The 6 Best Same-Day Business Loans & Merchant Cash Advances

Merchant cash advances can be risky and expensive, but for fast or same-day funding, they can be the only option. Keep on reading to discover our vetted business cash advance lenders.

• Chris Motola Chris has been writing about small business topics since 2003. In 2015, he joined Merchant Maverick, where he writes about business financing, payment processing, and demographic trends in entrepreneurship. Chris has been featured in Fox Business, ABC News, Yahoo Finance, GoBankingRates, Newsweek, BizJournals, and other publications. He has a Bachelor’s of Arts in English Writing Arts from SUNY Oswego, and a Masters of Science in Interactive Media from the University of Central Florida. He currently resides in the Hudson Valley region of New York.

  Expert Analyst & Reviewer

• 
  Apr 27, 2023

  UPDATED

When you need financing quickly, it can be tough to find same-day loans from lenders who won’t take advantage of your desperation. “Same-day” lenders often charge exorbitant fees for same-day business loans and merchant cash advances.

Fortunately, there are at least a few good eggs regarding same-day loans or merchant cash advances.

Though there is never a 100% guarantee that you’ll receive your money the same day you apply, the following same-day business lenders have a solid track record for delivering funds on the same day businesses submit their loan applications.

Learn More About Our Top Picks

Company	Best For	Next StepsBest For
BusinessLoans.com Read More	Term loans, short-term loans, lines of credit, & merchant cash advances FICO: No minimum given APR: Varies by lender	Term loans, short-term loans, lines of credit, & merchant cash advances FICO: No minimum given APR: Varies by lender Visit Site Read More
OnDeck Read More	Terms loans & lines of credit FICO: 625+ APR: 29.9%+	Terms loans & lines of credit FICO: 625+ APR: 29.9%+ Apply Now Read More
National Business Capital Read More	Term loans, lines of credit, equipment financing, merchant cash advances, & SBA loans FICO: 580+ APR: Varies by lender	Term loans, lines of credit, equipment financing, merchant cash advances, & SBA loans FICO: 580+ APR: Varies by lender Apply Now Read More
Rapid Finance Read More	Term loans, lines of credit, merchant cash advances, invoice-factoring, & SBA loans FICO: No minimum APR: Not publicly disclosed	Term loans, lines of credit, merchant cash advances, invoice-factoring, & SBA loans FICO: No minimum APR: Not publicly disclosed Apply Now Read More
Funding Circle Read More	Term loans, lines of credit FICO: 660+ APR: 4.99%+	Term loans, lines of credit FICO: 660+ APR: 4.99%+ Apply Now Read More
Show More Options
Bluevine Read More	Lines of credit FICO: 625+ APR: 15%+	Lines of credit FICO: 625+ APR: 15%+ Visit Site Read More
Show Fewer Options

Read more below to learn why we chose these options.

The 6 Best Same-Day Business Funding Lenders

The best same-day business loans should be easy to apply for and quickly disburse funds to applicants. Ideally, they should also have reasonable rates and repayment terms.  Here are the best same-day business loans from lenders like OnDeck, FundingCircle, Bluevine, and Rapid Finance.

1. BusinessLoans.com: Best Time-Saving Application Process

BusinessLoans.com	Visit Site Read our Review

Get Started With BusinessLoans.com

Read our in-depth review

Jump back to comparison chart

2. OnDeck: Best For Same-Day Business Loans

OnDeck	Apply Now Read our Review

Get Started With OnDeck

Read our in-depth review

Jump back to comparison chart

3. National Business Capital: Best For Bad Credit

National Business Capital	Apply Now Read our Review

Get Started With National Business Capital

Read our in-depth review

Jump back to comparison chart

4. Rapid Finance: Best For New Businesses

Rapid Finance	Apply Now Read our Review

Get Started With Rapid Finance

Read our in-depth review

Jump back to comparison chart

5. Funding Circle: Best For Established Businesses

Funding Circle	Apply Now Read our Review

Get Started With Funding Circle

Read our in-depth review

Jump back to comparison chart

6. Bluevine: Best For Same-Day Lines Of Credit

Bluevine	Visit Site Read our Review

Get Started With Bluevine

Read our in-depth review

Jump back to comparison chart

Methodology: How We Chose Our Top Picks

When selecting the best small business loans, Merchant Maverick considers metrics like interest rates, term lengths, borrower requirements, and customer reviews. We compare these scores, in aggregate, to similar companies and then assign the lender an overall score.

When considering same-day business loans, we heavily weighted the lenders’ time to funding and ease of application.

Of course, we encourage you to do your own research and comparisons between lenders and, ideally, get multiple quotes before accepting any loan offer.

Why We Don’t Recommend These Options For Same Day Business Loans

We like the following lenders in general, but we cannot recommend them for same-day small business loans since they all take one day or longer to deposit funds in your account. Many of these lenders are good options for next-day business loans.

Lendio

Lendio is a highly reputable business lending marketplace that provides a variety of business loan types, including merchant cash advances and others. However, they do not offer same-day funding. Funding typically takes at least 48 – 72 hours.

Fundbox

Fundbox does not offer MCAs or same-day business loans. You can, however, get funded as soon as the next day after you apply.

LoanBuilder

LoanBuilder also doesn’t offer same-day business loans or merchant cash advances with same-day funding. But it can deposit your business loan as quickly as the following business day.

Fundera

Fundera does offer MCAs and other business loan types, but like Lendio, this fintech marketplace has a slightly longer time-to-funding—meaning you won’t receive your funds the same day you apply.

National Funding

National Funding doesn’t have MCAs or same-day small business loans. Still, you may be able to get a next-day loan from this small business lender.

How To Find Same-Day Business Loans Online

Now, let’s discuss how you can find the same-day loan that fits your particular business circumstances.

Which Type Of Same-Day Loan Or Business Cash Advance Should I Apply For?

With all the different financing options out there, you might be unsure as to what kind of loan makes the most sense for your business. Let’s go through some of the most common types of quick loans and spell out which kinds of businesses are best suited to each.

• Short-Term Loans: Short-term loans can be used for a wide variety of short-term business purposes. Working capital, hiring/training, business expansion, and marketing are just some of the things a short-term loan can cover. Just be aware that the fees are relatively high and that you’ll need to be able to repay the loan relatively quickly (at the same time, it’s likely you won’t save any money by repaying the loan early).
• Lines Of Credit: If you want to get a small business line of credit, you should know that it is similar to having a business credit card in that it’s a revolving credit line that replenishes when you pay off the amount you’ve borrowed. However, compared to a business credit card, business lines of credit tend to sport lower interest rates and higher credit limits, so if you plan to carry a balance month-to-month or you need to borrow more than an average business credit card account will allow, you should seek a line of credit over a business credit card. Likewise, business lines of credit are better than business term loans when you can’t predict exactly how much money you’ll need to borrow.
• Invoice Financing/Factoring: Invoice financing involves putting up your customers’ invoices as collateral in exchange for a loan — a loan you repay once you’ve collected your customers’ outstanding payments. Another means of funding involving the use of your customers’ invoices is invoice factoring, which entails selling your outstanding invoices to a factoring company — the company then collects your customers’ invoices on your behalf. These forms of financing can be helpful when your business suffers from inconsistent cash flow due to customers not paying their invoices in a timely manner. However, these forms of financing can carry higher fees than other loan types, and, in the case of invoice factoring, can involve monthly minimums and maximums. Read our articles on invoice financing and invoice factoring for more information.
• Merchant Cash Advances: A merchant cash advance (MCA) can provide funding to businesses whose short time in business or poor credit scores make traditional loans hard to come by. This type of funding involves selling your future revenue at a discount to a merchant cash advance company; in return, the MCA company takes a portion of your sales revenue on a daily basis (though some providers may offer weekly or even monthly repayment schedules). This arrangement lets you pay less when your sales are slow and more when your sales are higher, thus smoothing out your cash flow. However, the fees are high, you’ll have to repay the advance quickly, and you’ll have to avoid the shady operators in this space. Read our piece on a common MCA practice called “double dipping” to get the full story.

How Do I Avoid Disreputable Lenders?

Not all lenders are honest and forthcoming about the fees they will charge you. To avoid unscrupulous lenders, look for customer feedback on the lender in question and see if you detect any concerning patterns emerging. Another way to weed out the bad actors is to check review sites like ours to see how they stand up to scrutiny.

Disadvantages Of Same-Day Funding

Obviously, the advantage of same-day business loans is that you get funded quickly. Naturally, as you might expect, fast funding comes with some disadvantageous trade-offs.

These include:

• Expense: Speed comes at a cost, and that generally means higher interest rates.
• Fast repayment terms: Many types of quick business loans involve repayment on a weekly (or even a daily) basis.
• Financing future sales has risks: Because merchant cash advances are based on your future credit card sales, repayment can be a problem if your daily sales plummet for one reason or another. MCA companies may not have a set repayment term, but they will typically have a maximum amount of time you can take to repay.
• Can be only a temporary solution: Short-term business financing such as MCAs and other short-term, same-day business loans may help your business out in an emergency situation. But if your business has repeated funding emergencies, this type of expensive emergency financing is not sustainable and may even compound your problems.

In Summary: Top 5 Business Loans With Same-Day Funding

While it’s always better to be prepared, you never know when you might need a quick infusion of cash to keep your business running. By working with a reputable lender, you can get back on track with minimal disruption.

For an alternative approach mitigating surprise expenses, check out our article on emergency business loans for even more information on how to get fast business funding.

FAQs: Same-Day Business Loans & Merchant Cash Advances

In Summary: The 6 Best Same-Day Business Funding Lenders

1. BusinessLoans.com:
   • Term loans, short-term loans, lines of credit, & merchant cash advances
   • FICO: No minimum given
   • APR: Varies by lender
2. OnDeck:
   • Terms loans & lines of credit
   • FICO: 625+
   • APR: 29.9%+
3. National Business Capital:
   • Term loans, lines of credit, equipment financing, merchant cash advances, & SBA loans
   • FICO: 580+
   • APR: Varies by lender
4. Rapid Finance:
   • Term loans, lines of credit, merchant cash advances, invoice-factoring, & SBA loans
   • FICO: No minimum
   • APR: Not publicly disclosed
5. Funding Circle:
   • Term loans, lines of credit
   • FICO: 660+
   • APR: 4.99%+
6. Bluevine:
   • Lines of credit
   • FICO: 625+
   • APR: 15%+

• Bio
• LinkedIn
• Latest Posts

Chris Motola

Expert Analyst & Reviewer at Merchant Maverick

Chris has been writing about small business topics since 2003. In 2015, he joined Merchant Maverick, where he writes about business financing, payment processing, and demographic trends in entrepreneurship. Chris has been featured in Fox Business, ABC News, Yahoo Finance, GoBankingRates, Newsweek, BizJournals, and other publications. He has a Bachelor’s of Arts in English Writing Arts from SUNY Oswego, and a Masters of Science in Interactive Media from the University of Central Florida. He currently resides in the Hudson Valley region of New York.

View Chris Motola's professional experience on LinkedIn.

Latest posts by Chris Motola (see all)

• The 7 Best Commercial Construction Loans - July 10, 2023
• The Best ACH Loans For Your Small Business - June 21, 2023
• The 5 Best Commercial Real Estate Loans For 2023 - May 9, 2023
• The 6 Best Startup Business Loans For 2023 - April 20, 2023
• The 6 Best Equipment Financing Companies For Small Business - April 13, 2023