Use Small Business Loan Calculator When Considering Business Finance Options

2015-04-06

Jeffrey Bumbales

It takes money to run a business. Plain and simple. And sometimes that highly coveted cash is not as abundant as you need it to be.

At Credibly.com, we can offer you a number of business finance solutions to get your the cash you need, when you need it — fast.

 

Working Capital Loans

Sometimes businesses that are otherwise busy and strong can run short on cash from time to time. Working capital loans can quickly solve such problems.

Managing your company’s cash flow is super important, but it can be a challenge sometimes, no matter how smart and savvy you are as a business person. When customer credit card payments take a while to come through, or vendors are taking forever to pay you, having some back-up working capital can be a real life-saver.

Businesses in all sorts of industries can run into situations where cash on hand is crucial. In such cases, small business owners can apply for a working capital loan to cover these expenses.

Unlike most other types of business loans, a working capital loan only covers expenses brought about by existing capital and personnel (e.g. rent, payroll, utilities, etc.). These types of loans are primarily meant to be used until a business is able to generate enough revenue to cover its expenses.

With this type of loan, you can continue your daily operations, even without the ability to cover ongoing operating expenses on your own. Essentially, you are able to buy some time before your own funds are generated through the business itself. Use a small business loan calculator to help in determining how much you can afford for monthly payments.

 

Unsecured Business Loans

You might be interested in taking out a loan for your business, but don’t necessarily have specific collateral that a bank might consider of value. Or, you just might not want to put certain important assets at risk.

A standard bank loan will require businesses to put up specific assets to act as collateral to secure the loan. This way, the bank can lower their lending risk. If there is a default on payment, the bank can then keep the assets that were put up as collateral.

With unsecured loans, no asset value is looked at when the loan decision is being made. In these cases, only the health of your business is looked at to determine if a loan is approved. The existence of business assets isn’t factored in during an analysis of your business’s health at Credibly.com.


Small Business Equipment Financing

For a small business to truly grow, it’s inevitable that additional assets and equipment will need to be purchased. It takes equipment to keep a small business operating at its maximum potential – and that requires money. Perhaps you need an extra bulldozer for your contracting business, or additional ride-on mowers for your landscaping business. To get funding for equipment fast, a small business equipment capital loan can work wonders.

 

Business Line of Credit

A business line of credit can be a highly convenient source of money in an emergency situation. This type of business finance option involves a standing amount of money that you are approved for, which can be drawn from whenever the need arises, as long as the withdrawal amount doesn’t exceed the credit limit.

The funds that are borrowed from the business line of credit are paid back within a certain amount of time, at a previously agreed-upon interest rate. Only the money that’s withdrawn from the line of credit is charged interest, instead of the total credit amount – this is a key difference between a line of credit and a traditional loan.

 

At Credibly.com, we deliver real small business financing solutions to you.

Why should you be turned down for a loan if your business has a proven track record? That’s what Credibly.com focuses on – real businesses driving real success. And we not only applaud that, we also want to help you continue on that path.

If you need access to fast funds to keep your business going strong, contact us to see how we can supply you with the cash you need. Apply for a small business finance option with us today!