Keep Growing Your Business In Tough Times
February 4, 2022
The top reason any new business fails is a lack of capital. (1)
But today, you can avoid the challenges most businesses used to face accessing the capital they need to grow.
Traditional lending options can be time-consuming, have restrictive underwriting, and are unfeasible for most small businesses.
A working capital loan can promptly help your business address urgent financial needs, giving you the chance to cover cash flow gaps while considering longer-term solutions.
You can fund operations, pay employees and suppliers, and even handle other obligations like taxes with working capital.
Whether you’re a florist and need capital for a new delivery van, remodeled storefront, or even a website…
Or you’re a general contractor needing to remodel a bathroom and fix a major roofing issue in the same month…
You can be covered with a working capital loan.
Qualifying For A Working Loan
Specific underwriting requirements will vary from lender to lender and borrower to borrower, of course.
Typically, a lender will consider your business credit score, how long you’ve been in business, industry, and annual revenue. A lender wants to understand the financial risk they take in lending to your business.
Fortunately, qualifications for working capital loans are a lot less stringent than traditional bank loans.
You can typically fill out an application, upload documents, and get approval within a few days, if not the same day within a few hours.
What Can You Do With More Working Capital
It really just depends on why you need the funds. You can get a loan for as little as $5K, or even up to $750,000M to help you:
- Replenish Inventory
- Buy New Equipment
- Remodeling or Refurbishment
- Payroll Needs
- Increase Your Cash Flow
- Fund an Expansion
- Hire Employees
- Improve Your Marketing
Or anything else that will help you sustain or grow your business.
In 2021/2022, a lack of capital should be the last thing that stops your business from growing.
Easy applications, fast funding, and terms that work for any business are readily available.
Learn more about funding options available to your business today.