In a nutshell, a short term loan is the sprinter of the loan world - you can get funds in as little as a day. Built specifically for speed, you can it to meet sudden financing demands like new business opportunities or managing cash flow. And if you need unexpected cash for your small business, a short term loan can be a convenient antidote.
It should be noted that all this speed and convenience doesn't have to come with a sky-high interest rate. Short term loan rates can be as low as 8%. You can also benefit from fixed interest rates or fees and fixed monthly payments.
Qualifying for your short term loan isn’t particularly difficult. If your business has been up and running for at least a couple years and you’ve got good credit, consider yourself a prime candidate. Just know that in some cases, lenders will also want some collateral.
If you’re interested in a short term loan for your small business, we’re happy to help. We work with a network of lenders who specialize in this type of financing, and all it takes to connect with them is completing our 15-minute application.