How to get a quick business loan

A quick business loan for a short term emergency may be what you need to help deal with an immediate cashflow problem. Traditional methods of receiving a business loan can be time consuming and stressful with reams of paperwork involved, and small businesses especially can experience problems receiving funding.

Unless you are very fortunate, it can take several weeks for a typical bank to consider and approve a loan application. If used sensibly quick business loans can be effective and affordable and see you through a short-term cashflow problem.

The most obvious drawback of a quick business loan can be the high rate of interest. However, with Cashsolv our emergency loans are only intended to help you overcome a short term problem so the maximum term for a quick business loan is usually only three months.

To calculate the all inclusive cost of a loan that can be in your bank account within 24 hours, see our no gimmicks quick business loan calculator for a transparent view of the total costs. Longer term finance is also available.

Calculate your quick business loan now
 

What is the application process for a quick business loan?

As lenders we will meet with you to discuss your business needs and find out whether a quick business loan is suitable for your circumstances. A summary of your financial position, focused on how the loan will be repaid is required. 

Reasonably up-to-date accounts, although not essential will prove helpful to ease this process. Our priority is to ensure that the lending is responsible and repayment is affordable.

In most situations, we are be able to provide an immediate answer in principle and a standard loan agreement can be completed there and then.  Provided we are satisfied that we will be repaid on time we have the ability to transfer the quick business loan to the business bank account within 24 hours.

As part of the standard loan agreement, a personal guarantee will be required from one or more of the directors to support the company’s eligibility for the quick business loan. This may involve some legal advice.

Of course once the loan is repaid there is no further potential liability under the guarantee. 

What documentation is required for a quick business loan?

As lenders we are obliged to carry out important identity checks in order to comply with the Money Laundering Regulations.

We are required to satisfy ourselves that the company and its main officers are legitimate and a photo ID together with evidence of your address is required to be provided when applying for a quick business loan to enable standard checks to be carried out.

A Cashsolv quick business loan

If your business is viable and you are in need of a quick business loan, Cashsolv can lend between £20,000 and £250,000, and funds can be available in your bank within 24 hours of the enquiry requesting the quick business loan.

Such a quick turnaround can mean the ability to do react in emergencies such as funding immediate payroll, replacing crucial equipment that has failed without warning or purchasing additional stock required to fulfil a large order.

Whatever your requirement, our quick business loan can put the cash you need at your fingertips to overcome the cashflow difficulties thrown your way.

For further information Download our Guidance Paper on 'How a quick business loan can help your business finance problems'.

By Carl Faulds | 19th March 2014