National
Funding, one of the largest fintech lenders of small- and
medium-sized business loans, is providing business owners with a helpful
resource. Its “What’s Right for Your Business? Short-Term & Long-Term
Business Loans Explained” infographic offers advice on when to choose a
short-term loan over a long-term loan and vice versa.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190604005142/en/
National Funding’s “What’s Right for Your Business? Short-Term & Long-Term Business Loans Explained” infographic offers advice on when to choose a short-term loan over a long-term loan and vice versa. The infographic educates small business owners on the benefits of short-term and long-term loans. For example, spring and summertime tend to be a high season for hiring in the construction, tourism, and hospitality industries. Short-term business loans provide quick cash to use as working capital and are typically repaid within one year. Long-term loans are a good choice for starting a business, as the longer repayment time gives businesses time to bring in profits. (Photo: Business Wire)
The new National Funding infographic educates small business owners on
the benefits of short-term and long-term loans. For example, spring and
summertime tend to be a high season for hiring in the construction,
tourism, and hospitality industries. Short-term business loans provide
quick cash to use as working capital and are typically repaid within one
year. According to StartupNation, January is one of the busiest months
for incorporation, with springtime the time for business startups to
grow. Long-term loans are a good choice for starting a business, as the
longer repayment time gives businesses time to bring in profits.
Short-term loans from alternative lenders usually have a simple
application process, funding may be within 24-48 hours, short repayment
terms, with potential savings on interest over the life of the loan.
Business owners use short-term loans for working capital to move to a
new location, meet a payroll deadline, seasonal hiring, inventory, and
similar financial needs.
Long-term loans from traditional lenders usually have a longer
application process, lower interest rates, and lower monthly payments.
When a business is just starting out, a long-term loan may be the right
fit to help a business get set up and grow.
“I founded National Funding in 1999 because I believe in American small
business owners,” said CEO and founder, David Gilbert. “At the time,
there were few alternatives to bank loans for small business owners.
National Funding filled the gap to provide small- and mid-sized
businesses with working capital and financing for business equipment. We
are committed to educating our clients through our blog, whitepapers,
and infographics as it empowers them to make the right decisions for
their business.”
Download the “What’s Right for Your Business?” infographic at: https://www.nationalfunding.com/blog/short-term-vs-long-term-business-loans/.
To learn more about National Funding, visit https://nationalfunding.com.
About National Funding
Founded in 1999, National Funding is one of the country’s leading
financial technology companies. Headquartered in San Diego, National
Funding has provided more than $2.5 billion in working capital and
equipment leasing for more than 40,000 small- to medium-sized
businesses. The company believes in American small business owners and
strives to provide fast turnaround, flexible solutions and great service
to all its customers in a diverse range of industries including
construction, excavation, manufacturing, packaging, printing,
restaurant, telecommunications, trucking, transportation, and waste
management, among others. National Funding, an Inc. verified company,
was recognized on the Inc. 500|5000 list for six consecutive years, as
well as placing on the San Diego Business Journal’s Fastest Growing
Companies list for past six years. For more information visit https://nationalfunding.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190604005142/en/