Small Business: How to Find the Best Short Term Loans for You

Jun 08, 2022

Not all business loans are treated as equal.

It's important to not only work out which loans are the best short term loans for your business, but also to assess why you are looking to borrow.

This guide will nudge you in the direction of the best short term loans for you and your business.

Is it the Best Short Term Loan for You?

Start by deciding whether borrowing on a short-term basis is actually what you should be doing for your specific circumstances.

If, for example, you want to clear long term debts, going for a 1-18 month lending period might not be appropriate.

The best short term loans are the ones that will get you over that small bump in the road that you need to find a solution to before being able to progress further.

Figure out exactly what you're looking to achieve when you apply before wasting time going down a route that could potentially be the wrong direction for your business.

Solving Cash Flow Issues

Cash flow problems are one of the most common reasons for borrowing short term.

Whatever the history behind your temporary cash flow hiccups - for example, if you have a sporadic sales structure - it's better to dodge maxing out credit cards as you wait for the next surge in revenue by going for a short term loan instead.

An added perk of borrowing short term to help cash flow is that you can pay off any upcoming taxes by the deadline, so as not to alienate yourself early with the taxman.

Is Your Business Expanding?

If you're aiming to develop your business, you might be at the stage where you're looking to make your small company that little bit bigger.

Are you hiring more staff? Are you opening another office? Do you need to develop your product?

If the answer is yes to any of these questions, you're on the right track by looking at short term lending.

A State of Emergency

In matters where you might be looking for extra funds because your business insurance just isn't cutting it, a short-term loan is a potential solution.

In this case, this type of loan can come to rescue and even stop a business from caving in on itself.

But recognize what type of emergency is best resolved with a short-term loan.

Major catastrophes will need the big guns, while faulty equipment or a sudden absence of staff are the kind of things that can be rectified with short term lending.

'Tis the Season

If your business is one that expects to drive more interest over the holiday period, then short term loans are a good way of coping with the added demand.

Borrowing on a smaller scale could be a simple solution to increasing inventory, hiring extra temps or giving staff a raise for working on holidays when it gets to the busier times of the year.

Getting you going

If you're looking to add to or replace outdated trucks, commercial truck and trailer financing programs provide solutions for funding.

It could be that demand for your business or product requires one, two or a fleet more vehicles to be able to keep up.

With vehicle financing being one of the most common reasons for short term financing, Express Capital can determine the best financing solution for you.

We've got nearly two decades of equipment financing experience and can offer an array of short or long-term funding options.

Whether you're a standalone construction business or a larger trucking company, approval time can be as quick as 2 hours - with funding available the same business day.

Our dedicated representatives are here to help get you the right equipment for your business.

Improving Your Credit

Short term loans must be repaid within 1-18 months which, if you succeed in doing, will reflect positively on your credit rating.

This, in turn, means you can take out a new loan in the future at a lower interest rate.

Borrowing from direct lender Express Capital can not only improve your score, but it will also help maintain your credit rating by reporting back to the credit bureaus.

By keeping to your payment arrangement you'll see your credit score looking a lot healthier within just a few months.

Express Capital have loan specialists on hand to talk you through any questions you may have about doing this - as well as which are the best short term loans for this.

In it for the Short Haul

Short term borrowing, regardless of what you need the capital for, always comes with the same benefit - the borrowing amount and the time you're paying it back is less.

By choosing the best short term loans, your borrowing won't seem like an endless tunnel.

Limiting the source of funding means businesses can act more sensibly when spending.

Recognize whether this is appropriate for what you need the loan for; because if it's not, you don't want to dig yourself into a hole that you'll have trouble getting out of down the line.

At Express Capital, we provide the best short term loans for those needing funds for just a couple of weeks - as well as businesses wanting to accommodate for a longer project.

Find a Fast Solution for Your Unique Business Situation

Express Capital specialize in assessing and providing the best short term loans for our customers' situations.

We approve quickly and deliver the funds (between $5k - $150k) on the same day.

As direct lenders, we're here to increase revenue and profitability for your business and cut out the middleman (and any extortionate middleman fees).

Our goal is to get the best short term loans for you and your business goals.

Get started by applying now so we can help you on your journey.


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