8 Best Easy Business Loans For 2023

Starting or running a business can be expensive, and sometimes you need a little extra cash to get things off the ground or take your business to the next level. If you’re looking for an easy business loan, there are a number of lenders that offer quick and simple approval processes.

What is an easy business loan?

An easy business loan is a loan that is relatively easy to qualify for, even if you have a less-than-perfect credit history. These loans typically have shorter approval times and more flexible terms than traditional bank loans.

Why get an easy business loan?

There are a number of reasons why you might want to get an easy business loan. For example, you might need to:

• Cover unexpected expenses, such as a major repair or a sudden drop in sales.
• Expand your business, such as by opening a new location or hiring new employees.
• Purchase equipment or inventory.
• Improve your cash flow.

How to choose an easy business loan

When choosing an easy business loan, there are a few factors you’ll need to consider, such as:

• The amount of money you need to borrow.
• The length of the loan term.
• The interest rate.
• The lender’s lending criteria.
• The application process.

It’s also important to compare different lenders to find the best deal. You can use a loan marketplace like Lendio to compare quotes from multiple lenders at once.

8 of the best easy business loans for 2023

1. Fundbox 

Fundbox is an online lender that offers line of credit loans to small businesses. Fundbox is known for its quick and easy approval process, which can take as little as 24 hours. They also offer competitive interest rates, so you can get the funding you need without breaking the bank.

Fundbox is a good option for businesses that need quick access to cash. They offer loans up to $100,000, with terms of 12 months to 3 years. To qualify, you’ll need a minimum credit score of 625, but you may be able to qualify with a lower score if you have a strong business history.

If you’re looking for a quick and easy way to get funding for your small business, Fundbox is a great option. Their simple application process and competitive interest rates make them a good choice for businesses of all sizes.

Pros of Fundbox:

• Quick and easy approval process
• Competitive interest rates
• Flexible terms
• Online application process

Cons of Fundbox:

• Minimum credit score requirement of 625
• Not available in all states
• Not a good option for businesses that need a large amount of funding

Related: Best Accounting Software for Small Business in 2023

2. National Funding

National Funding is an online lender that offers business loans to businesses with low credit scores. They have a more lenient lending criteria than some other lenders, so they may be a good option if you have a less-than-perfect credit history.

National Funding offers loans up to $500,000, with terms of 12 months to 6 years. They do not require a minimum credit score, but you will need to provide financial documentation to show that you are able to repay the loan.

The application process is simple and straightforward. You can apply online or over the phone. Once you apply, a National Funding representative will review your application and contact you to discuss your options.

If you are approved for a loan, the funds will be deposited into your account within 24 hours. National Funding offers a variety of loan products, so you can find one that fits your specific needs.

Pros of National Funding:

• No minimum credit score required
• Loans up to $500,000
• Terms of 12 months to 6 years
• Fast approval and funding
• Flexible repayment terms

Cons of National Funding:

• Higher interest rates than some other lenders
• Fees for late payments or prepayment
• Repayment terms may be shorter than you need

3. QuickBridge

QuickBridge is a lender that specializes in short-term business loans. They offer loans up to $250,000, and they are known for their fast approval and funding process. QuickBridge can approve loans within 24 hours, and funds can be deposited into your account as soon as the next business day.

QuickBridge is a good option for businesses that need quick access to cash for short-term expenses, such as inventory, payroll, or marketing. They also offer a variety of repayment terms, so you can find a loan that fits your budget.

To qualify for a QuickBridge loan, you will need to have a minimum credit score of 625. However, they may be able to approve you with a lower score if you have a strong business history.

If you are looking for a quick and easy way to get a short-term business loan, QuickBridge is a good option to consider.

Pros of QuickBridge:

• Fast approval and funding
• Up to $250,000 in loan amount
• No minimum credit score requirement
• Flexible repayment terms

Cons of QuickBridge:

• Higher interest rates than some other lenders
• Short loan terms
• May require collateral

Related: 9 Best Easy Payroll Software for Small Business Users (2023 Reviews)

4. OnDeck

OnDeck is a lender that offers short-term business loans. They are known for their instant access loans, which can be funded as soon as the same day you apply. OnDeck offers loans up to $500,000, with terms of 6 months to 24 months. They require a minimum credit score of 625, but it may be possible to qualify with a lower score if you have a strong business history.

OnDeck is a good option for businesses that need quick access to cash. They also have a reputation for being easy to work with, and their application process is relatively simple. However, their interest rates can be high, so it’s important to compare offers from other lenders before you decide to borrow from OnDeck.

Pros of OnDeck:

• Fast funding
• Easy application process
• Flexible terms
• No minimum credit score

Cons of OnDeck:

• High interest rates
• Short repayment terms
• Not available in all states

5. American Express

American Express offers a line of credit specifically for small businesses. This line of credit is called the American Express Business Blueprint™, and it offers competitive interest rates and flexible terms. The maximum credit limit for an American Express Business Blueprint™ line of credit is $250,000, and it can be used for a variety of business expenses, such as inventory, equipment, marketing, and payroll.

American Express does not require a minimum credit score to qualify for a Business Blueprint™ line of credit, but you will need to provide financial documentation to show that you are able to repay the loan. The application process for a Business Blueprint™ line of credit is quick and easy, and you can apply online.

If you are looking for a line of credit for your small business, the American Express Business Blueprint™ is a good option to consider. It offers competitive interest rates, flexible terms, and a maximum credit limit of $250,000. You can use the line of credit for a variety of business expenses, and the application process is quick and easy.

Conclusion

If you’re looking for an easy business loan, there are a number of lenders that offer quick and simple approval processes. The lenders listed above are some of the best easy business loans for 2023. Be sure to compare different lenders before you choose one, and make sure you understand the terms of the loan before you sign anything.