Short-Term Loans | UpCurve

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Benefits of Quick Loans and Advances

Whether you need cash to purchase more inventory, fund your payroll, upgrade or repair your equipment, or cover emergency expenses, a quick loan or advance provides the financing you need when you need it. As a small business owner, you may find yourself strapped for funds while you wait for expected payments to come in. A quick loan can help restore your cash flow, so you have the operating funds you need while you wait.

Need to hire more staff or expand your business to stay afloat? A short-term loan or advance is a perfect way to finance these goals. When you work with UpCurve, you have the added benefits of quick approval, daily micropayments, a high approval rate, and a minimal amount of paperwork.

Why Small Businesses Can Easily Qualify for Short-Term Loans or Advances

If you have been in business for at least a year, you have a separate business bank account, and you have at least $100,000 in annual revenue or $3,000 in monthly credit card processing, you can apply for small business financing, through either a loan or an advance. We work with businesses from different industries including auto repair, beauty salons, retail, restaurants, hotels, and grocery stores. We also work with wholesalers, health services, business services, liquor stores, and businesses in the construction and manufacturing industries. The exact approval amount depends on the lender but is commonly around 10% of a business' annual income.

Points to Consider When Looking at Short-Term Loans or Advances for Your Business

Short-term loans or advances can be alternatives to bank loans, and they can also be used along with a bank loan, as long as the financing is used for different purposes. Short-term small business financing works for businesses that cannot get approval for a bank loan, or for businesses in immediate need of funds.

Instead of repaying these short-term loans and advances in large monthly lump sum payments, the financing is repaid through daily micropayments. These payments are either variable or fixed and are withdrawn each day from the business' account or credit card processing. If a business needs additional funding, it is usually qualified for more financing once it has paid back approximately half of its initial balance.