Don't Wait Until the Last Minute to Get a Business Loan

Don't Wait Until the Last Minute to Get a Business Loan

So many business owners are apt to wait until their cash flow is all but diminished before applying for any sort of business funding. Sure, your profits may be up, but that doesn't necessarily mean you have the money on hand to cover your day to day expenses. This is cash flow, and if you wait until it's essentially gone, then you're putting your business into a problematic position.

Anticipation is key here. The best time to look into getting some working capital maybe when you don't actually need it. You should be able to predict fairly well your cash flow trends. Are there certain times and/or seasons for example when you can expect money to dry up? If this is the case, apply for funding ahead of this anticipated slower time and this way you won't be frantically working to scrounge up available cash.

Failing to Leave Yourself a Financial Cushion

Another scenario may involve a major purchase. Let's say for instance that you desperately need a new piece of equipment in order to conduct your business. You purchase this, but at the same time, you know that money from invoices won't be coming in for another 40-60 days. This could put you in a definite bind. You really do need to be able to look ahead and have the foresight to understand when your business is, in fact, going to require an infusion of extra cash.

At First Union, we offer all types of lending products to help small businesses like yours get through tougher times, go through an expansion project, even hire on new staff. Turnaround times, from application to funding, can be as little as a couple of days. We would love to discuss your cash flow needs so that you can continue on your path to success. Call today!

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First Union Lending LLC is a dually licensed Lender/Broker with its main offices located at 4900 Millenia Blvd First Floor Orlando, FL 32839. First Union Lending LLC and its ads are meant for continental United States, including Alaska and Hawaii small business owners. Business Loans offered by First Union Lending LLC have varying rates and terms that can range from 30 - 120 payments and all rates and terms are based on eligibility of the business and its owners. The actual terms are based on credit, business history, industry, amount and terms. As an example, a $5,000 loan paid over 5 years at 8% would have a total repayment of $6,082.92 over the life of the loan. We use the latest encryption to protect sensitive information transmitted online, as well as run our own secure server network to ensure your information is protected offline as well. California loans made pursuant to the California Financing Law, Division 9 (commencing with Section 22000) of the Finance Code. All such loans made through VBJ Consulting, LLC, a licensed finance lender/broker, California Financing Law License No. CFL#60DBO78163

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