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Short - Term Loans

Short-Term Loan is an effective choice for companies that need a financial solution for their immediate, short-term needs or cash flow issues.

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What is a short term business loan?

Short-term loans are an effective choice for business owners in need of financing options for immediate working capital or managing cash flow.

Repayment terms range from 3 to 18 months.

Payments can be made daily, weekly or biweekly.

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How hard is it to get a small business loan?

Qualifying for a short-term loan with online lenders is not as difficult as qualifying for long-term business loans.

Businesses only need to be in business for a minimum of 6 months, have annual revenue of at least $7,500 and a credit score of 550 or above.

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Applying for a short term business loan online?

Orumfy makes it easy to apply and obtain small-business loans.

Simply create a free account and our platform will match you with a lender best suited for your business financing needs.

Loan lenders come to Orumfy to provide working capital loans as well as other forms of financing to business owners.

OVERVIEW

Short-term loans provide businesses with funding options without requiring collateral and allow business owners with bad credit to borrow money for immediate cash flow needs or long-term goals.

WHAT YOU NEED TO KNOW

Who is short term business finance for?

Businesses that are in need of working capital but find themselves in a situation where they have poor credit history can still qualify for funding from short-term lenders.

Most online lenders will consider funding you as long as you have been in business for a minimum of 6 months, have annual revenue of at least $7,500 and a credit score of 550 or above.

Short-term business loans are not just for borrowers with bad credit.

They benefit businesses with good credit as well.

When you need money fast, short-term loans is one of the best financing options.

A lender can provide funding in as little as 1 to 3 business days.

What are the advantages of short-term loans?

Short-term business loans are a good financing solution when you need cash quickly.

Whether it is an unexpected business opportunity, a cash flow crunch, waiting on an accounts receivable or to cover upcoming monthly payments, short-term loans can provide the necessary capital.

Making timely payments towards your short-term debt can significantly help your credit history and quickly raise your credit score.

Having a higher credit score will save you from paying higher interest rates in the future.

How do you apply for business financing?

There are a few different ways you can apply short term business loans.

In some cases borrowers choose to use a traditional lender like a bank.

Banks tend to want a high credit score, collateral, lots of paperwork and can take weeks.

Whereas working with a lender online, the process of qualifying for short-term financing is much quicker.

You can get the cash in as little as 24 Hrs.

Orumfy’s innovative platform helps you avoid paying higher interest rates, lower your fees and get cash back through our Rewards Program.

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How do short term-loans work?

Once the lender has approved your application, funding happens almost instantly.

Once the money has been wired to your checking account the payments start according to the agreed terms.

Repayment options can include daily payments, as well as weekly or biweekly payments for those with a high credit score.

Getting approved for a short-term loan on Orumfy’s platform is quick and simple.

How it Works
Step 1
Create your Orumfy account and see how much you are pre-qualified for
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Step 2
Complete the application process and provide the necessary documents
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Step 3
We analyze your business, and present you with multiple offers from lenders, best suited for your business
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Step 4
Once the offer is accepted an agreement is signed by all parties
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Step 5
Money is wired to your bank account within 24 Hrs
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Be it short-term finance or longer term loans, Orumfy can help any small to medium-sized businesses obtain the best rates available for small business loans. lets get started

FAQ

Short-term business loans vs. long-term business loans?

For small business owners that need to working capital quickly, the short-term loan is the best bet.

Short-term loan lenders specializing in short-term financing such as a merchant cash advance, working capital loans and invoice factoring require minimal paperwork and funding happens within 1 to 3 business days.

Another advantage of short-term business loans is the flexibility of payments.

Smaller daily payments will benefit the businesses short-term cash flow by not having large monthly payments at the end of each month.

Long-term financing such as SBA Loans or long-term loans by a lender online require good credit and often cash, real-estate or accounts receivable in case your loan needs to be collateralized.

Long-term loans are usually best for long-term goals in your business, as they tend to take a long time to get approved for, have a higher origination fee and require larger amounts of paperwork and good credit.

If you do have good credit and have the time before you need the capital, financing your business with long-term financing can definitely be worth the time as they offer much higher funding amounts with much lower rates.

What is the longest term for a business loan?

Small Business Administration loans can go as high as 10 to 25 year.

Your credit will usually play a major factor in determining the length that, as well as how much capital you can borrow.

What sources of finance are available to businesses?

From cash advance, unsecured business loans, business line of credit or just a business credit card, small business owners have many different ways of obtaining working capital.

Business owners should seriously consider obtaining both a business line of credit and a business credit card.

Simply using a business credit card for day to day activity will improve your business’ overall credit rating and help lower the cost of capital.

With Orumfy’s patform you not only can see what you qualify for today, how to improve your credit but also take a journey down the Yellow Brick Road (our Rewards Program*) to qualify for longer term financing in the future.

Overview

Overview

Short term loans are an effective choice for companies that need a financial solution for immediate working capital or cash flow issues.

The short term loans we offer are designed to help our clients establish a stable and independent business. This works by providing the working capital you need without requiring huge, lump sum payments at the end of every month adversely affecting your cash flow. Instead, you can take advantage of our daily and weekly payment options that are predictable and easier to manage.

Orumfy specializes in getting the working capital you need quick, at an affordable cost.

Max Advance Amount
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Approx. 50 to 90% of the total invoice amount.
Term
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When customer pays the invoice, you receive the remaining 10-50% reserve amount, minus the fees.
Factor Fee
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Approx. 3% + %/wk outstanding
Speed
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As little as 1 day
  • product-img
    Maximum Loan Amount Approx. 50 to 90% of the total invoice amount.
  • product-img
    Term When customer pays the invoice, you receive the remaining 10-50% reserve amount, minus the fees.
  • product-img
    Factor Fee Approx. 3% + %/wk outstanding
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    Speed As little as 1 day

How it can help your business?

How short term loans with Orumfy can help your business?

Here are just a few examples of how short term loans can help your business:

  • Purchasing inventory
  • Payroll
  • Filling gaps between accounts payable and receivable
  • New Web Presence
  • Marketing and Advertising
  • Hiring additional staff
  • Renovations
  • Working capital for unexpected financial opportunities
  • Unexpected cash flow issues
  • Unexpected financial emergencies
  • Making it through seasonal lows
  • Overtaking the competition
Grow your business with Orumfy today! lets get started

Things to Consider

Things to Consider

No collateral required.

Bad Credit – OK.

Obtaining working capital with small business loans is ideal for when you don’t have the time to fill out the extensive amount of paperwork needed for a traditional loan, or if you are unable to qualify for other types of products or are in a cash flow crunch.

The entire process is quick, so when that cash flow emergency does come up, you can get the working capital you need in less than 24Hrs.

How do you qualify for an Short-Term Loan?

How do you qualify for short term loans?

Qualifications with Orumfy are quite simple. Once you have completed the application process, we will just need to see:

  • Your most recent bank statements (going back 4 months)
  • Your most recent processing statements (going back 4 months)

At Orumfy, we specialize in helping small businesses get the working capital they need, so our requirements for your business are also very simple:

  • Your company must have been in business for at least 2 months
  • Your company must have a minimum of $7,500 in Gross Monthly Revenue

How does it work?

Short term loans with Orumfy are based on your daily sales and your cash flow. You simply continue to deposit money into a bank account to pay back the advance at a predetermined rate.

The payback terms for these short term loans are always easy to understand, and the repayment process is simple. You will always know in advance what the payments will be, so you won’t get hit with sudden financial surprises that can cause cash flow strains.

  • Step 1

    Complete the application process and provide the necessary documents

  • Step 2

    An Orumfy specialist will assess your business performance to let you know how much funding you qualify for

  • Step 3

    Once approved, closing documents are signed

  • Step 4

    Funds are wired to your bank account

How does it work?

Short term loans with Orumfy are based on your daily sales and your cash flow. You simply continue to deposit money into a bank account to pay back the advance at a predetermined rate.

The payback terms for these short term loans are always easy to understand, and the repayment process is simple. You will always know in advance what the payments will be, so you won’t get hit with sudden financial surprises that can cause cash flow strains.

How it Works
Step 1
Complete the application process and provide the necessary documents
Step 2
An Orumfy specialist will assess your business performance to let you know how much working capital you qualify for
Step 3
Once approved, closing documents are signed
Step 4
Funds are wired to your bank account

Cost and Terms

  • Factor rates for short term loans start as low as 1.09*
  • Dollar amount can go as high as $250,000 per business location
  • No maturity date

*A factor rate is different from an interest rate, which is calculated annually. A factor rate is what you multiply your small business loan amount by to figure out the total payback amount.

Orumfy takes a unique approach to understanding your business model enables us to provide you with cost effective working capital, because we take the time to understand you and your business’s cash flow needs.

Best Industries for
Small Business Loans

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Small Business Loans for HealthCare Working Capital for Medical Professionals
industry-img
Small Business Loans for Restaurants Working capital for the Food Industry
industry-img
Small Business Loans for Commercial Fishing Working capital for the Fishing Industry
industry-img
Small Business Loans for Auto Working capital for the Automotive Industry
industry-img
Small Business Loans for Food Trucking Businesses Working capital for Street Vendors
industry-img
Small Business Loans for Retail Businesses Working capital for Local Retailers
industry-img
Small Business Loans for Contractors Working capital for the Construction Industry
industry-img
Small Business Loans for Trucking Companies Working capital for the Logistics Industry
industry-img
Small Business Loans for Grocery Stores Working capital for the Local Businesses
industry-img
Small Business loans for Dental Offices Working capital for Dentists
industry-img
Small Business Loans for Service Businesses Working capital for the Consulting Industry
industry-img
Small Business Loans for Fitness Centers Working capital for the Local Gym & Yoga Studios

What you need to know

  • Who is short term business finance for?

    Businesses that are in need of working capital but find themselves in a situation where they have poor credit history can still qualify for funding from short-term lenders.

    Most online lenders will consider funding you as long as you have been in business for a minimum of 6 months, have annual revenue of at least $7,500 and a credit score of 550 or above.

    Short-term business loans are not just for borrowers with bad credit.

    They benefit businesses with good credit as well.

    When you need money fast, short-term loans is one of the best financing options.

    A lender can provide funding in as little as 1 to 3 business days.

  • What are the advantages of short-term loans?

    Short-term business loans are a good financing solution when you need cash quickly.

    Whether it is an unexpected business opportunity, a cash flow crunch, waiting on an accounts receivable or to cover upcoming monthly payments, short-term loans can provide the necessary capital.

    Making timely payments towards your short-term debt can significantly help your credit history and quickly raise your credit score.

    Having a higher credit score will save you from paying higher interest rates in the future.

  • How do you apply for business financing?

    There are a few different ways you can apply short term business loans.

    In some cases borrowers choose to use a traditional lender like a bank.

    Banks tend to want a high credit score, collateral, lots of paperwork and can take weeks.

    Whereas working with a lender online, the process of qualifying for short-term financing is much quicker.

    You can get the cash in as little as 24 Hrs.

    Orumfy’s innovative platform helps you avoid paying higher interest rates, lower your fees and get cash back through our Rewards Program.

  • How do short term-loans work?

    Once the lender has approved your application, funding happens almost instantly.

    Once the money has been wired to your checking account the payments start according to the agreed terms.

    Repayment options can include daily payments, as well as weekly or biweekly payments for those with a high credit score.

    Getting approved for a short-term loan on Orumfy’s platform is quick and simple.

FAQ

  • Short-term business loans vs. long-term business loans?

    For small business owners that need to working capital quickly, the short-term loan is the best bet.

    Short-term loan lenders specializing in short-term financing such as a merchant cash advance, working capital loans and invoice factoring require minimal paperwork and funding happens within 1 to 3 business days.

    Another advantage of short-term business loans is the flexibility of payments.

    Smaller daily payments will benefit the businesses short-term cash flow by not having large monthly payments at the end of each month.

    Long-term financing such as SBA Loans or long-term loans by a lender online require good credit and often cash, real-estate or accounts receivable in case your loan needs to be collateralized.

    Long-term loans are usually best for long-term goals in your business, as they tend to take a long time to get approved for, have a higher origination fee and require larger amounts of paperwork and good credit.

    If you do have good credit and have the time before you need the capital, financing your business with long-term financing can definitely be worth the time as they offer much higher funding amounts with much lower rates.

  • What is the longest term for a business loan?

    Small Business Administration loans can go as high as 10 to 25 year.

    Your credit will usually play a major factor in determining the length that, as well as how much capital you can borrow.

  • What sources of finance are available to businesses?

    From cash advance, unsecured business loans, business line of credit or just a business credit card, small business owners have many different ways of obtaining working capital.

    Business owners should seriously consider obtaining both a business line of credit and a business credit card.

    Simply using a business credit card for day to day activity will improve your business’ overall credit rating and help lower the cost of capital.

    With Orumfy’s patform you not only can see what you qualify for today, how to improve your credit but also take a journey down the Yellow Brick Road (our Rewards Program*) to qualify for longer term financing in the future.

Industries Orumfy has helped to obtain Small Business Loans

industry-img
Small Business Loans for HealthCare Working Capital for Medical Professionals
industry-img
Small Business Loans for Trucking Companies Working capital for the Logistics Industry
industry-img
Small Business Loans for Restaurants Working capital for the Food Industry
industry-img
Small Business Loans for Grocery Stores Working capital for the Local Businesses
industry-img
Small Business Loans for Commercial Fishing Working capital for the Fishing Industry
industry-img
Small Business loans for Dental Offices Working capital for Dentists
industry-img
Small Business Loans for Auto Working capital for the Automotive Industry
industry-img
Small Business Loans for Retail Businesses Working capital for Local Retailers
industry-img
Small Business Loans for Food Trucking Businesses Working capital for Street Vendors
industry-img
Small Business Loans for Service Businesses Working capital for the Consulting Industry
industry-img
Small Business Loans for Contractors Working capital for the Construction Industry
industry-img
Small Business Loans for Fitness Centers Working capital for the Local Gym & Yoga Studios
Apply to see what is Your small business loan options today!
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