Best Same-Day Business Loans in December 2025
Same-day business loans can cover emergency expenses or fund a new opportunity. Some online lenders provide 24-hour loans, but be prepared to pay a higher price for the convenience.
Best same-day business loan lenders: More details
What is a same-day business loan?
Same-day business loans allow you to receive funds the day you’re approved or within 24 hours. You can use the loan funds to cover everyday or emergency business expenses.
Typically offered by alternative online lenders, same-day business funding utilizes streamlined application software to make speedy decisions.
While fast business lending can help keep your business afloat during times of need, you could end up with a higher interest rate and less flexible repayment terms than other small business loans.
Types of same-day business loans
Many types of small business loans provide instant funding. Here are the most common options to consider for your last-minute funding needs.
Short-term business loans typically have a repayment term that is shorter than 24 months. With a term loan, a lender issues you a lump sum and you repay the loan on a regular schedule, such as daily, weekly, monthly or semimonthly.
Similar to a credit card, a business line of credit allows you to borrow money as needed to cover a range of business expenses. It offers more flexibility than a short-term loan since you can borrow, repay and borrow again. While you typically only pay interest on the withdrawn amounts, some lenders charge additional maintenance and withdrawal fees.
Although technically not a loan, a merchant cash advance (MCA) can provide a lump sum of cash in exchange for a portion of your future credit and debit card sales. After the company issues your funds, you repay the advance in daily or weekly installments from your earnings. However, many MCA lenders charge high factor rates, which can make this a more expensive manner of small business financing.
Invoice factoring is another way to access capital for urgent business needs. With this option, you can sell your unpaid invoices to a factoring company and receive a cash advance of around 70% to 90% of the face value. The factoring company then collects payments on your behalf, giving you the balance after subtracting a factoring fee (also called a discount rate).
While same-day business loans can help you access emergency funds within 24 hours, their high rates and short repayment terms can make them a more expensive form of financing. That said, some situations call for such speedy funding.
A same-day business loan could be a good fit for your business if
- You need help covering emergency cash flow problems.
- You can’t meet the strict eligibility requirements for traditional financing.
- You want to take advantage of an immediate opportunity for growth.
How to get a same-day business loan
If you decide a 24-hour loan is right for you, here are the general steps to take to get a small business loan.
1. Determine your timeline
You might be able to delay certain business expenses, but some situations can’t be postponed. For example, a broken pizza oven could be disastrous to your daily profits if you run a popular restaurant. However, you will likely find better rates and more flexible repayment terms if you’re able to delay financing, such as opting for an SBA loan.
2. Review your qualifications
Business loan requirements can vary by loan type and lender. However, most lenders usually look at the following when reviewing your small business loan application:
Credit score
Check your credit score before applying to see where you stand. Some same-day business lenders accept scores as low as 500. However, having a higher score can help you secure a better rate with more flexible terms.
Annual revenue
Many lenders want to see your business generating a steady cash flow before approving your loan application. In general, you need between $100,000 and $250,000 in yearly sales to qualify for same-day business loans, although lenders like don’t have any minimum revenue requirements.
Time in business
You typically need to be in business for at least 12 months to qualify for small business financing. However, some same-day business lenders have less stringent eligibility criteria and will work with startups or those with only a six-month business history.
3. Compare lenders
Once you have a list of the best same-day business loans that fit your needs, pay attention to each lender’s details. While some lenders advertise enticing offers, these so-called deals often come with hidden fees and strict prepayment penalties. You can read business lender reviews to ensure a lender is legit before signing on the dotted line.
Watch out for lenders trying to pressure you into borrowing more funds than you need or companies promising “no-credit-check” business loans. Stay up-to-date on the signs of predatory lending and read the fine print before signing any contracts.
4. Gather required documents
Getting essential paperwork in order can speed along the application process, ensuring you receive your funds within 24 hours. Here is a general list of what you might need to provide when applying for a small business loan:
- Business plan
- Personal and business tax returns
- Personal and business bank statements
- Business licensing and permits
- Information on existing debts
- A recent balance sheet
- A recent profit and loss statement
- A certificate of good standing
- Lease agreements, if applicable
5. Apply and review
As the name implies, same-day business loans may get approved and funded within 24 hours. However, this timeline isn’t guaranteed since many variables determine your overall funding speed. For example, if you submit your application late in the day and miss a few critical documents, you might have to wait an extra day or two before approval.
Thoroughly review the business loan agreement before moving forward. Remember, same-day loans don’t always offer the best rates and terms. You want to make sure you can handle the debt before agreeing to the terms.
How to compare same-day business loans
Picking the best same-day business loan can be challenging if you receive multiple offers. Here is a breakdown of what to look for when considering instant business loans.
Interest rate
Business loan interest rates will vary based on your credit score, the loan type and other criteria. Try to convert factor rates to annual percentage rates (APRs) to help you find the best deal. Also, remember that same-day business loans typically have higher rates than traditional business financing — a price you pay for the convenience of receiving money quickly.
Repayment term
Same-day business loans can have a range of repayment terms, typically three to 84 months or longer. Some lenders require daily, weekly, monthly or seasonal payments. Above all else, make sure your budget can handle the repayment schedule.
Time to fund
Read the lender’s fine print about how quickly funds could be deposited into your business bank account. For example, advertises same-day funding, but only if you pay an extra $15 for a bank wire transfer. The difference between one to three days can be significant when facing a crisis.
Additional fees
Thoroughly scour your loan contract for origination fees, late charges and business loan prepayment penalties. Extra fees can make or break a loan deal.
Collateral
You might need to provide collateral, like equipment or a cash down payment, when getting a secured business loan. This provides an extra layer of security in case you default on the loan. While unsecured business loans don’t require collateral, you might need to sign a personal guarantee, which puts your personal assets at risk.
Pros and cons of same-day business loans
Pros
-
Fast access to funds
If you need quick access to cash, same-day business loans can provide the funding you need to keep your business running during difficult times. -
Lower documentation and more lenient eligibility requirements
Along with the fast approval process, same-day business loans often require less application documentation. -
Available to applicants with poor credit
Because eligibility requirements are more lenient, same-day business loans may be an option if you have poor credit.
Cons
-
Potentially high costs
Some same-day business loan lenders charge high APRs and origination fees. -
May restrict your business growth
Growing your business with a high loan payment dragging you down could be a challenge for your budget. -
Can negatively impact your personal or business credit
If you make late payments or default on the loan, your business credit can suffer.
Alternatives to same-day business loans
While same-day business loans can help during emergencies or keep your business afloat during unexpected lulls, other financing options might be a better fit.
- Traditional bank loan: You can explore a wide range of small business solutions with a traditional lender, such as long-term business loans, lines of credit, commercial loans and more — though funding may take longer.
- SBA loans: Backed by the U.S. Small Business Administration (SBA), you can receive up to $5 million or more with the popular SBA 7(a) loan. Other options include SBA microloans or the quickest SBA loan — the SBA Express Loan.
- Business credit cards: With a business credit card, you can finance daily expenses like supplies, equipment, meals, travel and more. Approval times are typically within a few minutes, although interest rates are generally significantly higher than small business loans and lines of credit.
- Small business grants: You can apply for small business grants through various government agencies and private corporations. While the competition can be intense, receiving free money for your business can be worth the effort.
Our methodology: How to compare same-day business loans
We reviewed traditional and online lenders to determine the six best same-day business loans. To create our list, we evaluated the following criteria:
- Funding timeline: All of the lenders on our list offer funding within a 24-hour timeline. But keep in mind that’s not a guarantee of funding within 24 hours — even lenders who specialize in fast funding may take longer in certain situations, like if your business needs additional documentation to prove you can repay a loan.
- Rates and terms: We prioritize lenders with competitive rates, limited fees and greater options for repayment terms, loan amounts and APR discounts.
- Repayment experience: We consider each lender’s reputation and overall business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide unique perks and rewards to customers, like early payoff discounts and free business coaching.