Short Term Loans
Overview of a Short-Term Loan
The short-term loan is designed to help industry meet unexpected business expenses, working capital needs, and opportunities that come up unexpectedly.
Short-term loans can also help with opportunities that come up from time to time.
Loan Amount
$2,500 to $250,000
Payback Period
3 to 18 Months
Interest Rates
Starts at 10%
Qualifying Time
1 day but could be longer
What is a Short-Term Loan?
A short-term loan is a loan that has a short window to pay back both interest and principle typically 3 to 18 months. Short-term loans are easier to qualify for but also have a higher interest rate than a conventional loan.
Who Qualifies?
A short-term financing loan looks at different things than a conventional loan to qualify for financing. We look at how much you have in sales each month and your annual revenue. It’s all about the cash flow with this type of loan. Great cash flow equals a larger loan amount.
Keep in mind that other factors matter but will determine the interest rate more than actually qualifying for the loan. Your credit score combined with your history will determine the interest rate.
Annual Sales
50k
Credit Score
525
Business Age
1 Years
This loan will require the following documentation.
- Driver’s License of the owners of the coffee shop
- Proof of Ownership
- Business Bank Statements
- Personal Credit Score
- Individual Tax Returns