Long-Term Loans

Long-term loan is a common business funding. You get a lump some of cash upfront to invest in your business and repay with interest over a predetermined time period. Best for businesses looking to expand that have good credit and strong business revenue. Offers fast funding typically within two days to a week.

Pros:

  • Get a lomp sum amount of cash to invest in your business

  • Borrow higher amounts

  • Get funding in 2-7 days

Cons:

  • May require some type of collateral

Best for:

  • Businesses looking to grow

  • Busines owners with better credit and consistent revenue who can't wait for funding

 

Short-Term Loans

Short-term loans allow for very fast funding so you get a lump sum of cash with a predetermined payment term. Payment is usually made daily, weekly or bi-weekly. The short term loan is best for business with high and consistent sales that are in need of quick unsecured cash to use however you need.

Pros:

  • Fast Capital in as little as 24 hours

  • Unsecured

  • Easy approval process

  • Little documentation needed

Cons:

  • Cost of borrow ing can be more

Best for:

  • Businesses that have high and consistent sales and bank deposits

  • Businesses that need financing right away