Short-term business loans

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Easy to qualify

Thanks to flexible requirements, most borrowers qualify.

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Same-day funding

Apply for a short-term loan in minutes and get funded within 24 hours.

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No restrictions

Use your loan for any business purpose. No restrictions equals maximum flexibility.

Meet your immediate needs with a short-term loan

A short-term loan is a perfect option if you need capital in a pinch.

Use it to cover an emergency expense or act on a time-sensitive opportunity. You can apply in minutes, get approved in hours and funded within a day.

Short-term loans are repaid in 3 to 18 months, so there’s no long-term financial commitment.

  • Coins stacked on table with blue arrow pointing up
    Financing amount Up to $500,000
  • Calendar image appearing as though the page is being flipped
    Repayment terms 3 - 18 months
  • Speedometer icon
    Interest rate Starting at 10%
  • Dollar sign in circle
    Funding available in Same day

Short-term loans made easy

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Short-term business loan requirements

Short-term loans are generally easier to qualify for than other loan types. If you’ve been in business for at least a year and you have a fair credit score, chances are, you’ll qualify for a short-term loan.

What you’ll need to qualify:

  • 1+ year in business
  • $75K+ annual revenue
  • 540+ credit score

Best short-term business loan uses

Short-term loans for business owners are one of the most flexible financing options available. The proceeds can be used to finance just about any business expense.

Hire more employees

You can only be in one place at one time. Naturally, this can limit your ability to grow your business. Short-term loans can help you bring on new employees by bearing the upfront costs of hiring.

Purchase new inventory

If you have a customer looking to place a sizeable order, but they won’t be able to pay until the end of the month, a short-term business loan can provide you funds to pay your vendor and avoid missing out on a huge sale.

Fund your marketing campaigns

Attracting more customers to your business is a goal every owner has. But bringing new buyers in can come with high upfront costs. A short-term loan can provide you with the funds required to reach your target audience.

Manage your cash flow

Use short-term financing to make payroll, cover rent or finance a short-term project. The ability to better manage your cash flow opens endless possibilities.

Upgrade equipment

Whether you’re working with computers in an office environment or heavy-duty machinery on a construction site, a short-term loan can help you acquire the equipment that powers your business.


Short-term business loan FAQs

What is a short-term business loan?

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.

What are the short-term business loan benefits?

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.

What will a short-term business loan cost?

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.  

How can I qualify for a short-term business loan?

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.

How can I apply for a short-term business 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+

 

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