There are times when you need a complement to your bank lending relationship. Despite current uncertainty, banks are lending as aggressively as ever to support your needs in this challenging time.
But even so, going to the bank or even leveraging your revolving line of credit for every working capital need might affect your business agility moving forward and ultimately strain your bank relationship. And dealing with relationship issues, longer decision-making time frames, and potential restrictions on your lending requests may not be optimal when dealing with a short-term cash crunch.
The engine overhaul that wasn’t planned, the employee turnover expense, the insurance deductible from the accident, and the equipment failure are all expenses that can get a chokehold on your company’s cash flows. How can you run your business instead of running from it?
Help is on the way. There is a simple working capital loan that allows for:
- Access to cash when you need to manage the cash crunch
- Affordable repayment structures
- Flexibility that allows you to obtain different amounts of cash at different times
- No restrictions on use
Some business owners might leverage this loan for events like inventory purchases, equipment repair, office/store remodeling, emergency expenses, or anything that might help with unexpected cash flow needs.
Adolfo, the principal of a tire company serving the livery business, said it best:
“The first time they helped us is when our machine broke down, and we were able to buy new equipment. The second time we were very low on inventory, and the capital enabled us to restock our inventory completely. They were really easy to deal with and it went very smoothly.”