A: A line of credit allows businesses to have readily available working capital. They can use this capital whenever needed. The business must repay the amount they borrowed, along with any associated interest or fees. The payments are automatically deducted from the business’ bank account.
A: When evaluating a business, both traditional lenders and alternative funders take credit into consideration, but it's not the only thing they look at. Alternative funders consider the overall
performance of the business, including revenue, time in operation, accounts receivable, and business
A: Our lenders provide short-term financing with flexible payment options based on your eligibility,
including biweekly, weekly, and daily payments. While they offer up to a two-year term, most
customers opt for shorter repayment periods, especially for their immediate working capital
requirements. Therefore, many prefer daily or weekly payments.
A: Short-term business loans are versatile and can be used for various purposes, including covering
daily business expenses, buying new equipment, or refinancing existing debt. As a business owner,
it's essential to research and determine which financing option best suits your needs. For example,
while a business loan can be used to purchase equipment, it may not always be the best fit. In some
cases, equipment financing may be a more suitable option.