A Step-By-Step Guide to Getting a Fast Business Loan

Last Updated on January 5, 2018

Accidents happen. A pipe bursts. Your roof needs repairs. For most small businesses, needing a fast business loan isn’t the result of poor planning or negligence.
Instead, occurrences outside of your control can make getting a loan approved quickly a necessity. Unfortunately, it can sometimes be difficult to secure a loan from the bank in time to make a difference.
When you apply for a fast business loan you should consider all your options; the good news is, you’ve got plenty. With that in mind, here’s a step-by-step walkthrough on how to get a fast business loan:

steps to get a fast business loan

Your Guide to Getting a Small Business Loan, Step by Step

Step 1: Identify the Issue

Before applying for a fast business loan you should have a clear idea of why you need the loan in the first place. As with any loan, taking out more than you need is a bad idea. So make sure to determine exactly how much you need and why you need it.

Step 2: Check Out the Competition

Once you’re sure you need a fast business loan, you can start searching around for a bank or a lender.
Banks are more willing to approve fast loans now than they were in the past, but –– depending on your situation –– you may want to consider an alternative method. Not all lending companies are created equal, so be thorough in your search.

Step 3: Keep it Short

If you’re applying for a fast business loan, it’s generally better practice to seek out a short-term business loan.
Generally, you can get the cash you need quicker with a short-term loan than with a payment plan that stretches out for longer.

Step 4: Explore Other Options

Sometimes you can avoid an outright loan when starting a business by applying for a business credit card, or establishing a business line of credit.
Normally you can accomplish this in a couple of days. And rather than taking out small loan after small loan, you can consolidate what you owe with one fell swoop.

Step 5: Create a Plan

Once you’ve decided on a course of action, make sure to plan for life after the loan. Remember, fast business loans are a great way to fix a one-time mishap, but constantly relying on loans to extricate yourself from a jam could lead to trouble.
So strategize not only about how best to use the loan, but how to pay it off and (potentially) avoid having to do so again.

Get a Fast Business Loan Today

Having trouble securing a loan from a bank when you need it most? Contact us today at (877) 482-3008, or apply online by filling out our 1-minute application, and we’ll get you funded in as little as 24 hours!

Additional Information

If you want to learn more, you can download our free eBook “How to Get Business Funding When Banks Say ‘No’” to learn why banks deny loans and which options you still have available.

National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!


About the Author, Megan Capobianco

Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.

Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advise from National Business Capital & Services and the author. Do no rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely in this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there maybe errors, omissions, or mistakes.