Blog articles discussing factoring companies, factoring loans, invoice factoring and all things related.
There are a lot of terms used in financing. Growth capital is one of my favorites. What is Growth Capital? My definition is – money that is needed to expand the business and take advantage of growth opportunities.
As business owners, sometimes there are circumstances that arise that require funds above and beyond the cash flow of the business. Factoring companies can accelerate your cash flow by advancing cash against your account receivable, but what if you need more than that or your cash needs are to fund fixed expenses?
We have been seeing a lot of demand for a government loan program that was created to fulfill working capital and equipment needs. A small and select group of banks are offering this program. If you are a small business owner looking for a business loan up $150,000, inquire here.
Some of the details of the program are:
– 6% interest tied to the Prime lending rate
– 10-year amortization
– no prepayment penalty
– business owner can not have any liens, suits or judgments against the company
– no personal bankruptcy over the past 36 months
– personal credit score above 670
Our clients are using this loan to cover the costs of purchase orders, to market their business, to refinance debt, and to build inventory to name a few. The term “working capital” is a loose term meaning anything that is going to benefit the business. While using the loan for equipment is fairly specific, using it for working capital covers a broad base of uses.
If you would like to know more about this product, please inquire with us and learn more.
To you success!
Patrick Zazueta |Founder
Huntington Coast Capital, Inc.