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Where to Look for a Small Business Line of Credit

Anyone who has been in business knows that there are both growth and slow times in a small business’s life.  In fact, those growth periods are why small business owners stay in the game. There is nothing like the energy that is created when your company is growing. On the other extreme there is nothing worse than the down periods in a business.  A small business’s revenue and profits often runs like a squirrel, never in a straight line.  As a result, the trick in business is staying around through those periods and having financing or a small business line of credit in place to handle both ends of the spectrum.  They say managing cash in a small business is like trying to walk across a river that’s only 4 feet deep. Even though you should be able to keep your head above water; if you don’t plan, you could drown in the middle.

 

Getting a bank line of credit is hard right now

It is a tough time to borrow money or to get a small business line of credit in today’s financial market and that trend will probably continue for many years.  A bank really only wants to give you a line of credit or fund when you don’t need it and when you really need it, your bank will make it so laborious, challenging  and costly that you might just forget about putting one in place. Then, when you really need that fund, it will take too long to get it.

There are alternatives to a commercial bank

“Hard Money Lending” is a new trend in the financial sector.  Hard money lending is when private companies, not banks lend money to a company.  It is usually based on factors that banks or other financial institution will not consider and the fund often can be closed very quickly.

Financing Solutions provides lines of credit to established small business owners.  The line of credit covers small business owners during the ups and downs of their business.  In another option to a line of credit, Financing Solutions can come to the rescue in the case when an unforeseen expense hits a company which might cause that company to miss payroll.

How to get a Financing Solutions line of credit in place

The key to having financing in place for your small business is to talk to your financial institution, NOW, so you can have a backup cash plan in place.  Getting a Financing Solutions small business line of credit in place is quick and easy.  You’ll need to fill out a quick application online or give us a call.  We’ll ask for your company’s revenue for last year, your estimated credit score, and how long you’ve been in business.

Once we speak to you, we can send you an offer in minutes via email.  After we receive your signed offer letter, we’ll ask you for a few company documents.  These documents should be something you’ll have at your fingertips anyway. They include a few current bank statements and last year’s tax return, etc.

Our underwriting team will review your documents and we’ll be able to provide you with a final agreement soon after.  Our small business line of credit takes hours to a few days to get in place.

Financing Solutions (www.financingsolutionsnow.com) was one of the first companies to provide short term, unsecured, fast lines of credit for working capital to viable companies, allowing one to have a funding resource better than a bank or factor so there is no missed payroll in times of increased sales or unexpected expenses.

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