You borrow a fixed sum to cover immediate expenses, repay it over a short term, and may be able to renew the loan as needed.
Helps maintain cash flow, manage operational costs, and navigate seasonal fluctuations or unexpected expenses.
Qualifications often include time in business, revenue levels, and credit history. Collateral may not always be required.
Loan amounts vary based on your business's financials, revenue, and the lender's policies.
Terms usually range from 3 to 24 months, allowing you to address short-term needs and repay quickly.
Interest rates vary based on factors like creditworthiness, often falling between 7% and 18%.
Once approved, you can often access funds within a few business days, making it suitable for urgent needs.
While both offer short-term funding, Working Capital Loans provide a lump sum for immediate needs, while Business Lines offer ongoing access to funds.
Yes, you can use funds to cover various operational costs, such as payroll, inventory, marketing, or addressing unexpected expenses.
Startups with a track record and revenue history may be eligible for Working Capital Loans to manage day-to-day operations.
Commonly required documents include financial statements, bank statements, business tax returns, and information about your business's cash flow.
Choose a lender, gather required documents, and follow the lender's application process to apply for a Working Capital Loan.