Who Qualifies for a Short-Term Loan?
Short-term financing is a financial lifeline for small businesses. Whether the business owner is looking to buy inventory, cover working capital expenses while awaiting payment of invoices, or expanding operations, a short-term loan is a viable option. Short-term loans can be a flexible financial tool to better manage cash flow, deal with unexpected needs for extra cash, or take advantage of an unforeseen business opportunity.
Short-term lenders emphasize cash-flow more than lenders of traditional term loans. Strong cash-flow can sometimes overcome other financial information that would disqualify a business for a traditional term loan. The interest rate you’ll pay and the amount you can borrow will depend on your annual revenue, business history, and personal credit rating.
Most Businesses Who Qualified Had:
Annual Revenue: $100K
Credit Score: 500
Time in Business: 6 Months
What Documents Will I Need To Apply?
Voided Business Check
Profit and Loss Statements
Business Tax Return
Personal Tax Return
Business Debt Schedule
Interested in applying for a short-term loan? Download the Lendtek mobile app in the Apple App store or the Google Play store to get started.