Benefits of A Small Business Loan:
What You Need to Know
If you are a smaller company, there inevitably are times when you find that additional funds could certainly come in handy. There is not necessarily one right time or right reason to start looking into the option of a small business loan.
At First Union Lending, our job is to help you find the cash you need for a variety of undertakings and projects. Our flexible products are designed with smaller businesses in mind. Maybe you don’t have the longevity to qualify for a traditional bank loan, perhaps the revenue isn’t there, or there’s a lack of capital. This is where we can be an integral tool in your arsenal.
So what are some of the things you can do with a small business loan? What are the benefits that your company can reap as a result of affordable and flexible financing programs?
You get the money quickly
Particularly with alternative lenders, there is far less red tape and a much shorter waiting period. So let’s say that you have your eye on new equipment, on hiring more personnel, or procuring better software, you’re not waiting weeks or months. You can have funding in as little as a day in some cases.
You’re developing a relationship with a lender
When you’re in business for yourself, a trusted partner, especially in the financial field, is invaluable. Starting with a small business loan and maintaining a productive working relationship, you are investing in a crucial ally, one that can help you along the way to build and ultimately grow your business.
You get your expenses and data in order
When you do apply for a small business loan, the lender will generally ask for financials, profit/loss statements as well as many other pieces of information. Business owners are forced to really take the time and pull everything together, thus gaining a more precise and comprehensive picture of where everything stands moving forward.
Whatever type of loan product you may be in the market for, we can certainly help. One of our advisors will be happy to review your financial needs and company profile and come up with the perfect business loan solution for you.