access to funds might come with higher interest rates or fees. Understanding the expected funding time helps you plan and budget for business expenses and make sure your financial strategies align with operational needs.
How Fast Can You Get A Business Loan?
At Configure Capital, we strive to keep things simple, convenient, and transparent. That’s why our online application is quick and easy. It takes just two minutes to fill out the online application form!
You can even get same-day funding if you meet the qualifications for the type of loan you’re applying for. Once your application is approved, you’ll receive funding in your bank account in one to two business days.
Types of Loans
What Is the Difference Between Loan Products and Business Loans?
While the term “loan products” includes a broad range of lending options available in the market, “business loans” are specifically tailored for business-related financing needs like operational costs, equipment purchases, and expansion efforts.
Business loans are a subset of loan products designed with the needs of businesses in mind, featuring various forms such as term loans, lines of credit, and merchant cash advances, each with unique terms and conditions. Recognizing the differences between these financial solutions is key to selecting the right type of funding for your business needs.
What Are Express Loans, and How Do They Differ from Traditional Business Loans?
Express loans, such as SBA Express loans, are designed for businesses needing quick funding access. Unlike traditional business loans, which may have longer processing times, express loans streamline the application and underwriting process to provide faster approval and funding. These loans often feature expedited underwriting processes, allowing businesses to receive financing within days rather than weeks.
Accelerate Your Business Growth with Smart Financing Choices
Fast business loans can be a game-changer for entrepreneurs with urgent financial needs and exciting growth opportunities. From short-term loans to equipment financing, the options we’ve explored offer flexible solutions to keep your business moving forward.
Remember, the key to successful borrowing lies not just in obtaining quick funds, but in choosing the financing option that aligns with your business goals. This is where Configure Capital steps in as your trusted partner.
Don’t let financial hurdles slow down your business growth. With expert guidance from Configure Capital, you can turn challenges into opportunities and keep your entrepreneurial vision on track. Get started and apply today.
Types of businesses we fund
Configure Capital provides same-day loans to any business located in the United States. Here’s just a few of them:
Ready for a quick business loan?
Get instant approval when you apply online. APRs starting at just 6%. Flexible repayment options are available for credit scores over 550.
