Short term business loans are currently the rage within people and everyone wants to get their hands on them. Business owners have realized the benefits hosted within short term loans around them and are seriously thinking of them as possible options for correcting the issues in their cash flow and financial statements.
Now, when we talk about a short term business loan, it is necessary that we address the questions that you might have related to them. Every business has certain questions which they want answered when it comes to short term business loans. You would want to know which option is the best one for you and how you can go about achieving it.
In this blog we answer all of your frequent questions and try to shed some light onto how a short term business loan is best for you.
Will I be approved With a Poor Credit?
Your poor credit score does not create a problem when you are dealing with us. The loan you are going for can also be approved if you have a poor credit score. You have nothing to fret about and can get the loaned amount approved without a hassle.
We understand that most traditional banks can be quite stringent when it comes to approving loans for business with a poor credit profile, which is why we offer them the bait through our services.
When will I receive the funds?
When you apply for a small business loan with us, you can expect to receive the funds in a matter of 40 working hours. We have quick processes in place and realize that you might be in a race against time when it comes to external funding for your business.
Knowing just the kind of conundrum you are going through, we give you an option to get the funds quickly. Once you send in your loan plea, or specialist agent will run an eye through it and will let you know whether you have qualified for the loan or not.
As is the case with a majority of the cases, you would have qualified, after which you will receive your funds by the end of that working day or by the next working day.
What Needs to be Provided?
Once you apply for a small business loan or merchant cash advance you need to provide detailed documents that prove that your business can be trusted. Among others, you should provide the following documents:
- You should provide a proof of your Canadian or American business
- You should make sure that you have been operational for over 90 days or 3 months. Being operational for less than that wouldn’t help you qualify.
- Decent credit profile
- And proof of no bankruptcy
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This post was written by sharpshooterseo