Small business management can often be like riding a roller coaster. When times are good, they’re great – you feel like you’re on top of the world. When they’re not so good, it can feel like being pushed out of a plane and finding that your parachute won’t open.
Think of short term business loans as being like your emergency chute in that type of financial situation.
At Jefferson Bank, we’ve been providing short term business loans and financing solutions for St. Louis area companies for 125 years. Regardless of whether you need short term business loans to cover an emergency or just as a part of your regular course of doing business, our commercial bankers can help you fill the gap between your income and expenses.
Our experienced lenders provide companies with short term business loans at excellent rates and we offer uncommonly fast responses to applications for short term business loans. Call us at 314-621-0100 or submit our online contact form to get in touch with our banks in St. Louis.
Options for Short Term Business Loans & Other Financing Options
If your business has immediate financial needs, you may have more options for short term business loans and financing than you may be aware of. Whether you need additional financing until you’re paid for a project or if you need an emergency cash infusion, there are many types of affordable short term business loans that you can get from an established commercial bank. You don’t need to turn to outside investors, family, or friends for short term business loans – you can work with professional lenders instead.
Your options for short term business loans include:
- Business lines of credit: You can establish this type of financing for regular and predictable needs that go for longer periods of time as periods start at 90 days. It’s common to use these short term business loans to cover gaps in payment times. For example, if you only get paid net 30, this type of business loan can cover expenses while you wait to receive funds.
- Commercial short term business loans: These small business loans can range between 90 to 365 days and are often secured by inventory, real estate, or personal assets.
- Other types of secured short term business loans: If you are looking to get discounted rates and higher payouts on short term business loans, you can often accomplish that by guaranteeing short term business loans with personal assets, company assets, accounts receivable, and more.
- Business credit cards: These are easy for even relatively new businesses to qualify for. Business credit cards are good alternatives to short term business loans for general purposes. The interest rates are higher, but you can tap into them whenever you need them.
- Trade credit: While not technically short term business loans, these kinds of agreements work in a similar way. You can negotiate better terms with suppliers and vendors to give you more time to repay purchases and expenses.
Contact Jefferson Bank for Short Term Business Loans in St. Louis
Jefferson Bank & Trust is a St. Louis bank that’s big on helping your business meet its short term financial obligations. For advice on improving your business’s access to short term business loans and financing or to apply for a loan, call us at 314-621-0100 or visit one of our St. Louis banking locations today!