Business Working Capital
Businesses require additional working capital in times of growth, to faciliate a management buyout, pay for additional wages and when normal funding avenues have been exhausted. Short term loans for business require viable exit strategies as all reputable private lenders do not want borrowers to have these loans for any longer than the minimum term required.
Many small businesses require additional private short term funding for various reasons which may include buying extra stock which will allow the business owners to benefit from unforseen opportunities which may not have occurred if the business was unable to buy the extra stock/inventory needed to make the most of that particular profit making venture or opportunity.
Online Short Term Loans for Business
Quite often small businesses are financed through the owners own capital/funds and through the cash flow of the business. When there are cash flow problems small business owners have a hard time making ends meet. Traditional bank are not set up to cater for quick turnarounds . Short term loans often gets praise from its small business clients because of the problems that quick short term business funding helps solve.
Short term loans for businsess can be used to help your business purchase capital goods and equipment or consolidate debt.Short term loans are a way to see the business through the slow times when profits are lower or cyclical. This type of funding is one method to ensure business bills are paid which will help keep the business afloat until cashflow pressure eases.
Short Term Loans as an Alternative to Banks
Short term loans are often used to hire new and additional employees, to purchase stock and other business equipment. Sometimes financial obligations can create a credit squeeze due to holding unsold stock and debtors that do not pay on time. The combination of tough economic conditions and spiraling debt is often the reason small business owners take the step to acquire a short term busines loan.
Many businesses who dont have adequate working capital may miss out on profitable opportunities and business expansion can suffer. Whether a company is financially prepared or lacks the business funding to get through the quiet periods that many businesses face due to seasonal or economic factors could be the difference between survival and future prosperity. Additional business funding opens up more opportunities and can make small or medium businesses better able to handle economic factors that may be outside of their control.
Short Term Loans for Business
Policy on Responsible lending
Our panel of short term business lenders are all committed to responsible lending. Our panel of business funders are committed to offer short term business loans focused towards the borrowing needs of customers. These lenders are also focussed on providing clear, transparent customer loan contracts and communications and to treat all customers in a courteous manner and provide high standards of service.
Implications of Non Payment and Collection Practices
Each lender has its own policy and non payment may result in additional fees being imposed. These will always be disclosed to you before you enter into any loan agreement. Initially most lenders will contact you by phone or letter to discuss payment. Some lenders may pursue their right to payment through the courts and you should seek legal advice if required. This may impact on your credit rating/ credit score and your ability to obtain credit in the future.
Disclosure of Fees
The interest rates for Short Term Business Loans start from 1.5 % per month with an APR of 18% pa. Each application for a Caveat loan is considered on an individual basis. We look at the loan purpose and the specific assets used as security, as well as an appropriate exit strategy. Short Term Loans will advise you on your borrowing options along with an indication of the applicable interest rate.
All associated fees with the loan will be disclosed to you upfront.
Disclosure of Renewal Policy
The credit agreement will under no circumstances be renewed automatically. All our short term funders have their own separate and distinct policies on renewal so please make sure you read the terms and conditions of the specific short term business funder you are matched with to fully understand their renewal policy.Any questions on renewal policy should be directed to the funder.
Short Term Loans
Head Office 255 The Broadway, Broadway NSW 2007
Tel - 1300 100 500