What Are the Easiest Business Loans to Get: Complete Guide for Quick Business Financing
When your business needs funding quickly or you’re concerned about qualification requirements, understanding which business loans are easiest to get can save you time and improve your chances of approval. While “easy” is relative and depends on your specific business situation, certain types of business loans have more flexible requirements, faster approval processes, and higher acceptance rates than others.
This comprehensive guide explores the easiest business loans to obtain, what makes them accessible, and how to position your application for success.
What Makes a Business Loan “Easy” to Get?
Before diving into specific loan types, it’s important to understand what factors make certain business loans more accessible than others:
Flexible Qualification Requirements
Lower Credit Score Thresholds:
- Some lenders accept credit scores as low as 500-550
- Alternative scoring models that consider more than just credit scores
- Focus on business performance rather than perfect credit
Shorter Time in Business:
- Some loans available to businesses operating for just 6 months
- Less emphasis on extensive business history
- Willingness to work with newer enterprises
Simplified Documentation:
- Streamlined application processes
- Fewer required documents
- Bank statements instead of formal financial statements
Faster Approval and Funding
Quick Decision Making:
- Automated underwriting systems
- Same-day or next-day approval decisions
- Minimal manual review processes
Rapid Funding:
- Funding within 24-48 hours of approval
- Electronic fund transfers
- Less complex closing procedures
The 8 Easiest Business Loans to Get
1. Online Term Loans from Alternative Lenders
Why they’re easy to get:
- Streamlined online applications
- Alternative credit scoring models
- Fast automated underwriting
- Less stringent qualification requirements
Typical Requirements:
- Credit scores as low as 500-550
- 6+ months in business
- $50,000+ annual revenue
- Simple bank statement verification
Approval and Funding Timeline:
- Application: 10-30 minutes online
- Approval decision: Same day to 48 hours
- Funding: 1-3 business days
Loan Amounts: $10,000 to $500,000
Pros:
- Very fast process
- Flexible qualification criteria
- No collateral required for many loans
- Available to businesses traditional banks might reject
Cons:
- Higher interest rates (typically 15-50% APR)
- Shorter repayment terms
- Daily or weekly payment structures
- Factor rates instead of traditional interest rates
As we discussed in our guide on how business loans work, understanding the total cost and repayment structure is crucial before committing to any financing option.
2. Business Lines of Credit
Why they’re easy to get:
- Lower risk for lenders (you only pay interest on what you use)
- Flexible access to funds
- Many online lenders offer them
- Good option for businesses with fluctuating cash flow needs
Typical Requirements:
- Credit scores from 550-600+
- 6-12 months in business
- $100,000+ annual revenue
- Bank statements for verification
Approval and Funding Timeline:
- Application: 15-45 minutes
- Approval: 24-72 hours
- Access to funds: Immediate once approved
Credit Limits: $10,000 to $250,000
Pros:
- Only pay interest on funds used
- Revolving credit that replenishes as you repay
- Great for managing cash flow gaps
- No restriction on how funds are used
Cons:
- Variable interest rates
- Credit limits may be lower than term loans
- Personal guarantees typically required
- Annual fees may apply
3. Merchant Cash Advances (MCAs)
Why they’re easy to get:
- Based on credit and debit card sales volume
- Very fast approval process
- Minimal documentation required
- Available to businesses with poor credit
Typical Requirements:
- Credit scores as low as 400-500
- 3-6 months in business
- $5,000+ monthly credit card sales
- Bank statements showing card processing volume
Approval and Funding Timeline:
- Application: 10-20 minutes
- Approval: Same day
- Funding: 24-48 hours
Advance Amounts: $5,000 to $250,000
Pros:
- Extremely fast funding
- Repayment tied to sales (flexible during slow periods)
- No fixed monthly payments
- Available to businesses banks won’t fund
Cons:
- Very expensive (effective APRs often 50-100%+)
- Daily repayment from credit card sales
- Can create cash flow challenges
- Not technically a loan (it’s a sale of future receivables)
Important Consideration for Established Businesses: While these “easy” loans provide quick access to capital, established businesses with solid credit (580+), valuable collateral, and the ability to make substantial down payments often qualify for much better terms through traditional lenders. If your business has been operating successfully for over a year and you need significant funding ($100,000+), it’s worth exploring traditional financing options before settling for higher-cost alternatives.
4. Equipment Financing
Why they’re easy to get:
- Equipment serves as collateral, reducing lender risk
- Specialized lenders understand equipment values
- Strong approval rates for businesses buying productive assets
- Equipment manufacturers often have financing partnerships
Typical Requirements:
- Credit scores from 600-650+
- 1+ years in business
- Equipment serves as collateral
- Down payment of 10-20% may be required
Approval and Funding Timeline:
- Application: 20-60 minutes
- Approval: 24-72 hours
- Funding: 3-7 business days (after equipment inspection)
Loan Amounts: Up to 100% of equipment value
Pros:
- Competitive interest rates due to collateral
- Long repayment terms (matching equipment life)
- Equipment can be new or used
- May include soft costs like installation and training
Cons:
- Equipment can be repossessed if you default
- Limited to equipment purchases only
- May require down payment
- Equipment must maintain certain value
5. Invoice Factoring and Receivables Financing
Why they’re easy to get:
- Based on the creditworthiness of your customers, not just your business
- Invoices serve as collateral
- Fast approval process
- Good option for B2B businesses with strong customer base
Typical Requirements:
- Credit scores from 550+
- Outstanding invoices from creditworthy customers
- 30-90 day payment terms on invoices
- Verification of customer relationships
Approval and Funding Timeline:
- Application: 30-60 minutes
- Approval: 24-48 hours
- Funding: 24-48 hours after invoice verification
Funding Amounts: 70-90% of invoice value
Pros:
- Fast access to cash tied up in invoices
- Customer credit matters more than your credit
- No debt added to balance sheet (factoring)
- Can improve cash flow predictability
Cons:
- Customers may interact directly with factor
- Ongoing fees for each invoice
- May require long-term contracts
- Not suitable for businesses with long collection periods
6. Revenue-Based Financing
Why they’re easy to get:
- Repayment based on future revenue
- Less emphasis on credit scores
- Flexible repayment that adjusts with sales
- Growing number of lenders offering this option
Typical Requirements:
- Credit scores from 600+
- 12+ months in business
- $200,000+ annual revenue
- Consistent monthly revenue streams
Approval and Funding Timeline:
- Application: 30-90 minutes
- Approval: 3-7 days
- Funding: 5-10 business days
Funding Amounts: $10,000 to $1,000,000
Pros:
- Repayment adjusts with business performance
- No fixed monthly payments
- No collateral required
- Suitable for businesses with seasonal fluctuations
Cons:
- Can be expensive (12-30% of funded amount)
- Percentage of revenue goes to repayment
- May impact cash flow during growth periods
- Relatively new financing option with fewer providers
7. Microloans
Why they’re easy to get:
- Designed for small businesses and startups
- Mission-driven lenders focused on business development
- Lower qualification thresholds
- Often include business support and mentoring
Typical Requirements:
- Credit scores from 575-600+
- Business plan required
- Collateral may be required for larger amounts
- Some programs target specific demographics or industries
Approval and Funding Timeline:
- Application: 1-3 hours (more detailed)
- Approval: 1-4 weeks
- Funding: 1-2 weeks after approval
Loan Amounts: $500 to $50,000 (typically under $25,000)
Popular Microloan Programs:
- SBA Microloan Program
- Kiva Microfunds
- Accion
- Community development financial institutions (CDFIs)
Pros:
- Lower qualification requirements
- Business mentoring often included
- Competitive interest rates
- Designed to help small businesses grow
Cons:
- Smaller loan amounts
- Longer application process
- May require business plan
- Limited availability in some areas
8. Peer-to-Peer (P2P) Business Loans
Why they’re easy to get:
- Individual investors fund loans
- Alternative underwriting approaches
- Competitive marketplace drives approvals
- Technology-enabled processes
Typical Requirements:
- Credit scores from 600+
- 2+ years in business
- Strong business story/case for funding
- Financial documentation
Popular P2P Platforms:
- Funding Circle
- StreetShares (now part of Kearny Bank)
- Various marketplace lenders
Approval and Funding Timeline:
- Application: 30-60 minutes
- Approval: 3-7 days
- Funding: 5-10 business days
Loan Amounts: $25,000 to $500,000
Pros:
- Competitive rates for qualified borrowers
- Investor-friendly approval process
- Fixed-rate term loans available
- Technology-driven efficiency
Cons:
- Still requires good credit and financials
- Limited to businesses meeting investor criteria
- Platform fees may apply
- Newer lending model with less track record
Factors That Improve Your Chances with Any Loan
Strengthen Your Business Profile
Improve Your Credit Scores:
- Pay all bills on time consistently
- Reduce credit utilization ratios
- Correct any errors on credit reports
- Build business credit separate from personal credit
Demonstrate Business Stability:
- Maintain consistent revenue streams
- Show profitability when possible
- Keep detailed financial records
- Document business growth trajectory
Prepare Strong Documentation:
- Current bank statements (3-6 months)
- Tax returns (personal and business)
- Financial statements
- Business licenses and registrations
Choose the Right Lender Type
As we covered in our post about who gives small business loans, different lender types have different strengths:
For Maximum Speed and Flexibility:
- Online alternative lenders
- Fintech companies
- Non-bank lenders
For Better Rates (if you qualify):
- Community banks
- Credit unions
- SBA preferred lenders
For Specialized Needs:
- Industry-specific lenders
- Equipment financing companies
- Invoice factoring companies
Timing Your Application
Best Times to Apply:
- During strong sales periods
- When your bank balances are healthy
- Before you desperately need the funds
- When you can demonstrate recent growth
Avoid Applying When:
- Bank balances are at their lowest
- During seasonal slow periods
- After recent credit inquiries or new debt
- When financial records are outdated
Red Flags That Make Loans Harder to Get
Business Red Flags
- Declining revenue trends
- Negative cash flow
- Too much existing debt
- Industry-specific challenges
- Recent business changes or instability
Personal Red Flags
- Recent bankruptcies or foreclosures
- Outstanding tax liens or judgments
- Very recent credit inquiries
- High personal debt-to-income ratios
- Lack of business experience
Application Red Flags
- Incomplete or inaccurate information
- Unrealistic loan requests
- Vague or changing use of funds
- Poor communication during process
- Unwillingness to provide documentation
Making Your Application Stand Out
Create a Compelling Business Story
Demonstrate Growth Potential:
- Show how the loan will increase revenue
- Provide realistic growth projections
- Explain your competitive advantages
- Highlight market opportunities
Show Financial Responsibility:
- Explain how you’ll repay the loan
- Demonstrate cash flow management
- Show you’ve considered risks
- Provide contingency plans
Professional Presentation
Organize Your Documentation:
- Create a loan request package
- Label and organize all documents
- Provide clear explanations for any issues
- Include supporting materials
Be Responsive and Professional:
- Respond quickly to lender requests
- Ask clarifying questions when needed
- Follow up appropriately
- Maintain professional communication
Alternative Options If Traditional Loans Don’t Work
Creative Financing Solutions
Business Credit Cards:
- Easier approval than loans
- Immediate access to funds
- Rewards and benefits available
- Higher interest rates but flexible repayment
Supplier Financing:
- Extended payment terms from vendors
- Trade credit arrangements
- Equipment lease programs
- Inventory financing options
Revenue Sharing Agreements:
- Partner with investors for funding
- Share future revenue rather than fixed payments
- No debt on balance sheet
- Alignment of interests with funders
Building Toward Traditional Financing
If you can’t qualify for traditional bank loans now, use easier financing options strategically to build your business profile:
Strengthen Your Credit Profile:
- Make all payments on time to build business credit
- Work toward personal credit scores of 580 or higher
- Reduce existing debt obligations
- Establish credit relationships with multiple lenders
Build Business Assets:
- Accumulate equipment, real estate, or other valuable assets
- Maintain strong cash reserves (aim for 20%+ of loan amounts)
- Document asset values with appraisals when appropriate
- Consider how assets can serve as loan collateral
Demonstrate Operating Success:
- Focus on consistent profitability and growth
- Build at least 12-18 months of strong operating history
- Document revenue growth and business stability
- Prepare for larger funding needs (typically $100,000+)
Remember, the goal is often to graduate from alternative financing to traditional bank loans as your business strengthens. Established businesses with solid credit, valuable assets, and substantial funding needs often qualify for much better terms through traditional lenders than through the “easy” options discussed above.
Common Mistakes to Avoid
Application Mistakes
- Applying for loans you don’t qualify for
- Providing incomplete or inaccurate information
- Not shopping around for best terms
- Focusing only on approval odds, not total cost
- Applying to too many lenders simultaneously
Financial Mistakes
- Borrowing more than you can afford to repay
- Using expensive financing for long-term needs
- Not having a clear plan for using funds
- Ignoring the total cost of financing
- Not maintaining cash reserves for emergencies
Strategic Mistakes
- Choosing speed over cost when time allows
- Not building business credit for future needs
- Failing to establish banking relationships
- Using financing as a band-aid for operational problems
- Not having backup financing options
Making the Right Choice for Your Business
While these loans are generally easier to get, “easy” doesn’t necessarily mean “right for your business.” Consider these factors when choosing:
Match Financing to Need
Short-term cash flow: Lines of credit or invoice factoring Equipment purchases: Equipment financing Emergency funding: Online term loans or MCAs (as last resort) Growth capital: Revenue-based financing or term loans Seasonal needs: Lines of credit or seasonal financing
Consider Total Cost vs. Speed
The easiest loans to get are often the most expensive. Balance your need for speed against the total cost of financing:
- Can you wait longer for better terms?
- Is this truly an emergency or opportunity?
- Do you have other options available?
- Can you qualify for less expensive alternatives?
Plan for the Future
Use easier financing strategically to position your business for better financing options:
- Build payment history and business credit
- Grow revenue and improve financial metrics
- Establish relationships with traditional lenders
- Create multiple financing relationships
Next Steps: Qualifying and Applying
Understanding which loans are easiest to get is just the first step. Success requires proper preparation and strategic application. In our upcoming guide on “how do I qualify for a business loan,” we’ll dive deeper into specific qualification strategies and how to strengthen your application for any type of business financing.
For now, focus on:
- Assessing your actual needs – How much do you need and when?
- Evaluating your qualifications – Which loan types match your profile?
- Comparing total costs – What’s the true cost of each option?
- Preparing your documentation – Get organized before applying
- Shopping strategically – Apply to appropriate lenders for your situation
Get Expert Help Finding the Right Business Loan
At Solutions Financial Services, we specialize in helping established businesses secure substantial funding with competitive terms. We work with businesses that have been operating for over a year and need significant capital for growth, expansion, or major business investments.
Our lending partners prefer businesses that demonstrate stability and commitment through factors like:
- Established operating history and proven business performance
- Substantial funding needs that support real business growth
- Business owners with solid credit profiles
- Available collateral or assets that can secure favorable loan terms
- Ability to make meaningful down payments that reduce lender risk
This approach allows us to secure better rates, longer terms, and more favorable conditions than many of the “easy” financing options discussed above. While these easier loans can work for immediate needs, established businesses often benefit more from traditional lending relationships that provide substantial capital at competitive rates.
Our experienced team can help you evaluate whether you’re ready for traditional business financing or if you should start with alternative options to strengthen your business profile. We’ll guide you through the entire process and help you secure the business financing you need with terms that support your long-term success.
Contact us today to discuss your substantial funding needs and learn how we can help you access the capital your established business deserves.
This guide provides general information about business loan options and qualification factors. Specific requirements, rates, and terms vary significantly by lender and individual business circumstances. Always compare multiple options and read all terms carefully before making financing commitments. Consider consulting with financial professionals to determine the best financing strategy for your specific business needs.