The past few years of economic downturn have taken a hard hit on small businesses in South Florida. Capital funding for expansions, equipment repair and replacement and working capital has been hard to get. Traditional sources, like bank loans, have dried up, and the banks that are willing to work with small business owners are setting higher standards and requirements for their clients. If your small business is in need of a capital infusion, FortisCapitalFnding.com may be able to help.
Loans for Working Capital
Between hurricanes, oil spills and other natural disasters, it’s been a tough couple of years for businesses in South Florida. Working capital relies on cash flow, which has been restricted as the tourist trade took a hard hit. If you need cash now for restocking inventory before the summer tourist season or replacing outdated equipment, there are a number of options for working capital loans.
Small Business Loans
You can apply for a small business loan in the amount you need up to $5,000,000. Just like any other loan, you’ll have to provide information on your business, and you may be required to secure the loan with collateral, for example your business’ physical assets.
Merchant Cash Advance
Designed to work with proprietary Fortis payment systems, Merchant Cash Advance may be appropriate for any business that accepts credit card payments. MCA works like a business line of credit, allowing you to draw against the remaining balance and refreshing it when you make a repayment. Unlike loans from traditional sources, the company can look beyond your past credit rating and consider the sustainability of your business in the long run when making a decision on whether your business qualifies.
Accounts Receivable Factoring
A/R factoring is a widely used funding solution in the B2B world. It allows you to sell your pending receivables for an agreed-upon price, giving you immediate access to future cash – and putting the responsibility and work of collecting the money on the funding company. A/R factoring is one of the fastest ways to raise immediate working capital for improvements, repairs and other business needs.
If you're in South Florida, business cash advance loans are a way to get a rapid infusion of working capital to take advantage of an expansion opportunity. If you'd like to find out more, contact FortisCapitalFunding.com for information.
