Find answers to common questions about working capital financing, funding speed, qualification requirements, and how to use capital to grow your business.
Working capital funding can be approved and funded within 24-48 hours for qualified businesses. Our streamlined application process and quick decision-making mean you can access the capital you need without lengthy delays. For larger amounts or SBA working capital loans, the timeline may extend to 2-4 weeks, but we work diligently to expedite every application.
Working capital can be used for a wide range of business needs including inventory purchases, payroll, rent, utilities, marketing campaigns, seasonal expenses, equipment repairs, tax payments, and bridging cash flow gaps. Essentially, any operational expense that keeps your business running smoothly can be covered with working capital financing.
Basic qualification requirements include being in business for at least 6 months, having minimum monthly revenue of $10,000, a credit score of 550 or higher, and demonstrating the ability to repay the loan. We also consider your business's cash flow, industry, and growth trajectory. Even businesses with less-than-perfect credit may qualify for certain working capital products.
Our initial application process uses a soft credit inquiry, which does not impact your credit score. Only when you decide to move forward with a specific loan offer will we perform a hard credit pull, which may have a minor temporary effect on your score. However, successfully managing and repaying your working capital loan can actually improve your credit over time.
A line of credit provides revolving access to funds up to a set limit, allowing you to draw and repay as needed, paying interest only on what you use. A term loan provides a lump sum upfront with fixed monthly payments over a set period. Lines of credit are ideal for ongoing, fluctuating needs, while term loans work better for one-time capital injections or specific projects.
Yes, seasonal businesses are excellent candidates for working capital financing. We understand that seasonal businesses experience revenue fluctuations and may need capital to stock inventory before peak season or cover expenses during slower months. We can structure repayment terms that align with your seasonal cash flow patterns to ensure manageable payments.
Our financing experts are ready to provide personalized answers and guide you through the process.
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