Merchant Cash Advance
A Merchant Cash Advance (MCA) is a popular financing option for small businesses who need quick access to cash. Unlike traditional business loans or lines of credit, the eligibility criteria for an MCA is based primarily on the amount and number of payments made through a business's credit card sales. This makes it a much more flexible option for businesses that may not have the strongest credit profiles, but have a solid sales record.
Line of Credit
A business line of credit is a reliable way to finance your company's needs, enabling you to access a predetermined amount of funds whenever you need it.It's like having a credit card for your business, but with more freedom and decreased interest rates. You can use the funds from a business line of credit for any business purpose, such as purchasing inventory, paying bills, or covering unexpected expenses.
SBA Loan
SBA loans are a type of financing that the Small Business Administration guarantees through a network of lenders. These loans can provide businesses with the capital they need to expand, buy inventory, purchase real estate, or cover other expenses. With loan amounts ranging from $50,000 to $5 million and terms between 10 and 25 years, there is an SBA loan to fit every business, no matter the size or industry.
Equipment Finance
Equipment financing is a financing solution that enables businesses to acquire machinery, equipment, or vehicles without paying the full cost upfront. Instead, businesses can spread the cost over a set period, paying it off in smaller, more manageable monthly payments. Small business equipment loans allow them to obtain the equipment they need to grow their operations and increase productivity, without putting a strain on their cash flow.
Asset Based Loans
Asset based loans give small businesses access to working capital through an agreement that’s secured by business collateral such as inventory, accounts receivable, equipment, or other property owned by the borrower. This means the lender is collateralized with an asset of the business. It’s important to note that the more liquid the business asset, the less risky the loan. An asset-based loan is a secured business loan that can be less risky and have bigger benefits than unsecured loans, including potentially lower rates.
Consolidation
Consolidation combines multiple debts into one. Consolidation is particularly useful for small business owners with several MCAs, as an MCA consolidation loan reduces the number of payments and can lower overall rates.