Short Term Finance
Short-term loan options could see you through to your next cash cycle.
It is no secret that businesses need working capital to function, but there is no single-loan solution for everyone.
If you are a business owner, understanding your cash flow cycle can prevent financial problems. However, if unexpected costs arise, short term loans can provide an adequate solution.
For explain, are your customers taking longer than usual to pay? These small changes can cause a huge ripple effect on your finances and can even affect the payment of wages.
If you are facing this situation, or something similar, these popular short-term loan options could see you through to your next cash cycle.
Merchant Cash Advances
This type of finance is not a loan, it is an advance. A merchant cash advance is when a lender purchases your business’s future sales, so it fulfils the same purpose as a short-term loan.
This type of loan is one of the most widespread, accessible types of business funding. However, it is often the most expensive type of short-term loan as well.
Overdraft Facilities
An overdraft allows you to go into a negative balance in your business trading bank account. You pay interest on the amount you have drawn, calculated daily.
Invoice Finance
Invoice finance is when you sell your invoices to a third-party funder in exchange for immediate payment of up to 80% of the face value. When a customer pays their invoice, the funder takes their fee and pay you the remainder.
Best of all, short term business loans from non-bank lenders are often far easier to secure and the turnaround time is much faster than what can be achieved by the big banks.
Contact Us
At Neef Financial Solutions, we help businesses achieve their own greatness with financial solutions that meet their individual business requirements. With access to over 60 lenders, including major banks, non-bank lenders and private funders, we can provide a variety of offers to customers.
If you would like to learn more about short-term loans, contact us on 03 9427 1952 or fill out our enquiry form and a member of our staff will be in touched to discuss your options.
