Much like a traditional term business loan, a short term loan is both straightforward and predictable. They offer a set payment structure and may accept less-than-perfect credit scores. APRs will be higher than those of traditional term products, and it may be difficult for businesses with seasonal or variable revenue to meet daily or weekly payments. However, the application, approval and funding process are typically faster.
LendRev can provide access to capital fast because we offer a direct path to the lending marketplace, empowering businesses like never before. Just complete one free application and LendRev gets to work, searching our network of lending partners where they compete for your business.
* In order to secure funding, LendRev requires at least three months in business with a minimum of $10,000 in monthly revenue.
† With the appropriate information and documentation available, it’s possible to have your application approved in as little as one hour.
‡ Many of our term loan and merchant cash advance providers can be very fast, providing funds in as little as 24 hours. SBA-backed lenders may take two weeks or more because Small Business Administration loans require significantly more documentation.