Understanding a Short Term Business Lending
Think smartly, act quickly. Surprises may be just around the corner. obligation to use it.
SHORT TERM LENDING
A short-term business loan is used to provide small businesses with quick access to funding to meet short-term capital needs. Typically, short-term business loans are used to manage cash flow, deal with emergencies and unexpected opportunities, and bridge larger financing solutions.
Typically, a short-term business loan has a term of one year or less (sometimes 18 months or less) and is structured as a lump sum loan with daily or weekly repayments. Compared to other business loans, short-term loans often have smaller loan amounts and higher interest rates, but are funded much more quickly.
Although some banks offer this type of financing, short-term loans for small businesses are usually available from alternative online lenders. In this way, short-term loans with streamlined application processes, fast funding, and flexible requirements are a good option for a variety of small businesses with a range of short-term financing needs.
Details
MAX LOAN AMOUNT:
Up to $250,000
LOAN TERM:
3 to 18 months
INTEREST RATES:
Starting at ~10%
SPEED:
As fast as 1 day