7 Best Loans For Self-Employed People To Get Approved Fast

Getting approved for a loan when you're self-employed isn't always easy. Traditional banks often look for W-2 income, which doesn't reflect how freelancers, consultants, or small business owners earn. But some lenders understand the self-employed economy — and offer fast approvals without mountains of paperwork.

Here's a practical look at seven loan options that work well for self-employed borrowers, including what to expect, what you'll need to qualify, and how to apply.

1.     Bluevine – Best For Fast Working Capital

Loan Type: Line of Credit

Loan Amounts: Up to $250,000

Approval Time: As fast as 24 hours

Minimum Requirements: 600+ credit score, 6+ months in business, $10,000/month revenue

Bluevine offers a revolving line of credit that’s ideal for freelancers or business owners who need flexible access to cash. Instead of a lump sum, you borrow only what you need and repay over 6 or 12 months.

You don’t need perfect credit, and approval is based more on your business cash flow than your tax returns. Their online application is quick, and funds can be available as soon as the next business day.

Best For: Freelancers with consistent income and a need for working capital without long repayment terms.

2.     LendingClub – Best For Personal Loans With Business Use

Loan Type: Personal Loan

Loan Amounts: $1,000–$40,000

Approval Time: Often same day; funding within a few days

Minimum Requirements: 600+ credit score, proof of income (bank statements or tax returns)

LendingClub is a solid option if you want to use a personal loan to fund business expenses — or cover irregular income periods. While it’s not a business loan, many self-employed people qualify using their personal financials.

You’ll complete a short application online and receive multiple loan offers if you qualify. Terms go up to 5 years, and there’s no penalty for paying early.

Best For: Self-employed professionals who need a fixed-rate loan with a predictable monthly payment.

3.     Fundbox – Best For Fast, Automated Approval

Loan Type: Line of Credit

Loan Amounts: Up to $150,000

Approval Time: Decision in minutes; funds within 24–48 hours

Minimum Requirements: 600+ credit score, 6+ months in business, $100,000+ annual revenue

Fundbox uses an automated system that connects to your business bank account or accounting software to assess your application. That means you don’t need to upload tax documents or financial statements.

Repayment terms are 12 or 24 weeks, and you can draw on your line of credit as needed.

Best For: Small business owners who need fast access to funds without a paperwork-heavy process.

4.     Upstart – Best For Borrowers With Limited Credit History

Loan Type: Personal Loan

Loan Amounts: $1,000–$50,000

Approval Time: Often within 1 day

Minimum Requirements: 300+ credit score (or none), proof of income, U.S. residency

Upstart uses AI-based underwriting to approve borrowers with limited or no credit history. If you've only been self-employed for a short time but have a steady income and a college degree or job history, you may qualify.

They look at more than just your credit — like education and work experience — which can help new freelancers or gig workers get approved.

Best For: New freelancers or recent entrepreneurs who don’t yet have a strong credit profile.

5.     Credibly – Best For Subprime Business Owners

Loan Type: Working Capital Loan

Loan Amounts: $5,000–$400,000

Approval Time: Same-day approval possible

Minimum Requirements: 500+ credit score, 6+ months in business, $15,000/month revenue

Credibly serves small business owners who may not qualify for traditional financing. It’s one of the few lenders that considers applications with credit scores as low as 500.

Their working capital loans have short repayment terms (typically 6 to 18 months), with repayments made daily or weekly.

Best For: Self-employed people with poor credit but substantial business revenue.

6.     Kiva – Best For Zero-Interest Microloans

Loan Type: Crowdfunded Microloan

Loan Amounts: Up to $15,000

Approval Time: 30+ days

Minimum Requirements: Endorsement from a community member, crowdfunding from your network

Kiva offers zero-interest microloans, funded by individuals around the world. It takes longer to get funded, but it’s a great option if you don’t qualify for traditional loans and want to avoid high interest rates.

To apply, you’ll need to build a profile, get an endorsement, and share your campaign with your own network before it opens to Kiva’s larger lender community.

Best For: Freelancers, artisans, or micro-businesses looking for small, interest-free loans.

7.     American Express® Business Line Of Credit – Best For Amex Business Card Holders

Loan Type: Line of Credit

Loan Amounts: $2,000–$250,000

Approval Time: As soon as the same day

Minimum Requirements: Strong credit, active Amex business account

If you already have an American Express Business card, you may qualify for their business line of credit — even as a sole proprietor. The process is streamlined for existing customers, and approvals can be quick.

Interest rates are competitive, and you can manage the line through your Amex account dashboard.

Best For: Self-employed Amex customers with solid credit looking for fast access to funds.

How To Improve Your Chances Of Approval?

Here’s what most lenders want to see from self-employed applicants:

• Bank Statements: At least 3–6 months of consistent deposits
• Tax Returns: Especially for loans over $50,000
• Proof of Business: LLC paperwork, business license, or invoices if you’re a sole proprietor
• Credit Score: Most lenders prefer 600+, but some accept lower

Try to separate your personal and business finances. Having a business bank account can help demonstrate income stability, even if you're a freelancer.

Final Thoughts: Which Loan Is Right For You?

If you need cash quickly and have a consistent income, Bluevine or Fundbox are among the fastest to fund. For flexible funding with more forgiving credit requirements, Credibly or Upstart can be a fit. If you’re looking to avoid interest altogether and can wait a bit longer, Kiva offers a unique community-funded approach.

Not every lender is right for every self-employed person — so check the eligibility, compare terms, and go with the one that matches your income type, speed needs, and comfort level with repayments. Once you know your preferred option, start the application online — most lenders can prequalify you without impacting your credit.