What Is a Short-term Loan?
A short-term loan is a loan with a short repayment period, typically one to three years. It’s usually unsecured, meaning you don’t need to pledge any collateral to borrow it. Instead, a lender will review your credit and income when evaluating your application. Short-term loans may come in smaller amounts than long-term loans, which may have repayment periods of five to seven years. However, a short-term loan may come with a lower interest rate than its long-term counterpart. You can use these funds for almost any purpose, including debt consolidation, home renovation, medical bills, wedding expenses, and more. The loan may have a few restrictions, though—for instance, you often can’t use a personal loan to pay for education expenses.
But, what if you need money NOW and your bank says no to your request for funding? Well, as a VOLT client, you can always come to us when you need quick cash to help you with your business.
These cash advances are a small business capital tool that uses your business’ future credit card receivables to obtain cash now. Don’t have collateral? No problem! If you processing debit and credit cards as payments in your business then you can get cash now! We also offer fixed-term business loan options as well. Contact us today to review your opportunities and see how we can help you achieve your short-term financial goals. Whether to purchase inventory, invest in a new marketing strategy, or improve business cash flow, Volt Cash will get you the funding your business needs!
Click HERE to learn more about Volt Cash and how to apply.
Contact Volt Merchant Solutions today to find out how we can help you stay ahead of the game when it comes to efficiently and effectively handling your payment processing needs.
