Working Capital Loans for Small Business – How to Find the Best Lending Partner

Working Capital Loans - 3 Min Read

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Every business owner realizes the importance of having working capital loans for their small business. There are many reasons why a business owner needs small business capital. And most of the time, they need those working capital loans for their business quickly! Because the need for business funding is so great, there are a plethora of banks and alternative funding companies offering small business capital loans.

Business owners should take the time and effort necessary to research and find the best working capital loan for their small business. If you’ve been denied small business working capital loans in the past, it can be tempting to just accept any lender that approves you for a loan. However, not doing your homework and studying the companies reputation could be detrimental to the long-term viability of your own business. Online reviews are a great way to initially evaluate a company. See our Mulligan Funding Reviews to see what our clients say about us!

Here are some important characteristics that you should look for in a lending partner when you need to secure small business capital.

Choose a lending partner that has your best interest in mind

Choose a working capital lending partner that not only works with you, but is genuinely interested in your long term success. When you obtain small business working capital loans, you want to feel like your lendind partner has your best interest in mind. Also, be aware of whether you are working directly with the company providing the funding or a broker. A common practice among brokers is to get the largest working capital loans possible for the small business clients they represent. Although that may sound like a good thing, often times the amount is much more than was needed by the business owner. And ultimately, these larger loans end up placing a huge burden on the business. Dealing with a broker can also result in your credit report being run several times, unnecessarily lowering your credit score.  

There are multiple loan options available to consider

You may only need one type of loan for your business now, but it doesn’t mean you won’t need another type in a few months or years. Consider a company offering multiple types of small business working capital loans. This way, you know you’ll always have the small business capital you’ll need to take care of both minor and major expenses, especially if they’re unexpected. Mulligan Funding sets the standard with our multiple options available for business owners to obtain small business capital.

Collateral versus no collateral

Most banks require some sort of collateral before they will approve you for a small business working capital loan. However assigning collateral to your working capital loan can severely restrict a small business owner from growing their business in other ways because that collateral is tied up. This is one reason that working with a more personal and flexible lending provider should be your first choice when searching for small business capital. While some small lending partners still may require collateral, Mulligan Funding doesn’t need any collateral to approve you for the small business working capital loan that you need. 

Personalized Service

Obtaining a working capital loan for your small business is an important step. There are many lenders offering small business capital but not all are created equal! One of the most important factors is the level of initial and ongoing education, help and support you receive from the lender that you ultimately choose.

Although most funding providers offer similar terms and conditions for their working capital loans very few offer what we at Mulligan Funding consider to be essential for our clients, a trusted relationship.

From the moment you engage with our company looking for small business capital, we assign a dedicated financial specialist to educate you about our products, answer any questions you may have, and assist you to obtain the funding that you need. But our personalized service doesn’t stop there. Once you’ve become a valued business partner of ours, that same specialist will be there when you need assistance in the future. You’ll never be forced into a cold customer service environment where no one knows your business or your name!

Mulligan Funding,is based in San Diego California although we service clients across the nation. We enjoy working closely with our clients to ensure the success of each business we serve. Since 2008, we’ve provided access to over $100 million in small business capital for more than 50,000 clients. We want you to feel comfortable working with us, so be sure to

Call Mulligan Funding at 855-326-3564 to discuss your financing options today!

The information shared is intended to be used for informational purposes only and you should independently research and verify.

Note: Prior to January 23, 2020, Mulligan Funding operated solely as a direct lender, originating all of its own loans and Merchant Cash Advance contracts. From that date onwards, the majority of funding offered by Mulligan Funding will be by Loans originated by FinWise Bank, a Utah-chartered Bank, pursuant to a Loan Program conducted jointly by Mulligan Funding and FinWise Bank.