Benefits of a Business Loan:
Large amounts available
If your business really needs the money to expand, this type of loan will be perfect.
Funding is normally a quick process
If you meet the qualifications, approval and funding is normally a quick process
Can help build credit
Business loans are an excellent way to build credit!
What are the Benefits?
One of the biggest, most obvious, benefits of a business loan is the ability to borrow large amounts of money in order to reach your company’s goals. However, you can select a long repayment term, making your bigger investments much more affordable. Once you develop a regular payment schedule, you can build your business credit and seek further expansion for your company. There is no limit to your growth.
Business loans can be very high amounts, so it’s important to have good personal credit
If your business has the revenue to pay off the loan, then this may be the loan for you!
You have good business standing
This type of loan is perfect for businesses who want to grow and need some extra cash to do so!
How Does a Business Loan Work?
Your business loan will work a lot like a car loan, student loan, or mortgage does. First, you borrow a sum of cash up front for a specific reason. You will discuss this reason with your advisor and they will determine if this claim is valid. Then, you repay the sum of the loan over time with fixed payments — again, you will discuss with your advisor on which payment plan is best for you and your business. Keep in mind that all business owners have different ranges for what they can afford. Loans range in size from $50,000 to $5 million, and percentage rates can start at around six percent.
Business Loans are good for:
Businesses that are expanding
Businesses that want to invest
Contact Merchant Flow Financial to learn more about our business loans and how we may be able to assist you. Simply tell us what your vision is and we can discuss your business’s future. We look forward to working with you.