Emergency Business Loans
A Comprehensive Guide To Emergency Business Loans
6 Min. Read
Table of Contents
- Why Would My Business Need an Emergency Loan?
- Where Can I Get the Best Short-Term Emergency Business Loan?
- How Do I Apply for Emergency Business Funding Online?
- Why Should I Apply for Funding Through Fast Capital 360?
- Can Anyone Qualify for an Emergency Business Loan?
- I Need a Short-Term Emergency Business Loan, Now What?
Running a business comes with its fair share of unpredictability. Even the most meticulous business plan can’t always prepare your company for everything the world has to throw at it.
When you find yourself face-to-face with an issue you couldn’t have seen coming, an emergency business loan might be your best solution.
An emergency business loan is best described as fast, accessible funding that can be used to help your business cover unexpected costs. The most common type of emergency business funding is a short-term business loan that can get you and your company through a temporary cash flow deficiency.
Why Would My Business Need an Emergency Loan?
As a business owner, even if you believe you’ve prepared yourself for anything, you’ll see things that would never have crossed your mind prior to seeing it with your own eyes. Emergencies happen and unexpected expenses can be tough for a business owner to manage.
When you might use an emergency business loan:
Replace or repair business equipment
Every business has a piece of equipment that either makes its workers’ jobs possible or contributes greatly towards doing that job efficiently.
Replacing this type of equipment can be expensive, but necessary, especially if your business relies on it heavily for its daily operations.
An emergency business loan can help get your business the equipment it needs to continue operating normally.
Cover a customer’s unpaid balance
If your business manages multiple customer accounts and one or more of those customers are unable to pay your company for its services on time, it may have an effect on the way your business is able to function.
Emergency lending can get your company the funding it needs to help make ends meet while you wait for outstanding balances to be paid.
Pursue time-sensitive business opportunities
Another great use for an emergency business loan is to take advantage of a rare business opportunity.
Emergency funding can help your business finance on an opportunity to improve your business, like a limited-time discount on a product you’ve been waiting to add to your inventory.
Where Can I Get the Best Short-Term Emergency Business Loan?
Finding a loan that fits your business’s current state is hard enough on its own. Add a need to act quickly into the equation and things become even more complicated.
Some situations lead business owners to rush into a loan because they need the funding. That’s when issues with high payments and interest rates can occur.
Fast Capital 360 is able to help your business find the loan that makes sense for your current situation.
What we do is provide you with your business’s best emergency loan options and allow you to compare the different products that your company qualifies for.
Comparing the options available from some of the industries leading funders allows you to consider both the short and long-term benefits for your business.
Benefits of an Emergency Business Loan
- Overcome a temporary need for funding
- Avoid stretching your business thin on funds
- Keep running your business as normal without having to make cutbacks
- Seize opportunities that optimize your business’s growth
- Short-term emergency business loans allow you to avoid long commitments
- Don’t allow a short-term issue to affect the way your business operates long-term
How Do I Apply for Emergency Business Funding Online?
When you need an emergency business loan, the last thing you need is a lender that is going to drag its feet throughout the application process.
Fast Capital 360 uses an online application designed to keep things quick and simple.
All you’ll need to provide is basic information about yourself and your business’s four most recent bank statements.
Why Should I Apply for Funding Through Fast Capital 360?
Approval within hours
At Fast Capital 360, we are dedicated to helping businesses find the right funding option. Once you complete your online application, we start working for you. You might receive a call from one of our experienced Business Advisors in as little as 60 minutes.
Short-term financing is perfect for emergencies. You’ll be informed by your Business Advisor on what options are available for your business. If you find the funding you’re looking for, all you’ll need to do is sign your contract and you could receive your funding by as soon as the following business day.
Our Business Advisors are here to help you any way they can. Whether that means getting you funded as soon as possible or pointing you in a different direction that may better serve your company. If for any reason you are unhappy with the options we were able to provide you, there is never any pressure to sign a contract.
Can Anyone Qualify for an Emergency Business Loan?
The best solution for a business emergency is a short-term loan.
Short-term business loans are offered primarily by alternative lenders.
This type of loan is helpful for business owners who:
- Need funding fast
- Hope to avoid a long-term commitment
- Are looking for an alternative to traditional long-term loans
Getting a short-term business loan can help owners more easily navigate unpredictable events and the costs that come with them.
The minimum qualifications required for a short-term emergency business loan are:
- At least 6 months in business
- $75,000 in annual revenue
- A credit score of 500 or better
If your business meets these qualifications, you are the type of applicant that short-term lenders typically approve.
I Need a Short-Term Emergency Business Loan, Now What?
If your business needs emergency funding and you aren’t sure where to turn, we can help.
We know how overwhelming it can be to sift through an oversaturated industry of lenders who all claim to offer the best funding options for your business. Not only can this process be confusing, but it may also take longer than you and your business can afford to wait.
When you apply with Fast Capital 360 we take the information you’ve provided us and bring it to some of the industries leading lenders to find you the loan you’re looking for fast. Many of our approved applicants even receive funding as soon as the following business day.
The next time you have a business emergency, instead of feeling defeated, feel relieved to know that there are options available aimed specifically to help you and your business through its tough times.