Short Term Business Loans for Small Business Growth
Most small businesses finance their temporary working capital needs through short term business loans. Unlike long term loans, short term loans need to be repaid within one year. But lenders charge a higher interest rate on short term business loans than long term business loans. The limited duration and preset repayment schedule further make it essential for the borrower to maintain a positive cash flow. Hence, the smarter entrepreneurs look for flexible alternative to conventional short term business loans. There are a number of lending institutions that leverage financial technology (Fin-tech) to speed up loan verification and disbursement.
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