Get Cash
Quickly
Don’t let opportunity pass you by while you wait for traditional loans to come through. We can get you approved for affordable financing in just a few days.
Whether your business needs money now to cover unexpected expenses or can use a boost to fund a big project, we’ve got you covered. We’ll find a great loan with interest rates that fit your budget, even if your credit score is under repair.
You can secure a loan using your business’s real estate
or equipment assets.
If you don’t want to add debt right now, you can bring in money by selling accounts receivable or equipment.
No matter what the situation, our brokers will help you discover the right financial tools to get the job done. Here are just a few of the many options available to small businesses.
Working Capital
You’re probably familiar with real estate and equipment loans, but did you know there are loans designed to boost your business’s working capital? There are several ways you can get money to use for recurring costs like utilities, payroll, and supplies.
The Small Business Administration backs private loans for small businesses that can be applied to working capital. Those that qualify can get up to $5M in cash from an SBA guaranteed 7(a) loan.
A line of credit is a solution ideal for businesses that rely on one quarter to bring in annual revenue. Lines can be borrowed from as often as needed, allowing business owners to smooth out seasonal fluctuations.
Hard Money Loans
A hard money loan is a fast way to bring in short-term financing. If your business holds valuable assets, it can use them to secure the loan. You get a percentage of the item’s current market value in cash.
Since hard money lenders are focused on the value of the asset, borrowers with low credit scores can still qualify. Since these loans mature in just a few months or years, you won’t get locked into a long-term commitment.
Hard money loans are ideal for businesses that need a short-term boost for special projects, incoming materials, hiring pushes, or unexpected expenses. There are no limits on what you use the loan for as long as it benefits your business.
Factoring
If you’re waiting for clients to settle their accounts so you can fund your next project, wait no longer. Factoring will give you an advance on accounts receivable so you can keep business on track.
Factoring is when a business sells its accounts receivable to a factoring firm, or factor. The factor gives the business a percentage of what the account is worth. Then, the factor collects from the client who owes on the invoice.
You can combine invoices, purchase orders, and contracts from many different clients or multiple items owed from one client. Once the factor collects a small fee, any remainder goes to you.
Sale-Leaseback
A business that is short on working capital but owns valuable equipment can negotiate a sale-leaseback. In this arrangement, a buyer pays the equipment’s current value to the business. Ownership changes hands, but the equipment does not. Monthly payments to the buyer allow the business to keep the equipment in place and continue to use it.
At the end of the lease term, some lenders offer to let the business buy back the equipment, renew their lease, or surrender the equipment. You can get cash now for heavy machinery, vehicles, commercial ovens, industrial coolers, and so much more.
Advantages
F.A.Q.’s
Q. Is a working capital loan right for my business?
Having access to a broad network of lenders allows us to offer affordable solutions to working capital needs. We can find the right loan for your business and help you get approved quickly.
Q. Are working capital loans a good idea?
The financial health of your business plays a big part in determining whether or not a working capital loan is a good idea for you. Working capital loans are short-term loans, meaning that you’ll need to be able to repay them more quickly than you would a traditional loan.
Q. How do you get a working capital loan?
Reaching out to the right broker is the best first step in getting a working capital loan. We can help you decide which lenders will be most receptive to your application. Then, we’ll look at any repairs you might want to do to your credit so you can get the best rates.
Q. Does my business have enough working capital?
If you’re unsure about the status of your business’s working capital, you can calculate its working capital ratio. The ratio is equal to the amount of the business’s liquid assets for the year divided by the number of current liabilities for the year. In general, a ratio of 2:1 is ideal.