If you’re running a business, managing cash flow and ensuring you have adequate funds to cover costs, seize opportunities and cope with unexpected emergencies is a key concern. Without the necessary funds when you need them the long-term success of your business may not be guaranteed.
At some point, most businesses will require business finance. Some businesses may look for grants, or outside investment, while others may choose long-term business finance. In many cases, the quickest and most flexible means by which to access the money you need is to apply for a short-term business loan.
How do I get funding for my business?
Securing the funding your business needs is essential for its growth and stability. While there are a range of options available, the most popular form of business finance is a short-term business loan. These are designed to quickly provide you with the working capital you need for a specific purpose such as unexpected bills, expanding your business, a marketing campaign or extra staffing requirement. They are highly flexible, meaning they can be used for a variety of purposes.
If you’re looking for an accessible, flexible funding solution for your business then how do you apply for a short-term business loan?
Apply for a short-term business loan in a few small steps
Applying for a short-term business loan is a relatively straightforward process. Ensuring you have all the information you’ll need at hand before you begin the application will make it simpler.
Before you apply for a short-term business loan you need to determine how much money you actually need. This amount should be large enough to cover your needs but it’s important to resist the temptation to borrow more than is really required. The more you borrow, the higher your monthly repayments will be.
You will then need to find a lender that matches your requirements and whose lending criteria you meet. At Business Finance House, we work with 80 reputable lenders and take the hard work out of finding the right lender for your business.
Lenders will usually require a range of documentation to support your loan application. Typically, this may include bank details, tax returns and proof of your business revenue and expenses.
You will then be in a position to complete the loan application. It’s important to do this carefully, ensuring that the information you provide is complete and accurate. Once you’ve submitted your application the lender will review the information you’ve provided and will then make a decision on your loan.
If your application is approved, carefully review the terms and conditions and be certain you understand the interest rate, repayment schedule and any fees that may be applied. If you’re satisfied with the terms, you can accept the offer. Funds will usually be transferred to your nominated bank account shortly after.
Applying for a short-term business loan with Business Finance House
It’s easy to apply for a short-term business loan with Business Finance House. Our team of expert advisors take time to understand your business and current short term financial needs. Because we work with 80 reputable lenders we can help find the right short-term loan for your needs. If you’re looking for a short-term unsecured business loan, we cover all locations, from business loans in Liverpool, Cheshire, or nationwide!
Contact us for further advice and information about short-term business financing options and how to get a short term business loan.
