Short term financing is likely to be needed by all businesses at one time or another. Short term financing is usually classified as financing with a term of 180 days (6 months) or less. It is fairly common for the term to be as much as 12 months for many types of short-term loans.
Seasonal, cyclical and project-type businesses, such as commercial construction and real estate investing will often need short term funds to operate in an off-season or between project stages. If your business fits in one of these categories, you may benefit from a short-term loan.
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Your business may be a seasonal business such as a small amusement park or Christmas and Holiday Decorations. These kinds of business have well defined peak revenue periods. The bills still have to be paid and your establishment maintained during the times when the revenue streams are low.
You can use your future credit card invoices as the basis for receiving a business cash advance. If your business generates large volume in invoices, those invoices can be either sold outright at a discount. This is call factoring or they can be used as collateral for a short term loan. This is account receivable financing.
Real estate investors have several funding options to receive short time financing.
You can use any of the following individually or in various combinations:
All 4 of these types of financing: bridge loans construction loans hard money loans Working Capital are addressed elsewhere on this website.
The best thing that you can do to keep your business financially sound is to plan ahead. If you know that you are going to need “X” amount of dollars in October to purchase inventory for the Holiday season, don’t wait until September to begin your search for working capital. It is very unnerving to have a deadline looming a few weeks away and you have no idea whether you will have the money or not! Spare yourself that kind of pressure and use valuable funding sources like Business Money Source to line up your financing ahead of time!
Fill out the short 1 page form to begin the process to get short-term financing.
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