Many businesses are cyclical. There will be times when you won’t have access to enough working capital to meet your business’s needs or goals. One commonly used option is to secure a commercial loan. It is used to fill gaps in working capital and hire and train staff, increase inventory, invest in equipment or launch new marketing promotions.
Commercial lending is any loan extended to a business rather than to a consumer or individual. Commercial loans can range from short-term (30 days to one year) to long-term (15 to 30 years). It can be secured (backed by collateral) or unsecured. Compared to personal loans, big lenders like the banks or credit unions will require extensive documents and income statements from the borrower. Most of them will also require collateral to ensure the loan.
Do I Need a Commercial Lending Loan?
For any business, it is important to have an accessible source of funding at any given time. This would ensure the business operations to run smoothly and profitably. Here are some positive ways your business can benefit from a commercial lending loan:
- Upgrade of Office Technology
- Upgrade of Business Equipment and facilities
- Launch New Marketing Campaign
- Hire and Train Additional Employees
How Can I Qualify for a Commercial Lending Loan?
Commercial lending loan can also be considered as Merchant Cash Advances. Merchant Cash Advance (MCA) offers benefits to small businesses that allow you to pay back the loan only when you make a sale. If you have a positive income statement but struggle with bad credit score, MCA may be perfect form of loan for your business.
If you are thinking of applying for a commercial loan from banks or credit unions, prepare a sizeable amount of documents to submit. It would take days, or even months to get approval. Most of the time, they only provide a one-time solution to the gaps in business cash flow.
Fast Business Financial
The best way to acquire access to working capital every time you needed it is to seek financial assistance from Fast Business Financial. At Fast Business Financial, we offer a revolving line of credit for small business owners. We can lend you from a minimum of $10,000 to as much as $250,000.
Our online application process will take 3 minutes to complete. We will assess the overall performance of your business and give you a feedback within 48 hours. We cut the red tape and get straight down to what’s important to you – additional capital.
Fast Business Financial is rated A+ by the Better Business Bureau. We have supported small businesses with a funding reaching to a total of $500 million to more than 7,500 small businesses globally. Let your business grow and gain a competitive. Talk to our loan specialist today! Dial (866)277 2907 and give your business a boost now.