Commercial Lending Loan
Operating a business isn’t easy: the cyclical nature means that it’s inevitable you will have shortages of working capital on hand. This can be problematic if you have various short-term costs associated with operation, such as payroll, expenses, and inventory purchases. Many businesses use a commercial loan to help bridge gaps in cash flow that may prevent purchases of equipment or investment in a range of necessary items. By definition, a commercial loan is simply any type of financing that is issued to a business. Commercial loans cannot be issued to an individual directly. The maturity period of a commercial loan can be short-term (30 days) or long term (up to 30 years), some are secured with collateral while others aren’t. Traditional lenders who provide commercial loans typically require businesses to provide excessive financial information and often require personal insurance on the loan amount.
How Can a Commercial Lending Loan Help My Business?
Any business in any industry can benefit from receiving continual funding to promote growth and sustainability within their company. Once you receive a commercial loan, it is entirely up to your own discretion how the money is spent within your business. Many businesses use their commercial loans for some of the following expenses:
- Investing in additional equipment
- Investing in technology
- Undertaking new advertising and marketing efforts
- Hiring seasonal employees
- Purchasing inventory for seasonal increases in demand
What’s the Process?
Acquiring a commercial loan through a traditional lender can be a hassle depending on how old your business is. Many lenders will want extensive company information including revenue data, profit and loss summaries, credit histories, and a range of other complex documentation. This can be especially problematic for individuals who own small businesses — if you have only recently started your company you may not have the necessary information to get a commercial lending loan through a traditional lender. In addition, the length it can take some banks and financial institutions to provide you with a lending decision can often be weeks, or even months. This can destroy your ability to take advantage of certain opportunities. In rare circumstances, it could even severely damage your business if you are unable to meet certain cash requirements or bill payments.
We’ve attempted to make the process as painless as possible for our clients. We don’t have the time-length and extensive documentation requirements that traditional financial institutions have. Instead, we ask for simple revenue data that helps us understand the amount of money your company can generate. Our streamlined online application portal is able to generate decisions at a fraction of the speed of traditional lending services. In addition, we can get the working capital in your account quickly so you don’t have to miss an opportunity or risk your business’s reputation with other creditors. We are able to provide our clients with access of up to $150,000 in working capital. But don’t wait for an emergency or opportunity to arise, apply today through our easy-to-use online portal!