The Best ERC Loans In 2023

Unlike many ERC lenders, Omega Funding Solutions has no minimum or maximum loan amounts. This makes it easier for businesses that have smaller ERC refunds — as well as those with larger refunds — to get fast access to the funds they need.

Omega Funding Solutions works with any business that has a valid ERC claim, even if Omega didn’t file the claim. The application and approval process is quick and easy with loan decisions available in as little as just one day.

Omega Funding Solutions does not disclose its fees and/or interest for ERC loans, so you’ll have to get in touch for more information. Omega offers 12-month bridge loans of up to 60% of your ERC refund. Repayment will begin after your loan is cleared, and a balloon payment is made to pay off the loan once your refund check arrives.

To be eligible for Omega’s ERC loans, you must have a valid ERC claim filed with the IRS — and that’s it.

Credit score, the amount of your ERC refund, time in business, and other factors are not considered when approving your ERC loan.

If you’re new to Omega Funding Solutions, you can potentially receive your ERC loan in as little as 30 days.

This timeline is shortened even more for current Omega clients, who may receive a loan decision in as little as one day and have their loan processed and closed in three days.

If you haven’t yet filed your ERC claim, Stenson Tamaddon is a good option. Not only does this company provide ERC services that includes $1 million in protection per filing, but the company also offers ERC Advances.

Through Stenson Tamddon, you can receive an advance on your ERC funds in as little as 72 hours after filing your claim. The application process is quick and easy, and there’s no fee to apply. Once you’ve applied for your ERC funds and ERC Advances, you can also take advantage of other services, including filing for the Research & Development Tax Credit or the Work Opportunity Tax Credit.

Stenson Tamaddon does not disclose its fees and terms for ERC Advances. However, there is no fee to apply for an ERC Advance.

To receive an ERC Advance, you must file your ERC claim with Stenson Tamaddon.

Your ERC Advance funds can be available as quickly as 72 hours after filing your claim and applying for an Advance.

If you want fast funding, look to Biz2Credit. The ERC loan application process takes approximately five minutes. Biz2Credit also works quickly to get your loan, with some borrowers receiving funds in as little as 72 hours.

Speed and simplicity aren’t all you’ll find with Biz2Credit. You’ll also receive interest-only monthly payments and a dedicated funding specialist to answer your questions and provide support throughout the loan process.

Biz2Credit doesn’t disclose its rates online, so you’ll have to start the application process to learn more.

Biz2Credit offers 12-month loans of up to 65% of your ERC refund, with a maximum loan amount of $500,000. If you haven’t received your ERC refund within 12 months, the loan rolls over into an amortizing term loan for up to 24 months.

Biz2Credit states that most customers that receive an ERC loan meet the following requirements:

• Pending ERC credit of at least $100,000
• Minimum personal credit score of 660
• Business has been in operations since at least February 2020

Biz2Credit ERC loan applications may be approved in as little as 24 hours. Borrowers may have their loans funded in as little as 72 hours.

If your business hasn’t yet filed an ERC claim, you can turn to United Capital Source. Not only does United Capital Source help you file your ERC claim, but the company can also help you secure an ERC advance. This means that you can have money in your pocket in just weeks instead of months.

However, if you’ve already filed your claim, don’t worry — you can still contact United Capital Source to potentially receive an ERC loan. United Capital Source has received excellent reviews from its users and also provides other types of small business funding.

Unfortunately, United Capital Source isn’t very transparent about the fees and terms of its ERC advances. Once you fill out an application, you will be contacted by a funding expert that will go over timelines and costs associated with your ERC loan.

To qualify for an ERC advance from United Capital Source, you must meet these requirements:

• Business must have full-time W-2 employees
• Must have a verifiable claim for an ERC refund

United Capital Source can provide ERC funds in as little as one to two weeks.

Valiant Capital’s ERC Advance program is different from the other options on this list. Valiant Capital’s ERC advances aren’t loans. Instead, business owners sell their anticipated ERC refunds. The advantage of this is that there is no ongoing interest or monthly repayments.

Simply pay a fee upfront (with includes a holdback) and receive your funds in a month or less in most cases. Once your IRS refund has been processed and received, the holdback will be released. No additional payments are required.

Valiant Capital is very transparent in terms of its fees. You will be charged an analysis and processing fee that is equal to 5% of your ERC refund. You will also be charged a 10% holdback that will be released once payment from the IRS is received.

Since this isn’t technically an ERC loan, you will not have to worry about monthly payments or paying additional fees or interest.

To qualify for an ERC advance from Valiant Capital, you must meet these requirements:

• Must be in good standing with creditors
• No recent felonies or bankruptcies
• No back taxes unless they can be paid off with advance
• Board members or C-suite executives must sign validity agreements for nonprofits and foreign-owned entities

Most approved applicants will receive funds in two to four weeks.

If you don’t want to wait days or weeks to know if your loan has been approved, give Peach Capital a try. This company offers ERC advances with loan decisions made in as little as one day. Existing clients can even receive funding in just a few days.

Peach Capital has a fast and simple application process. There are no upfront fees required to receive a loan, and there are no minimum or maximum loan amounts. There are also no strict eligibility requirements, so applicants that don’t qualify elsewhere may be able to get funded provided they have a valid ERC claim filed with the IRS.

Peach Capital offers 12-month bridge loans with no minimum or maximum loan amount. Once funded, repayment will begin, and a balloon payment is made when your ERC refund is received. You can receive up to 65% of the value of your ERC refund through Peach Capital’s loan program.

Peach Capital does not disclose its rates and fees, so you will need to start the application process to learn more.

To obtain an ERC loan through Peach Capital, you must have a valid ERC claim with the government. There are no credit score or cash flow requirements.

Existing Peach Capital clients may receive their funds in as little as three days. New clients may receive their funds in 30 days or less.