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Short Term Business Loans Quick Solutions for Small Businesses

Facing a cash crunch? Short term loans are here to help. Learn how they work, who qualifies, and why theyu2019re perfect for small business needs.<br>

Amelia175
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Short Term Business Loans Quick Solutions for Small Businesses

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  1. Short Term Business Loans: Quick Solutions for Small Businesses

  2. What is a Short-Term Business Loan? Short-term business loans are like any other term loan, except that they have a much shorter repayment period. While Biz2Credit offers short-term loans with repayment periods of up to three years, usually the repayment period ranges from less than a year to about 18 months. Traditional term loans, on the other hand, usually have repayment periods of 7-25 years, which will rack up a tremendous amount of interest over time.

  3. How Does a Short-Term Business Loan Work? Short-term business loans function like most other business loans, albeit with a streamlined application process. A small business owner applies for a specified amount of money, the lender reviews the application, approves (or denies) it, underwrites the loan, and once all parties have agreed to the repayment terms, the lender distributes the funds.

  4. Pros & Cons of Short-Term Business Loans

  5. Pros • Fast funding: The application process tends to be easier and approval times are much faster with short-term loans than long-term ones since loan amounts are smaller and lenders recoup the money more quickly. • Many loan options available: There are several types of short-term loans and many online lenders available, giving small business owners plenty of options.

  6. Cons • Frequent payments: Some short-term loans require daily or weekly payments rather than monthly payments. That can become a challenge if your business has delays on payments, such as those with Net 30 payment terms from clients. • Typically higher interest rates than conventional loans: Although some online lenders actually offer lower interest rates than long-term loans, it’s more common to find higher interest rates.

  7. Why Choose Biz2Credit? • Trusted partner for franchise funding • Biz2Credit was founded in 2007 and has provided more than $10 billion in loans. • Dedicated support team • Tailored financing solutions

  8. Thank You

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