Fast Business Loans

Get access to revolving funds quickly when you need it most

Dane Panes

Updated: January 7, 2022

How much are you looking for?

different types of loans

Fastest and Flexible Loan For Maintaining Cash Flow Of Your Small Business

Businesses often need access to fast cash to address time-sensitive business initiatives. It couldn  be to replace broken equipment or take advantage of a once-in-a-lifetime business opportunity. In that case, a fast small business loans can help.

Fast small business loans are a type of business financing that can get fast business funding that can be funded within 24 to 48 hours with minimal documentation. It allows companies to take advantage of opportunities like acquisitions or unexpected expenses, like broken equipment that needs replacing ASAP.

If you’re like most small business owners, you understand maintaining healthy cash flow is imperative to the success of your business. Unfortunately, many businesses encounter cash flow issues that, if left unaddressed, can lead to financial trouble. Business owners use fast small business loan to help cover the costs of daily operations, inventory purchases, upgrading equipment, and other different business opportunities.

SMB Compass has helped provide financing for over 1,000 small- and medium-sized businesses throughout the United States. We understand that your business needs fast business funding that require immediate attention. With that, we make sure that small businesses have access to quick small business loans that are flexible and helpful for every industry.

Our loan programs start at 5.25% APR, and business loans fast funding only takes hours after approval. We offer eight different fast small business loan for every business need imaginable. If you need financing now and want to know more, you can speak to one of our lending experts right now!

Advantages to Quick Small Business Loans

Limited Documents

Securing a business loans fast funding with a bank can require filling out pages of applications and providing years of financial documents. A fast business funds loan with SMB Compass can be secured with 3 months of bank statements and a one-page application. The application can be filled out online and takes less than 5 minutes to complete.

Fast approvals

One of the benefits of working with online lenders, like SMB Compass, is the fast turnaround and approval time. As soon as the bank statements and application are submitted, underwriting begins, and our loan managers will start working on the loan terms.

We ensure that we have a complete understanding of your businesses objective, so underwriting can move quickly and efficiently. We work fast and diligently to provide the financing you need in your timeframe. After sending your documents and application, we’ll have the loan terms and be ready to move on to the closing process.

Immediate Funding

Pro tip: When reviewing the documents, be sure to look at the terms, specifically the loan amount, interest rate, fees, repayment structure, and duration. If possible, review the contract with your business lawyers or accountant. If you have more questions about the agreement, contact us immediately for clarifications.

Once the closing document is reviewed and signed, the funds are wired into your account within hours!

Pro tip: When reviewing the documents, be sure to look at the terms, specifically the loan amount, interest rate, fees, repayment structure, and duration. If possible, review the contract with your business lawyers or accountant. If you have more questions about the agreement, contact us immediately for clarifications.

Once the closing document is reviewed and signed, the funds are wired into your account within hours!

  • How Can We Help?

    Just fill out this quick & easy form!

different types of loans

What are the different types of loans?

Bridge Loans

Bridge loans are short-term loans designed to address fast business funds needs. This type of loan is the best quick business loans that can be used when you need to bridge a cash flow gap, take on a business opportunity, or pay for an unexpected or unforeseen expense. Instead of digging into your cash reserves or passing on an attractive business opportunity, a bridge loan can cover these costs for you. The best part is, best quick business loans can wire the funds into your account within 24 hours (or less).

Business Lines of Credit

If you’ve used a credit card before, you may already have an idea of how a business line of credit works. Once approved, lenders assign you a predetermined credit limit, which you can draw from whenever you need to. You’ll only have to pay for the money you used plus the interest on that amount. It’s a revolving credit, so you can tap into the credit line and pay it back as long as you don’t exceed the set credit limit.

Equipment Financing

If you’re looking to purchase an expensive piece of equipment for your business, equipment financing is the best fast small business loan program for you. You can use the proceeds to buy expensive equipment like backhoes, cranes, vehicles, ovens, or and much more.

Multi-Year Term Loan

A Multi-year term loan is a type of financing with repayment schedules ranging from two to five years. These longer repayment terms also come with low monthly payments that promote healthy cash flow for small businesses. Once approved, your company will receive funding in as little as three to five days.

To qualify for a multi-year quick business loan, you will need a strong business trade credit, along with a good personal credit score and a history of positive cash flow.

Merchant Cash Advance

With a merchant cash advance, you receive a lump sum of cash upfront. You are then free to use the funds to finance your business operations – be it covering short-term gaps in cash flow or reordering inventory. But unlike other types of loans, you are not required to pay back the loan with monthly fixed payments.

With a merchant cash advance, the lenders will take a portion of your debit and credit transactions. This could be daily or weekly, depending on the lender you’re working with. The downside is that a merchant cash advance can be a more expensive program. Financial advisors recommend looking into other business loan programs and considering an MCA only as a last resort. Nevertheless, it’s a viable financing option that can give you access to fast cash.

Invoice Financing

Invoice financing is a type of funding where you, as a business owner, sell your outstanding invoices to third-party companies. These funding companies will then advance you 80% to 90% of the total value of your invoice, giving you access to instant cash. You’ll be able to receive the remaining 10% to 20% once your customers pay their invoices, minus a small lender’s fee.

SBA Loans

The Small Business Administration (SBA) created SBA Loans to help small business owners secure much-needed financing. The SBA itself doesn’t lend you the money. Instead, they guarantee up to 85% of your loan. This guarantee incentivizes the lenders to extend credit to small business owners that otherwise, won’t qualify for the loan without the government backing. Obtaining an SBA loan is longer than the typical business loan process. The process can take anywhere from a few weeks to months from start to finish.

Asset-Based Loans

An asset-based loan is a type of financing secured by your existing assets or collateral. The most common forms of assets and collateral include inventory, accounts receivable, purchase orders, equipment, or commercial real estate. If you have assets you can use as collateral, you are a prime candidate for an asset-based loan.

Quick Business Loan Options for Every Industry

We provide financing for businesses in a wide range of industries. Different businesses and industries use fast funding business loans for an array of reasons.

Our biggest clients include businesses under the industries outlined below.

Quick Business Loans for all

Transportation

The transportation industry relies on financing to operate effectively. With notoriously long payment terms, some business owners don’t receive payments until 15 to 60 days after completing an invoice.

With that, they become more prone to cash flow gaps and issues, which calls for extra capital injection. If a truck goes down and they don’t have the money to repair or buy a new truck immediately, they lose significant revenue. The longer the truck is off the road, the more money a business owner loses.

With fast funding business loans, they get the money as soon as they need it. They won’t have to worry about the lost revenue and get their trucks back on the road the soonest possible time because they get business loans fast

Restaurants

Most restaurants and bars deal with busy and slow seasons. Both times, they need access to quick financing to prepare for whatever comes their way. Expenses can add up quickly in this industry, and it’s difficult to predict future revenue. Operations can be derailed quickly by outcomes beyond the business owner’s control, such as a broken oven or a leak in the roof. To avoid such damages, restaurant and bar owners need immediate funds to deal with whatever situation that may occur.

Doctors and Medical practices

Doctors and medical practices deal with many overhead expenses and slow-paying insurance companies. Having longer payment terms can strain their cash flow and make it difficult for them to function effectively. Moreover, medical supplies can be costly, and without having the proper financing, it can drain your cash reserves.

Whether you need to cover payroll or buy equipment and machinery, you can trust small business loans to help you cover the expenses.

Manufacturing

The manufacturing industry has an array of overhead and operating expenses. Business owners have to cover these for their company to operate efficiently. Not only that but there are a lot of expensive equipment and machinery required for their business to run. If the business owners don’t have enough cash available, it can disrupt the operations and endanger the company.

Without immediate financing, any unexpected expenses can be detrimental for a manufacturing company. Manufacturers have to move quickly to ensure everything can continue to run smoothly.

Hotels

Hotels, like some other industries, deal with seasonality. During the slower seasons, cash flow can easily get tight. Sometimes, this warrants business owners to secure financing – fast.

Besides the seasonality, hotels and other hospitality businesses accrue operating and overhead expenses. For instance, they may have to cover maintenance and repairs, which can be difficult on the business cash flow.

Construction

Construction companies face a ton of upfront expenses. From day-to-day operating costs to equipment and supplies, the total costs could go up to millions. Plus, with long payment cycles, contractors often experience cash flow gaps, making it harder for them to cover their daily and monthly expenses.

With hard deadlines to catch, contractors use quick business loans to ensure that they have the capital they need to obtain the right equipment and supplies to complete their projects on time.

Technology

The technology industry is notoriously expensive, and it’s difficult to manage cash flow with the expenses piling up. While it’s typical for a tech company to have separate investors and seed capital, they still need to set some cash aside to cover immediate needs, especially since software and equipment in the tech industry can be expensive.

Like construction companies, technology businesses come with time-sensitive projects, and they need access to immediate financing for them to meet the deadlines and attract more customers.

Retail

Being a business owner in retail can be very difficult if you don’t have access to financing in a timely manner. Like many businesses, they experience seasonality which can potentially cause a strain on their cash flow. There always needs to be money to ensure that you can maintain inventory. With overhead and inventory expenses, access to immediate financing becomes crucial for the survival of every retail business.
Qualifications for a Fast Business Loan

Qualifications for a Fast Business Loan

SMB Compass provides fast funding loans for businesses with a variety of different credit profiles and cash flow situations. There is a range of different factors considered, including the industry, current cash flow, owner’s credit, and time in business. Each situation is unique and we work to ensure we are meeting the objective and time line of the business.

Business Owners that have used Quick Business Loans

Case Study #1

One of our clients runs a small retail company, and her manufacturer offered the opportunity of purchasing a bulk of inventory for less. She typically buys her inventory quarterly. But in this case, she was offered six months of inventory at a significantly discounted rate. Unfortunately, she didn’t have enough capital to take advantage of the opportunity, and needed to notify the manufacturer by the end of the week.

With that, she decided to apply for our fast funding loans. With the financing, we were able to provide her with the capital, allowing her to grab the opportunity her manufacturer offered. After that, she was able to drastically grow her cash flow because of the increased margins she is making off her discounted inventory. After financing her inventory multiple times, she now has enough working capital to order the stocks she needs without applying for more financing.

Case Study #2

Another client experienced late-paying customers, and he needed the capital to make the following week’s payroll. He knows how important it is to make the payments on time, or his employees would lose morale. He had to make sure that their pay was on time.

It was a Thursday, and he needed the funds to be in his account by Friday to pay his employees on time. Fortunately, he was able to secure a line of credit from us. He logged into his online account on Thursday and sent in a request. By Friday, the funds were already available.

As soon as his clients paid him the following week, he paid the amount he drew and the interest. Now, he still uses the line of credit to cover unexpected or short-term cash flow gaps. According to him, his line of credit is one of the most valuable and reliable financial resources.

Case Study #3

One of our clients owned a trucking company, and a few of his trucks needed to undergo repairs and maintenance ASAP. He reckoned that the longer he stored the trucks, the higher the losses his company would incur. Moreover, he had clients relying on him to deliver their goods on time. He knew that if he missed out on these deliveries, his reputation would be affected, and he would lose clients.

SMB Compass was able to provide immediate financing for our client so that he could get his trucks back on the road in no time. With that, he didn’t have to worry about missing out on more revenue.

Work With SMB Compass

Benefits of working with SMB Compass

Successful track record of supporting entrepreneurs

Free consultations to discuss financing options

5 Star Customer Reviews

Over $250 million delivered to 1,250+ businesses

25+ years of quick business funding lending expertise

Flexible and low cost options available

Fastest and Flexible Loan For Maintaining Cash Flow Of Your Small Business

A business loan fast approval is a business loan that can be funded in 24-48 hours and usually can be funded with minimal documentation. A business loan fast approval allows companies to get business loans fast to take advantage of opportunities and cover unexpected expenses.

If you’re like most small business owners, you understand maintaining healthy cash flow is important to the success of your business. Unfortunately, many businesses deal with cash flow issues. Business owners use to get a business loan fast to help cover the costs of daily operations, inventory purchases, upgrading equipment, and other different business opportunities.

SMB Compass has helped provide financing for over 1,000 small and medium sized businesses throughout the United States. We understand that your business needs quick business funding to get a business loan fast that require immediate attention. Our team provides small businesses with quick loans that are flexible and helpful for businesses in every industry. Our flexible loan programs come with rates starting as low as 5.25% APR and can be funded within hours. We offer eight different types of loans for every business need imaginable. If you need financing now and want to know more, you can speak to one our lending experts right now!

FAQ About Fast Business Loans

How much will I qualify for?

You can qualify for up to $5,000,000 to $10,000,000, depending on the type of fast business loan you’re applying for.

What is the application process?

We know how busy small business owners are, so we make sure that our online loan application forms only take a few minutes of your time. Here’s how you can apply for a loan:

  • Fill out our online loan application form. Our customer service team will be more than happy to assist and walk you through the entire loan application process.
  • After submitting your loan application, expect a call, text, or email from one of our lending experts.
  • Review the loan offers and decide whether they would be a good fit for your business or not.
  • Get funded! Once approved, you’ll be able to receive the funds within 24 to 48 hours.

How long will the process take to get funded?

Once approved of a fast business loan, you’ll be able to receive the funds in as little as 24 to 48 hours. However, keep in mind that this time frame might also be affected by how fast you can submit and supply the additional documentation.

What are your interest rates?

Business Line of Credit Starting at 5.75%
Equipment Financing 5.25% to 24.99%
Inventory Financing Starting at 7.25%
Invoice Financing 6% to 18%
Purchase Order Financing 1.5% to 3.5%
Bridge Loans 8.99% to 29.99%

What documents will I need to provide?

For classic business loans, we generally ask for three to six months’ worth of bank statements and the one-page online loan application you fill out on the site. For larger deals and other types of financing, we may require additional documents. Don’t hesitate to check in with our financial advisors to know the specifics.

Is there a hard credit pull?

No, we only do a soft credit pull. This means that if you apply for a loan through SMB Compass, it will not impact your business or personal credit score.

What can be used for collateral?

You can use the following assets as collateral for a secured loan:

  • Accounts receivable (A/R)
  • Inventory
  • Purchase orders
  • Machinery and equipment
  • Commercial real estate
  • Marketable securities
  • Intellectual property

Learn About Your Financing Options

Call Us: 888-853-8922