Short-Term Loans
108 Greenwich St., 5th Fl New York, NY 10006
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Short-Term Loans

Short-Term Loans and How They Work

Short-Term loans are utilized as a way to fill immediate, short-term needs or cash flow issues. This type of loan doesn’t require a lot of paperwork, funds quickly, and can be used for almost any business purpose. Short-term loans are perfect for purchasing inventory, filling gaps between accounts payable and receivable, as well as any emergency repair or maintenance expenses that may pop up. While this type of financing does have it’s pros, having a shorter term also means having higher cost involved than traditional secured financing in a shorter term, generally collected via daily or weekly ACH payments. A traditional term loan is one where you borrow money and pay it back within a fixed term at a set interest rate. This type of loan allows you to  build your credit and you will have fixed monthly payments. The drawback is that they come with less flexible terms and rates and may charge a penalty if you pay your loan off early.

What’s Needed To Qualify for a Short-Term Loan?
Repayment terms of 3-24 months

  1.   Completed Application –  Click Here To Download The ECM APPLICATION
  2.   4 months of most recent bank statements
  3.   4 months of most recent processing statements
  4.   Minimum of 2 months in business
  5.   Minimum of $7,500 in monthly revenue

*Funding over $75,000 may require additional documentation, see 6., 7., and 8.*

  6.  Most recent business tax return
  7.  P&L
  8.  Balance Sheet

**After You Are Approved, Additional Documentation May Be Required Before Funding – Click Here For A List of Possible Requested Items**

See what your business qualifies for

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