Guide to Disaster Loans, Emergency Money and Fast Cash

Get a disaster loan from the SBA

The U.S. Small Business Administration (SBA) doles out disaster loans to businesses affected by natural disasters. The loans come in two types: funds to repair or replace businesses that suffer physical damage, and funds to help businesses that suffer economic losses. To qualify, businesses must be located in a declared national disaster area and show physical or economic hardship from the event. Loans up to $1.5 million (for physical damage and economic injury combined) are available.

I recommend: Download the SBA disaster loan application and filing requirements. If a disaster has been declared in your state, a federal Disaster Recovery Center (DRC) may provide help in landing an SBA disaster loan. You can also access a page on the FEMA Web site that provides links to other disaster assistance.

Get a cash advance

For a sudden cash squeeze, consider a cash advance against your receivables. Companies that specialize in business cash advances will front you cash quickly (often in a few days) and accept your future receivables as payment. A business with a strong cash flow can qualify for a significant cash advance of $250,000 or more with little paperwork. But be careful — the cost can be significant, and you'll be pledging your future business income for the quick infusion of cash.

I recommend: Premier Business Funding offers cash advances of up to $250,000. Business Cash Advance offers up $150,000. Business Capital Corp. makes cash advances to businesses that do at least $4,000 per month in credit card sales.

Get a quick loan

Certain lenders specialize in providing quick loans to businesses with fewer restrictions than conventional lenders. Although their rates can be high, approval comes in as little as two days, with the cash arriving shortly afterwards. The loans often are unsecured loans or use equipment as collateral.

I recommend: America One Funding offers loans of up to $50,000 within three days. Unsecured Solutions makes fast unsecured business loans of up to $500,000. SCF Funding makes quick-turnaround loans of up to $150,000 against your equipment assets.

Use your business credit card

Your business credit card can also be a source of relatively quick cash. Credit cards like Visa and American Express also offer business lines of credit that allow you to apply through the same process as your regular credit card. Your approval process is usually quicker if you apply through an existing business credit card. Again, the interest rate can be high, so it's best to use this method if you can pay off the balance quickly.

I recommend: Visa and American Express offer information, including application instructions, online.