Working capital financing is essential to any growing business. It helps keep your business current and competitive in your market. If you have commercial real estate or equipment that produces an income for your business, you can obtain working capital financing that can help pay down credit lines or accounts payable, freeing up money for growth opportunities. Before attempting to obtain this type of loan make sure that you have established good business credit scores. These credit scores will make a big difference when the lending institution is determining whether to give your business the money that it needs to succeed.
Working capital financing can range anywhere from $100,000 to $2,000,000 and more. The loan terms can range anywhere from 15 to 25 years. These loans typically are paid back in installments with no large lump-sum payments required. This is also known as a fully amortizing loan. Once acquired working capital financing can be used for acquiring real estate, expanding a current facility, building a new office, purchasing new equipment, operating expenses, or to buy out a current owner or shareholder.
All types of businesses are eligible for working capital financing. Service businesses, manufacturers, distributors, retail stores, professionals, restaurants, and gas stations can all benefit from these types of loans.
Ease the process of obtaining this financing by having your business credit scores in place which our unique Business Finance Coach.