Your business needs working capital to thrive. There’s no way around it. You’ll need to purchase inventory, maintain/repair equipment, meet payroll, pay off outstanding debt, and hopefully even expand. Whether you need extra capital for typical business expenses or unpredictable emergencies, borrowing money for your business is sometimes completely necessary. Whether your business is thriving or looking for some help, a cash advance will benefit you.
If you own and operate a business, you know just how tough it can be. You are constantly working overtime, making tough decisions, and need to make sure your business has enough cash flow to keep it afloat. Plus, with so many unexpected expenses you may find yourself in a situation where you are in need of extra funding.
The Problem With Traditional Business Loans If you’ve ever applied for a loan from your bank, you’ve probably been frustrated with the process. You fill out heaps of paperwork and provide your most intimate personal information to complete your application. Once you’re done navigating layers of bureaucracy, you wait. It’ll take weeks, even months to finally receive a final decision, which for most small businesses is a rejection.
If you’re one of the few small businesses to receive an approval, you’ll be asked to offer up personal collateral. If your business starts to struggle and you fail to meet payments (which thanks to your APR, increase over time), you could lose your house and car. If you decide to take the bank loan anyway, you’ll still have to wait another few weeks or even months to actually have access to the working capital.
Starting a business is an accomplishment, but staying in business is an ongoing challenge which requires dedication and foresight. How you manage your company’s finances could mean the difference between success and failure. A healthy cash flow and access to working capital to cover expenses are absolutely necessary for staying in business. If you own a small business and worry about where your working capital is coming from, Rebel Capital is your solution.