A loan that is set to be paid back in a short period of time—typically within a year or two, sometimes longer. Most common uses include working capital, inventory or equipment purchases, and marketing. Short term loans also typically allow for quicker and easier access to funds with more flexible underwriting standards.

A long-term loan is smart to consider when making a large investment or looking to expand, typically 5 to 10-year terms with potential up to 20+. These loans can have a fixed or floating interest rate. Longer term loans may also require collateral, such as real estate to be pledged when securing the loan.

A revolving loan that provides a fixed amount of capital and that can be accessed when needed. Unlike a traditional term loan, all or part of a line of credit can be accessed on demand up to a fixed limit. The customer pays interest only on the outstanding principal amount in use.

While not technically a loan, a cash advance typically does not require a Personal Guarantee so may be riskier for the lender. Cash advances generally have a set term, payment schedule, or stated interest rate like a traditional loan. MCA's typically have a total payback and purchase a fixed percentage of the customer's future cash receivables.