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SHORT TERM
Short term loans allow for very fast funding so you get a lump sum of cash with a predetermined payment term. Payment is usually made daily, weekly or bi-weekly. The short term loan is best for business with high and consistent sales that are in need of quick unsecured cash to use however you need.
Pros:
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Fast Capital in as little as 24 hrs
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Unsecured
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Easy approval process
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Little documentation needed
Cons:
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Cost of borrowing can be more
Best for:
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Businesses that have high and consistent sales and bank deposits
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Businesses that need financing right away
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