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Short-term business loans can give your business the fast cash it needs to bridge cash-flow gaps, handle emergencies and unexpected expenses, or take advantage of a business opportunity.

Think of them as quick-turnaround loans: Borrow what you can pay back relatively quickly so you can focus on running your business rather than managing debt.

You can choose between an OnDeck short-term loan or a BlueVine short-term line of credit. Lines of credit are more flexible and generally have shorter repayment periods than short-term loans, making them more suitable for managing cash flow. (However, there are pitfalls of short-term business loans.)

Here are short-term financing options from online business lenders.


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BlueVine lines of credit


BlueVine is a good option for newer businesses.

  • Pros: Only requires a minimum of six months in business to qualify; fast funding
  • Cons: High borrowing costs; need strong revenue



  • Loan amount: $5,000 to $250,000.
  • APR: 15% to 78%.
  • Loan term: Repaid over 6 or 12 months.
  • Funding time: As fast as 24 hours.
  • Read our review.

Apply now at BitX Funding


Do I qualify?

Before you apply for a BlueVine line of credit with BitX Funding, find out whether you meet the minimum qualifications.

Six-month line of credit:

600+ personal credit score

6+ months in business

$120,000+ in annual revenue

Personal guarantee required

12-month line of credit:

620+ personal credit score

At least two years in business

$450,000+ in annual revenue

Personal guarantee required

Not available in North Dakota, South Dakota, or Vermont


OnDeck Short-term business loans


OnDeck is a good option if you don’t have perfect credit.

  • Pros: High borrowing amounts; fast funding
  • Cons: Costly financing; frequent repayments





  • Loan amount: $5,000 to $500,000.
  • APR: 16.7% to 99.4%, as of Q1 2022
  • Loan term: Repaid daily or weekly for 3 to 36 months.
  • Funding time: As fast as 24 hours, but typically a few days.
  • Read 

*APRs change quarterly


Apply now at BitX Funding


Do I qualify?

Before you apply for an OnDeck loan with BitX Funding, find out whether you meet the lender’s minimum qualifications.

500+ personal credit score.

1+ year in business.

$100,000+ in annual revenue.

No bankruptcies in the last two years.

Personal guarantee required.


Pitfalls of short-term loans

While short-term business loans provide fast cash, they do come with some disadvantages, including:

  • 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 daily or weekly payments instead of monthly. Although these payments are smaller, their frequency can be an issue for businesses with uneven sales or who 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.


BitX Funding is an online marketplace for small business owners looking to fund a project. We specialize in connecting small business owners with lenders who will compete for your business. We believe small business owners drive the economy and are passionate about helping your company reach its full potential.

You can reach a loan specialist toll-free at 1-800-824-2407, email [email protected] or apply online here and we can guide you on which loan is the best fit for your business.



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