When your business needs immediate capital but traditional loans aren't an option, a Merchant Cash Advance (MCA) from Swish Funding can provide the quick funding solution you need. Based on your future sales rather than credit scores or collateral, Merchant Cash Advances (MCAs) offer a unique financing approach for businesses with consistent revenue streams.

A short-term loan is money you borrow that must be paid back quickly, usually within a year. People often use it to cover sudden expenses or to get through a short cash shortage. Because the repayment time is short, the monthly payments are often higher. It is a quick way to get money but should be used carefully.

A term loan is money that a bank or lender gives you, which you agree to pay back over a set period. Instead of paying it all back at once, you make regular payments each month that include both the money you borrowed and some extra called interest. People often use term loans to buy big things, like a house, car, or equipment for a business. It is like borrowing now and slowly paying it back in a way that is easier to manage.

term-loans

A line of credit is an agreement with a bank or lender that lets you borrow money up to a set limit. You can take money out whenever you need it and pay it back over time. Interest is only charged on the amount you borrow, not the total limit. This makes it useful for emergencies or managing everyday cash needs.

Learn more about the different business loan types and their unique features to determine the right option for you.

When applying for a business loan, the first place many people begin their search at is their local bank. However, there are many other sources of business funding that are now available, ranging from older establishments to newer institutions looking to modernize the funding landscape.