Learn all about short-term business loans.
Best Short-Term Business Loans
Best Short-Term Business Loans: FAQs
Is It Easier to Get Short-Term Business Loans?
Short-term loans are considered less risky for lenders as there are shorter repayment terms, and usually, a short-term loan amount is lower than a long-term loan. The approval and business loan application process for a short-term loan is generally quicker than for long-term business loans, and there is minimal paperwork. Typically, a short-term business loan is accepted within 24 hours.
Do You Need a Personal Guarantee for a Business Loan?
Most business loans require a personal guarantee. However, some loans don’t need one. A personal guarantee lets lenders know you and your business are trustworthy and an excellent risk to lend money to. Some lenders may ask for collateral instead. It will depend on the type of business loan you apply for.
What Is a Short-Term Business Loan?
Short-term business loans are designed to help businesses with extra funds for a short period. Typically, a short-term loan starts from one up to 12 months. The idea is to borrow and pay money back over a short period.
Get Bank Deals & More
Sign up for our email updates on the best bank deals, money savings tips and more.