A small business loan is a term loan that allows a business to borrow an amount of money based on the amount of revenue generated by the business. The business will then repay the lender over an agreed term. Loan amounts can range anywhere from $5,000 up to $500,000, with loan terms between one month and five years.
A small business loan is a type of business loan specifically for small and medium-sized businesses. Typically you need to have been trading for at least 6 months and have a minimum monthly revenue of $5,000. Loans up to $150,000 can be approved and funded on the same day with only providing your bank statements and no security.
Small business loans available are perfect if you need fast access to working capital or to pay one off expenses.
Western Financial Group have a number of lenders that can assist your business.
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Contact Western Financial Group today to ensure you get it right – the first time!