Our working capital programs offer businesses quick and easy business financing solutions in three easy steps.
Working capital is required by every business to pay its various operating expenses. Such business expenses would include but not be limited to taxes, payroll, inventory, vendors, and other overhead for its day-to-day operations. We work with hundreds of types of small to medium size businesses. Financial Advantage Group offers 3 main unsecured financing programs.
Term loans are a great option when you need to borrow working capital based on your company’s overall income/deposits. Businesses get a one-time lump sum of cash to use for your business as you see fit. Funds are deposited as early as the day you finalize your loan. Repayments can either be daily or weekly drafted directly out of your business checking account. Terms typically range from 3 to 24 months.
Line of Credit
A business line of credit is a revolving loan that allows access to a fixed amount of capital, which can be used when needed to meet short-term business needs. A business line of credit is the best financing option when you need extra working capital to cover recurring business expenses or bridge cash flow gaps. With ongoing access to funds, you have the flexibility to withdraw only what you need, when you need it—and pay for only what you use. So, you’ll be prepared for whatever challenges and opportunities come your way. LOC repayments will be drafted directly out of your business checking account on a weekly basis.
Merchant Cash Advance
A merchant cash advance gives a business access to working capital fast to meet their business needs based on future credit card receivables. Merchant cash advances work by giving a business access to funds in return for a portion of the business’s future credit card receivables. Daily repayments fluctuate based on a percentage of daily credit card receipts. If your business has high credit card sales or is seasonal, then a merchant cash advance might be ideal for your business.
Please contact one of Financial Advantage’s funding advisors about either of these working capital programs. All our clients work one on one with our loan advisors so that you are not passed around to multiple people. From start to finish, Financial Advantage Group is always there is help with your business’s financial needs.