Rangewell

Short Term Finance: Boost your cashflow without long term commitments

When you have unexpected costs or a big opportunity, Short Term Finance can provide the cash you need without affecting your long term plans

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Funding options

£

Simple

  • Rates from 4.9%
  • £5,000 to £25,000 routine
  • Funds may be available in days
  • Provide working capital

Fast

  • Fixed interest, short term
  • Adverse Credit – no problem
  • Funds for any legal purpose
  • Simple and fast to arrange

Effective

  • Improved cashflow
  • Reduce financial risk
  • Ideal for funding growth
  • Minimal paperwork

Talk to Rangewell – the business finance experts

We know that your business faces financial opportunities and challenges every day. We can help you find lenders who can provide simple, cost effective short term solutions.

At Rangewell we recognise your professional status, and we work harder to find you better solutions - which can include 100% finance for many of your needs.

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Short-Term Business Loans

Financing your business for the short term

You may be confident about planning ahead for your long-term financial needs, but there are many reasons why your business could still find itself in need of short-term finance

All the information you need

Short-term Finance is designed to provide the cash you need when you are in sudden need of temporary capital with instant access to funds without a long-term commitment. It lets you repay in a matter of months, reducing the cost of your borrowing overall, and letting you minimise the effect on your cash flow.

Looking for a short-term loan for your business?

We know the lenders who can help quickly

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What is a short-term business loan?

Short-term loans are ideal for businesses in need of an injection of cash, who don’t want to be paying off debt for years to come. Most agreements are under 12 months in duration.

They can provide significant funds – amounts of £5,000 to £25,000 are routine, and it can be possible to borrow considerably more.

They can be simple to arrange. With most types of Short-term Finance, the lender will make a full, upfront transfer directly into your business bank account as soon as the loan is agreed. However, unlike most forms of business borrowing, repayments are usually structured over a few months rather than a number of years, helping you clear your debt and remove any drain on your cash flow in the shortest possible time.

Why get a short term business loan?

Some can be challenges you may need to find financial answers to. You might need to find a fast answer to short-term challenges, like an unexpected bill from a supplier or the taxman, or a seasonal downturn that leaves you with a reduced cash flow. 

But you could also find that an opportunity comes along that is too good to miss, even if your cash reserves are short.

Buying in stock or equipment at a bargain price, taking on a new contract that needs gearing up to deliver, or simply funding the next step in your expansion plans could all be easier with extra cash. Access to finance is vital, but you might be wary of making a long-term financial commitment simply to answer a short-term lead.

If you're a business owner looking to grow your business. Speak to Rangewell today, we'll discuss your monthly payment, repayment fees, and we'll find flexible repayment terms to suit your needs.

What can short term business finance be used for?

Your average short term business loan will be used for working capital such as staff salaries, goods and services. Short term business loans can range from a period of time from a month to a year and can usually be processed by a specialist lender such as those at Rangewell.

Worried about unpaid invoices? We can offer short-term financing to help your cash flow. If you're a limited company or sole trader - speak to us today to learn more about a type of loan to improve your business.

Your bank may not be able to help

The traditional answer to short-term funding needs was to turn to your bank. But many high street banks have made lending more difficult in the wake of the 2008 credit crunch. Even those who may be prepared to provide an overdraft facility or business credit card will place strict limits on the total amount of credit they can advance your business.

Fortunately, at Rangewell we know the many new lenders who have come to the market in recent years, including those specialising in short-term finance.

Not sure a short term loan is right for you? We can talk to you about merchant cash advance and invoice finance. Our lenders will offer competitive interest rates and flexible repayment periods to suit your needs.

What are the different types of short term business loans?

Short-term loans can come in various forms, and here are just a few examples:

Unsecured borrowing

Most short-term finance is unsecured, which means it is not secured against your assets or those of your business.

This means that if your business does not repay the loan, the lender cannot seize your assets. This decreases the risk to you, although it increases the risk to the lender, and the interest rates may be a little higher as a result.

You will, however, need to agree to a personal guarantee to repay the loan, which means that the lender will approach you as a director if your business fails to pay.

Unsecured borrowing is often used to provide cash lump sums of up to £25,000.

Secured borrowing

It may also be possible to arrange short-term lending as secured finance, which means that lending will be secured on assets such as your business premises or your home. This can reduce interest rates, although the application process will take considerably longer. Because it is necessary to provide a valuation report on the assets used, it may take 3 weeks to complete the decision-making process.

There is no set limit to the amount you can borrow with a secured short-term loan. If your business has sufficient cash flow, and a sound business case that will show how you will use the money and how it will generate the funds to repay, it is often possible to provide £million plus funding deals.

What are the advantages of a short-term business loan?

One major advantage of unsecured borrowing is the speed at which lending can be arranged. Having cash can be vital when you want to secure a bargain, or to find the fastest solution to a challenge.

With smaller sums, it is often possible to provide the whole decision-making process from application to transfer of funds into your business bank account in as little as three days, and some providers may be able to provide funding even faster than that.

With online providers paperwork will be minimal, ensuring that your application can be processed and your funds released in the shortest possible time.

What are the disadvantages of short-term business finance?

A short-term loan is helpful, but it will also come with some disadvantages.

  • The interest rate of short-term loans will be higher than that of long-term loans. In addition, short-term loans will come with more significant monthly payments. This will mean more money will be needed to pay off debt.
  • Short-term loans can be easily obtained, so they can lead to more regular borrowing. If you cannot repay the agreed amount of a short-term loan, you can find yourself requiring another loan. 
  • A short-term loan can be good to build up a credit score. But if you can't afford to repay the loan, the consequences are enormous. The new debt will cause a decrease in credit rating.

Is my business eligible for a short-term business loan?

Typically, to be eligible for a short-term business loan, you'll need to have been trading for a minimum of 18 months as well as earning a turnover of at least £80,000 yearly. 

Not sure if a short-term loan is right for your business?

We work with over 300 lenders across the whole of the finance market - we'll find you appropriate and affordable finance

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How Rangewell can help

Short-term business finance can be used for almost any business purpose and can provide answers for businesses working in almost every sector.

However, rates can vary greatly, and finding a lender who can offer the most competitive terms for your business can mean looking at the offerings of many lenders throughout the entire market.

At Rangewell, we work with specialist lenders who can not only provide you with the funds your business needs but which have a proven track record supporting similar businesses. As we specialise in lending to businesses, we understand your finance needs

Our financial expert can discuss your needs, and talk to lenders throughout the short-term business finance market. It means we can find the funds you need at rates you can afford and help you get the agreement and the funds you need faster, and if you have any queries or need support, our friendly and professional lending team is on hand to help you. Whether you're looking for a low cost secured business loan to quick business loans or even unsecured finance and more, let us help you find the most appropriate solution for your business from over 300 lenders.

REAL EXAMPLES OF WHAT WE CAN DO

  • Help arrange funding for a building supply company to buy in stock at a bargain price

  • Find an arrangement for a plastics company needing to replace key equipment to restart production

  • Find finance to let a clothing company buy in material

  • Source funding to help an engineering company meet a major tax bill when a customer was slow in paying

  • Arrange funding for a sweet manufacturer to cover the costs of their first export order

What people say about short term loans...

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Discover our range of finances

Every type of finance for every type of business

Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.

Helping you build your profits

  • No long term commitments
    Spreading out loan repayments over a long period can have a negative impact on your future cashflow. Short term business loans are ideal for businesses in need of a quick capital boost coupled with the capacity to repay the balance in just a few, affordable repayments.
  • Multi purpose loan
    From tax and utility bills to emergency repairs and asset upgrades, short term business finance can be invested almost anywhere within your company.
  • Funding, fast
    These loans are designed to be easily accessible, with funds usually transferred within days or even hours of approval.
  • No need of collateral
    Most short term finance is unsecured. This means that is not based or secured on assets held by your business - reducing your risk.
  • Fixed costs
    Repayments are fixed and agreed upfront, helping you ensure your payments can fit your budget.
  • Fast to arrange
    Time is money - the faster you can bring in the money your business is owed, the more business you can do.

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Frequently asked questions

Have a question?

How do I find the right short-term business loan?

There are some things to consider when choosing the right business loan, this includes:

  1. The amount you want to borrow
  2. What interest rates you'll expect to pay
  3. The length of your loan terms
  4. The application fees that you're expected to pay

What is the minimum turnover?

Typically, to be eligible for a short-term business loan, you'll need to have been trading for a minimum of 18 months as well as earning a turnover of at least £80,000 yearly. 

How much can I borrow?

To find out how much you'll be eligible to borrow, use our online quote tool.

Can I get a short-term business loan with bad credit?

Yes, you can still get a business loan if your business has bad credit. Traditional lenders may not lend due to risk. However, finance is available from expert financial brokers such as Rangewell. The loan will likely include high interest and a shorter repayment period. 

Our service is:

Impartial

Transparent and independent, treating all lenders equally, finding the best deals.

In-depth

Every type of finance for every type of business from the entire market - over 300 lenders.

Personal

Specialist Finance Experts support you every step of the way.

Free

We make no charge of any kind when we help you find the loan you need.