How to Find Fast Financing

Sometimes you find yourself in a crunch and you need to find fast financing. Maybe you find yourself unable to pay an obligation with steep late payment penalties such as payroll or property taxes. Quick business financing solutions are more expensive than slower alternatives.

You will learn where and how to look so you can find the financing you need quickly with the best terms. In addition to reviewing loan options with short approval processes, we’ll explain how you can prepare to make the process as quick as possible.

5 Types of Fast Business Loan

If you’re looking for quick financing, there are a few loan options you can rule out right away. This includes traditional banks unless you have a strong relationship with them. You’ll be hard-pressed to find an SBA loan with a fast application process.

The following are quick and easy alternative financing options.

Small Business Loans from Online Lenders or Lines of Credit

Like traditional banks, many online lenders offer business lines of credit and term loans. Online lenders are a popular alternative to banks because of their quick funding processes and lenient qualification criteria.

You need to shop around to find the lender who has the quickest funding process and best repayment terms. It might not be hard to find online lenders who offer funding in less than five days.

Merchant Cash Advances

Merchant cash advances are a fast, flexible financing option for small business owners that make a large ratio of their sales through debit or credit. This is because MCAs are structured such that your remittances are made as a proportion of your credit and/or debit sales.

The more sales you make, the faster you pay your MCA back. Make sure to learn the pros and cons of MCAs before you apply.

SBA Loans or Government Disaster Loans

SBA 7(a) loans are not quick, but when natural or manmade disasters are declared, there are programs that provide emergency business loans.


Microloans are just like term loans but the amount is capped at around $50,000. Microloans pose less risk to the lender so the application process is not as strict.

Invoice Factoring

You can get access to cash within a few days with invoice factoring. Invoice factoring is much different than typical kinds of financing. So, it has some pitfalls you’ll want to be aware of, which you can read about in our post on the pros and cons of invoice factoring.

How to Speed Up the Financing Process

You cannot force a business financing lender to speed up the process for you. However, you can help them work faster by preparing yourself. You should have the documents complete and ready to go.

For traditionally structured types of financing, such as term loans and lines of credit, you need these documents:

  • Credit report
  • Bank statements
  • Tax returns
  • Income statement
  • Balance sheet
  • Budget and cash flow projections

Be ready to answer the lender any questions they may have. The faster your lender gets the information they need, the sooner you can get your working capital.

The Bottom Line

Some types of financing are not designed to disburse funds quickly. If you prepare well, respond to lenders questions, work with online lenders, and consider alternative financing, you can make it work.