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Short-Term Business Loan questions —
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Short-Term Business Loan questions —
from an actual human being!
While there are many claims about the Employee Retention Credit
(ERC) program, the truth is a bit more nuanced. Yes, it’s possible for
some businesses to receive up to $26,000 per employee through the
ERC, and these funds don’t have to be repaid. However, qualifying for
these funds requires a detailed eligibility assessment and a claims
process handled by ERC experts.
There’s a common misconception that obtaining ERC funds is “fast and easy,” with the possibility of receiving millions. In reality, while the potential for significant funding exists, it involves a comprehensive review process to determine eligibility and correctly file claims.
Contrary to some rumors, the ERC program is not dead. Although the IRS is currently conducting thorough reviews of all in-process claims and has paused addressing new claims until the end of 2023, the program is still active. Businesses can continue to submit ERC claims, which will be processed after the IRS has worked through existing ones.
Absolutely. Despite the current processing delays, it’s worthwhile to spend a few minutes determining your business’s eligibility for the ERC. If eligible, your business could receive up to $26,000 per employee without the obligation to repay.
Yes! Once approved, a short-term business loan through Uptrend Financial can be deposited into your bank account as soon as the same day.
We designed our loan payback process to be streamlined, manageable, and super easy to set up. The repayment of your loan is streamlined through automatic bank account deductions, and the consistent daily or weekly payments are determined by your loan amount and term length.
Uptrend’s short-term loans come with fixed payments, ensuring that you pay a consistent amount throughout the entire repayment term. This structure provides predictability, allowing you to manage your cash flow without any unexpected surprises or significant up-front costs.
The short answer is maybe. Although we do require a minimum personal credit score for most of our lending products, a lower credit score does not necessarily disqualify you for certain types of business financing. We understand that different financial circumstances exist, and our goal is to provide accessible options to support your business’s financial needs, even if you’ve encountered difficulties with traditional lending avenues.
We offer flexible terms ranging from a few months to a maximum of two (2) years. One key thing to keep in mind is that the time it takes you to repay a term loan is often influenced by the loan amount, with larger sums typically requiring a more extended repayment period. Our business funding specialists will help you choose a repayment structure that aligns with your goals, your financial capacity, and the nature of your funding needs.
Certainly! We offer flexible repayment options that give you the ability to pay your loan in full ahead of schedule without any penalties or fees — and the ability to waive all remaining interest.
Of course! Many of our customers renew their short-term business loan in order to get additional funds. In fact, we offer options in which we’ll waive the remaining interest on your original loan when we issue you a new loan, and we also offer lower origination fees!
