Can I Get an Instant Business Loan for My Business?

(The Truth About Instant Business Funding.)

Unlike in years past, instant business financing decisions are a reality and are available for small businesses through a large surge of new online business lenders that offer online automated underwriting business decisions. By simply filling out online applications and either uploading or linking the business owners’ business bank accounts, business funding decisions can be rendered in some cases in minutes. All credit types from poor to excellent are accepted for consideration.

Business credit cards are an alternative instant business line of credit option that has been available for years that leverage the business owner’s personal credit and can render decisions with no documentation in many cases, but for this business product, you will need to have excellent credit.

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What Are the Most Common Uses for Instant Business Loans?

  • Cash Flow to Stabilize Business Bank Account
  • Emergency Payroll Issues
  • Emergency Cash Infusions Due to Extenuating Circumstances
  • Emergency Relief for Accounts Receivable Issues
  • Advertising/Marketing
  • Repairs of Existing Facilities
  • Equipment Breakdowns
  • Inventory or Supplies

 

The Best Types of Instant Business Loans: How to Get Business Funding Instantly

Online business lenders offer instant business approvals by leveraging new technology credit algorithms that use many data points than traditional lenders do not look at to render an instant business credit decision.

Product Overview

Rates: Risked based pricing. Offering Principal and Interest rates starting at 8% or Factor rates starting at 1.18%  

Terms: 6 to 12 months

Fees: 1% to 3% Origination Fees

Payments: Monthly, Bi-weekly and in some case daily Monday through Friday

Credit Standards: All types of credit considered from Poor to Excellent

Turnaround Times: Same day business funding 

Documentation: Reduced Documentation, Low Documentation. Online application and upload of business bank statements or bank link 

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Business Credit Cards for Instant Business Loans

Business credit cards function the same as regular credit cards. Credit cards are revolving credit lines and issue a card that can be used for both purchases and payments. Business credit cards can be used in conjunction with other business loan products, but there is nothing more instant than a credit card when accessing capital for your business.

Product Overview

Rates: Interest rates starting at introductory rates at 0% up to 28.99%

Terms: Revolving, no term limits 

Fees: Annual fees from $0 to $250 typically 

Payments: Low flexible monthly payments

Credit Standards: Must have good to excellent credit and deep credit history

Turnaround Time: Instant 

Documentation: No Documentation for smaller amounts $3,000 up to $15,000. Larger credit limits may require documentation if you are looking for more money or an increase to prove the ability to repay.

Benefits and Best Uses of Business Credit Cards 

There is nothing more instant than a Business credit card. They are a very popular business funding option because they offer flexibility to access money that is second to none. With business credit cards, you can both purchase items and use it to pay for bills or invoices. Business credit cards can also be a lifeline when the business is in a pinch or emergency.

The fast, convenient and straightforward way to get the money you need for your business – now! Get Your Quote Today by filling out our simple form.

Frequently Asked Questions

Is an Instant Business Loan difficult to obtain?

The short answer is No. As of 2020, there are more ways than ever to get money for your business instantly. The key is to evaluate all products you qualify for and find out which is best for you and your business. Credit matters when it comes to getting instant money so, the better the credit, the better the product offerings and terms will be. Compare, shop, and save!

What are the interest rates for Instant Business Loans?

There is a wide variance with interest rates, which are principal & interest or alternative business finance, which are based on factor costs depending on products and your credit qualifications. Typical business credit cards credit Interest rates starting at introductory rates at 0% up to 28.99%. For alternative instant business funding products, factor rates vary from 1.09 to 1.45 of the funding amount. That is a big range, and you need to compare offers carefully.

Can I qualify for an Instant Business Loan if I have bad credit?

The short answer is yes. Bad credit business loans may be limited though, remember, the worse your credit, the higher the rates and fees as well as an effect it will have on terms of any business financing product offerings. 

What Term Lengths can I get with Instant Business Loans?

You will sacrifice in term to get instant business loans fast compared to other, more traditional business loan products because instant business funding options collect less documentation and information to make a credit decision. Alternative business funding options are typically six months to 12 months, and credit cards have no term limit. 

How much will Instant Business Loans cost in fees?

Business credit cards usually have no upfront fees but due have an annual fee (typically $0 to $250). When you need money instantly, you sometimes will have to sacrifice in costs. Expect fees to be higher than more traditional business financing for alternative business funding options. Origination fees should range from 1% to 5% of the amount you are borrowing.

The Bottom Line: Advice, Tips, Warnings about Instant Business Loans

If a business owner needs money instantly, then typically, it’s because they need to fix a problem fast. Is your cash flow problems short term? Was this a one- time special circumstance emergency or will your cash flow problems continue long term? Will your business always need instant business financing as it’s just the nature of your type of business? Did you consider the cost and terms sacrifice to get the business funding instantly? Have you done your cost versus benefit analysis? Can the request for capital wait for a business loan product that may take longer to get approved for but offer better rates and terms?

Consider the questions above when choosing the instant business funding options that are available. Work with a company that has a large product line that can offer you as many choices as possible. We understand when you need the money, you need the money, but sometimes you don’t want to make any rash decisions because you can make matters worse. As we always say at AdvancePoint Capital, compare, shop, and you will always save!

How to Apply for Working Capital Business Loans

We at AdvancePoint Capital can assist you in finding the business financing solution you need. We offer an easy business loan experience that our customers love, that is a fast, streamlined process and high approval rates that come from
working with us. 

Applying for a loan with AdvancePoint Capital is as simple as a 1, 2, 3, 4 process. Start with this online form, then fill out the short application page, wait a few hours for your approval, and then get your money!

The fast, convenient, and straightforward way to get the money you need for your business – now! Get your Quote Today by filling out our simple form.

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* All loans made by either WebBank, an FDIC-insured Utah industrial bank, or Bank of the Internet Federal Bank, an FDIC-insured federally chartered thrift located in California. In connection with the loans, the Banks' underwriting conditions and terms apply.