You will be happy to know there is an alternative to waiting lengthy periods for the Internal Revenue Service to send out your ERC refund. Businesses can get an Employee Retention Tax Credit loan without the standard prerequisites for a more traditional small business loan. That can create a quick capital infusion for your company.

If you want to know more about Employee Retention Credit (ERC) loans and what they can do for you, read on! We will cover these details and offer recommendations on who we think are the top five ERC loan providers today. Use this information to receive an advance on your business ERC refund through the service of your choice and avoid the wait.

We used several criteria to help determine our picks out of the many ERC services providers we examined. These included things like the application process, fees charged for services, time to process, and customer reviews, to name a few. Sifting through this data helped us select your best options for ERC lenders.


An Employee Retention Credit loan is an advance from a lender for your ERC refund from the IRS. The lending organization will advance a portion of your refund should you qualify, giving your business access to needed capital in a fraction of the time it will take for the Internal Revenue Service to process and send out your refund. Think of an ERC loan as a way to bypass the IRS waiting line.


Before applying for an ERC advance through a reputable ERC loan service, your company must have approval for an Employee Retention Credit refund. After establishing this, you can apply for the loan. The lending organization will give you a part of your refund total as an advance, often within 30 days.

In return, you will pay out a predetermined fee or amount of interest throughout the loan. When your processed Employee Retention Credit refund arrives, they deduct the loan total, and you receive the remaining refund.

Situations arise that require access to capital resources quickly, making the Employee Retention Credit loan an ideal source for a business in need. That fast capital is not without its costs, however. Weighing the short-term cash infusion against the long-term reduction in a total refund should factor into your decision about taking out an ERC advance.


A business will often qualify for an Employee Retention Credit loan if it has the approval to receive the IRS ERC refund. Note, though, that qualifying criteria will vary between ERC lending entities.

For example, some services have minimum refund amounts that your business must meet to qualify for the loan. Usually, cash flow, credit scores, and length of time you have been operating do not factor into qualifying for services.



1. Best Overall – Omega Funding Solutions

To start, Omega Funding Solutions makes things easy if you have a minimal ERC refund by declaring there are no customer minimum or maximum loan sizes. Those with larger refunds can take advantage, too, with everyone getting fast capital access through this lender.

If your business has qualified and applied for an ERC claim, this lending institution will work with you. That includes when Omega Funding Solutions did not file on your behalf. The application is simple, and you can get a decision on the potential loan within a day.

Lender's Fees and Terms

One area that Omega Funding Solutions could make improvements in is its transparency regarding standard fees and interest rates on the ERC loans it provides. Customers will need to contact the lender directly for this information, but they state they offer bridge loans at 12 months for advances up to 60% of your refund. Loan repayments begin once it clears, with a final balloon payment taken from your ERC refund check when it arrives.

Eligibility Criteria

The only criteria that Omega Funding Solutions requires are that you must have filled a valid Employee Retention Credit claim with the Internal Revenue Service. Other information like ERC refund totals, credit scores, and other business-related data do not factor into qualifying.

Waiting Period

Your waiting time depends on your status. If you are a new customer with Omega Funding Solutions, you may receive your Employee Retention Credit advance within 30 days. Established clients could receive a decision within a day at minimum and have the loan processed and closed within three days.


  • Application process is easy and quick
  • Loans as quickly as three business days
  • No minimum/maximum advance amounts
  • Receive up to 60% of your refund
  • No upfront costs
  • 12-month loans available


  • Fees are not transparent


2. Biz2Credit

We found the Employee Retention Credit loan application process fast, taking about five minutes to complete. The speed of the application process does not slow down there, as the staff can process loans as quickly as three business days.

We also like that they offer clients a specialist dedicated to assisting customers and supporting them through the entire process. Another thing you might like is the interest-only monthly payments.

Lender's Fees and Terms

Unfortunately, the lender does not provide its rates openly. You need to start the application process to discover these charges.

You can receive up to 65% of your refund in a 12-month loan. The maximum advance total is $500,000. This advance rolls over to an amortizing term loan for two years if your ERC refund doesn't arrive within the first 12 months.

Eligibility Criteria

Biz2Credit does have additional qualifying criteria beyond an existing ERC filing. The claim must be $100,000 at a minimum, and the company needs to have been operating since February 2020. You will also need a personal credit score of 660 to qualify.

Waiting Period

Some clients state that their loan applications went through within one business day, and others note their advance cleared within three days.


  • Application process is simple and quick
  • Advances available as fast as 72 hours
  • Maximum $500,000 advance amount


  • Requires minimum ERC refund of $100,000
  • Credit scores and time operating are qualifying factors


3. United Capital Source

You might appreciate that United Capital Source can be your one-stop ERC institution. The company will assist in filing your Employee Retention Credit refund and provide an advance against it. That may prove advantageous if you have yet to file your ERC claim, and it will cut down the entire process time.

They also work with any business that has already filed for its ERC claim, making them an option as an ERC lender for these entities. United Capital Source offers other small business funding services and maintains a solid public profile with satisfied clients.

Lender's Fees and Terms

This lender is not transparent about what it charges clients for its services. You must fill out the online application, and an agent will contact you about your ERC loan costs and related timelines.

Eligibility Criteria

United Capital Source requires a filed ERC claim and proof of full-time W-2 employees to qualify for an Employee Retention Credit loan.

Waiting Period

It will take one to two weeks for your ERC advance to process.


  • Application process is easy to do
  • Lender has minimal criteria
  • The company maintains a good reputation


  • Fees and terms not public
  • Their process is slower than some


4. Valiant Capital

Things work a bit differently with Valiant Capital. The company does not offer loans to clients; it buys their ERC refunds. It is worth noting that this method does eliminate monthly repayments and interest.

You pay the fee upfront, including the holdback. In return, clients usually receive funds in a month or less. The holdback is released after the ERC refund is received.

Lender's Fees and Terms

Luckily, Valiant Capital discloses costs ahead of time. You get charged 15% upfront; 5% goes towards processing, and 10% goes toward the holdback that releases once the refund is received. You will not need to hassle with monthly payments or pay additional costs and interest. That is the top benefit of this non-loan alternative.

Eligibility Criteria

However, there are additional criteria you must meet before using Valiant Capital services. A record clear of recent bankruptcies and felonies, good standing with creditors, and no back taxes are required. Also, board members/C-suite execs must sign validity agreements for nonprofit and foreign-owned entities.

Waiting Period

Should you be approved, you can expect to receive a payment within four weeks at most.


  • A simple application process
  • Fees are transparent
  • No long-term payment terms


  • You pay fees upfront
  • There are additional requirements


5. Peach Capital

Peach Capital is worth a look if you need access to capital quickly. This lender operates quickly, providing loan decisions in one business day in some cases. If you are an existing customer, your ERC loan will likely clear within days of their decision.

You can go through the application process quickly, and clients express that it is simple. Peach Capital has no advance limits for specific minimum or maximum amounts, and you won't have to pay any upfront fees. We also like that this lender has relaxed eligibility criteria, opening up their services that others may have disqualified.

Lender's Fees and Terms

The company provides 12-month bridge loans to customers without min/max amounts. These loans can reach up to 65% of your total refund value.

Repayments start once you receive the loan and finish with a balloon payment when your ERC refund comes in. Peach Capital is not transparent with its fees and rates, requiring you to begin your application before they get revealed.

Eligibility Criteria

The only criteria for qualifying for a Peach Capital loan is a legitimate ERC claim filed with the IRS. There are no other requirements.

Waiting Period

It can take up to 30 days for your advance to clear if you are a new customer. Existing clients can receive their loans as quickly as 72 hours.


  • Application process is simple and quick
  • Offers no minimum/maximum amounts
  • Advances in as little as three days


  • Fees are not public
  • Some unhappy clients


We reviewed several lenders and ERC services before coming up with our Top 5. We examined how easy it was to apply, what each company required, any loan limitations, processing time, and customer feedback head-to-head to produce these results.

With that said, your independent research will be crucial in finding the best company to work with and help you eliminate Employee Retention Credit loan scams. Credible ERC institutions should be able to provide a no-charge consultation to explain all processes and fees before you pay anything. Get clarification if you are unsure about the charges, terms, and timelines relating to the ERC loan.

Carefully weigh the pros and cons of taking an ERC advance because these loans cut into your total refund. The fast access to capital might prove advantageous if you need these resources immediately. If your business is okay financially, you might consider waiting for a larger refund total.

You are not alone if you have yet to file your ERC claim. There is still time to file, so do not miss the opportunity to collect the money your business could qualify for.

If you lack the time or need help filing for your Employee Retention Credit refund, we have also researched the best ERC services using a similar vetting process. These companies can keep your claim tax compliant and provide the greatest return, so check them out!

Frequently Asked Questions

1. Is an ERC loan legitimate?

You will find lending institutions and ERC specialist services that do offer legitimate Employee Retention Credit loans. These institutions provide quick access to part of your filed ERC claim while collecting reimbursement through upfront fees and balloon/monthly payments.

Please note that the Internal Revenue Service (IRS) has issued warnings about scams involving ERC, so you must research potential lenders and work with reputable companies to avoid being scammed. The list of lenders and ERC companies in our Top 5 above provide legitimate Employee Retention Credit loans and services.

2. Is borrowing against your ERC refund possible?

It is possible to borrow against your ERC loan with some lending or ERC specialist institutions. These companies will offer you a percentage of your filed ERC refund total. In return, you agree to pay the upfront fees, monthly payments, and balloon payments you may have arranged when you committed to using the lender's services.

3. Is it hard to qualify for an ERTC loan?

All ERC lenders will only offer loans to business owners with a current ERC claim filed with the IRS. You might also find a service that helps file for an ERC claim on your behalf. Some lenders will require specific credit scores, minimum/maximum refund amounts, or operating history.

Any additional criteria can affect the size of your advance. For example, if a lender requires that your company has a minimum refund total, they may offer more money on the loan. The Top 5 lenders listed above have different eligibility criteria that should match anyone's qualifying factors.

4. Do you repay this type of loan?

You must repay an ERC loan just like you would any other. Some services require upfront payments, monthly fees, balloon payments upon refund arrival, or a combination of these methods. The exact reimbursement amounts and types depend on the lending institution and the contract you sign.

You get the remainder of your refund once you fully repay the amount. Loans often resolve within 12 months, but clauses may exist to cover ERC refunds that take longer.

5. Is Employee Retention Credit still available?

There is still time to apply for the Employee Retention Credit refund. The ERC expired in September 2021, but rulings are in place that allow businesses and individuals to file retroactively in 2023.

If your company qualifies for claims during the second, third, or fourth quarters of 2020, you must file your ERC claim by April 15, 2024. If your business has eligibility to file claims for the first, second, third, and fourth quarters of the 2021 fiscal calendar, you have until April 15, 2025, to apply through the IRS Form 941-X.

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