SHORT TERM LOANS
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Sometimes your business just needs extra cash right away.
Big Tex Capital helps businesses get funding in all shapes and sizes… Including loans that make it to your bank account in less that a day. Short Term loans are lump sum loans that are designed to be paid back in short period of time.
What is a Short Term Loan?
Short Term loans are lump sum loans that are designed to be paid back in less than 18 months. They can be a flexible financial tool that are best used for financing your short term needs. This including managing cash flow, dealing with unexpected needs for extra cash, or taking advantage of unforeseen business opportunities.
Maximum Loan Amount Of $2,500 to $250,000
Big Tex Capital provides money quickly when a you are caught in a cash crunch, have been hit with an unanticipated bill or need money in order to complete a deal.
Loan Term Lasts 3 to 18 Months
With Big Tex Capital your advance is repaid based on your company’s credit card receipts. If your business has had a slow day, the repayment amount for that day is reduced.
Interest Rats Starting at 10%
The effective APR is much greater, sometimes approaching double digit percentages depending on the factor amount and the amount of time needed to repay the loan.
Get Your Cash as fast as 1 Day
Big Tex Capital provides money quickly. These money loans can be obtained in a short period of time, often in just a day or two.
Who Qualifies for Short Term Loans?
Short term lenders emphasize cash-flow more than lenders of traditional term loans. Having a strong cash-flow can sometimes overcome other financial information that would disqualify a business for a traditional term loan. You should also know that the interest rate you’ll pay and the amount you can borrow will depend on your annual revenue, business history, and personal credit rating.
How to Apply for a Short Term Loan?
Short Term loans are exclusively applied to online. For that reason, a short term loan application is a fast and easy process. You’ll likely need to provide just your credit score, bank statements, and tax returns. Most short term lenders can fund borrowers just a day or two after they apply.
How Do Short Term Loans Work?
Big Tex Capital helps businesses get funding in all shapes and sizes… Including loans that make it to your bank account before you know it. Let’s take a closer look at how these smaller short term loans can make a big difference when you need capital in a pinch. Short term loans work like traditional term loans. You receive a set amount of cash upfront that you agree to pay back, along with the lender’s fees and interest, over a predetermined period of time. But with short term loans, loan amounts may be smaller, the repayment period drastically shorter, interest rates higher, and you often pay the lender back on a daily or weekly instead of monthly schedule.
What Will a Short Term Loan Cost You?
Short term loans also often come with factor rates instead of interest rates: a factor rate is a number that, when multiplied by your total loan amount, gives you how much you’ll be paying the lender back. Say you’ve taken out a $100K short-term loan and the lender has a 1.14 factor rate. 1.14 multiplied by $100K is the total amount you’ll need to pay back: $114K.
Big Tex Makes It Easier!
We know how much time it takes to run a business, so at Big Tex Capital we help you get a business loan in less time than our competitors. The team at Big Tex Capital will help you with the following:
SIMPLE APPLICATION STEPS
Big Tex Capital has designed and developed an all in one online Application that you can complete in just minutes. Sign and upload with your finger!
ACCESS TO MULTIPLE LENDERS
Big Tex Capital has partnered up with over 100 lenders to try to find your business the best possible loan and the most competitive rate.