Generally, you will qualify for a business term loan if you have an established business that is already generating revenue, and a good credit history. Business term loans come in many different shapes and sizes, so the specific loan amount, interest rate and length of the term will depend on your business financials and credit rating.

You can apply for a business short term loan online, or via one of our dedicated business advisors, and all we need to see is a government-issued ID (like a drivers’ license), a voided check from your business checking account, and the last three statements from your business bank account.

Small business term loans are ideal for bridging a gap or fluctuation in your cash flow, or for a one-off purchase of equipment or resources in order to capitalize on an opportunity or complete a big job. This is a great option when you need some upfront capital to keep your business on track or to take the next step, but you know that you’re going to have the funds in the near future to pay it back; for example, if you’re using the loan to cover payroll for additional staff just before your peak season.

As a small business owner, it can be frustrating when opportunities arise but you don’t have the capital to grab them with both hands, for example if you want to expand, diversify, or take advantage of a great marketing opportunity. Equally, an unexpected outlay can seriously tip the scales of your cash flow and have crippling consequences. That’s where small business term loans can make all the difference:

Quick access to up-front capital, right when you need it

Low-risk, because you’re preparing for an increase in cash flow

Regular, fixed payments over a set time period, so you can plan ahead and budget appropriately – no nasty surprises!

To find out what sort of business short term loan you could be eligible for, speak to one of our business advisors and get a quote without impacting your credit rating.