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Short-Term Business Loan
The multitool: handy, flexible, and the one to have in your back pocket.
- What is pledged
- Collateral may be asked
- What credit is asked
- “Solid credit”
- How long you must have traded
- 2 years
- What revenue is asked
- Not stated
- What it may be spent on
- Costs, slumps, short projects
- How it comes back
- Like a term loan, compressed
Short-term loan
What a short-term is, from this office's own page
A short-term loan covers unexpected costs, a slump, a short project, or a new opportunity that will not wait. It is the same shape as a term loan with the repayment compressed, which means less interest paid in total and a larger payment each period.
Qualifying asks for solid credit and two years or more in business, which is the longest trading history anything on this site asks for. Your lender may also ask you to put down collateral to secure the loan.
A funding manager compares the rates, terms and payments across the offers before anything is signed. Being in a hurry is exactly the condition under which the wrong short-term loan gets taken.
What holds
Where the banner is true of this one
- What it may be spent on: Costs, slumps, short projects
- How it comes back: Like a term loan, compressed
The application
Get your loan offer
One application reaches the whole network and qualifies you for all six programmes. There is no application fee, no cost to apply and no obligation to take anything that comes back.
Rather talk to somebody first? (866) 221-4074.
The grid
Its column, beside the other five
| What differs | Business Term Loan | Business Line of Credit | Short-Term Business Loan | Working Capital Loans | Equipment Financing | Business Cash Advance |
|---|---|---|---|---|---|---|
| What is pledgedThe banner says No Collateral. One of the six is secured on a thing, two more may ask. | Not stated | A personal guarantee may be asked | Collateral may be asked | Nothing | The equipment itself | Nothing |
| What credit is askedThe banner says Bad Credit is Ok. Two of the six publish a floor and two more want “solid credit”. | Not stated | 560 or higher | “Solid credit” | “Solid credit” | 650 or higher | Lenient — it leans on takings |
| How long you must have tradedThe widest spread here: six months for one programme, two years for two others. | Not stated | 6 months | 2 years | 2 years | 12 months | Not stated |
| What revenue is askedTwo of the six publish a revenue floor. Four say nothing about it at all. | Not stated | $50,000 a year | Not stated | Not stated | $50,000 a year | Not stated |
| What it may be spent onThe banner says No Restrictions. Five are open; one buys a specific thing, which is the point of it. | A major capital investment | Almost any business need | Costs, slumps, short projects | Growth, and day-to-day | The equipment | Not stated |
| How it comes backThe one figure block gives all six a 12-36 month term. Two of them have no term in that sense at all. | Fixed rate, fixed period | Revolving — interest on what is drawn | Like a term loan, compressed | Short-term | Over the equipment's life | Out of future earnings |