Short Term Business Loans

What are Short-Term Business Loans?

A short-term business loan is a fixed amount of working capital borrowed from a lender with a pre-determined interest rate. You pay it back with regular payments based on the term length. No collateral is needed for a term loan.

Short-term loans are the most popular way to fund a business. They provide a flexible financing option to handle growth opportunities, manage fluctuating cash flow or pay for unexpected expenses. We structure term loans with early payoff incentives to reduce your cost.

Running a small business can be challenging and time-consuming. When time is money, a short-term loan from Clarify can provide the working capital in as little as 24 to 48 hours.

Benefits of Short Term Loans

Every enterprise needs working capital and cash flow to grow and succeed. You can borrow it from family and friends, get a shareholder or apply for a small business loan. Each choice has its advantages and disadvantages. Here are the key benefits of getting a quick infusion of financing with a term loan:

Fast funding

The entire process of applying for a short-term loan to getting the money in your bank takes just 1-2 days. This speed allows you to focus on what you do best -- running your company.

You keep total control

With a term loan, you maintain full ownership of your business. There are no collateral requirements which allow short-term loans to be a safe financing option.

High approval rate

Whether you have good or bad credit, you can qualify for short-term financing. Check your options with our quick business loan application. We'll compare 75+ lenders to show you the best short-term loan for your specific needs.

Tax deductible

Interest paid on a term loan is tax deductible at the end of the year. This further lowers the cost of securing capital to grow your business.

Transparent process

Term loans from Clarify are simple, convenient, and transparent. Your dedicated advisor walks you through the terms and payment schedule. We've got your back.

Apply for Short Term Loan

How to Qualify for a Short-Term Business Loan

Being one of the fastest ways to get working capital, there are only three key things to keep in mind when applying:

1. Time in business

Your business should have been operational for at least 3-6 months. How long you've been in business is a risk assessment signal for lenders. The longer the duration, the lower the risk for lenders to provide you financing.

2. Average monthly revenue

Most lending companies require your business to generate at least $10K a month to qualify for short-term loans. Your current revenue numbers help lenders calculate the maximum loan amount your business qualifies for.

3. Credit rating

You can secure a term loan with both good or bad credit. Your credit score is one of the factors that determines your interest rate. The higher your credit score, the better APR you will receive. We recommend borrowers have a score of at least 550.

"Bryan provided me with a loan to get through my slower season. He took the time to really understand my business and worked with me on my projections for the next 12 months. Together, we figured out exactly how much funding I needed. I’m very thankful the time that Clarify dedicated to my company."

Shelly
Accountant
Brooklyn

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