1 / 21

The Ultimate Guide to Short-Term Business Loans

An essential guide to short term business loans. Know what kind of small business loan is best to fulfil the business finance needs.

cashfastloans
Download Presentation

The Ultimate Guide to Short-Term Business Loans

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. SHORT TERMBUSINESS LOANS A COMPLETE GUIDE

  2. INFORMATION ON SHORT-TERM BUSINESS LOANS COVERING ALL THE MAJOR ASPECTS ARE MENTIONED BELOW : • WHAT IS A SHORT-TERM BUSINESS LOAN? • HOW SHORT-TERM BUSINESS LOANS DIFFER FROM LONG-TERM BUSINESS LOANS? • WHY IS SHORT-TERM BUSINESS LOAN NEEDED? • HOW CAN A SMALL BUSINESS BENEFIT FROM A SHORT-TERM BUSINESS LOAN? • WHAT ARE THE VARIOUS SOURCES OF AVAILING SHORT-TERM BUSINESS LOANS? • HOW TO GET SHORT-TERM BUSINESS LOANS WITH A HISTORY OF BAD CREDIT? • HOW TO REPAY SHORT-TERM BUSINESS LOANS CONVENIENTLY? • WHAT ARE THE MAJOR MYTHS ABOUT SHORT-TERM BUSINESS LOANS?

  3. WHAT IS A SHORT-TERM BUSINESS LOAN? • A loan that is repaid in a short period”. Evidently, what all qualifies as “short” is comparative, and this is where many borrowers can get perplexed. • A majority of short-term business loans need to be repaid sooner between 90 days and 120 days. • Business might require a short-term business loan to buy stock in advance ahead of the approaching holidays.

  4. HOW SHORT-TERM BUSINESS LOANS DIFFER FROM LONG-TERM BUSINESS LOANS? 1. LONG-TERM BUSINESS LOANS • Long-term business loans are a type of funding alternative rendered by conventional lenders that are aimed at meeting more long-term financing requirements like acquiring another business or expanding your business over the period of many years. • This kind of funding requires repayments term that extend for many years, sometimes continuing for 10 or even 20 years. These loan types often include added requisites such as collateral. Continue...

  5. 2. SHORT-TERM BUSINESS LOANS • Small Business Needs To Take Advantage Of An Immediate New Business Opportunity Or Is Coping With A Sudden Demand. • Short-term Business Loan Can Provide Quick, Handy And Flexible Funding Solution. • These short-term business loans are provided by alternative lenders and they usually have less limiting loan requisites compared to conventional banks. Read through : A Brief Comparison Between Short-Term And Long-Term Business Loan.

  6. WHY IS SHORT-TERM BUSINESS LOAN NEEDED? • There are many financing options available to small business owners these days than ever before. Depending on the requirements of the small business, some loan alternatives may be more beneficial to others. Some valid reasons as to why a short-term business loan is required are enumerated as follows: 1. SATISFY PROJECT’S SET UP COSTS • New project needs more capital than what is accessible from cash flow. A short-term business loan could be ideal for meeting expenses, which can be recovered between 60 and 90 days. Continue...

  7. 2. EMERGENCY REPAIRS • To pay for the repairs on equipment that is vital to business operations is a valid reason for a short-term small business loan to aid operations to run smoothly without a 3-year or longer loan commitment. 3. BUYING INVENTORY AT DISCOUNTED RATES • To pay for the repairs on equipment that is vital to business operations is a valid reason for a short-term small business loan to aid operations to run smoothly without a 3-year or longer loan commitment. Continue...

  8. 4. RISING ABOVE A SEASONAL CASH-FLOW GAP • Business Keeps Adequate Cash Flow To Be Able To Make The Periodic Payments. • Short-term Financing Will Have A Lower Total Cost, But Will Probably Have An Elevated Periodic Payment Than A Longer-term Loan. It Is Imperative To Know How A Small Business Can Avert A Cash Flow Crisis. • You Can Avail Short-term Business Loan From Pawnbroker/ Pawn Shop When You Urgently Need Some Quick Money For Your Working Capital, And You’ll Get The Cash In Your Hand On The Same Day In A Matter Of Minutes With No Credit Checks.

  9. HOW CAN A SMALL BUSINESS BENEFIT FROM A SHORT-TERM BUSINESS LOAN? • There are various situations where a small business may need some fast working capital, but short-term financing can be hard to get from banks or conventional lending organisations. Let’s Have A Look At How A Small Business Can Benefit From Availing A Short-term Business Loan: 1. PROVISION DURING EMERGENCIES • Things Can Take Place In Business That Might Produce An Emergency Putting The Life Of Your Business At Stake; For Instance, Damage Due To A Natural Adversity, An Equipment Breakdown. • Short-term financing can assist ease the recovery process, upholding the foundations of your business and helping to move ahead. Continue...

  10. 2. CRUISING THROUGH THE SLOW-PHASE • Most of the business may experience a busier period during one particular time of the year and a slow-phase during a certain period. • The influence of a slow-phase or off-season may be bigger for businesses that survive solely on a seasonal business; for instance, many retailers are there who do maximum business during year-end or around Christmas. 3. SUPPORT BUSINESS EXPANSION • Short-term Financing Can Render Much-needed Financial Support And Backing, Easing The Process And Lowering Any Pressure Involved.

  11. WHAT ARE THE VARIOUS SOURCES OF AVAILING SHORT-TERM BUSINESS LOANS? • Small Business Owners Can Obtain Finance For Their Business Through Many Different Sources. 1. PERSONAL CREDIT CARDS • Credit Cards Are Inclined To Have Reduced Interest Rates And Fees Compared To Merchant Lending Services. Continue...

  12. 2. PERSONAL SOURCES • Personal Savings Can Be An Excellent Option For Small Business Owners Requiring Access To Cash In A Very Special Situation. Continue...

  13. 3. BANK LOANS • Small Business Can Qualify For A Short-term Bank Loan, Then They Should Go For It. As Banks Have Access To The Current And Saving Deposits, They Have The Cheapest Money To Loan. • Small Business Can Qualify For A Short-term Bank Loan, Then They Should Go For It. As Banks Have Access To The Current And Saving Deposits, They Have The Cheapest Money To Loan. Continue...

  14. 4. PAWN LOAN FROM THE PAWNBROKER/ PAWN SHOP • The pawnbroker can provide small business owners with an instant short-term business loan against any asset of value such as gold jewellery, machinery, equipment or vehicle collateral. • Acquiring A Short-term Loan From A Pawn Shop Is Easy, Hassle-free And Requires No Background Or Credit Checks. • You Get The Window Of Up To 90 Days To Repay The Loan And Interest; However, You Can Also Extend The Loan Tenure By Paying Off Any Outstanding Interest And Advance Interest For The Extended Month. Know How Small Businesses Can Get Fast Cash Loan From A Car Pawnbroker.

  15. HOW TO GET SHORT-TERM BUSINESS LOANS WITH A HISTORY OF BAD CREDIT? • Bad credit occurs when an individual fails to honour his or her past credit agreements and so he or she is unable to get approval for new credit. Here are the top 5 reasons behind the small business loan rejections. Continue...

  16. Business Owners Having An Inferior Credit Score Are Considered High Risk Of Defaulting On A Loan. • Alternative Lenders Such As Pawnbrokers Provide Short-term Business Loans In Sydney Without Any Credit Checks To Borrowers. COMMON REASONS FOR HAVING A BAD CREDIT HISTORY ARE ENUMERATED AS FOLLOWS: • OUTSTANDING DEBTS • A company, sole trader or an individual wasn’t in a position to repay the money to the third party or organisation from whom the money was borrowed as a loan under a contract agreement. • LOAN DEFAULTED • The loan amount wasn’t paid by the sole trader, private individual or a company, either full or a certain part of the loan amount. • BANKRUPTCY • When the company or a person is unable to repay the debts that they owed to their creditors, then they get a legal status of Bankruptcy. Continue...

  17. BAD CREDIT OR DECLARED INSOLVENT – CASH FAST LOANS CAN ASSIST WITH SECURED BAD CREDIT FINANCING IN SYDNEY • People Who Have A Bad Credit Report, Emergency Bad Credit Loans Without Credit Check Would Be Extremely Useful. • Pawnbrokers Offer Easy Short-term Loans With No Credit Check Instantly. With Pawn Shop’s Secured Bad Credit Loans • Pawnbrokers Will Just Require Proof Of Asset Ownership And Your Identity To Process Your Bad Credit Loan Application And Provide You With An Instant Short-term Business Loan.

  18. HOW TO REPAY SHORT-TERM BUSINESS LOANS CONVENIENTLY? • In Order To Repay Your Short-term Business Loan With Ease, It Is Imperative For You To Budget And Manage Your Funds Properly. • How To Repay Your Short-term Business Loan Conveniently Underneath To Assist You To Budget And Manage Your Money Judiciously. Continue...

  19. “Having a sound financial planning in place and maintaining a budget for it are the two sides of the same coin. That means both are equally important and required.” • You Should Know What Is Your Monthly Income And Monthly Expenditure. • Make Use Of A Simple Spreadsheet Or A Budget-tracking Program Or An Application In Your Smartphone. • It Is Important To Balance Your Chequebook Every Week. • Evaluate Your Receipts On A Week-to-week Basis. • Keep An Eye On Your Tax Withholding And Keep On Making Required Adjustments In An Appropriate Time . • Find Out Essential Expenditure And Overestimate Them By Around Fifteen Percent So That You Can Get A Margin If At All An Error Occurs. • Know Your Lender’s Late Payment Policy. In Case, You Miss On A Payment, You Can At Least Make The Payment During The Grace Period As Per Your Lender’s Late Payment Policy. • You Are Trying To Pay Off A Short-term Business Loan, Ensure That The Goal And Its Payment Amount Are Considered In Your Monthly Planning And Budgeting.

  20. WHAT ARE THE MAJOR MYTHS ABOUT SHORT-TERM BUSINESS LOANS? • MYTH #1: IT IS HARD TO GET SHORT-TERM BUSINESS LOANS • Small Business, You’ll Find That Alternative Lenders Like Pawnbrokers Take A Much Less Exhaustive Approach. • MYTH #2: EXCELLENT CREDIT HISTORY IS ESSENTIAL • Pawn Shops offers an exceptional alternative for availing short-term business loans with no credit check. • MYTH #3: AS THE BANK WON’T PROCESS A SHORT-TERM BUSINESS LOAN, NOBODY ELSE WILL • Banks are driven by profits, so before considering a loan application, they will first evaluate what profit can be made out of the deal – naturally, on a shorter loan term, less profit can be made. Read more myths about the short-term business loan.

  21. CONTACT US: NAME :- CASH FAST LOANS 10 North Rocks Rd, North Parramatta, NSW, 2151 ADDRESS : PHONE : 1300 227 432 www.cashfast.com.au WEB : SOCIAL CONNECT :

More Related