Short-term Business Loans
- No Collateral
- Affordable Interest Rates
- Quick Loan Processing
- Fast Fund Disbursement
- No Service Fee
I want to borrow
The small short term business loans are another category of business loans. The companies apply for them to finance their commercial needs for a short duration. This is to get fast funding access to assist businesses in arranging additional financing without disturbing regular activities.
You can borrow between £5,000 and £200,000 for the maximum duration of 60 months.
As being one of the preferable short term business loan lenders, 24cashfinances has included features in this sort of business finance:-
Manageable Repayment Term
6 Months - 60 Months
Quick Loan Approval
Get approval within 24 hours
Unsecured Business Finance
No Asset is Required to Pledge
Competitive Interest Rates
Loans on Affordability
Since these loans are unsecured, therefore, no asset is required to secure the loan amount. However, we may ask you to sign the personal guarantee. Alternatively, you may have to present a guarantor with good credit history and homeowner.
Small loans for businesses provide a quick and straightforward way to borrow money for start-up companies. They want to apply for a loan because no collateral is required, and they have more chances of guaranteed approval.
Our loan application process ensures comfort to every borrower, and they only need to follow these steps:-
Discuss with us or mail us how much short term finance is currently required. Share the documents of a one-year account and other business credentials.
Share your business's contact details with us, company number registered in England and Wales, and email address.
Get an instant quote from us, analyse its every aspect and allow us to process things further.
We present multiple deals in which you can make your choice according to your repayment capacity.
After the consent, the final deal is e-signed to allow business loan on the instant decision. We do a bank transfer of funds within 24 hours.
An Important Note: 24cashfinances is committed to assist you financially as quickly as possible. Our loan experts are experienced enough to take quick decision on each loan application.
The primary benefit of this short term business bridge loan is that you do not have to pledge the collateral. It means your assets are not on the risk of losing if you make a default on repayment. These loans are beneficial for the start-ups. It is because most traditional lenders are reluctant to offer unsecured business loans in the UK.
On another point, the direct lenders like us come as the ideal alternative by offering several benefits like:-
Easy-to-Apply: The online platform gives the advantage of the error-free and instant loan application. You can save a lot of time with less paperwork.
Shorter Repayments: Another advantage with short-term business loans for the limited companies is no longer repayments. Long term repayment can put you on the risk of missing repayments. They increase a lot of burden on your business income.
Loans for Any Purpose: You may be running a small business, but you need a cash injection to boost the capital. Such unsecured funding option arranges the much-needed cash for you
The funding option of small business loans also has some disadvantages, like:-
You may have to pay higher interest rates because no collateral is required, as happened in the secured loans.
With the loans' easy availability, you may find yourself trapped in unnecessary borrowing that may affect your overall business financing.
You are already paying higher interest rates, and if you miss a repayment, it may badly impact your credit score.
You may not be allowed to borrow for the long term or bigger business goals with smaller terms.
The short term loans for businesses are always an easy financial way to keep the cash flow. At 24cashfinances, we have added the advantages of online application and fast loan approval. Similarly, the qualifying criterion is also simple to follow:
As a business owner, you should be above 18 years of age
You must be running a registered limited company in the UK
You must have an annual turnover of £100,000
You should be trading across for more than 7 months
Once you find yourself eligible for short term business finance, you can use the funds for multiple purposes:-
Making an expansion
Paying Multiple Utility Bills
Making Significant Investment
The credit score is an integral part of the process when you apply for a short term business loan. Your borrowing history and recent credit performance are the crucial factors to get loan approva
As the responsible credit provider in the UK, we check business credit score. It is not to determine the loan approval, but to ensure loans on affordability. Many small business firms worry about their loan chances, especially when they approach the traditional lenders
24cashfinances ensures full acceptance of short-term business loans for bad credit with only reckoning their current credit performance. If there is some improvement, you get the instant loan approval to fulfil the specific business goals.
With flexible repayments, you can also improve your business credit score by:-
Making monthly instalments on time
Paying timely invoices
Paying utility bills on time
Submitting business accounts regularly
With instant approval, no collateral and no impact of poor credit history, the road is clear for you. Apply for short term loans for start-up businesses.
Why a Business has to take out a short-term business loan?
Are small business loans a good idea?
Is there any chance of short-term business loans with no credit check?
Which businesses can apply for a short-term business loan?
Can I Apply for Short-term Business Loans with No Personal Guarantee?