How to get cash flow for your existing small business in Metro Detroit 2018. (video)
Cash flow loans can be obtained despite low credit history and low exiting capital. A small business in Metro Detroit with only a few months of operating history also obtain cash flow loans from LVRG Funding. Lenders for small business cash flow loans do not consider existing assets of borrower, but counts on future cash flow projections. In case of traditional banks, it’ll be nearly impossible to obtain anything if a company does not have enough assets, a very good credit history, or no credit history at all.
Points to consider when determining if a cash flow loan is right for your business:
Will it help you take advantage of inventory discounts? Imagine you have an opportunity to buy bulk inventory at a discount. A cash flow loan can help if you don’t have the money to make the purchase.
Will it help you say “yes” to a job? Say you own a restaurant and are asked to cater a big event in the near future. To jump on the opportunity, you’d need to hire a few more servers, and you don’t have the cash. A line of credit or short-term loan could allow you to say “yes.”
Are you entering a slow period? Another example: You own an ice cream shop and winters are slow. Ideally, you’d budget for this by saving more in the summer months, but a cash flow loan could get you through in a pinch.
Do you have a lot of outstanding invoices? Many small businesses experience uneven cash flow because their customers pay invoices weeks or months after receiving their product or service. If you’re in this situation, a short-term small-business loan could bridge the gap, but consider invoice financing instead.
Short-term cash flow loans are best used for short-term projects that would divert money from day-to-day expenses but ultimately grow your business, like taking on a big contract with a major company or adding extra seating in your restaurant. If you need cash fast, a cash flow loan may be your lifeline.
For starters, we are a local small business funding company with a vested interest in Metro Detroit Small. We are an established small business finance company, backed by local finance professionals with an extensive track record of success. We combine data-crunching software with a human touch to come up with affordable funding solutions that best fit your needs. LVRG is a team of the right people, working with the right data, getting you the right-sized funding for your business. We know that time is of the essence when it comes to obtaining financing and our quick closing time will ensure that you get the money you need, when you need it. Headquartered in Detroit's Historic Ford Building, we are a “local” finance company dedicated to helping the local small business community thrive and grow. Give us a call today (855) 998-LVRG, we're here to help!