Short-Term Business Loans

How a Short-Term Loan Works

Short-term loans provide quick access to cash to help businesses address urgent needs or capitalize on opportunities. Common uses include covering payroll during slow periods, financing equipment purchases or repairs, and boosting working capital.

Once approved, the loan is deposited into the business's checking account, and the company repays the loan amount plus interest over a predetermined period. This flexible financing option can help businesses stay afloat, grow, and thrive.

Qualifications

  • Must be a United States-based business

  • Annual Revenue: Minimum of $100,000 (or $200,000) to show sufficient income to support loan repayment.

  • Business Age: At least 6 months (or 1 year) in operation to demonstrate stability and a proven track record.

  • Minimum Credit Score: 600 (or equivalent) to ensure the borrower has a decent credit history and ability to repay the loan.

  • Collateral: Ability to provide collateral (e.g., assets, equipment, or a personal guarantee) to secure the loan, if required.