Short-term loans can be useful tools for small business owners. Not only can they help to cover costs during those times when cash flow is tight, but they can help you to take advantage of new opportunities when they arise. For example, you are offered a big catering gig, but need money up front to cover the labor and supplies needed to pull off the job. Or you could land a big contract if only you had that special equipment to do the job. You get the idea.
Put simply, both money and timing are crucial to taking advantage of amazing opportunities when they come along. That leads us to one of the biggest advantages of short-term – the fast speed of funding — especially when compared to other types of loans.
- Fast Funding
One of the biggest advantages of short-term loans is that you can often get the funds you need to take advantage of business opportunities quickly. At Atlantic CLS, for example, many loans are funded within 72 hours of approval.
- Simpler Applications
Short-term loans often require less paperwork and simplified applications that are shorter and easier to complete. That’s definitely the case at Atlantic CLS. Our loan application is simple and our hassle-free loan application process has just four simple steps: 1) You request an application and we send it; 2) You complete and submit the application with six months of bank statements; 3) We make an offer if your loan is approved; 4) You sign the contract if you accept the loan, and then your loan is funded.
- Eased Eligibility Requirements
It is often easier to get a short-term loan, even when you may not qualify for other types of loans. That’s because with short-term loans, there is typically less emphasis on your credit rating and more emphasis on your specific situation and your ability to repay the loan. Also, many short-term loans are unsecured, which means they do not require collateral. Atlantic CLS short-term loans, for instance, do not require that you put up your business assets as collateral.
- No Long-Term Debt
Short-term loans typically are paid off fast. That means that you do not incur long-term debt, and may not be as tempted to incur long-term debt as you would be when using credit cards to cover cash-flow issues or to take advantage of business opportunities.
Need Short-Term Loans?
Athttps://www.atlanticcls.co/lantic CLS has helped hundreds of small business clients just like you to get the cash they need to help their businesses succeed and grow with short-term loans and mid-term loans. We’ll get to know you and your business and be there for you when you need us. Contact us today.
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