What Is a Short Term Loan?
A short-term business loan provides a lump sum of capital that is repaid over a shorter period, usually with fixed, predictable payments. Approval is based largely on your business's revenue and performance, which makes short-term loans fast to obtain and accessible to businesses across a range of credit profiles.
A Good Fit For
- Taking advantage of a time-sensitive opportunity
- Purchasing inventory or supplies
- Covering payroll or a temporary cash gap
- Businesses that need funds within days, not weeks
What You'll Need
- A short application
- Recent business bank statements
- Basic business and owner information
How It Works
- Apply. Complete a short application online or by phone. It won't affect your credit score.
- Review your options. A funding specialist explains your offers, including total cost and terms.
- Get funded. Accept the option that works best for you and receive your funds.
Short-term loans can fund in as little as 24 hours after approval. Amounts and terms depend on your revenue and business history.