Do you have unexpected expenses that should be covered as quickly as possible? Perhaps you forgot to pay certain bills or you need urgent funding for an important project.
Short-term loans may be the solution you’re looking for. It’s designed for those who require financial assistance for a short period of time, including individuals, business owners, construction businesses and developers.
We go in-depth about the short-term lending industry in this blog post, which talks about what a short-term loan is and its benefits. But basically, if you want to borrow a short-term loan, you should have a regular income source and own a property, land, or any accepted security.
The great thing about this type of loan is that you do not need to have an outstanding credit history. Even with bad credit, you can apply for a short-term loan, as long as you have proof of the stability of our financial situation so you can repay the loan at the agreed schedule.
Understanding Essential Construction Finance Terminology
Let’s start by understanding what exactly construction finance is. In its simplest form, it’s a loan for those who need financial assistance for development, building a home or doing renovations. It differs significantly from purchasing an established property, of which the type of loan to apply for is a home loan.