Having positive working capital at all times takes a lot of pressure off of small business owners. It allows them to invest in their business whenever and wherever it’s needed the most. Working capital loans can be a great option to meet your business financing needs!
Reasons for Getting Working Capital Loans
Uses for working capital loans are virtually unlimited. They can be used for things like improving cash-flow, paying off utility bills, payroll, rent or inventory. Below are some additional reasons to get a business loan.
- Emergency repairs. Things tend to break at the worst times, especially if you’re a small business owner. Working capital loans can take the pressure off your finances, allowing you to make repairs or replace broken equipment so you can reduce down time.
- Taking advantage of an opportunity. A working capital loan can help you pay for a business opportunity you shouldn’t have to pass up. Opportunities like this might include buying inventory at a discounted rate, or equipment that might reduce labor costs. The benefits may be long-term, but a working capital loan can help in the short-term.
- Seasonal fluctuations. Every business has peaks and valleys throughout the year. Whether you need to take out a loan for inventory, payroll or other expenses during certain downtimes of the year, it’s comforting for business owners to know the option is available.
- Moving business forward. Whether it’s a marketing campaign, expansion, remodeling or anything else to take your business to the next level, a working capital loan can help. Unlike banks, there are no restrictions on the use of funds with this type of loan.
- Keeping business operating. Business owners have to make sure they have enough money to keep their business open. There will be unexpected expenses at times, but working capital loans can help smooth over the rough patches. Having enough capital to survive slow times or slow paying customers is crucial.
When is it Time to Get a Working Capital Loan?
The need for liquidity is higher than it has ever been, but big banks tend to restrict small and midsize businesses and not provide them what they need to be successful.
If you’re put in a position where you may have to pass up a potentially great opportunity because you don’t have enough working capital, then you should consider a working capital loan to grow your business.
Having a reliable source for working capital is critical for businesses and can take a lot of pressure off when the time comes. It gives you positive working capital. Mulligan Funding is located in San Diego, CA and has been in business since 2008. We’ve served more than 50,000 business owners so far. We pride ourselves in being different from traditional banks. We treat you as an individual, rather than just another number. Call Mulligan Funding at 855-326-3564 to discuss your financing options today!