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The Holidays are over, the new years’ resolutions are starting to ebb, and your business may be slowing down a bit, but your expenses are staying the same. How can you keep up with your expenses when you don’t have as much revenue coming in? One thing you may consider turning to is a working capital loan.

What is a working capital loan?

Have you ever thought to yourself “If I can just make it through this week/month/year then I’ll be able to keep going even longer.”? A capital loan is used to keep the cash flow going during slow times in your business so you can make it through the challenging week/month/year that you are dealing with before your business takes off again. You can use it to pay staff, grow your inventory, and take care of other operating costs. There is no limit to what you can use the money from a capital loan for as long as it is used to keep your business going. It can be extremely useful to have this extra income while you get your business back to where it needs to be. But it is still a risk and so it’s important you understand the pros and cons before you decide to get this type of loan.

Pros

Cons

With any type of loan, there is always a risk but if you know what loan is best then the risk may be worth it. If you are thinking you need financial help for a short time and you are certain you will be able to pay the money back quickly, this is likely the right choice for you. If you have more questions on what type of loan you may need, call us and our experts can help you decide.

Posted in banking on Feb 24, 2020