Short Term Business Loan - Short Term Finance Options for businesses

If you want a short term business loan, you want the money as soon as possible. Short term borrowing, which is usually repaid in less than 12 months, is often used to cover cash flow problems, and often needs to be organised at relatively short notice.

A risk of sourcing finance in a hurry is that you’ll pay more than you should, or you’ll get locked into a product that hasn’t got the flexibility you were looking for. It’s essential to plan ahead, and to take third party advice where possible.

There are plenty of business support agencies who can provide advice on the choices available, or you can speak to a commercial finance broker. There’s no charge for getting advice from our experts at Touch Financial and because we’re independent we’re also impartial. That means we focus on your needs.

Alternatives To A Short Term Business Loan

Anyone you go to for help about a short term business loan should explain the alternatives. There are plenty of banks and other organisations with money to lend – that’s how they do business. What you need is a lending solution that delivers flexibility, convenience and keeps your costs down.

A different approach to finance, and one that’s gaining popularity, is Invoice Factoring. Unlike a short term business loan, factoring doesn’t give you a one-off lump sum that you repay over time.

Factoring releases the money that you’re already owed by your customers, and which is trapped inside your sales ledger. It means that when you raise an invoice you no longer have to wait up to 90 days for payment – you can get to most of the money almost immediately.

Factors will advance you up to 95% of the value of an invoice, and they’ll often pay within 24 hours of receiving the invoice.

Benefits of Invoice Factoring

  • It’s not a traditional loan because it’s money you’ve already earned.
  • Flexible and controllable.
  • The available working capital grows with your business.
  • No assets are used as security.
  • The factor frees you from the burden of credit control.
  • It can be carried out confidentially.

Find out how much you could release from your sales ledger instantly online >>

How Could Touch Help?

Commercial finance can be a maze for the inexperienced. There are so many options that it’s hard to find the right way through to a solution that brings you the maximum benefit.

Don’t get trapped into a short term business loan that works for the lender but not for you. You might be under pressure to find a solution – but don’t be pressured into making the wrong decision.

As the UK’s leading commercial finance broker we’ve helped thousands of organisations to get what they want – a cost-effective finance package. Can we do the same for you? Make contact with us today.

Compare factoring quotes instantly online >>

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Every month Touch Financial help businesses improve their cash flow with invoice finance. Request a quote to find out how much extra cash you could raise.

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