Short term finance offers any type of business a cashflow boost where terms are typically between 2 to 5 years. They can be sourced for a multiple of uses which include helping businesses with day-to-day operations, employing more staff, purchasing new equipment or funding for issues that have arisen due to unforeseen circumstances.
Some of the key benefits of short-term finance include:
- Limited amount of interest to be repaid due to the short-term loan period
- Application process is streamlined and decisions are made quickly
- Funds are available quickly, often within 5 to 7 working days of the application
Currently one of the most popular short term finance options is the Recovery Loan Scheme (RLS). The RLS is a government back initiative that is available to support businesses who have been impacted by COVID-19. Replacing the previous schemes of CBILS and BBLS, the RLS is open for any type of business and can provide funding over a maximum of 6-years.
The NGI team have over 15 years’ experience in sourcing short term finance deals. We have built strong relationships with a panel of lenders that are able to help all types of businesses.
To discuss your short-term finance needs please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.