Small Business Working Capital Loans
Are you worried about your business's cash flow and need additional working capital to improve efficiency, buy inventory, fund marketing, and overcome seasonal sales slumps? ViewRidge Funding can help
What is a small business working capital loan?
What is a small business working capital loan?
A working capital loan is a type of loan that businesses use to cover their day-to-day operational expenses, such as rent, employee salaries, and utilities. This type of loan is particularly useful when a business is facing tight cash flow or needs extra capital to seize a new opportunity that requires significant financial resources.
What is a working capital loan used for?
Working capital loans are one of the most flexible options of financing available to small businesses, the number of ways it can be used might be surprising. While there are too many ways to name what a working capital loan can be used for, here are a few of the more common needs your business may come across in day-to-day operations.
Business Expansion
New Location
Opening several locations is beneficial for business because of the increased revenue and presence.
Hiring
Depending on the nature of your business, this can mean new business hours and better customer service.
Inventory
Inventory is crucial for business, working capital can help with new products or existing products.
Equipment
Having the latest equipment and up-to-date technology ensures everything runs smoothly and efficiently.
Business Maintenance & Improvements
Working Capital
At times a business can have slow cash flow and you may need funding for day-to-day operations, like payroll and marketing.
Taxes
Self-employment tax, payroll tax, end-of-year tax, local tax, excise tax, or any tax bill your company may have.
System Updates
Making sure your business has the latest POS system or inventory software will help with efficiency and customer satisfaction.
Remodeling
Redefining your workspace can improve workforce morale and public image. Ultimately affecting customer retention.
Is a small business working capital loan the right option for my business?
A small business working capital loan is one of the easiest solutions for business owners. It can assist with helping businesses harness their full potential. Working capital loans act as unsecured debt, which means you as the business owner will not need to provide collateral as with traditional loan methods. This has many advantages for businesses that are in the early stages or businesses that are low on capital.