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
Current Terms Available
- Rates from 4.9%
- £5,000 to £25,000 routine
- Funds may be available in days
- Provide working capital
- Fixed interest, short term
- Adverse Credit – no problem
- Funds for any legal purpose
- Simple and fast to arrange
- Improved cashflow
- Reduce financial risk
- Ideal for funding growth
- Minimal paperwork
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.
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 cashflow.
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.
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 the 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 cashflow.
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 overdraft facilities 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.
Simple access to the funds you need
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 cashflow in the shortest possible time.
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.
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 value 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 which 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.
The funds you need fast
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.
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
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.
What people say about short term loans...
Helping you build your profits
No long term commitmentsSpreading 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 loanFrom tax and utility bills to emergency repairs and asset upgrades, short term business finance can be invested almost anywhere within your company.
Funding, fastThese loans are designed to be easily accessible, with funds usually transferred within days or even hours of approval.
No need of collateralMost short term finance is unsecured. This means that is not based or secured on assets held by your business - reducing your risk.
Fixed costsRepayments are fixed and agreed upfront, helping you ensure your payments can fit your budget.
Fast to arrangeTime is money - the faster you can bring in the money your business is owed, the more business you can do.
Download Rangewell’s free and detailed guide to Short-Term Business Finance
What is Short Term Finance?
What is classed as long term?
What short term loans are available to small businesses?
Can I support my working capital with a short term loan?
How does a short term loan compare with a trade credit agreement?
Why not all providers are equal - finding the one that’s right for you
Ket terms explained
Interest rates may be highShort term Unsecured business finance carries a higher rate of interest as compared to other sources of finance.
Suitable for high margin businessThus it becomes imperative for the borrower to be aware of his credit score, which he or she can use to get good rates.
You may be personally liable for repaymentWith most forms of short term fiance being unsecured, you may have to undertake to be personally liable to make the repayments as a director of your company.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
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FreeWe make no charge of any kind when we help you find the loan you need.