Short Term Financing

Whether it be to cover gaps in cash flow or for emergency expenses, during times like this, a short-term business loan may be exactly what you need. Short-term business financing is a type of financing that provides a business with the funds it needs to cover its short-term expenses and cash flow needs. This type of financing is typically used for small business operations that need to bridge a gap in cash flow or cover unexpected expenses.

Worried about your credit score? You may still qualify for a small business loan. Lenders are more concerned with the overall status of your business. As long as your business is in good financial health, you may still be approved for a short-term loan. Repayment options are flexible, ranging from 3 to 18 months, depending on your credit and business history and can be remitted daily or weekly. 

Examples of short-term business financing options include:

Business lines of credit: A line of credit is a flexible financing option that allows a business to draw on a predetermined amount of funds when needed. The business only pays interest on the funds that it actually borrows, and can repay the borrowed amount over time.

Invoice financing: Invoice financing, also known as accounts receivable financing, allows a business to receive cash upfront for outstanding invoices. This can help improve cash flow and reduce the time it takes for a business to receive payment from its customers.

Short-term loans: Short-term loans provide a business with a lump sum of cash that is typically repaid over a period of 6-18 months. These loans are often used for unexpected expenses or to bridge a gap in cash flow.

Merchant cash advances: A merchant cash advance is a lump sum of cash that is given to a business in exchange for a percentage of its future credit or debit card sales. This type of financing is typically used by businesses that have a high volume of credit or debit card sales.

Short-term financing can be beneficial for small businesses that need to access funds quickly, but it's important to carefully consider the terms and interest rates associated with each option. Short-term financing can be more expensive than traditional long-term loans, and it's important to make sure that the cost of the financing doesn't outweigh the benefits of the funds.

Once approved, you can receive funds in as little as 48 hours. Complete our online application to see the rates you qualify for today. One of our specialists will reach out to you to assess which short term loan will work best for your budget.