Top 5 Tips When Getting a Short-term Loan
With so many different short-term loan options out there, it’s important to know exactly what to look for and how to make the process as smooth as possible for yourself and the lender.
As short-term loans specialists, we know what it takes to get the right loan for your needs with minimum fuss. That’s why we have compiled our top 5 tips in getting a short-term loan.
Do Not Panic
Needing finance fast? Don’t just leap into the first solution you find as you could find yourself in a difficult spot down the track. Take the time to assess your position and work out what is going to work for you and that you are applying for short term finance from a reputable and experienced lender.
Assess Your Options
You need to assess your short term funding options and compare the costs and interest rates associated with obtaining a short term loan. There are hundreds of different short term lenders in the market place, each one of with a different need or purpose and also with different costs and interest rates. Call us to help you narrow down what you are seeking and what funding options may align to your particular needs. Upon your enquiry, we will give you a complete quote upfront as to the total costs and interest rates offered by Short Term Funding Group’s lenders for your short term finance requirements.
Have Your Documentation Ready
In some loan application cases and depending on which loan would be suitable to the borrower, knowing what the lender is going to ask for helps you to get the jump on the application and speed up the entire process. If needed, we ask that the borrower have easy access to their bank statements, BAS statements, income tax returns for the previous 2 years and business financial statements for the last 12 months. Most lenders will not require this information but having it available would be a great benefit to determine which lender would be the most appropriate to fund your needs and requirements.
Read The Fine Print
It's important to know exactly how much your getting, how much the repayments are and what the total cost of the loan is. You should also be aware of any fees applicable and any special features of the loan.
Speak to a Specialist
There is a lot to consider when it comes to a short-term loan which can be quite daunting for anyone not familiar with the process. Make sure you have someone in your corner who can find the right loan for your needs and guide you through the application steps. As a short-term funding specialist, we can help you every step of the way so get in touch today.
If your company or business needs a lifeline to fund a new initiative, grow your company, or keep it running, call us on 1300634634 for a confidential discussion of your business needs and your short term funding options, or complete the form and we will get back to you as soon as possible.
Short Term Funding Group - Helping Australian Companies and Businesses to secure funding.
1300 634 634
Level 25,100 Mount Street North Sydney 2060