What Is a Short-Term Loan?

No, no, no. I say the answer, and then you ask “What is a short-term loan?” Haven’t you ever watched Jeopardy?

Well, sure. But since when are we playing Jeopardy?

Daily Double!

I’m pretty sure that isn’t how you play Jeopardy either…

Stickler. I bet you’re no fun at parties. Anyway, let us tell you about this fabulous loan! A short-term loan can offer the flexibility your company needs to manage things that pop up unexpectedly. Whether you’ve just been offered a fortuitous deal to expand inventory or encountered an unforeseen need for cash that you don’t happen to have on hand, this loan can give the answers you need: quick money with a short term.

Didn’t you already do one of these with a game show theme?

Did we? Ugh, we’re getting old and senile.

But you’ve only been around for 6 years.

Yeah, but we go by dog years.

That’s still only 42…

Oh, so now you think you have all the answers?  I bet you didn’t know this:

Benefits of a short-term loan:

  • Great option for smaller expansion projects
  • Improves your credit with fixed rates
  • Flexible options available for most business purposes

 

Downsides of a short-term loan:

  • May require collateral
  • May need to provide personal and business tax returns
  • Will need to provide business financial statements and balance sheets

 

Additionally, you can borrow between $2,500-500,000 to be paid back between 1-3 years. The payment frequency varies depending on your offer, and can be daily, weekly, or monthly, but you can receive your funds in as little as 24 hours.

You’re right, I didn’t know all that. But isn’t that your job?

I’ve had about enough of you.