Small businesses most often need short-term loans instead of long-term debt financing. Most term loans, classified as short-term, usually have a maturity of one year or less. They must be repaid to the lender within one year. Most short-term loans are often repaid much more quickly than that, often within 90-120 days. A short term loan is a type of business capital loan that can provide your company with quick working capital. Like most other loans, you’ll receive a lump sum of cash upfront which is repaid to your short term lender over a set period of time.
Commercial loans are granted to a variety of business entities, usually to assist with short-term funding needs for operational costs or for the purchase of equipment to facilitate the operating process. In some instances, the loan may be extended to help the business meet more basic operational needs, such as funding for payroll or to purchase supplies used in the production and manufacturing process.
To obtain a short term business loan simply:
- Apply online with First Down Funding for Instant approval. Get a quick approval on your short term loan application.
- Money in bank in 24-48 hours. You can get access to the loan amount within 24-48 hours after it is approved
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