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Working Capital Loans
As a business owner, you likely understand how important it is to have working capital so that your business has financial viability and is able to meet all of its obligations. You can figure out your working capital by totaling your assets and subtracting your liabilities.
Because business can be cyclical for some companies, there may be times when you are forced to rely on your working capital so that your business can continue its day-to-day operations.
Patriot Financial LLC offers working capital loans to small and mid-sized businesses so that you can use the money for your business needs.
What Is a Working Capital Loan?
A working capital loan is a loan that you can take out from a business financing company like Patriot Financing, a bank or an alternative source. These are short-term loans that businesses can use to pay for their immediate cash flow needs. After you have secured funding from your working capital loan, you will repay it over a term of up to 12 months.
Working Capital Sources
There are multiple sources of working capital financing, including banks, credit unions, the Small Business Administration and financing companies. It can be very difficult for most businesses to be approved for working capital loans from banks and other financial institutions, and the SBA has strict eligibility requirements which might also be difficult to meet.
The Most Common Source of Working Capital Loans
While you might think that banks are the most common source of working capital loans for small businesses, banks turn down most of the working capital applications that they receive. The most common source of working capital loans for businesses are companies that specialize in business financing such as Patriot Financial LLC.
Advantages of Working Capital Loans
Working capital loans can offer several advantages to your company. You can get the funding that you need now to pay such things as salaries and other expenses that you need to continue operating. You will be given time to repay the loan while also having the liquidity that you need. Your interest rate will vary depending on your credit, but Patriot Financial may be able to offer you a loan even if you have marks on your credit record. We review all applications on an individual basis and make judgment calls when people who have bad credit apply for working capital loans.
- You can maintain ownership of your company
- You may not need collateral
- Fast Funding
- You can use the funds however you choose
Why Choose Patriot Financial for Working Capital Loans?
When you need working capital, it is important for you to find a source that is willing to finance you. Patriot Financial is able to work with businesses that have all types of credit. We can provide the funds that you need quickly through our fast approval process.
Our goal is to provide businesses with the capital that they need so that they can increase their profits and improve their bottom lines.
Contact us today to learn more about our working capital loans or submit your application today.