What are Short Term Loans?
Short term loans are designed to meet urgent financing needs, like improving the cash flow, dealing with unexpected funding needs, and taking advantage of new business opportunities. A short term loan can cover such costs while keeping your daily accounts payable intact.
Short term loans can be extremely beneficial during a growth period, or times of fluctuating cash flow, or when there is a need for seasonal purchasing. If you know that taking the loan will put you in a position to pay back the loan quickly, a short-term loan might be the right solution.
Who is eligible for?
In order to qualify for a short term business loan, your business or venture has to be 1 year old, personal credit score must be 500+, $50K business sales in the previous 12 months, over 700+ industries served, no penalty if paid before the time and the business can operate from anywhere in the US.
How to apply for?
Scoring the best unsecured short term loan for small business is not as difficult as you think it to be. If you have excellent credit and you have been in business for 2 years or more, you stand a great chance of qualifying for a short term loan. In fact, your lender may ask you to pledge some collateral in order to avail the loan. All you need to do is to just fill out our no-cost, no-obligation application to compare short term loan options from 100+ lenders.
How does it benefit your business?
You can utilize the short term loan to cover your unpredicted costs, finance a short term project, survive a slump or even leverage a great business opportunity. Definitely, this loan is like the Swiss Army Knife of loans and that makes it a handy and flexible for all your short term capital requirements.
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