How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Here are 5 options for you
Lender | Best for | Max loan amount | Min. credit score | Next steps |
---|---|---|---|---|
Kabbage - Line of credit on Kabbage's website | Best for Short-term lines of credit | $250,000 | 640 | on Kabbage's website |
Bluevine - Line of credit with Fundera by NerdWallet | Best for Short-term lines of credit | $250,000 | 600 | with Fundera by NerdWallet |
Fundbox - Line of credit with Fundera by NerdWallet | Best for Short-term lines of credit | $150,000 | 600 | with Fundera by NerdWallet |
OnDeck - Online term loan with Fundera by NerdWallet | Best for Short-term business loans for fast cash | $250,000 | 600 | with Fundera by NerdWallet |
Credibility Capital - Online term loan with Fundera by NerdWallet | Best for Short-term business loans for low rates | $500,000 | 650 | with Fundera by NerdWallet |
Our picks for
Short-term lines of credit
Kabbage - Line of credit
$250,000
640
9.00-36.00%
Bluevine - Line of credit
$250,000
600
15.00-78.00%
Fundbox - Line of credit
$150,000
600
10.10-79.80%
Our pick for
Short-term business loans for fast cash
Business loans are term loans that provide a lump of cash upfront, repaid over a set period of time with fixed, equal payments.
OnDeck - Online term loan
$250,000
600
9.00-99.00%
Our pick for
Short-term business loans for low rates
Credibility Capital - Online term loan
$500,000
650
6.99-24.99%
How Much Do You Need?
- Higher cost: Short-term business loans typically carry a higher annual percentage rate, or APR, than long-term loans. Use NerdWallet’s business loan calculator to figure out how much a loan will cost you.
- More frequent repayments: Some lenders require payments daily or weekly as opposed to monthly. Although these payments are smaller, their frequency can be an issue for businesses that have uneven sales or don’t always hold much cash in a bank account.
- Risk of debt trap: The speed and ease of short-term business loans can become addictive. Instead of repaying the debt in full, business owners may be enticed to refinance and roll over the debt into a new loan.
To recap our selections...
Best Short-Term Business Loans of June 2022
- Kabbage - Line of credit: Best for Short-term lines of credit
- Bluevine - Line of credit: Best for Short-term lines of credit
- Fundbox - Line of credit: Best for Short-term lines of credit
- OnDeck - Online term loan: Best for Short-term business loans for fast cash
- Credibility Capital - Online term loan: Best for Short-term business loans for low rates