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The Need for Speed: Why Fast Business Loans Make All the Difference

Posted by Mulligan Funding Blog Team on May 8, 2015

fast business loansRunning a small or mid-sized business is a bit like driving down a freeway that is being built on-the-fly. Yes, there’s a strategy, a plan and a vision. But at the same time, internal and external changes can occur at any moment and require a rapid course change. And that’s when fast business loans make all the difference.

Why the emphasis on speed? Because as noted above, business owners like you don’t have the luxury of waiting months or even weeks to get access to the fast business funding that you need. For example:

  • You have a golden opportunity to land a huge order or win a big bid -- but only if you can bring on board additional staff now, not later (here are some great questions to ask before hiring new employees)
  • You’re getting overwhelmed by a lack of automation in key areas such as accounting, inventory management and project management, and need to purchase new systems so you can do more in less time.
  • You’ve outgrown your space and are bursting at the seams, and if you don’t find a bigger location, you’ll start losing business.
  • Your competitors are flooding your target market with advertising campaigns that are capturing their attention – and you need a way to get them focused on your superior offerings.
  • Your property manager has some good news and bad news: the good news is that the parking lot is finally getting re-built; the bad news is that your rent is going up to defray the costs.

These are just some examples – there are many, many more -- where fast business loans make all the difference. So what’s the problem then? It’s that many big banks and other commercial lenders are anything but speedy. If you need a business loan fast than banks are not an option. Instead of swift and efficient, the application process is long, tedious and complicated. There are a few reasons for this, including:

  • Bureaucratic bottlenecks: believe it or not, but a loan application can pass through more than 20 different people. That means dozens of workflows, dozens of processes, and dozens of opportunities for your application to get shoved to the bottom of a large pile.
  • Too many applications: The Great Recession of 2008 created a huge void in the small and mid-size business lending marketplace, and so there are fewer lenders serving more applicants than ever before. Many of these lenders simply don’t have the infrastructure to process applications on a timely basis.
  • Excessive verification: conducting due diligence and checking everything from credit history to identity is a normal part of any lending process. However, many lenders take an enormous amount of time to verify this information. And as mentioned above, many don’t have enough trained staff in the first place to provide fast business loans.

So, even though fast business loans are available, but not at your bank. As a result of these and other factors, many small and mid-sized business owners find that applying for capital to help address an expected or unexpected challenge is, in some ways, more problematic than the challenge itself! It almost seems as if lenders weren’t partners at all, but adversaries. Fortunately, that’s not how we do things here at Mulligan Funding.

At Mulligan Funding, we take pride in offering fast working capital business loans -- because we know that business owners like you don’t have time on your side. Simply complete our streamlined and secure application form, and within 48 hours we’ll tell you exactly how much funding is available to you, and how much it will cost. And if you’re happy with what you see, you’ll have access to the working capital you need within days -- not weeks!

To learn more, contact us today. Discover why when small and mid-sized business across the country need fast business loans, they turn to the one name they can trust to be a partner, not an adversary: When you're looking for the best lender for a fast business loan, look no further than Mulligan Funding.

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Topics: working capital loans, fast business loans