Short-term business loans

A short-term business loan provides you with quick working capital typically repaid in daily or weekly installments over a period of 3-18 months. This type of business capital loan provides borrowers with one upfront sum of cash that can be used to fund any company need.

For instance, short-term small business loans can be used to finance renovations, prepare for the busy season, buy inventory or cover operating costs.

They’re best used to fill a short-term financial gap. That is, they’re not well-suited for high-cost, long-term projects that could take years before you see a return on your investment.

Easy to qualify for

Unsecured short-term loans are easier for small business owners to qualify for.

Banks typically require businesses to be in operation for 2 years or more, annual revenue of at least $500,000 and a personal credit score above 675.

With more accessible qualifications, your business could obtain the funds you need to grow. Annual revenue of $75,000, a credit score of 540 and a business history of at least one year is generally enough to qualify you.

Fast to fund

With a short-term business loan, you can be approved within hours and see the funds in your account as soon as the same day.

Conversely, acquiring a business loan from a conventional lender can take weeks to several months.

Faster payoff structure

Loan amounts are generally smaller and the repayment terms are drastically shorter. It’s not uncommon for a short-term loan to feature a payoff period as abbreviated as 3 months.

How much a short-term loan costs depends on a variety of business aspects, including your credit score.

Use our interactive short-term business loan calculator to estimate your total cost of borrowing.  

Qualifying for a short-term business loan is faster and easier than qualifying for a conventional term loan.

Short-term business loan lenders consider a variety of factors, including your annual revenue, time in business, average daily sales, profit margins and your intended use of funds.

Lenders increase approvals by spreading risk across multiple business attributes. While your credit rating is taken into account, it holds less clout. This is because significant and consistent cash flow can reduce other financial details that may otherwise prevent a business from securing a business term loan.

Step 1: Tell us about your business.

Fill out a few basic questions about your business so that we can connect you with the best lenders.

Step 2: Tell us about you.

We need to learn about you so we can determine your eligibility without impacting your credit score.

Step 3: Connect your bank account.

Your revenue data enables us to match you to funding opportunities from our network of online business lenders.

Step 4: Get funded.

Funds can be deposited into your bank account as soon as the same day.

Fast Capital 360 brings together some of the best short-term business loan lenders through one straightforward application.

Each application process is slightly different depending on the lender, but the fundamentals are the same: You fill out an online application asking for basic information about your company and how much funding you’re looking for.

With the information you provide, we’ll work with our short-term online funding partners to determine if your business meets their qualifications.

Applying is fast, easy–and most importantly–won’t impact your credit.

What you’ll need to qualify:

• 
  Time in business
  1+ years
• 
  Annual revenue
  $75K+
• 
  Credit score
  540+