Sometimes, a short term business loan is all a company needs. Expansions, remodels and partner buyouts are good examples of utilizing a short term business loan. The amortizations of an alternative short term business loan begin with 6 months and may extend up to 18 months. For example: A business owner wanted to remodel his restaurant, he applied for a micro business loan in the amount of $60,000 to complete his project. His personal credit scores did not meet traditional financing. Rather than waiting over thirty days to obtain a $60,000 traditional business loan and improve his credit scores, he obtained his funds for his remodel project within 7 business days through an alternative business loan. The client eventually fine tuned his credit scores and exited out of his alternative business loan with new traditional business financing.
Our client selected a short term alternative business loan with a 9 month amortization schedule because he already had an established business and did not want to hold the additional overhead once his restaurant remodeling was completed, he also fine tuned his personal credit during that time frame. Deadlines are very important to accommodate; our client’s remodeling project included specific time frames when to start his remodeling project and when to complete his remodeling project.
Time is a very important factor during any restoration process. Why should your business be penalized because funding was not on time?
For more information on how we can help you locally with short term business lending in Naples FL and Marco Island FL please fill out the online contact form about your concerns or give us a call at 855.477.9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.