What Is Short Term Funding for Small Business and How Does It Work?

At some time or another, your business will need a quick but effective cash injection in the short term. This is an ideal way to keep you competitive and to make sure you have the flexibility required to get the best results in your field.

This is where short term funding provides such a huge benefit to small businesses across the United States, and it’s where funding providers such as First Down are leading the way in pioneering alternative methods to support our economy.

But this leaves some questions still unanswered. What is short term business funding? What are the alternatives to the major banks and other financial institutions? And how does the process work in practice?

At First Down Funding, the process works like this:

  1. Apply for the funding product: Our funding approval process is a rapid one, and you can have your application completed and submitted in less than two minutes.
  2. Wait for funding approval: We will then work to assess your situation and provide an answer. Our approval processes are quick, often taking less than 24 hours. We will use future transaction projections to assess your application, eliminating the need for collateral, down payments, or proof of credit history.
  3. Receive your funding: To promote flexibility and agility, we make sure to deposit funds directly into your bank account, without delay.
  4. Work with us to secure the future of your business: We have a range of different funding products available and we can work with you to ensure you have the support you need going forward.

Using Short Term Funding to Run Your Business

There are a number of ways you can maximize the benefit you receive from short term funding in the United States. Take a look at just a few of these:

  1. Purchase inventory at discounted rates.
  2. Clear debts you may have incurred in the past.
  3. Handle short term repairs or other emergency costs.
  4. Increase advertising and marketing spending
  5. Make low level investments in infrastructure
  6. Improve cash solubility and achieve better levels of working capital

There are many other reasons you may opt to pursue a short-term funding product, and your own circumstances may differ from those listed above. However, as a general rule, short term funding will be suitable only for low level payments and expenses. Large scale hiring of new staff or expansion of business premises may not be suitable.

To discuss your options and to find out more, get in touch with our team today, or hit the button below to get started.