This page describes the short term business loans criteria for a short-term business loan program available for established businesses located only in the United States. This lending program is similar to a Merchant Cash Advance, which bases the loan and repayment on the business’s monthly credit volume. This short-term loan program considers the total sales volume as part of the underwriting criteria. Also the total interest paid (called a factor rate) is less than the normal cost of a merchant cash advance.
This short term funding program is designed for and works best for “cash & carry” type retail businesses. Auto repair shops, florists, hair salons, and restaurants are examples of just a few businesses whose customers pay upon receipt of products or services. These kinds of businesses make daily or almost daily deposits. Deposit frequency and deposit amounts are other important parts of the underwriting criteria.
Your business must be at least 1 to 2 yrs or more old. The inception date of your business is extremely important and must be accurately reported.
Note: Some industries are not eligible for this short term loan program. Check here to see if your business is listed among the prohibited industries for which this program is not available.
Even if your industry appears on the prohibited list, contact Business Money Source and tell us about your business and the funding that you require. Business Money Source is also affiliated with other funding sources whose funding programs for almost any business situation. To learn more about your working capital loan options, click here.
Apply for Short Term Loan by filling out the one page here.
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Apply for Short Term Loan by filling out one page form here.
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