Short Term Business Loans
In the business world which moves at an incredible speed, the capability to access funding rapidly can spell the difference between failure and triumph. That's where short term loans for business come in. The purpose of this type of loan is very obvious: you get the cash income for the development of your business in a short time. Also, thanks to a reduction in the repayment period, you save on interest. At Fundshop, we specialize in providing short-term business loans to businesses of all sizes and industries.
What is a short-term loan?
If while running a business, you are faced with the need to inject funds into it in the short term for development or survival, short-term loans may be the answer. What is the difference between this type of loan and others? It’s simple. Short term small business loans pay off in a shorter period of time, which reduces the interest you pay for using the funds. In addition, the advantages of such loans include the fact that they carry as much paperwork as bank loans. This way you can get the funding you need fast, without having to wait weeks for the green light!
How short-term loans work
If your business needs funds as soon as possible to invest in its development or just keep it afloat, a short-term loan is your best option. After all, you will receive funds in the amount you need, you can invest them in your business, and return them within a period of 3 to 18 months (but of course we select the conditions individually, based on your business goals).
We use a combination of data points to provide you with optimum quick short term business loans proposals instantly, and we offer competitive rates and payment terms that you can live with. There's no obligation and no cost when you apply, so you can explore your options without any pressure.
If you opt to progress with a loan, our team will take you through the procedure step-by-step. We will collaborate with you to determine the financing amount you require, the loan term, and the interest rate that suits your company best. As soon as the team approves your loan (and this happens in 87% of cases), we will promptly give you access to funds so that your business feels a positive impact as soon as possible.
Best short-term business loans of 2023
Our practical process and reasonable rates give us the unique ability to get you the loan your company deserves up front. We stick around afterwards to provide you with a personalized game plan that maps out your future and meets your long term needs in the process.
At Fundshop, we believe that every small business should get the opportunity to shine on a brighter stage. Our convenient short term business loans can assist you in achieving your ambitions, no matter if you need resources for a certain endeavor or event, or just require money to keep your business flourishing.
Pros and cons of short-term business loans
Small businesses in need of quick access to funding may find a short-term loan to be a great financing solution. Nonetheless, it is essential to consider both the advantages and disadvantages that come with this financial product before applying. Let's explore the pros and cons in more detail:
Prompt access to capital: Short-term loans are structured to provide cash rapidly, often within a few days of approval. This can be incredibly beneficial for companies that must cover unforeseen costs or take advantage of a fleeting opportunity.
Reduced interest payments: Short term business loans generally boast a lower interest rate than longer-term loans, resulting in businesses saving money on interest during the loan's lifespan.
Flexible repayment schedules: Short-term loans offer a range of repayment alternatives, such as daily or weekly payments, which can help businesses regulate their cash flow and make payments more feasible.
No collateral required: Many quick short term business loans are unsecured, which means that businesses do not need to provide collateral in order to secure the loan. This can be a great option for businesses that do not have assets to pledge as collateral.
Build credit: Paying off your short-term loan on time will help you build your credit and make it easier to apply for larger loans to cover your business needs in the future.
Short repayment period: Usually such loans are repaid in short terms up to 18 months, which is why we recommend choosing them in specific conditions when you need to cover short-term business needs and you are sure that it will pay off.
Limited funding: Short-term loans are generally designed for smaller loan amounts, so businesses in need of larger amounts of funding may need to look for other financing options.
How to get a short-term business loan
Getting short term loans for business is quick and easy with Fundshop. Our application process is simple and streamlined, with minimal paperwork required. Our rates are competitive and our payment plans are adjustable to make sure that companies get the financing they need to prosper.
And you don’t have to go through the whole process alone, constantly forgetting which statement you still need to provide: after all, not only will you not need to get lost in a ton of paperwork, we will also assign you a manager who will accompany you throughout the process. We trust that procuring short term business loans for your company ought to be smooth and worry-free, with the least amount of documentation needed. Contact us to achieve your business goals as quickly as possible, without looking back at financial difficulties.
Our Business Advance Process
At the end of the day, we want you to get the funding your business needs, and we want you to get those funds fast and under terms which you can thrive. We make the process pain-free and stress-free with minimal paperwork required. We’ll walk you through every step of the way, from application process to pay day.
Our practical process and reasonable rates give us the unique ability to get you the loan your company deserves up front. We stick around afterwards to provide you with a personalized game plan that maps out your future and meets your long term needs in the process.
FAQ
What is a short-term business loan?
Short term business loans, also known as short term small business loans, are the perfect solution for businesses looking to cover those immediate costs. Typically, we are approached for loans with a repayment period of 3 to 18 months, and the funds are used for various types of business needs: from buying equipment to hiring employees with whom the company will take off and be able to take on a promising client. Additionally, short term loans for business often come with flexible repayment plans so you don’t have to worry about coming up with a large sum of money all at once. Whether you’re just starting off or you have an established business, short term business loans can provide the funds you need to help your company grow and succeed.
Can I get a short-term loan with bad credit?
A short-term business loan from Fundshop is perfect for businesses with bad credit, who are seeking immediate cash flow needs. Of course, usually a low credit rating can lead to interest rates that are more costly as well as collateral requirements, so our team will work with you to design a plan that meets your requirements and financial plan. Our mission is to provide the ideal solution for businesses of all sizes, notwithstanding their credit rating.
How long is a short-term business loan?
Generally, a short-term business loan must be paid off in 12 months or fewer; although, the actual duration of the loan will depend on what your business requires.
