Don’t let the stigma of taking a short term loan inhibit you from growth and expansion!
Short term loans can provide your business a way to overcome the financial hurdles that occur in a business. Alternately, Short term loans can give your business a chance to take advantage of a business opportunity in a moment’s notice.
When are short term loans good for your business?
Short term loans have many good uses for your business. You may need to pay off taxes to avoid late fees and problems with the IRS. A shortage of cash flow can happen and long term financing is not the answer for a short term problem. New businesses may need to fund their supplies and inventory levels. Vendors may need to be paid as to not incur added interest and late fees. A short term loan has its place in small business, but would it work for you?
What are some advantages to short term loans?
Short term loans can help boost your credit scores since they are set up for a short length of time. You can experience a fast boost in your credit scores, as long as the loans are paid timely. Short term loans mean short term debt. People don’t tend to overspend, knowing their funds are limited.
How exactly does a short term loan work?
You fill out an application and a decision is made soon after. We work with many lenders that compete to earn your business. No minimum personal credit needed. No obligation to accept any offers. Get pre-qualified and choose what works best for your business.
How do the re-payment plans work for short term loans?
Re-payments on short term loans are set up for a shorter amount of time. Short term payments are usually made daily or weekly based on a factor rate as opposed to an APR. These loans are usually paid off in a year. You will borrow less capital than a long term loan, but you’ll pay this loan off in a much shorter time. Short term loans are mean to be working capital for your immediate business needs.
Advantages of short term borrowing
It’s a great way to build your business credit. Maybe a very important piece of equipment like stoves, burners, coolers went out in your restaurant, a short term loan can help you solve this problem. Bottom line you need working capital for your business to survive and you don’t have time for the long term loan process. Financing Your Way can get you the short term loan your business needs to boost your business opportunities.