Fast business loans: the decision times lenders publish

Which quick business loans fund fastest, and why?

Speed comes from how the lender assesses you. A lender that reads your bank data through a secure connection and lends without security can decide in minutes; a lender that needs financial statements, a valuation and security documents cannot.

Unsecured loans from online lenders: hours

The online lenders built their process around speed. They assess six months or more of bank statements electronically, lend without property security, and publish decisions in minutes or hours with funding from the same day. See unsecured business loans for their limits and floors.

Banks' online business loans: minutes to decide, days to fund

NAB QuickBiz and ANZ GoBiz decide online in minutes on your bank or accounting data. NAB publishes that funds are available instantly on a business day once you are approved and have accepted the documents; ANZ publishes funds within 2 business days of returning the signed documents.

Lines of credit and overdrafts: fast to set up, instant to draw

Once a limit is approved, drawing on it is immediate. Lumi publishes same-day approval and funding on its line of credit, and Shift approval within hours on overdraft limits under $500,000. For recurring gaps, a business line of credit set up in advance beats a rushed loan each time.

Invoice finance: quick once the facility exists

Setting up the facility is the slow part; after that, each invoice can be funded quickly. Fifo Capital publishes a 24-hour facility set-up and same-day advances on its selective invoice finance, and Earlypay aims to advance within 24 hours of approval. See invoice finance.

Secured and property loans: the slowest

A loan secured by property needs a valuation, title searches and security documents before it settles, which adds days to weeks. It is also usually the cheapest, so if the deadline allows, it is worth the wait.

What speeds do lenders publish?

Each figure is the lender's own published claim, read on its website on 30 September 2026, with the condition it attaches. A published speed is a best case for a complete, approved application, not a guarantee for every file.

What slows a business loan application down?

• Uploading statements instead of connecting your bank. Prospa publishes that uploaded copies take longer than its bank verification link; Bizcap that linking statements fast-tracks approval.
• Applying outside business hours. Prospa's one-hour response applies to applications made during standard business hours.
• Books that are not up to date. ANZ GoBiz asks for six months of reconciled accounting data, and Earlypay's 24-hour approval aim applies to Xero or MYOB AccountRight users.
• Asking for more than the unsecured limit. Above a lender's unsecured ceiling (Prospa asks for property ownership above $150,000; Shift assesses limits from $500,000 on financials) the file needs security or financial statements.
• Security that needs a valuation. Property takes days to weeks to value and document.
• Credit or ATO issues. A default or tax debt on the file means more questions, or a different lender.
• Missing documents. ID for every director, the ABN details and the loan purpose, ready before you start.

What should you have ready?

• Photo ID for each director or owner
• Your ABN or ACN, and GST registration details
• Online banking access for the business account, to connect six months or more of statements
• Your last four BAS, and accounting software reconciled to date
• The amount, the purpose and the term you want
• Details of any ATO payment plan or existing business loans

What does a fast business loan cost?

Higher rates

Fast loans are mostly unsecured, and unsecured lending prices above secured lending because the lender has no asset to fall back on. Many online lenders quote a total repayment figure rather than a rate, so ask for the total cost in dollars.

Short terms and big repayments

Short terms keep total interest down but push the repayment up. On $50,000 at 20% p.a., a 1-year term costs about $4,632 a month and $5,581 in interest; a 3-year term about $1,858 a month but $16,894 in interest.

Daily or weekly collections

Many online lenders collect daily or weekly. Check the collections fit your cash cycle, because a missed debit costs more than the rate difference between lenders.

Does a broker make a business loan faster?

The lender sets the timeframe. What a broker adds is knowing which lender's criteria and published speed fit your file before anything is lodged, so you are not declined by the fastest lender and left starting again with the second. It also keeps unnecessary enquiries off your credit file.