Choosing the Best Capital Loan Program
In any small business, one of the most crucial components of success is access to operating capital. This money, also called working capital, is the cash on hand to get you through all of the daily overhead that you will run into while running your business. When these funds are short, a business capital loan may be necessary to cover your expenses. Cash flow is a necessity if you have employees. Obviously, they expect to get a paycheck. Your utilities need to be paid, inventory may need to be stocked, and all of the other requirements that go into running a business have to be covered. When your operating capital isn’t sufficient, for whatever reason, you need a solution. You need a reliable financial institution that you can turn to for help. You need a working capital loan.
But for a small business owner, the challenge of getting approved for a loan can be overwhelming. Traditional banks and SBA loans require mounds of paperwork to be weeded through. Not to mention the incredibly high standards of personal and business financial specifications to be met, and a long waiting process all before you are approved or denied. What’s even worse is that 80% or more of small businesses don’t even make the cut after all of that work.
Online lenders like us have offered an alternative solution to this financial dilemma. Here at AdvancePoint Capital, we’re a leading Merchant Funding Capital Company that works with multiple lenders to get you access to the working capital you need. We’ll make sure that you’re able to get back into business quickly. Small business owners who work with our company get the benefit of many features not available with other lenders, such as:
Features and Benefits
AdvancePoint provides merchant cash advance services for businesses that can’t turn to traditional business loan options. We take pride in offering:
- Fast approval
- Consideration of your request regardless of your credit
- Flexible repayment options
- A simple application process
- Reasonable, competitive terms
- Speedy access to funds
We provide an accessible route to the funding that will keep your business moving forward. Our speedy approval process, coupled with our many other beneficial features, allows you peace of mind when traditional loan outlets won’t offer what you need. A working capital loan provides many outlets businesses need for obtaining capital for daily operations.
What is a Working Capital Loan?
At its most basic level, working capital loans are a way to manage your daily operational expenses. Working capital is what keeps a business afloat day in and day out. If you need to cover these day-to-day expenses, working capital loans provide a way to keep businesses going with much shorter terms through much lower amounts. These capital loans aren’t used to purchase long-term investments or assets, but rather work to fuel everyday needs. Working capital loans can cover anything from rent and payroll to debt payments and utilities.
Small businesses don’t always have the cash on hand to cover daily operations. Banks or other traditional loan avenues can be a nightmare to secure, and your business may not have time to wait around. Typically, seasonal or cyclical sales businesses reap the biggest benefits of working capital loans. Why? Well, these companies often have longer time periods where business activity is minimal and need to find different ways to find the capital that will keep their business running.
Retailers, manufacturing companies, or other types of businesses that don’t have stable revenue throughout the entire year still require accessible loan capital to maintain operations. We offer a way for businesses to pay wages or other required expenses through working capital loans. Capital loans are then repaid during the busy season.
The most common types of working capital loans are a term loan, business line of credit, or invoice financing. A term loan is fairly self-explanatory — these are loans that have a repayment schedule with either a fixed or floating interest rate. A business line of credit works a bit differently, allowing you some additional flexibility. Businesses are able to borrow an amount up to a certain limit and only pay interest on what they actually borrow. They’re able to draw and repay as needed, as long as they don’t exceed their limit. Invoice financing allows lenders the ability to provide short-term borrowing that is dependent on unpaid invoices.
While these three aren’t the only types of working capital loans, they are the most popular. Whether you’re depending on flexibility or unpaid invoices for your working capital, we’re able to help you find the solution that best fits your business needs.
Get a Fast and Easy Business Capital Loan
When cash flow problems get in the way of your day-to-day operations, business capital loans may be the answer to your problems. Making the best of a working capital loan lets you put the money back into your business, taking care of all of your business expenses, and giving your company the chance to move ahead again.
With AdvancePoint Capital, you have access to a variety of business capital loans, some of which you can get in 24 hours. While banks and traditional SBA loan options may leave you empty-handed, we’ll be by your side to make sure you get the capital you need for your daily operations. Our knowledgeable agents will work you to determine if you would be best suited for one of the following types of working capital loans:
Small business loans for owners in need of financing from $10,000 to $500,000. These loans come with terms up to 36 months and are repaid in fixed auto repayments from your business bank account.
Business lines of credit are typically used by small business owners looking for flexible working capital and immediate cash flow. These are similar to business credit cards and come with limits up to $100,000. You can use them, pay them back, and use the funds again until your term ends. A business line of credit is repaid over 12 months, but they give you flexible cash when you need it.
Invoice factoring is perfect for companies that rely on invoicing their customers for a large percentage of their income. These loans are available in small or large credit lines up to $2.5 million, depending on your accounts receivables due in up to 90 days. This type of invoice financing lets you free up cash that is trapped in invoices and use it today.
Business cash advances, also called a merchant cash advance, use a percentage of your future sales to get money today. From $10,000 to $500,000 with no term limits, these are not considered a loan but rather a pre-sale that you haven’t made yet. The repayment strategy is flexible and paid back through a percentage of your future credit card or debit card sales.
Medical practice financing is available solely for those in the medical industry. It can be expensive to run a medical practice, so loans up to $1 million with long term options up to 7 years are available. These are repaid in monthly payments with an interest rate that starts at 5.99%.
Equipment leasing is a type of business funding that is specialized for small or large purchases from $500 to $150,000. When your equipment goes down, so can your revenue. Instead of waiting until you have the funds to fix or purchase expensive machinery, take out an equipment loan. With AdvancePoint Capital, decisions for leases under $10,000 are made in seconds through our simple application process, and terms are up to 60 months.
Fast and Easy Financing
Unless you want to manage the mountain of paper that is commonly required for mortgages, automobile loans, and traditional business capital loans — you’re going to need to consider an alternate route. In fact, the joke often used is that you need to be prepared to sign your life away. With AdvancePoint Capital, those stereotypes couldn’t be farther from the truth.
We know that if you are turning to working capital loans for your business, it’s because you need the money sooner rather than later. Our knowledge of small business owners’ needs has allowed us to create a process that is so simple and streamlined; you can have your paperwork completed within minutes and be approved within hours.
Typically, once you are approved, agree on the term loans, and finalize the paperwork, you have access to your funds through an ACH deposit or direct wiring process in as little as one business day. From there, it’s all about making sure that the payment you need to make is made on time, and you’ll be in business.
Flexible Term Options
The need for business capital isn’t cut and dried. For some companies, it is necessary to get them through a slow season. For others, it is needed in order to purchase equipment or make much-needed renovations. Whatever the need you have for some extra funds, the alternative lenders at AdvancePoint Capital offer flexible term options that can get you back on track and keep you there.
When your business is your livelihood, and you are responsible for your employees’ paychecks as well, you need access to capital fast. Our simple working capital loans are geared towards helping you be successful so you can repay your debt and keep progressing in your industry.
Get Started Today
AdvancePoint Capital makes the loan application process a simple, straightforward experience.
Start With This Simple Online Form
We know that you’re busy, and we want to make the application process with AdvancePoint Capital as easy as possible. Our simple process can get the wheels in motion any time you have a few minutes to spare.
Starting with this online form, let us know what your business challenges are so that our 24 hour live agents can begin building a solution for you. On your time, you can contact an agent, or we will contact you. Once we’re in communication, we’ll be able to discuss your options and answer any questions you may have. We’re here to help guide you along and make sure you’re getting the capital you need to grow.
Then you can fill out a short online application page, go to lunch or do what you have to do for a few hours while we find a lender to work with you, and – typically within a few business hours – you’ll have your approval.
We won’t keep you waiting around. We’re all about creating a simple approach to the capital you need. Once the paperwork is finalized, your money will be available in as little as one business day so you can move on with all of the responsibilities involved in owning a company.
AdvancePoint Capital offers to lend for businesses that need it most. Our working capital loans can offer you the solution that you’ve been looking for all along. All credit scores are considered. Apply today for fast and easy funding!