There are just those instances in business ownership when nothing can substitute cold hard cash. Maybe you need to pay for operating expenses, or maybe you can get a deep discount on a piece of new equipment if you pay in cash. Because not every business owner has cash on hand for these unique moments, it pays to know what cash loan options you have just in case.
If you were hoping to find a way to get cash for your venture, then these options might suit your needs.
Cash Loans
A cash loan is a short-term loan that allows a smaller amount compared to traditional loans. More often than not, these loans can be accessed through online platforms where lenders request all of the necessary documents and information to find out your eligibility.
Because these loans are smaller the loan term is much shorter, the intricacies of approval are often far less complex. That means most people can get approved for cash loans. And once you’re approved, you can expect to get the full amount credited into your account within a business day or two.
Doorstep Loans
Imagine getting cash delivered straight to your doorstep. Convenient, isn’t it? The doorstep loan was designed so that people who need cash fast can get it when they need it. Essentially, once you’re approved, a representative will visit your house to drop off the cash in person. These loans are usually smaller, and come with shortened loan terms.
As the name suggests, the doorstep loan doesn’t only deliver the cash to your front door – you also issue the repayment at your doorstep too! Each month, a collections agent will visit your home to secure your repayment until it’s complete. If you’ve planned ahead and you’re strict about your deadlines, then the doorstep loan can be incredibly convenient.
Cash Advance
Taken out of your credit card, a cash advance is the easiest to access, requiring zero application and processing. Simply stick your card into an ATM machine, navigate through the interface, choose cash advance, and designate the amount you need. The machine then dispenses the cash instantly, and you have your micro-loan in hand.
The cash advance can be a great solution for those emergency situations when time is of the essence. Needless to say, you will have to pay back the full amount plus interest, fees, and charges once your statement is sent to your address. But as long as you plan ahead and designate anticipate revenue for payment, then a cash advance can be a smart way to get your hands on some cold hard money when you need it.
In those situations, when cash is the only solution, these easy cash loan options give you an accessible source of funds. So whatever it is that you’re trying to finance – whether it’s a brand new piece of equipment or a diligent workers’ salary – you can be sure that these cash loan options won’t leave you hanging.
