Best Same-Day Business Loan Lenders in 2023

Need a business loan right this minute?

Most traditional lenders and many online lenders take days to approve you and even more days to fund you, but there are some lenders that can get you funded faster―like today. And we found the best ones. We graded lenders on loan costs, funding times, borrow requirements, and more to find the 10 best same-day lenders. (And no, they’re not all merchant cash advance companies.)

Since you’re in a hurry, we’ll tell you now that Bluevine is our favorite same-day lender (thanks to its low rates). If you have a minute, though, we’d love to tell you more about Bluevine and our other nine picks.

While you can get a business loan the same day you apply, we should warn you that speed often comes at a cost―and a pretty literal one at that.

Most lenders that offer same-day approval and same-day funding are online lenders (also called alternative lenders). They tend to cost more than traditional lenders (banks)―a whole lot more, in many cases.

It doesn’t help that many of the financing companies that offer same-day funding are merchant cash advance providers. Merchant cash advances (MCAs) are one of our least-favorite financing options for businesses, since they come with very high fees. And cash advance providers often disguise the high cost with confusing fee structures.

You can think of them kind of like the payday loans of the business world―expensive and sometimes pretty predatory.

Fortunately, we did find lenders that offer other loan options, like term loans and lines of credit. But to qualify for these more affordable financing options, you’ll need to meet stiffer borrower requirements―and even then you’ll end up paying more than you would for a traditional business loan from a bank. 

So borrow carefully. We know you’re in a hurry, but take the time to do the math and make sure you can afford your same-day funding.

Bluevine offers our favorite same-day business financing option.

Bluevine doesn’t technically offer a small-business loan. Instead, it has a business line of credit―a flexible financing option you can use over and over again. We love business credit lines, since they make a great cash flow solution for all kinds of business expenses.

And Bluevine offers a better-than-average business line of credit. Its interest rates start quite low (under 5%), making Bluevine far more affordable than most alternative lenders. Given the usual costs of fast financing, Bluevine’s low interest rates look extra nice.

You can get approved for a Bluevine business credit line in a matter of minutes. Then you can choose how to get your money. If you’re in a hurry, pick a wire transfer to get your money within a few hours. (You will have to pay a $15 fee.) Otherwise, Bluevine will use an ACH transfer to get money in your bank account within a day or two.

Now, Bluevine has higher borrower requirements than most lending companies on this list. It asks for a decent credit score (600) and plenty of revenue ($10,000 a month, or $120,000 a year), while most lenders ask for one or the other. And while Bluevine has low starting rates, you may get offered a higher interest rate.

Even with those caveats, Bluevine’s low financing costs and fast approval times make it our top pick for same-day business funding.

Think you’ll need another (maybe less urgent) business loan down the line? Apply with OnDeck to get some great benefits for repeat borrowers.

OnDeck offers short-term business loans and lines of credit. If you apply and get (near instantly) approved before 10:30 am EST, you can get funding the same day you apply. But speed is just part of OnDeck’s charm. It also reports to credit bureaus, which means you can improve your credit with OnDeck financing. That way, you can qualify for better loans (and lower rates) in the future.

Repeat OnDeck borrowers can also get lower origination fees and even waived interest (on your original loan when you take out a new loan). But even with those perks, OnDeck isn’t cheap. It has a very high double-digit starting APR, with max rates going much higher. So OnDeck does work best as a stepping stone to other, cheaper loans.

All the same, OnDeck offers same-day funding with great perks for future financing needs.

Buying equipment? Balboa Capital offers our favorite source for same-day equipment loans.

Balboa Capital technically has term loans too, but we mostly love its equipment financing. Balboa offers loans of up to $500,000 (the highest loan amount of our top five lenders), making it possible to buy even pricey equipment. And Balboa lets you use its equipment financing on everything from vehicles to machinery to software―so it can work for businesses in all industries.

All that makes Balboa Capital one of the best equipment financing lenders. That said, Balboa doesn’t list interest rates. So while equipment loans usually have pretty competitive rates, we don’t know exactly what to expect from Balboa. And Balboa Capital also asks for above-average credit scores, making it harder to qualify for than some other lenders on this list.

If you’ve got the credit score, though, Balboa Capital’s same-day loans offer a fast way to get the equipment your business needs.

Willing to use personal loans for your small business? Then take a look at Rocket Loans.

Unlike the other lenders on this list, Rocket Loans offers personal loans―not business loans. But it’s one of the few personal lenders that lets you use its personal loans for business reasons. And Rocket Loans tops our list of the best personal loans for business thanks to its same-day funding speeds and competitive APR.

Plus, as a personal lender, Rocket Loans doesn’t care about your business age or business revenue. You will still need solid income to get approved, though. And don’t expect to get large loan amounts from Rocket Loans. Its personal loans top out at $45,000―the lowest maximum loan amount on this list (by far).

But if you can deal with those downsides to personal loans, Rocket Loans can get money in your personal bank account later today.

Got a low credit score? That’s not a dealbreaker for Forward Financing.

Forward Financing accepts credit scores as low as 500, meaning even business owners with bad credit can qualify for its funding. And as long as you get approved by 3 pm EST, you can pay for a wire transfer to get money the very same day.

Now, Forward Financing is a merchant cash advance provider. And normally, we’re not a huge fan of cash advances and the companies that offer them. (And the fact that Forward Financing doesn’t list starting fees doesn’t help.) But Forward Financing gets very, very good customer reviews―a 4.9 out of 5 on Trustpilot.¹ That makes it much better liked than other same-day cash advance companies.

So while we still don’t love merchant cash advance, Forward Financing’s positive reviews and low credit requirements make it a solid choice for business owners with bad credit.

We think the five funding companies reviewed above offer the most value to the most business owners. But in some cases, they may not be quite the right fit. In that case, you might like one of these honorable mentions instead.

Keep in mind that our top five picks offer same-day approval and same-day funding. All our honorable mentions offer same-day approval, but some of them offer next-day funding―not same day. (We’ll point them out as we go.)

If you sell on popular ecommerce marketplaces, you might like Payability’s same-day cash advances.

Payability offers merchant cash advances to ecommerce sellers. It connects to marketplace accounts (like your Amazon, eBay, or Shopify account) and uses your platform revenue to decide whether or not you qualify for an advance. As a nice feature, Payability accepts younger businesses than many cash advance providers.

At the end of the day, though, Payability cash advances can cost a lot. So while it can be a good option for ecommerce sellers, make sure you can afford Payability funding.

Does your small business process sales through PayPal? Then let us tell you about PayPal Working Capital.

PayPal Working Capital offers short-term loans to PayPal users who process enough sales. PayPal bases your creditworthiness almost entirely on your PayPal sales history―so it doesn’t care about your credit score or even your total business revenue. That makes PayPal Working Capital easier to qualify for.

But PayPal has to decide to offer you a loan―you can’t apply―and we suspect its loans cost a lot. That means we can’t broadly recommend PayPal Working Capital, though it may be a good fit for your specific business.  

Fundbox works with younger businesses than any other lender on this list. So if you’ve got a new startup, give Fundbox a look.

Fundbox offers business lines of credit (like Bluevine and OnDeck). And while Fundbox generally expects businesses to have been around for at least six months, it will work with much younger businesses―down to two months old.

Unfortunately, Fundbox offers same-day approval but only next-day funding. Still, if you can wait one day for money (knowing it’s on the way), Fundbox offers the best loan option for very young small businesses.

Do you have a B2B business that invoices customers? Then Lendr might have the best funding for your small business.

Lendr offers invoice factoring (in addition to merchant cash advances). That lets you offer up yet-to-be-paid invoices as collateral. So Lendr gives you a percentage of the invoice’s value, and then when your customer pays the invoice you get the rest (with some fees taken out).

Like Fundbox, Lendr offers same-day approval and next-day funding. But if you can hold on until tomorrow, Lendr can help you get a lot of value out of your invoices.

If you process payments through Square, you may be able to access its quick funding too.

Square offers short-term loans to some Square users. Like PayPal Working Capital, Square looks just at your processed payments―not your time in business or credit score. So all sorts of business owners who can’t qualify for traditional funding can qualify for Square loans.

Note that Square loans has next-day funding, not same-day. You can get approved for a Square loan today, though, and it still works faster than most lenders out there.

When you need business financing in a hurry, we recommend turning to Bluevine. Its lines of credit come with low starting rates and offer enough flexibility for all sorts of businesses and expenses.

Not into Bluevine? No problem. OnDeck has all kinds of neat perks for repeat borrowers. Balboa Capital offers large same-day equipment loans. Rocket Loans gives you an option for using a personal loan on your business. And Forward Financing will fund even business owners with bad credit.

So whatever lender you choose, get your application in and you just might have money for your business later today.

Take just a minute to slow down and make sure you can afford your business loan with our business loan calculator.

After researching dozens of lenders, we narrowed our list down to lenders that offer same-day approval and same-day or next-day funding times. We then scored those lenders, using factors like loan options, interest rates, and customer reviews. We used those scores to rank and review our top same-day business lenders.

The easiest business loan to get depends on your specific qualifications, like your credit score, revenue, and business age.

If you need a really easy loan, Kiva loans have no specific borrower requirements (like credit score or business revenue). You just need time and a social network willing to support your business.

Otherwise, we recommend checking out our list of fast and easy business loans to find accessible lenders.

You’ll have a hard time getting a loan for a business you just started, as most lenders only work with businesses that have been around for at least six months.

Fundbox will work with younger businesses (as young as two months), but you’ll need a strong credit score and healthy revenue to compensate for your young business.

1. Trustpilot, “Forward Financing.” Accessed December 20, 2022.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.