Short Term Loans
- Fuel Business Growth with Flexible Working Capital: Access Funds Based on Revenue.
- Simplify Business Expansion: Short-Term Loans - The Easiest Qualification Process
- Efficiently Manage Short-Term Expenses: Rent, Payroll, and Inventory Financing Solutions
Take advantage of an 85% approval rate - act now!
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What are Short Term Loans?
Short-term business loans or cash advances are lump sum loans that are designed to be paid back over a set time frame at a set cost in less than 18 months. Short term capital financing can be structured as a purchase and sale of future receivables with a factor rate or as a business loan with an interest rate.Â
Short term loans can be a flexible financial vehicle and can be used for financing short-term working capital needs—including but not limited to payroll, managing cash flow, dealing with unexpected needs for extra cash, bridging larger financing options, paying off debt, business working capital, business expansion or capitalizing on unforeseen business opportunities.Â
Short Term Loan Details
1 -18 Months
As Fast As Same Day
$5K-$25M
7% - 25%
Short Term Loans Online : Pros vs Cons
PROS
Fast Application Process – Access Funds Quickly
Flexible Repayment Terms – Weekly & Monthly
Build or Improve Your Creditworthiness
CONS
Higher Interest Rates Compared to Long Term Loans
More Frequent Payment ScheduleÂ
Risk of Debt Cycle if you Fall Behind on Payments
How do Short Term Loans work?
A short term loan is like the Swiss Army Knife of loans – it’s handy, flexible, and able to get you out of a bind. You can use it to cover unexpected costs, survive a slump, finance a short term project, or even capitalize on a new business opportunity. It’s definitely the loan you want in your back pocket.
It’s pretty simple, you borrow a lump sum of money over a short term, typically under 2 years. With a fixed interest rate, you pay back the loan in daily, weekly, bi-weekly or even monthly payment installments. Once the loan is paid 50% in, most short term funders will allow you to borrow additional funds. Â
Who Qualifies for a Short Term Loan ?
Here’s the low-down on qualifying:
Short-term business funders emphasize cash-flow in the business bank account more than funders of traditional term loans. Strong cash-flow can sometimes overcome other applicant information that would disqualify a business for a traditional term loan such as credit.
Understand that the interest rate or factor rate you’ll pay and the amount of capital you qualify for will be based on your average monthly business revenue, time in business, industry, business payment history, and personal/business credit rating. For questions, regarding if you qualify for a short term loan please contact us, and we will give you a dedicated short-term business loan expert to answer all your questions.
Small Short Term Loan Requirements
over 500+
positive payment history
over $150K
6+ months
* Note: These short term loans for small business are based on previous Upwise customers and is just an average.
Stop waiting for payments. Reach out to us now and unlock your business's full potential.
What do Small Business Short Term Loans cost?
Short-term business loans are paid off quickly, most often with daily or weekly payments.
Where you source the capital, will determine your cost. Make the Wise decision with Upwise. Â
Short-term loans also often come with factor rates instead of interest rates: a factor rate is a number that, when multiplied by your total loan amount, gives you how much you’ll be paying back.
A factor rate is a set cost of capital of the given term approved by the short term loan funder such as Upwise.
See the below example of a sample Upwise short term advance. Â
Short-Term Business Loans & Factor Rates
Some funders will structure the contract as a purchase and sale of your future receivables.. Â
Say you’ve taken out a $100K short-term business loan and the Upwise offer has a 1. 18 factor rate.
1.18 multiplied by $100K will determine the total amount you’ll need to pay back to maturity = $118K.
For this specific customer, underwriting approved this file for a 12 month term, which is a common approved term amongst small business owners searching for short term business loans.
Given that there are 21 payment days or business days in a month, since payments are taken Monday through Friday, never on weekends or holidays. That equals 252 payments per year on a daily payment program.Â
To calculate your payment, divide the number of payments (252) by the total payback to maturity $118k.
The amount of each of those business day payments would be $486.25. Â
Payments are broken down into micro daily or weekly payments. You’re paying a higher rate than a longer term loan for the quick and easy approval and funding process.
Short Term Loans Apply Now
- Pursue new opportunities, upgrade operations, support inventory or boost marketing efforts.
- Bridge the gap in your company's cash flow or between longer term financing goals.
- Apply today to unlock short term funds that supports your goals without restrictions.
Stop waiting for payments - take advantage today!
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Document You'll Need to Apply
Driver’s License
Voided Business Check
Business Bank Statements (Last 4 Months)
Account Receivables Report for net 90 days
You may also be requested to provide the following for larger dollar amounts over $100K:
Balance Sheet
Profit & Loss Statements
Business Tax Returns
Personal Tax Returns
In the unpredictable world of small business ownership, surprises are bound to arise no matter how well you plan. The ability to think swiftly and find prompt solutions often sets successful businesses apart from the competition. That’s where short-term loans come in. When time is of the essence, you can secure the financing you need in as little as 24 hours with a short-term loan from Upwise Capital.
We understand that every moment counts when it comes to seizing opportunities and keeping your business thriving. That’s why our short-term loans are designed to provide quick access to the funds you require. Whether you need to bridge a cash flow gap, seize a time-sensitive opportunity, or navigate unexpected expenses, our streamlined application and approval process ensures that you can obtain the financing you need promptly.
Why Upwise for Instant Short Term Loans
Quick & easy application
Our simple 15-minute application gets you on your way to funding quickly. Most applicants receive a fast decision within hours of applying. Then just choose your loan terms and you could have funds deposited into your account as soon as 24 hours.
Ensure you make the wise choice
Every Upwise applicant gets a dedicated funding advisor who takes the time to understand your business and it's unique needs. We are here for your support throughout the entire funding process.
Access multiple financing options
Upwise has an extensive product suite and a network of 100+ lenders. This means you're more likely to find the best match for your funding needs.
