Smooth out Those First-Year Ups and Downs With Short-Term Lending

Getting a business off the ground and ensuring it becomes profitable as quickly as possible can be tough, but what’s even tougher is dealing with payroll and bills when those profits come in unevenly. Some months are financially too close for comfort. A solution does exist, however, in the form of a short-term loan that will let you get a leg up on your company’s budget. If you want some way to get past that rollercoaster of a payment schedule, a short-term loan may be best for you.

Meet Payroll and Keep Supplier Payments Current

It’s too easy to find that your bills are due the week before payments to you are supposed to come in, often leading to a round of phone calls asking about grace periods as you try to put off what bills you can. But if you have a backup fund available, you can pay your bills on time while you wait for your payments to come in and replenish the money in your account before the next round of due dates hits.

Have Immediate Emergency Funds

Related to having a backup fund for bills is the ability to have an emergency fund for those times when your business hits a low, be it a seasonal dip or one linked to national economic issues. If something were to happen to your business’ income, an emergency fund would let you continue to pay people and run your business as usual without panicking or laying off lots of workers. With the addition of short term loans New York businesses now have a way to build up emergency funds quickly, rather than slowly squirreling away money and hoping nothing happens in the meantime.

Consolidate Older Debts

One other beneficial use for a short-term loan is the ability to consolidate several other loans that may have larger interest rates or penalties for early repayment. Rather than drag out repaying those, you can use the short-term loan to pay all those other loans off. You’d be left with one daily or weekly payment to one bank instead of many separate payments to different places, and the payment structure would help you pay off the loan more quickly.

Getting a short-term loan is simple, and companies like New Leaf Funding offer several programs. Give your business a helping hand up with an infusion of short-term cash.

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