Understanding Working Capital Loans
A working capital loan is a loan that is taken to finance a company’s everyday operations. These loans are not used to buy long-term assets or investments and are, instead, used to provide the working capital that covers a company’s short-term operational needs. Those needs can include costs such as payroll, rent, and debt payments. In this way, working capital loans are simply corporate debt borrowings that are used by a company to finance its daily operations.
Benefits of Working Capital Loans
Working capital loans can provide businesses with the funds they need to cover their short-term operational expenses. This can help businesses to stay afloat during periods of reduced business activity or when cash flow is tight. Working capital loans can also help businesses to grow and expand, as they can provide the funds needed to purchase new equipment or hire additional staff.
Our Minimum Requirements
1 Year in Business
625 Personal FICO score
$250,000 in Annual Business Revenue
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