Finding the Loan for You
Funding Well Capital is your number one business financing source, and we’re here to help with advice and knowledge on ways to get you the best possible rates.
One of the most difficult things in starting a business is securing funding. Having bad credit when applying for a loan can make it nearly impossible to run your business. Having money is essential to successfully incubating and growing your idea, as you can’t purchase equipment, properly staff your business, or forecast a budget until your finances are in order.
Funding Well Capital has worked on approving loans for businesses for years, despite credit. Below are options for business loans as well as tips to organically improve your chances of securing financing.
Types of Loans
- Accounts Receivable Financing — Businesses use money owed by customers as collateral in a financing agreement with a lender. Accounts Receivable Financing helps free up capital stuck in accounts receivables.
- Lines of Credit — A new or existing business can earn a suitable line of credit from lenders. Includes a rate based upon the health of your credit score.
- Equipment Financing — In this situation, equipment you rent serves as collateral to lock in your loan, helping you avoid putting up additional collateral. Usually comes at a fixed interest rate. The advantages are that you own the equipment outright after the loan is paid.
- Professional Loans — Loans established for healthcare professionals. Provides financing for dentists, veterinarians or doctors, usually with a higher limit on the loan.
- Hard Money Equity — An asset-based loan where a borrower receives funds secured by real property. These are usually given by private investors or larger corporations. Expectations are for high interest rates based upon shorter lifespan of the loan.
- Working Capital Loans — A short-term business financing option offered by lenders used to give businesses help with day-to-day costs.
- Debt Consolidation — Loan consolidation that transfers multiple debts into a singular loan.
- FMV Leases — Common, flexible leases businesses use if equipment or software that inevitably, rapidly loses value as soon as it’s utilized.
Funding Well Capital prides itself on providing the lowest possible rates in addition to the customer service of personal banker. Call today and let us show you what we can do for your business.