Short-Term Loans
Definition:
A loan scheduled to be repaid in less than a year
When your business doesn’t qualify for a line of credit from a bank, you might still have success in obtaining money from then in the form of a one-time, short-term loan (less than a year) to finance your temporary working capital needs. If you’ve established a good banking relationship with a banker, he or she might be willing to provide a short-term note for one order or for a seasonal inventory and/or accounts receivable buildup.
See also “Bank Loans.”
