A short term business loan is typically a loan which lasts for less than 3 years. This instant cash injection means you can grab opportunities, cover your costs and pay it back over a short period of time.
We take great pride in getting to know you and your business in order to ensure we identify the best finance package for you. In addition, we can offer:
Competitive interest rates from 6%
You may choose a short-term business loan to expand your business or to embark on a new venture. All kinds of businesses benefit from this kind of loan for all kinds of reasons. It’s your loan, your business, and your decisions.
Short-term business loans can be useful for:
Quick and easy application: Less paperwork and a simple process
High approval rates: There is less risk for lenders
Funds released quickly: Approval and money received in as little as 48 hours
Turn your loan into success: Use your loan to fund new projects or ventures
Higher interest rates and early repayment fees: Lenders are able to charge increased rates as it is over a shorter period of time
A more reactive way to borrow: Because short-term loans are easier to obtain, you may find that less planning goes into the application and it is easier to get into a negative cycle of becoming financially dependent on them
We want to make the process of applying for a short-term loan as easy as possible so we have broken it down into 3 steps.
Step 1: Apply: Talk to us. Tell us your business goals and how we can help you
Step 2: Application review: We will review your loan application in as little as 48 hours
Step 3: Funds released: Receive your short-term business loan and enjoy the freedom of having the funds to achieve your goals
We want to make the process as easy as possible for you. Most lenders require the following:
One to Two years trading history
A good business credit score or a good personal credit score
That said, if you don’t quite meet that eligibility criteria please do contact us as we work with our panel of over 100+ lenders, so can normally find a suitable lender for your situation.
Securing a loan can be a stressful time. Thankfully, with Union Business Finance we make the process easy and stress free.
"I approached Union Finance as we have worked with them in the past with a challenge to assist with a quick purchase of a freehold petrol station prior to the property coming on the market. We had a goal to raise £200K in a space of three days. I was informed by Sujane, my case handler, that due to the length of time trading and some historic adverse credit. It will be difficult to get a long term loan facility. We had therefore approached a short term provider who was more than happy to lend to our business for a 24 month period. Giving us time to acquire the business and remortgage at a later date. By doing this we managed to save £££’s on rent and increase our profits significantly. We are now at a very good stage within our business to grow and expand further. We couldn’t be more grateful for the speedy responses and Sujanes calm nature to constantly answer my phone calls."
If you were to change your mind certain lenders will provide you a discount at the time of settlement of the loan.