Short Term Business Loans in Canada

Here at SharpShooter, we are committed to giving Canadian small to medium-sized businesses the financial support they need now, for tomorrow, and way into the future. We are flexible to the needs of small businesses and work with them to find the right financing program to suit their needs.

If your small business is struggling with short term cash flow issues, for example, a short term business funding solution from SharpShooter is ideal.

Funding from a traditional institution often needs to be repaid based on a strict repayment schedule. This is a limiting commitment that a lot of small businesses can’t make. We offer short-term business loans to help small businesses free up cash to manufacture more products, purchase materials, push retail or B2B services and more.

If your small business wants to expand, account for volatile sales, or just needs quick access to cash, short-term business loans make perfect sense.

Short term financing is versatile and helpful for a wide range of small business owners in industries like product manufacturing, retail, B2B services and many more.

There are a lot of financing options out there for business owners, but many of them are not ideal for smaller companies — this is why many small businesses find success in utilizing short-term business loans. 

When you get a short-term business loan from SharpShooter, you can pay back more when times are good, and scale payments back when times get rough. It’s your call — we work with you to understand your needs, your business health, and the solution that best suits you.

What You Need to Know About Our Short-Term Business Loans:

Before you apply online for a financing loan from SharpShooter, be sure to educate yourself on the uses of short-term business loans and our application process. Spoiler: It’s really easy.

What are Short Term Business Loans?

Short-term loans are a one-time loan that is to be paid within 18 months. These types of loans make the most sense for small businesses who want to account for volatile sales, expand, or need quick access to cash.

Short-term business loans involve a smaller funding amount that is paid off in a condensed time period. These loans tend to make a lot more sense for the small Canadian businesses that we work with.

How do Short-Term Business Loans Work?

Short-term loans are ideal for short term needs; when you need financing for seasonal needs like hiring or inventory, expensive debt, or need to pay a fee that your business won’t have the funds to cover until a later time i.e. when your busy season picks up.

Short-term loans are also frequently used to pursue unforeseen business opportunities that will generate larger cash flow in the future.

When you get a short-term business loan from SharpShooter, the short term doesn’t only refer to the size of the loan and the repayment period. It applies to our process too! You can expect your approval of your short-term business loan the same day you apply. If you get the approval, you can expect your money within 24 to 72 hours. 

When Would You Need Short-Term Business Loans?

When your cash flow is limited, your business can’t perform at its best — and you run the risk of missing out on key opportunities that can really help your business grow.

Don’t fall victim to this. Our short-term funding for Canadian small to medium-sized businesses can give you the working cash flow you need to:

• Bridge the gap between seasonal highs and lows, so you can manage your expenses no matter what you encounter
• Attain quick cash flow to take care of an emergency or other expected outlay
• Ease the wait for escrow payments or insurance clearance
• Act on discounted rates to get the materials and inventory you need

Can You Get a Short-Term Business Loan with Bad Credit?

On average, a bad credit score is considered anything between 300 and 625. That said, getting a short-term business loan with bad credit is easier than obtaining other funding solutions.

Bad credit may come at no fault of your own. In fact, a lot of the time, business owners boast great personal credit but poor business credit just because their business lacks credit history. 

Whatever the case may be, you can make use of bad credit business funding to get you in the green. After all, short-term loans have been known to provide small businesses with less-than-stellar credit a chance to grow well into the future.

Bad credit is often a barrier for organizations searching for traditional funding. At SharpShooter, we don’t assess our funding solutions based on traditional credit terms.

Instead, we work with you to understand your business and use your projected transaction earnings to decide on what program will work best for you. It really is that simple and straightforward.

The Benefits of Utilizing a Short-Term Business Loan:

• Fast Approval, Fast Money: Our short-term loans ensure that you won’t miss out on any surprise opportunities due to a lack of cash flow. This is because these loans can take little to no time to attain when you work with SharpShooter. It’s also worth mentioning that this loan takes less time to get accepted than long-term financing that requires a lot more time and documentation. Our short-term loans require minimal paperwork and involve a much more streamlined process.

• Easier Approval: Not only do you get faster approval when you apply for a short-term loan with SharpShooter, but it’s altogether easier to get accepted for these loans. We accept over 75% of applications that get sent out way.

• Less Interest: Because short-term loans are paid off in a shorter time frame, there is less time for interest to build-up.

• No Need for Guesswork: Your cash flow in the years to come can be unpredictable, so you may not be able to know if you can pay off loan costs. With short-term loans, you can make decisions based on your current profit or the upcoming profit you will receive soon to pay off the loan.

• Stress-Free: Paying off loans over a longer period of time can be stressful for certain business owners, which is where short-term loans come into play. This funding can be paid off quickly so that you don’t have looming debt.

• Bad Credit Accepted: You are far more likely to get accepted for a short-term loan with bad credit than you would be if applying for a long-term loan. Short-term loans will allow you to build back up your credit to attain larger loans in the future if your business requires it.

Getting a Business Loan with Bad Credit:

If your small business is facing bad credit, these are the four ways you can attain financing:

1. Accept a short-term business loan: As we’ve mentioned, short-term loans are a lot easier to attain with bad credit than long term funding. Start small and build up your credit by paying your loan in a short period of time. After you build that credit, you can work towards a potentially larger sum that you can pay off in a longer period of time. 
   
2. Sign a Personal Guarantee: If you have bad credit, you can still get a short-term business loan. That said, if you have a good personal credit score, you may find it valuable to leverage it.
   
3. Pledge cash down payment: Consider putting down a down payment for your short-term business loan in cash if you have a steady cash flow, but a less than desirable credit score.
   
4. Provide collateral or assets: If you have any future credit or debit card transactions or unpaid invoices, leverage them for a short-term loan — even with your bad credit! 

Short Term Small Business Funding VS. Big Banks

Small businesses have struggled to attain short-term loans from big banks for ages due to their strict requirements, lengthy application process, and selective nature. This is where alternative lending comes in.

Going through an alternative lender like SharpShooter makes obtaining the short-term loans your small business needs a whole lot easier.

Small business owners often lack the business history, healthy FICO score, and positive cash flow that banks look for when assessing financing applications. We make it a lot easier and straightforward for businesses to attain the short-term business loans they need to succeed.

SharpShooter allows you to apply online for short-term business loans without having to visit a physical bank or institution location.

Choose SharpShooter: Experts in Short Term Business Funding

SharpShooter has been providing small businesses with effective business financing solutions since 2015. We are 100% committed to the small Canadian businesses who we know can be successful and make a lasting impact with the help of flexible funding.

We pride ourselves in being more flexible and efficient than traditional bank lenders. We value integrity, innovation, respect, passion, results, and support for Canadian businesses — it’s these values that have made us leaders in small business funding for Canadian businesses.

At SharpShooter, we believe in the small and medium businesses Canada has to offer, and the Canadians who keep them running. With our cutting-edge data science, partner relations, customer support, and technology, we are able to provide Canadian small business owners with the financing they need to grow their business.

Apply Online: Get Short Term Funding for Your Business Today

We make applying for your short-term loan easy by streamlining it online. All you have to do is apply online for your loan, wait for one of our funding specialists to review and approve your application, then receive your financing!

We provide same-day approval so that you don’t have to wait in anticipation. If approved will get you your funds within 24 to 72 hours.

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