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FastPay is a direct lender that provides working capital growing companies in the digital economy, particularly businesses with clients that have long payment cycles. If your business makes money from apps, digital advertising, games, and creative projects, you may be a good candidate for a credit line with FastPay.

FastPay was founded in 2009 by Jed Simon and is based in Los Angeles. It markets itself as an alternative to venture capital for startups with cash flow problems that don’t qualify for traditional business loans and don’t want to (or can’t) sell equity in exchange for working capital. Since 2009, FastPay has originated over $1.5 billion in loans to more than 3,000 clients.

How does FastPay work?

Fastlane is FastPay’s finance platform. It works like a credit card, except your line of credit depends on the balance of your pending invoices (i.e. accounts receivables), not your credit score or annual revenue. Businesses can receive up to 70% of their invoices balance.

For example, if you have $100,000 in unpaid invoices, you may qualify for up to $70,000. You pay a monthly interest on the balance of your line of credit. However, there are no monthly maintenance fees, so there is no cost to having an open line of credit. In that sense, it’s like having a business credit card with no annual fee.

What are Fast Pay’s interest rates?

Fastlane charges a 3% monthly fee, which depending on the loan term could translate into an APR of up to 52%. However, loans are payable once an invoice is paid so most loans have terms of four months or less.

How much money can I borrow from Fast Pay?

Initially, borrowers can apply for credit lines of up to $100,000. After four to six months, borrowers can apply for a line increase. There is a minimum credit line of $5,000 for first-time customers. But after the initial funding, there is no minimum amount.

Which states does Fast Pay operate in?

FastPay is available in all states except Montana and South Dakota.

What is Fast Pay’s Application Process like?

FastPay requires borrowers to have accounts receivables that can be confirmed. Unlike traditional loans and business credit cards, there are no other financial requirements, and you don’t have to provide a personal guarantee. The minimum credit score is 500. New businesses are welcome, but only corporations and LLCs (not sole proprietors) are eligible. Funds are available within two business, and there are no late payment fees.

To apply, sign up for an account and provide your company’s bank information. If your business uses an online accounting SaaS provider, such as QuickBooks, the process is even easier. Once approved, upload the invoices you would like to finance so they can be verified and funded. If you use a media dashboard, such as ApplNexus, Google, or AOL, you can link directly to FastPay and get automatic funding. Funds are typically available within 2 business days.

How is Fast Pay better than other lenders?

FastPay provides a source of income to startups and growing companies that don’t qualify for traditional loans. You don’t need to provide a personal guarantee or have a high credit score. The only financial requirement is to have unpaid invoices that can be reviewed online. There are no origination fees or any other hidden costs except the 3% monthly interest.

FastPay is not for everybody. It specializes in adtech startups, agencies, and publishers who are hungry for cash and have to deal with long payment cycles. However, if you fit the requirements it’s a nifty way to get the working capital you need to build your company without having to sell chunks of it to angel investors and venture capitalists.

SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


  • Headquarters
  •   8201 Beverly Blvd, Suite 600
    Los Angeles, CA 90048 USA
  •   Visit Site


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  Available in 48 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
Credit Score Range 500 - 850
850 300 500
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Loan Amount $5K - $100K
APR 3% - 52%

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