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?
  • Who Qualifies for an Emergency Business Loan?
  • I Need a Short-Term Emergency Business Loan, Now What?

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Running a business comes with its fair share of unpredictability.

When you find yourself face-to-face with an issue you didn’t see coming, an emergency business loan might be your best solution.

What Is an Emergency Business Loan?

An emergency business loan is fast, accessible funding that can be used to help your business cover unexpected costs.

The most common types of emergency funding for small businesses are short term. Repayment periods rarely exceed 18 months.

Emergency business loans are also fast to fund. It’s possible to apply, get approved and funded within a 24-hour window. But this accessibility and speed does come at a cost. Generally, you’ll find emergency business funding have higher APRs than conventional loans for small businesses.

Why Would My Business Need an Emergency Loan?

Unexpected expenses can be tough for a business owner to manage, and there are several scenarios when you might need emergency business cash to keep operations running.

Replace or Repair Business Equipment

Every business has a piece of equipment that either makes its workers’ jobs possible or contributes greatly toward efficiency.

Replacing this type of equipment can be expensive, but necessary, especially if your business relies on it 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 affect how your business functions.

Emergency lending can get your company the funding it needs to help make ends meet while you wait for outstanding balances to be paid.

Unexpected business expenses, such as equipment repairs, can leave your small business scrambling for emergency cash.

Pursue Time-sensitive Business Opportunities

Another great use for an emergency business loan is to take advantage of a business opportunity.

For instance, emergency funding can help you take advantage of a limited-time discount on a product you’ve been waiting to add to your inventory.

Benefits of an Emergency Business Loan

Short-term Benefits

  • Overcome a temporary need for funding
  • Avoid stretching your business thin on funds
  • Keep running your business as normal without having to make cutbacks

 Long-term Benefits

  • Seize opportunities that optimize your business’s growth
  • Short-term emergency business loans allow you to avoid long-term financial commitments
  • Don’t allow a short-term issue to affect the way your business operates long term

Where Can I Get the Best Short-Term Emergency Business Loan?

Emergency business loans are offered primarily by alternative online lenders.

Alternative lenders typically have lower approval requirements than their conventional counterparts. This means if your business is young, you have lower revenue or bad credit, you might still have emergency business financing options. 

Alternative lenders are also known for their streamlined approvals driven by data analytics and online service enhancements. The application process is facilitated entirely online, decisions are made in hours and in certain circumstances, funds can be deposited the same day approval is issued. 

5 Ways to Get Emergency Business Cash Fast

Take Out a Short Term Loan.

Some lenders can approve up to $500,000 in short term funding, and capital can be released the same day as approval. These loans are usually repaid over a 3- to 18-month period.

Consider a Merchant Cash Advance (MCA)

With an MCA, the borrower receives a lump sum of cash in exchange for a portion of the business’s future sales — paid in daily or weekly installments over several months. Thanks to looser lender requirements, it can be easier to qualify for MCAs than for other types of financing.

Open a Line of Credit.

Like a credit card, a line of credit allows businesses to withdraw money — up to a maximum amount — to cover various expenses. Lines of credit can be secured with collateral or unsecured. Interest is paid only on the amount of capital withdrawn, and capital becomes available again after payments are made.

Use Your Unpaid Invoices as Collateral.

If you’re waiting on customers’ payments for goods or services, you can still get immediate access to a portion of that money with accounts receivable financing. The lender will fund the business with up to 80% of the money owed; once the invoice is paid, the business will receive the balance — minus any lender’s fees. This can be a good option for a business with little or poor credit history because lenders are more concerned with the customers’ likelihood to pay their invoices.

How Do I Apply for Emergency Business Funding Online?

When you need emergency funding for your small business, 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, along with your 4 most recent business bank statements.

Fast Capital 360 can help your business if you urgently need a business loan.

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.

Next-day Funding

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 as soon as the following business day.

No Pressure

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 might 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.

Who Qualifies for an Emergency Business Loan?

Getting a short-term business loan can help owners more easily navigate unpredictable events and the costs that come with them. Through our funding partners, Fast Capital 360 can likely provide emergency business cash to businesses meeting the following minimum requirements: 

  • At least 6 months in business
  • $75,000 in annual revenue
  • A credit score of 500 or better

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 lenders who all claim to offer the best funding options for your business. Not only can this process be confusing, 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 industry’s 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.

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