Making long-term plans and setting lofty goals for your business is a wonderful way to motivate yourself and your staff. However, sometimes a business needs to think short term to navigate a tricky financial situation. Luckily, you won’t have to sweat applying for a fast business loan –– provided you know where to look for one. That’s why we’ve compiled a shortlist of the best short term loans available to small businesses so you can rest easy knowing your options:
Many moons ago, physically going to the nearest bank was just about the only way you could secure a business loan. However, we’ve come a long way since then. You’ve got plenty of alternatives to choose from besides traditional banking methods, and that’s a good thing. Because while you may still be able to qualify for a loan, getting a loan approved fast for a short-term stopgap is going to prove difficult at a bank. Plus, you’ll probably end up paying a diabolical interest rate, or need to offer significant collateral in return.
Merchant Cash Advance
A merchant cash advance can be a tremendous way to see your business through a slow seasonal period. That’s because with a merchant cash advance, you’ll pay the advance back with a percentage from your credit card sales, rather than a fixed amount every month. If your business goes through peaks and valleys often, this may be a great way to maintain a steady cash flow.
24 Hour Business Loan
If you find yourself in a situation where you need an injection of cash quickly to complete a major project, or deal with an unforeseen emergency –– don’t worry. There are ways you can apply for a loan and receive the capital you need within a twenty-four hour period. The key here is to have a plan for just such a situation. It’ll help you stay calm and make the right choice to fund your company. And best of all, you can get the loan you need in less than a day!
The Best Short Term Loans Have Long-Term Benefits
You should always keep in mind that the best short-term financing options for your business will improve your company’s standing in the long run. The decisions you make on a day-to-day basis will help mold the way your business grows –– and to do that you need capital. So if you’re interested in exploring alternative lending options, contact the National Business Capital team today. We can help you secure funding, no matter what your situation or credit history might be. And for more information on how to find financing when the banks say no, download our free eBook here: