Emergency Business Loans
Don’t Let an Emergency Hurt Your Business
$25,000 – $500,000
1 – 5 Years
$5,000 – $300,000
4 – 24 Months
$5,000 – $100,000
1 – 2 Years
Up to $250,000
Up to $200,000
1 – 12 Months
Actual offers vary based on your application information and lender.
Why Would I Need an Emergency Business Loan?
Any small business owner knows how unpredictable running a company can be. Even an airtight business plan can be of little help when the unexpected strikes, and a timely infusion of funds might be the difference between insolvency and staying in business another day. Reasons you might need outside funding include:
If your business’s revenue fluctuates throughout the year, you might need some extra funds during slow periods.
An unexpected expense like a leaky roof or equipment breakdown can leave you with the choice between a big bill and a closed location.
You have to spend money to make money, and a sudden spike in demand can mean leaving profit on the table if you can’t quickly scale supply.
What Are My Options for Emergency Business Funding?
The options available to you when looking for emergency funding depend on several factors, including how much time you have, your credit and the previous relationships you have with potential creditors. Some of the most common options are outlined below:
With factoring, a business sells their accounts receivable for cash. This can be useful in industries where there can be a time gap between when an invoice is received and when it is paid. It can also helpful for companies that work in manufacturing, where a constant influx of new materials is important to keep the business growing.
If you have the time, credit and solid business foundation, a loan with a bank can be a very good option. Compared to many other forms of loans, banks tend to offer lower interest rates and longer terms, letting you focus on growing your business rather than worrying about repaying what you borrow.
Line of Credit
A line of credit can be an excellent option when you want to keep your options open over time. In general, a line of credit allows you to draw up to your limit whenever you want. You usually only pay interest on the amount you draw, and your available credit regrows as you repay, allowing you to draw again when you need.
How The Business Backer Can Help
The Business Backer is dedicated to helping small businesses get access to the funding they need to grow. When businesses apply, The Business Backer matches them with a dedicated Funding Advisor who walks them through their options and the steps they need to take to get funding. Whether they are matched with one of The Business Backer’s in-house funding products or with an option from our True Relationship Network™ of partners, businesses can get the capital they need.