Short-Term Business Loans
Short-term loans are loans based on monthly business income and are scheduled to be repaid over a period of 3 to 18 months, with daily or weekly payments.
Process to Apply
Documents needed to apply:
- Application. (Applying has no cost)
- Photo identification issued by the government.
- Cancelled Check from the business account.
- Last three bank account statements of the business.
- Last three statements of credit cards processing ***
*** If the required amount exceeds $ 75,000 dollars we will need extra documentation such as:
- Last Year Taxes.
- Business profit and loss report.
- Business balance report. (More recent)
- One year of account statements of the business.
- One year of account statements of processing.
Advantages and disadvantages
- Quick access to capital.
- Receiving a cost-estimate does NOT impact your credit.
- Eliminate short-term financial needs.
- We do not ask for collateral.
- It is not necessary to have excellent credit.
- Higher rates than a conventional loan.