A lot of small businesses in Nigeria have funding challenges right from the get go – with an unstable financial market, most entrepreneurs are forced to borrow from unreliable sources, one can only be so surprised when lenders come and it all starts to fall apart.
To start your small business, one of the things you need to get right is your finances (funding) – and from the right source too. With a short term loan, you can do all that and more. Short term loans help you to:
- Properly start and set up your small business at a profitable scale
- Purchase or invest in equipment
- Improve cash flow to ensure smooth running of your business operations
- Take advantage of fleeting business opportunities
It’s no new thing that to make money, you need money. Short term loans give you that money that you need to make even more money. Getting a short term loan is actually easier than you think, how?
- The application process is easy and hassle free without need of any financial history or collateral provided, only a matter 3 steps and your application will be approved
- You get access to funds within days once your application has been processed
- You get to be in control of how you invest your loan unlike in a scenario where you invite people to buy shares or invest in your business
- You also have temporary obligations which ends once your loan is repaid and you can move on with your grown small business
There are several kinds of short term loans, depending on what you need. There’s the:
- Term loan – which is a single sum of money which will be repaid over an agreed period of time. Either with fixed or variable interest.
- Business overdraft – which is an overdraft attached to your business account which allows you to spend more than what is in your business account up to an approved limit.
- Equipment lease – which provides you with funds to secure needed equipment for business operations
- Invoice financing – which transfers your business’ liability to finance an invoice to us as the financier and then we take a small percentage once the customer pays up. We the financier pay up a majority of these customer’s invoices immediately to restore the cash flow for your business.
You can see why a short term loan might be the way forward for your small business to thrive and operate favorably as well as take advantage of fleeting business opportunities in the market. Get quick access to funds for your small business today with Thomas Gilts finance.
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