What Types of Small Business Funding Are Available to You?
You have choices when we talk about utilizing Go Pro Capital for your service needs. We offer a wide range of choices for small businesses, including advances, term loans, lines of credit, equipment financing, factoring and more. With our resources and experienced team, we can help you get the working capital which is best for the growth of your service.
Small Business Funding and Advances
Small company funding is basically a cash advance taken by an organization, repaid by future revenue. The funds can be used for a wide range of things. Often companies choose to use it for inventory, physical expansion, staff payroll, new equipment or special opportunities. This financing arrangement has a particular date by which the borrower need to repay the entire advance with daily, weekly or monthly payments. This is ideal for businesses with less-than-perfect credit, as we base the decision on the business revenue and ability to pay, not just a credit score.
Term Loans for Small Businesses
Loans are more traditional financing. They are given on an agreed upon schedule, with interest added monthly to the loan balance. The borrower repays the loan over time according to the agreed upon terms of the contract. These often require stronger credit and may require collateral.
If you think it might be time for small business funding or thinking about improving your company operations, contact us at Go Pro today.
Lines of Credit for Small Business
A line of credit is a business loan that gives the borrower access to a specific amount of money in the present and in the future. It can be used for anything, and it’s especially useful in situations where you don’t know when you’ll need to draw on it. This is ideal for companies that see periods where cash flow might be tight, or when they need to purchase inventory ahead of time.
These are often made available to those with strong credit – or a strong history with us! Many companies start with other products based on their situation, and as they consistently pay on time, they build a strong history with us that helps get them to more aggressive products such as lines of credit.
Business Equipment Financing
Many small businesses require new equipment, whether it’s a computer system, software, tools for production or even a vehicle to go with the expanded service. Our business equipment financing is just what you might need in these situations. With our easy application process and fast approvals, it’s possible to get the equipment your business needs right away.
Heavy Equipment Financing
Heavy equipment financing is an attractive option for any business that has the need for heavy equipment, but often the credit requirements are too high. We work with some of the best providers in the industry to get you the loan you need to access this type of equipment on your own terms. This can be used for anything from specialized production needs, to a new vehicle to expand your service.
Invoice Factoring / Receivables Factoring
Invoice factoring is the sale of your outstanding invoice or receivables to a financier or factor. The factor will advance you cash based on the value of your invoices, and you can use it as working capital. This type of small business funding has no impact on the credit relationship you have with us – so if we’ve already given you a line of credit, you are still free to work with your factor or financier.
Get in touch if you would like help determining which small business funding option is best for your company. All it takes is one application, and we can get started helping your business grow today!
Collateralized Small Business Loans
Collateralized small business loans, sometimes referred to as secured loans, are designed for businesses that have high-value assets that can be used to secure the loan. These might include equipment such as costly tools or medical devices. Collateralized small business loans typically offer a lower interest rate than other financing options and require a strong credit score.
Many small business owners prefer this option because the loan is secured by a specific asset, and in the event of default, you could sell off or repossess that asset to pay off what’s owed.
Small Businesses Merchant Account Funding
Merchant Account Funding is a flexible capital alternative that basically permits your small businesses to access cash now by selling a part of your future credit card sales. We advance you as much as 100% of your average monthly sales. These funds can be used for any reason that you choose. Each day or week we are repaid a set amount until the entire obligation is repaid.
You have no checks to write, remittances occur automatically.
Small Business Funding Can Help Your Business, Growth & Profits
What does all of this mean to your organization? It suggests that you can quickly access capital to assist you over short-term obstacles. When you sell your stock, you can obtain a couple of thousand dollars to buy extra stock and quickly pay it back. You may want to protect longer terms to fund a year-long construction project to broaden your centers.
Small business funding also allows you to take chances to reach brand-new clients and expand your business when time is of the essence. Do not miss out on a big chance because of capital!
Apply Today
Complete our online application now and find out how much of an advance you may be qualified to receive. Unlike standard lending institutions, our funding is not based just on credit report.
Terms differ based on risk, and our team will work hard to get the best deal for you. Our turnaround time is remarkably quickly, and you may have access to cash within 24 hours.