Lines of Credit – is for Businesses with an inconsistent cash flow, businesses that only need to borrow a small amount of capital, businesses that use invoices.
Different types of lines of credit:
Cash Account the most basic line of credit – which you can access when you’re in need of capital, whether to make a large purchase or cover a temporary gap in cash flow. This form of financing is that the money is always available when it’s needed, and you only have to pay interest on the amount that you borrow.
Inventory Line of Credit – specifically intended for purchasing inventory.
This kind of loans give the merchant, two advantages:
First, you can purchase inventory wholesale.
Second, purchasing inventory won’t take a large amount out of your cash flow because you’ll be paying in increments instead of one lump sum.
Invoice Financing – basically, this is a line of credit where invoices are the collateral.
Personal Loans Used for Business: Startups and young businesses, merchants who have excellent personal credit.
If your business is new to qualify for a business loan, consider using a personal loan. Personal loans are term loans that can be used for a number of purposes.
Short Term Financing: Is for young businesses experiencing rapid growth.
Short term financing covers merchant cash advances and short term loans.
Term Loans: Is for Businesses that need cash to fund one-time expenses like equipment purchase/real estate or expanding a business. Term loans are basic, everyday loans. The merchant receives the capital in one lump sum and repayments are almost always monthly.
For more information about Loans/Financing give us a call at 888-996-2273