Short-term business loans provide quick access to capital for companies needing to cover unexpected expenses or seize growth opportunities. These loans typically offer amounts from $5,000 to $500,000 with repayment terms of 3 to 18 months. While interest rates may be higher than traditional loans, approval times are often much faster, sometimes within 24 hours.
When choosing a short-term loan, it’s crucial to compare rates, terms, and eligibility requirements across lenders. We’ve researched the current lending landscape to identify the top options for businesses seeking fast, flexible financing in 2025.
BlueVine: Best Overall Short-Term Business Loan
BlueVine stands out for its flexible line of credit offering up to $250,000 with competitive interest rates starting at 7.8%.
Key features:
- Loan amounts: Up to $250,000
- Interest rates: Starting at 7.8%
- Repayment terms: 6 or 12 months
- Minimum credit score: 625
- Time to funding: As fast as 24 hours
How to qualify:
- 12+ months in business
- $120,000+ annual revenue
- 625+ personal FICO score
- Must be a corporation or LLC
BlueVine’s quick application process and same-day funding make it an excellent choice for businesses needing immediate capital. The revolving line of credit allows you to draw funds as needed, paying interest only on the amount used.
Lendio: Best for Newer Businesses
Lendio is a loan marketplace connecting businesses with over 75 lenders, increasing approval chances for newer companies.
Key features:
- Loan amounts: $10,000 to $5 million
- Interest rates: Starting at 8.49%
- Repayment terms: 6 months to 7 years
- Minimum credit score: 600
- Time to funding: 1-3 business days
How to qualify:
- 12+ months in business
- $96,000+ annual revenue
- 600+ credit score
Lendio’s diverse lender network and flexible qualifications make it ideal for businesses with limited operational history. Their funding managers help you navigate options to find the best fit.
Fundbox: Best for No Collateral
Fundbox offers lines of credit up to $150,000 without requiring collateral, making it accessible for businesses without significant assets.
Key features:
- Loan amounts: Up to $150,000
- Interest rates: 4.66% for 12-week terms, 8.99% for 24-week terms
- Repayment terms: 12 or 24 weeks
- Minimum credit score: 600
- Time to funding: As soon as next business day
How to qualify:
- $30,000+ annual revenue
- 3+ months of business transaction history
- 600+ personal credit score
- Business checking account
Fundbox’s fast application process and flexible repayment options make it a strong choice for businesses needing quick, unsecured funding.
Credibly: Best for Low Credit Scores
Credibly considers factors beyond credit scores, making it accessible to businesses with scores as low as 500.
Key features:
- Loan amounts: $25,000 to $600,000
- Factor rates: Starting at 1.11x
- Repayment terms: 6 to 24 months
- Minimum credit score: 500
- Time to funding: Same-day in some cases
How to qualify:
- 500+ credit score
- $15,000+ monthly revenue
- 6+ months in business
Credibly’s working capital loans and merchant cash advances provide options for businesses that may not qualify for traditional financing due to lower credit scores.
OnDeck: Best for Fast Funding
OnDeck specializes in rapid approvals and funding, often providing capital within 24 hours of application.
Key features:
- Loan amounts: $5,000 to $250,000
- Interest rates: Starting at 29.9% APR
- Repayment terms: 3 to 18 months
- Minimum credit score: 625
- Time to funding: As fast as same-day
How to qualify:
- 12+ months in business
- $100,000+ annual revenue
- 625+ personal credit score
OnDeck’s streamlined application process and quick funding make it ideal for businesses facing time-sensitive opportunities or urgent cash flow needs.
Kabbage: Best for Flexible Line of Credit
Kabbage offers lines of credit up to $250,000 with a unique fee structure and flexible draws.
Key features:
- Loan amounts: $1,000 to $250,000
- Fee structure: Monthly fees range from 1.5% to 10%
- Repayment terms: 6, 12, or 18 months
- Minimum credit score: 640
- Time to funding: Same-day to a few days
How to qualify:
- 12+ months in business
- $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months
- 640+ personal credit score
Kabbage’s line of credit allows businesses to draw funds as needed, paying only for what they use. The monthly fee structure can be beneficial for businesses with irregular cash flow.
PayPal Working Capital: Best for PayPal Users
PayPal Working Capital provides loans based on PayPal sales history, offering a unique option for businesses that process payments through PayPal.
Key features:
- Loan amounts: $1,000 to $300,000
- Fixed fee: One-time fee based on loan amount, PayPal sales history, and repayment percentage
- Repayment terms: Repaid automatically as a percentage of PayPal sales
- Minimum requirements: No credit check required
- Time to funding: Minutes after approval
How to qualify:
- PayPal Business or Premier account for at least 3 months
- $15,000+ in annual PayPal sales for first loan
- No outstanding PayPal Working Capital loans
PayPal Working Capital’s repayment structure, which adjusts based on sales, can be advantageous for businesses with fluctuating revenue.
Choosing the Right Short-Term Business Loan
When selecting a short-term business loan, consider these factors:
- Loan amount: Determine your exact funding needs to avoid over-borrowing.
- Interest rates and fees: Compare total costs, including any hidden charges.
- Repayment terms: Choose a schedule that aligns with your cash flow.
- Approval and funding speed: Prioritize lenders with fast processing if you need immediate capital.
- Qualification requirements: Ensure you meet the lender’s minimum criteria for credit score, time in business, and annual revenue.
- Lender reputation: Research customer reviews and the lender’s track record.
- Collateral requirements: Decide if you’re comfortable securing the loan with business assets.
- Prepayment options: Look for lenders that allow early repayment without penalties.
Short-term business loans can provide crucial funding to navigate challenges or capitalize on opportunities. By carefully comparing options and choosing a loan that aligns with your business needs and financial situation, you can secure the capital necessary to drive your company forward.