Do Short Term Business Loans Exist?

Short Term Business Loans—The Truth

If you own a small business and need access to capital in a hurry, chances are short term business loans are a great solution for your needs. Short term business loans raise funds fast. Whether you need funds for operational expenses, to expand, to buy new equipment or for an advertising campaign, short term business loans provide the opportunity to do all that in a hurry.

Where banks take weeks to review a loan application and require a large degree of paperwork, short term lenders take as little as 24 hours to review applications and a further 72 hours to send the funds directly to your account. No bank can offer that sort of turn around. This may seem like something that is too be good to be true, but this isn’t the case.

Beyond the quicker and easier application process, there’re many advantages of using short term business loans. Let’s have a look at a few below.

Speed

Short term business loans provide approved funds in as little as 72 hours. That’s much quicker than a traditional lender can provide access to funds. In most cases, online applications are available. The paperwork required is usually much less, meaning less of your precious time gets spent in the application process.

Access to funds in a timely manner means you’re free to take advantage of the great sale on cut-price equipment. You also can pay bills on time and avoid penalties. It’s for these reasons more and more business owners are considering nontraditional lenders for their finance needs.

Even though short term loans carry a higher interest rate than traditional lenders, you repay them quickly. This helps get your business out of debt and back on track in record time. This can prove cost effective in the long run and save your business thousands of dollars in interest repayments.

Versatility

Unlike banks, nontraditional lenders offer business owners flexible repayment terms. Some funds are repaid daily directly from your sales. You can discuss with your lender the best payment terms to suit your needs.

Traditional lenders might require knowing exactly where the funds get used, and may impose restrictions on the allocation of funds. There is no such issue in this case. Nontraditional lenders allow you to use funds at your discretion. As long as you repay in a timely fashion, you’re free to exercise full control of the funds lent.

Traditional lenders are quite conservative. This means they don’t like taking risks and often ask for collateral when lending funds. Nontraditional lenders realize small business owners don’t always have collateral. Providing you can meet the lending criteria you can still borrow funds without collateral.

Getting On The Path To Funding

If you’re looking for a quality short term business loan lender, eBusiness Funding is a great place to start. We work hard to support businesses that may struggle with traditional lenders. In fact, 95% of businesses that meet our simple requirements qualify for funding. All you need is to be in business for at least six months, with over $10,000 in monthly revenue. With us, it’s not about past credit history or collateral, but about your business’s potential.

It’s important to us that you use the funds we offer in the most helpful way possible, so we place no restrictions on how you spend our advances. Payroll, expansion, repairs, spend on what you need! We also get you your funds fast, sometimes as soon as 72 hours after you first apply. Repayment is also very simple. Rather than large monthly payments, we take an established percentage of your future sales. This is set up by our skilled consultants. This percentage stays the same, so if business slows down, you pay less.

Interested? If you’re ready to begin, just fill out this simple contact form. We’ll be waiting, and are looking forward to helping your business get the funding support it needs.

How Can I Get Started Funding a Business?

Funding a business is always a challenge. Whether you are new to the game or have been around for decades, the game is changing. You have many more options than you had even a few years ago. The question is where do you begin?

Well, let’s start at the beginning. Before you begin your journey of funding a business, you have to ask yourself what you are looking to fund. Think about it this way:

• Are you funding an expansion?
• Are you looking to buy new equipment?
• Are you trying to cover your payroll as you wait for your invoices to be paid?

Whatever your reason, there is an option for funding a business for you.

If you are looking for expansion funding consider these options:

• Bank Loans
  • This is a great option if you are an established business with a great credit score.
• Small Business Grants
  • If you are a specific niche business that meets the requirements of a specific grant, by all means, apply for it! This is free money that can really put you on the path to success.
• Merchant Cash Advance
  • If you need funding fast, considering a merchant cash advance. This type of alternative funding provider is looking to help you grow your business quickly. Even if your credit score is not perfect or you have only been in business for a short period of time, this is an option to consider.

If you are looking to purchase new equipment, consider these options:

• Commercial or Small Business Credit Cards
  • This is a good option if you know you will have the money to pay it off in the next month. Failure to pay off the full balance of the transaction by the time your bill is due can hurt your business’s credit score.
• Bank Loans
  • If you are making a larger purchase than your credit limit, such as a commercial vehicle or large piece of machinery, a bank loan can be an option for you. With one of the lowest interest rates available when it comes to funding a business, if you can qualify, consider it. This one of the best options for the long-term.
• Merchant Cash Advance
  • Sometimes when you are looking to purchase new equipment, you need the funding fast! That is where a Merchant Cash Advance can come in quite handy. This funding provider can get you the funds you need in as little three days! So if there is a new truck you are looking to buy for your business, you won’t have to worry about it being sold off the lot before you have the funds.

If you are trying to cover your payroll, think about this funding option:

• Merchant Cash Advance
  • When it comes to paying for you employee’s salaries, you never want to be late. That is why when you are a business that relies on your clients to pay back their invoices; a merchant cash advance can help. This type of funding provider understands when you rely on other clients to pay you back you don’t always have the cash you need when you need it. But with a merchant cash advance, you can pay the provider back when your clients pay you back through a fixed percentage of your daily credit card sales.

When you are considering funding a business, one thing all of these funding needs have in common is a merchant cash advance. A merchant cash advance provider takes the guess work out of if you will be approved or not. With simple requirements and a fast turnaround time, thousands of businesses choose this option for their funding needs!

Ready To Get Started?

Contact eBusiness Funding now at 305-985-6593 or complete the contact form on this page now.

I Need A Merchant Cash Loan, Where Can I Get One?

People often ask us, “why would I use a merchant cash loan”? Our clients know they need funding to either grow their business, maintain their daily operations, or pay off debt. This is not uncommon for small businesses to need funding to grow or operate their business. Selecting the right source of funding for your business model is important to be able to sustain or grow your model. Selecting the wrong funding source can be harmful to your business overall. We can help you determine the right merchant cash loan for you.

There Are Several Reasons To Use A Merchant Cash Loan.

Timing

We can get you cash fast! Our application process is simple. We have made it easy for you to apply online and get the funding you need. We will then review your application and respond within 24 hours. From the time you apply, are approved, to money in your bank account is generally just three days. You can start using the cash immediately after.

Compare this to a bank loan which can takes weeks or months.

Simple Qualification

We only have a few requirements that you must meet to be considered for qualification.

• You have been operating as a business for at least six months
• Generate over $10,000 in monthly revenue

High Acceptance Rate

Our application process has over a 90% acceptance rate for those who meet our minimum requirements. A traditional bank loan application process has approximately a 20% acceptance rate.

Use The Funds The Way You Want

A traditional lender will often require a business plan to understand how you plan to utilize the funding provided. There are rules for things that they can lend for and things that they can’t. For example, a bank will typically not finance payroll funding but a merchant cash loan can be used for payroll financing. At eBusiness, we will not ask for a business plan that details where your business wants to be in five years. A bank will ask for such a plan. We believe that you know your business model and as an owner you want to see your business thrive. As a merchant cash advance business we want to see you succeed.

The Risks With A Merchant Cash Loan

We don’t want to say that a merchant cash loan is for everyone. Just like any lending method there are pros and cons and risks associated. Some of the risks include:

Less Cash Flow

We take a percentage of your daily credit card sales until the amount of the advance including fees has been paid off. As a business owner, you must be prepared to run your business on less incoming cash until the advance is paid off. Compare this to a general bank loan that you are paying on a monthly basis and have all month to plan for.

An Endless Cycle

You have to be careful that your business model is right for a merchant cash loan. If you are in the business with slower sales that will not be able to payback the advance quickly, the window is much shorter than a bank loan to pay it back. Customers can take out multiple cash advances, but they must be mindful of paying them back and not fall into a trap of further debt.

Getting Started

So if you think that a merchant cash loan could be right for you, give us a call today! We want to talk to you about our Merchant Cash Advance product.

Business Expansion Loans – Get Approved In 24hrs

Having to take out a loan to finance a business can be a scary concept. Everything from applying and being denied, to defaulting, or the amount of the loan can be threatening to a business owner. But as an owner considers their options for business expansion loans, it is supposed to be an exciting time. The ability to grow the business you have created is an amazing opportunity and you should enjoy every moment.

But sometimes expanding your business needs to be done quickly because opportunities are fleeting. So you don’t have the time to sit around and wait to cut through the red tape of traditional business expansion loans. Handing out financing quickly is not in the nature of a bank and this can cause you as the owner a lot of headaches. But alternative funding methods are out there to be able to provide unsecured funding that can get you the cash you need quickly.

Despite the higher interest rates and fees, you will often pay for an alternative lender, the potential to grow your business can be well worth it. As the business owner, you will have to do a cost-benefit analysis on the opportunity in front of you. How fast will it pay off? Are you going to be able to pay back the advance quicker with this expansion? Growing your company’s revenue can help advance your business beyond where it is today, but it has to be the right decision for you as the owner.

Small businesses are the backbone of the U.S. economy and alternative funding providers understand this. They want to see your business succeed and grow through the different business expansion loans they have to offer. Financing a small business’ growth is essential for the survival and growth of the U.S. economy, which is why we are here to help!

A merchant cash advance is an option that looks at what your business’ potential to grow is rather than focusing on your past. As a provider, we don’t feel that your past should dictate if you are approved or denied. Starting a business is never easy, you are bound to make a mistake or two. We want to focus on helping you expand your business. As you are looking for business expansion loans, a merchant cash advance could be the right option for you.

Unlike a bank loan, the requirements are simple. We look for businesses that have been operating for at least six months. The only other requirement is the business generates $10,000 a month in sales revenue.

The application process is just as simple as our qualifications.

1. Apply using our simple online form.
2. We will review your application and get back to you in just 24 hours.
3. We let you know how much you are approved for which can be anywhere between $5,000 and $500,000.
4. After you accept the amount, we will deposit the funds into your account in just three days!
5. After you have the advance, you can start using it however your business sees fit.

The way you pay off a merchant cash advance is with a percentage of your daily credit card sales. Our automated process allows us to receive the funds without you even thinking about. This way you don’t have to worry about forgetting to make a payment and facing a late penalty.

Ready For Funding? Start Here

So, are you ready to start expanding your business in the next 24 hours? All you have to do is fill out our simple digital form and you will hear from us less than 24 hours later. The best part, you will have the cash you need to expand your business just three days after applying!

Use the Contact form on this page or call eBusiness Funding at 305-985-6593.

What are Business Acquisition Loans?

Business acquisition loans are not something that everyone has to deal with. Only a few entrepreneurs out there that are looking to grow their business will have to utilize business acquisition loans. Some people will have to utilize them more than once if they are trying to grow an empire.

Business acquisition loans can also be used to buy out a partner in a company. It is a structured form of financing that will help you create attractive terms for all parties.

There are many different options out there for financing your next business acquisition. Some you may have considered. Others that you may just be learning about. Taking the next step when acquiring a business is a huge decision and it can impact you for the rest of your life. That is why determining the right type of acquisition loan for you is important. So what type of business acquisition loans are out there?

Bank Financing

Traditional bank loans will typically ask you to but 20% down at the beginning. You will then pay a fixed monthly payment every month until the loan has been paid off. Depending on what type of funding you are applying for, the terms can be different. For example, if you are applying for an SBA loan there is less flexibility in the way you can structure the deal.

Bank financing can be extremely hard to secure especially if you have no business credit or poor personal credit.

Seller Financing

In this funding scenario, the seller develops its own offerings for business acquisition loans. The seller acts as the bank would and collects the payments directly from the buyer. The buyer will pay their down payment directly to the seller and continue to make payments directly to the seller. The benefit to both parties is there is no set amount that has to be paid for the down payment and the terms are negotiable. Both parties simply have to agree on the terms to get the deal done.

This is also a more personal option because the new business owner is working directly with the seller who has usually invested their own time and money into the business. The seller has a desire to see the business succeed. The buyer and the seller can determine the best form of payment. This can be through a portion of sales or a fixed amount each month. This is also the fastest way to closing on a true loan product.

Alternative Financing

Because of the times we live in and the increased regulatory environment we are exposed to on a daily basis, getting approved for traditional funding is difficult. Because of this, alternative providers have been popping up all over the world. Most alternative providers offer their customers a digital experience and a user-friendly application process. These products are often not regulated like the banks so the process can feel much smoother to customers.

One alternative lending product you may want to consider is a merchant cash advance. This is a quick way to get the funding you need in hand quickly. You can even use this option with seller financing to pay the seller a down payment for the business. Typically we see that while acquisitions are being completed, the business owner needs helping with cash flow as they get the new business operational.

So are you ready to be your own boss? Why choose traditional business acquisition loans which can take weeks if not months to get the funding in your account? We can get you the cash in your hands to get the deal done in just three days. All you have to do is apply.

Get Started Now

Call eBusiness Funding at 305-985-6593 or complete the contact form on this page.

Minority Business Loans and How to Get One

People often ask, what are minority business loans? Anyone you ask will probably give you a different definition.  Every bank offers different lending products.   Before applying, you have to do your research.  This will help you to determine what product is right for you.  The right product is out there for you.  And these products can help you take your business to the next level.

The challenge with today’s lending market is the increased regulatory environment.  Bank’s have been forced to tighten their standards.  Banks are consolidating their loan products and putting a focus on specific loan products that are lower risk.  This is one of the reasons why not all banks offer minority business loans.  There are a number of different loan resources in the market today that are offered to minority businesses.  These come from all levels of the government.  These loans are offered to businesses at all stages of the business lifecycle.

The Small Business Association also offers different low-interest loans to qualifying business owners.  These loans often go to woman or members of minority communities.  The SBA strives to see small businesses in all different communities succeed.

Often minority business loans come with additional strings attached.  They can require those who utilize this type of funding to partake in different learning opportunities.  To take minority lending to the next level, some banks offer diversity lending programs.  These programs are designed with minority-owned businesses in mind.  This funding is meant to help grow their businesses.

What benefits do business development programs offer?

• One-to-one counseling is offered in a variety of ways.  Often times business owners who have been through the process before will speak to the newer owner and serve as a mentor to them.
• Training and development workshops are offered to help business owners learn the important skills of running a business.
• Management and leadership training guides business owners to stronger relationships with their employees.  Remember you are your own boss now, your employees are looking to you for guidance.

Not only are there minority business loans offered by banks but there are also grants available.  These grants are often offered by nonprofits.

What grants are available to minority business owners?

There are several grant options on the market.  These grants are for minority-owned businesses with longer histories, start-up businesses, and first-time business owners.

• USDA Grant
  • The U.S. Department of Agriculture funds up to $150,000 to businesses.
  • A requirement for this grant is the business must be in a rural community.
  • This is known as the Rural Business Opportunity Grant.
• SBA Grant
  • The SBA offers grants between $50,000 and $250,000 to small businesses (microenterprise organizations) that deliver services to entrepreneurs.
  • This is known as the Program for Investment in Entrepreneurs Act.
  • This type of grant is for both new and existing businesses.
• State Grants
  • State grants will often depend on your business’ revenue stream to determine how much assistance you need.
  • In some states if you earn a certain amount in revenue you no longer qualify for a grant.
  • Typically, the maximum funding is $50,000.
• Amber Foundation Grant
  • These grants are much smaller than the others on this list.
  • They range from $500 to $1,500.
  • These grants are available to women of all cultural groups.
  • The funds can be used for expenses incurred in the start-up of a business.

If you have been turned down for minority business loans in the past, not to worry.  We understand that receiving this type of funding can be hard.  Every bank has different standards.  This can make it confusing to know which bank’s guidelines you qualify for.

There are also other options out there in the market such as grants.  And even if you are not approved for a grant, there are still business funding products out there. Your dream of operating your own business does not stop at being told no a few times.

One alternative lending product you may want to consider is a merchant cash advance.  There are fewer strings attached than a traditional loan.  You can get the cash you need in hand in just three short days.  Our product can help you start to develop your business without all the hassle of a business loan.  A merchant cash advance focuses on getting cash in your hands fast!

It doesn’t matter whether you have good credit or bad credit.  If you are a minority business owner or not.  If you have only been in business for a short period of time.  All that matters to begin with is that you meet our minimum requirements to start the process.  The requirements are simple, have you been in business for over six months?  Do you do at least $10,000 a month in sales?  If the answer is yes, then you are ready to apply for a Merchant Cash Advance today!