Short term business loans are for, you guessed it, businesses! They’re a good way to obtain finance for your business needs regardless of your credit history. Flexible and fast to process, they solve your more immediate money needs when you need it and not a moment later. Even if you’ve been rejected by banks in the past, you can still be eligible for a short term business loan. A loan specialist will be able to come up with a private loan that is tailor-made to the needs of your business. This is of course regardless of whether you have past defaults, inconsistent cash inflow and your business history. Even if you’re missing some documents, you won’t be automatically knocked back.

What can a short term business loan help with? 

A short term business loan is the way to fund any project your company may be looking to undertake. If you’re in need of cash for development, construction, refinancing, debtor finance, franchising or self-employment – a short term business loan may be what you’re after. Banks often underestimate the financial needs businesses come across in their operations. They also overlook that these demands can’t wait. They’re a good solution to those situations where you’ve been faced with an opportunity to grow your business and have had to hold off because it wasn’t a great time.

Perhaps you need to expand your business in some way, or settle accounts before the end of the financial year. Sometimes, banks are less likely to give out loans at the end of the financial year, as it can be risky for them. If your need is urgent and after you’ve received financing, your business will be in better shape and able to pay, short term business loans can help you. The typical life of a short term loan is two to three months, a significantly shorter repayment period than with traditional lending. The wait for short term loans is significantly less than traditional bank loans, too. You will be able to arrange a loan within 24-72 hours of application.

How do I know if a short term business loan is right for me?

If you’ve read this far, the likelihood is that your business would benefit from extra financing. Looking into your options with short term business loans is always obligation free. First, you’ll fill out a small form and from there the provider will contact you with how they’re able to help. That’s when you’ll know whether it’s the right move. After you give them any additional information they need to process your application, it’s pretty much done and dusted.

If you’re ready to discover more about how short term loans can be good for business, try filling out the ALC Commercial online enquiry form, or call us on 1300 886 996. No hassle, free consultation with no obligation.