Most of the times, it has been seen that the business whether small or big has to face certain periods in their business, which affects the inflow and outflow of cash. This inadequate inflow and outflow hampers the working of business. A single wrong step in the business can lead to huge losses. A practical example of adequate inflow and outflow can be of seasonal products. The seasonal products are available in a particular season and the sale of which is realized in these months. Then what about the rest of months? There will be no or negligible sale in the remaining months. This will harshly affect the working of the business.
By keeping in mind all these factors, the financial market has introduced the short term business loans. They are especially designed for meeting the needs of the business. In order words, it is a good way to raise working capital for a business.
Short term business loan is provided for a period from 90 days to 3 years, depending upon the purpose of the loan. As these loans are for the short period, the lender expects that when the borrower is in good financial condition he should repay the amount as soon as possible. The reason behind...
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