When it comes to financing for your business, there are not always easy answers. In many cases, traditional lending options are not flexible enough for your company’s goals. At other times, you have a need that is immediate and the long wait time associated with traditional business loans makes it a poor fit as well.
When traditional lending does not meet your specific needs, it is time to look for alternative business financing options.
Here at Merchant ReFi, we help businesses access the working capital they need to continue to operate smoothly. Whether you need immediate funding to meet payroll costs or you are looking at an excellent growth opportunity, we will assist you in finding the right business financing options. Check out the myriad of options we provide, and reach out anytime to learn more about how our financing works.
Unique Flexible Business Financing Options
Flexibility is key when it comes to financing for your small to medium-sized business. Too often, conventional business loans feature restrictive terms. Check out the following unique flexible business financing options we provide.
Business Line Of Credit
A business line of credit is an extremely flexible form of funding. You can draw on your line of credit as much as needed, and pay only interest on the portion of money you actually utilize.
In a sense, a business line of credit is very similar to a credit card. Unlike a traditional business loan, you are not borrowing a set amount. Instead, you can use as much or as little of the funding you are approved for as you want.
This is a very beneficial financing option for multiple reasons. For one, you will build your business’ credit as you go, creating a solid credit history. Another benefit is that this form of financing is extremely adaptable. Finally, the biggest benefit is that you only borrow the exact amount of money you need, as you need it.
Working Capital Loans
When cash flow issues are halting your business’ operations, a working capital loan might be the ideal solution. This flexible lending option allows you to quickly borrow what you need to keep your company running smoothly.
Working capital loans can be utilized for paying running costs, such as invoices, payroll, rent, and more. They do not require any extra collateral, and approval is fast. Working capital loans can help you overcome financial concerns that might have disqualified you from traditional lending options.
Equipment Financing Loans
In some cases, your business financing needs are extremely specific. If you are in need of new or used equipment to help your company operate more efficiently or to improve productivity, equipment financing loans could be the right fit.
This financing option is specifically geared toward the purchase of equipment. You can acquire loans for up to 100% of the amount needed to buy equipment for your company.
The good news is that the equipment you purchase will act as the collateral for the loan, which makes approval easier. Not only that, but approval can take place as quickly as two days.
Merchant Cash Advance
Another swift and efficient method for acquiring business funding is to utilize a merchant cash advance. This form of financing is essentially an advance payment against your business’ future income. It is a quick form of funding, doesn’t require perfect credit, and allows for lenient payment options.
If you are interested in working with a direct lender to access unique and flexible business financing options, reach out to our team at Merchant ReFi, or apply quickly and easily online today. We look forward to helping you acquire the funding your business needs.