Professional providers of short term loans realize that as a small business, there are many scenarios that can arise with no foresight and demand payment in order for your company to continue generating revenue. Imagine that you are running a busy retail store and your only cash register just broke, or the holiday season is approaching and you need extra employees or inventory to meet demands. Now, imagine that you don’t have the cash to pay your new staff or fix your cash register, in both of these instances, an easy term loan from Fast and Easy Funds can help tremendously. An easy term loan will help you get the money you need now and the profits that cash advance allows for will contribute to paying off the loan over a short period of time.
An easy term loan will typically come in smaller amounts, ranging between $5,000 and $500,000. Easy term loans carry repayment terms of a few months to a couple of years, and have more relaxed qualification standards. They provide fast cash for demanding situations. Easy term loans are ideally suited for companies that only need the money to cover costs over a few months. In comparison to long-term business loans, the easy term loan does not require collateral, high personal or business credit scores, or an established operating history.
Fast and Easy Funds explains a few situations where a short term business loan may come in handy for your small to medium-sized business:
– Finances for expansion- If you do not want to carry the debt of a small expansion, such as hiring more employees or buying more equipment, a short-term business loan would make more sense than a long-term loan. Eliminating your company’s debt sooner will eliminate financial risks and will free up cash flow. It will also be one less bill to receive in the mail every month.
– Manage cash flow gaps- Irregular cash flow is a financial situation that many seasonal businesses or staffing agencies often face. Instead of applying for an expensive credit card or taking out a home equity loan to cover costs, an easy term business loan can help a company run through slow seasons or payment lapses.
– An emergency- When there is an unexpected event that occurs, your small business may be in need of cash to immediately cover the expenses. Things happen that your small business may not have anticipated. An easy term loan from Fast and Easy Funds will fastly provide you with working cash flow to help cover these costs and get your business up and running.
– Replenish inventory- To meet the growing customer demand, your company may need to purchase more inventory. An easy term loan would be one of your best options to cover the cost of extra inventory, as long as you are certain you will be able to sell the inventory and cover the payments for the short-term loan.