Rates as low as 9.99%.
(4 Months or more)
Growing your business has never been easier.
Short-Term Business Funding: There When You Need It
Every business owner has had at least a few instances where they needed money fast. Whether they needed a seasonal business loan or were in dire need of quick repairs, it’s a natural part of running a business. Short-term business funding is the process of receiving capital quickly, using that cash flow as needed and then paying it back in small installments over the course of a four or six-month term. These small, short-term business loans are often a huge difference maker during an important time, bridging the gap between almost possible and in your grasp.
In recent years, the need for quick working capital has grown exponentially; small business owners need to stay competitive, and sometimes a short-term loan is the best way.
Sure, a short-term loan sounds great – but, with so many variations of short-term business funding, how do you know where to begin? Never fear, let’s dive into the process now and clear up any concerns.
Why Choose Short-Term Capital?
The disadvantage to short-term business loans is that they tend to have a higher factor rate than other forms of small business funding. In many cases, however, the benefits of short-term finance outweigh the higher interest rate.
Our online business financing service is unsecured, so you never have to pledge collateral just to receive your loan. With Fast Capital 360’s short-term business funding, cash can arrive in as little as one business day.
How Does Short-Term Business Lending Work?
Short-term business finance works in much the same way that traditional loans do. Once you’re approved, you receive a set amount of cash then pay it back with the included funder’s fees over the course of several months.Repayment structures involve a daily, weekly or monthly scheduled payment. Unlike the hidden fees often associated with loans, the factor rates of our cash advances are clearly explained in the funding agreement, this way you know exactly how much you’re paying and when you’ll be making payments.
Oftentimes, short-term business funding programs have daily payments. The daily structure is a lesser burden than monthly payments, allowing businesses to budget more easily and feel more confident in their payment schedule.
The factor rate for short-term business funding is based on a number of factors, the most predominant elements of which are:
– Business revenue
– Short-term business history
– Long-term business history
– The overall health of the business
Short-Term Business Funding with Fast Capital 360
Regardless of how long a business has been operating or where, virtually everyone runs into at least one of the above problems. When they do, the big banks often don’t do enough to get a business through their more difficult financial scenarios. That’s where we do things differently. Unlike loans, our small businesses funding is built to provide you with the right amount of cash flow as quickly as possible. You shouldn’t be forced to wait around for months just to receive a funding decision. After all, you have a business to manage.
We understand that the decision to take out a short-term loan is a big one. Our business advisors are here to discuss every option available to you and to lend their knowledge of the industry without ever pressuring you to make a decision.