Short term loans allow for very fast funding, so you get a lump sum of cash with a predetermined payment term. Payment is usually made daily, weekly or bi-weekly. The short term loan is best for businesses with high and consistent sales that are in need of quick unsecured cash to use however you need.
- Fast Capital in as little as 24hrs
- Easy approval process
- Little documentation needed
- Cost of borrowing can be more
- Businesses that have high and consistent sales and bank deposits
- Businesses that need financing right away