There are a lot of things that can affect a company’s ability to function correctly, cohesively, and like a well-oiled machine. For instance, many organizations struggle to collect from customers and pay employees on a weekly basis. Fortunately, with sheer grit, determination, and a little luck, the owner is usually capable of keeping the ship afloat. However, when the institution receives an order for a substantial number of products or lands a massive service job, funds get pushed to the limit. When money is crunched, both the business and customers feel the effects due to delayed production and missed deadlines.
Consider These Options For Your Funding Needs
1. Working Capital Loans
National Processing offers a wide selection of funding options. Company owners that have a credit score of 500 or more, make at least $10,000 in monthly revenue, and have been doing business for 6-months can apply for one of our 9-24 month short-term working capital loans. Obtaining funds does not need to be complicated or overwhelming. So, give one of our all-star team members a call today and find out what all of the fuss is about for yourself.
2. Business Line Of Credit
To qualify for a business line of credit, owners must meet certain stipulations. For one, the company needs to have been in business for 6-months. Additionally, there is also a 650-personal credit score and $25,000 monthly revenue requirement. The weekly payments are affordable, and there are no penalties for drawing on the credit. Don’t delay any longer, and instead, get your establishment the revolving and fully amortized line it needs to be successful in the modern era.
3. Merchant Cash Advance
Does your organization have a high card processing volume? Does it seem like you are always waiting to receive money? If you answered yes, a merchant cash advance might be the perfect solution. It allows sellers to receive a flexible, 4 to 12-month, allowance for future receivables. This action is ideal for institutions that need to spend cash now. However, just like the other options, applicants must meet specific requirements to qualify. For example, the candidate needs 6-months of time in business, a 500 personal credit score, and at least $10,000 monthly revenue.
Don’t fret if these solutions are not appropriate for your company. There are still more options available, like invoice factoring or virtual funding. Regardless of how big or small the business is, National Processing has something for everyone thanks to its robust lender network and funding matrix.
