When you have a business and you want it to grow, you need loan at some point. There are different types of loans, so you have to make your choice after proper research. For small businesses and new startups, working capital loan remains one of the most viable options. In fact, it is often referred to as small business loan because it is most suited for small businesses. However, when you have banks that can forward loans for businesses, why would you need working capital loan?
Why Working Capital Loan Should Be Your Choice?
There are several reasons why you should pick working capital loan over bank loan. Here are a few important ones:
- Bank loans can be extremely difficult to obtain.
- Banks make you go through a very long approval process, which is not suitable when you need cash on an instant basis.
- Banks will require collateral for their secured loan whereas your working capital loan is unsecured loan.
- With conventional bank loans, you might not be able to repay your loan faster due to penalty charges. With working capital loan, you can pay it faster.
- Bank loans are normally very large and thus banks normally don’t forward loans to small businesses. A working capital loan can be a very small amount.
In addition to the points given above, banks will require a bundle of documents from you before you can be approved for loan. In the end, a working capital loan serves your small business needs and keeps your company assets in your hands.
Can Your Business Benefit from Working Capital Loan?
Sure, if you have a startup or a small business with working capital needs, you can go for the loan without hesitation. Any small business with day-to-day expenses and large order fulfillment needs can qualify for working capital loans. In simple words, if you have a small business and your balance sheet shows a huge figure against account receivables, but you need instant capital for day-to-day operations, you should apply for working capital loan. Businesses that are often using working capital loans to their advantage include salons, hotels, motels, restaurants, dental practices, bars, retail stores etc.
It’s worth the time to read the article “10 ways to grow a restaurant business with working capital loan.“
Why Moneck Capital for a Working Capital Loan?
There are many institutions that will forward working capital loan to you, but not all of them work in your best interests. Moneck Capital has a great reputation among its customers for the following reasons:
- Managing working capital with Moneck Capital is both fast and easy.
- Moneck capital can forward small business loans of up to $2500 only.
- When you need to fulfill large orders and you see opportunities of growth, you can go for loans of up to $1,000,000.
- Moneck Capital makes the application and approval process fast so you receive cash in your account quickly.
- You just have to be in business for 6 months.
- Some loans can be obtained with mediocre credit score too.
- Documents required are minimal and easy to arrange.
If you trust Moneck Capital for your business loan needs and consider working capital loan a much better idea than conventional bank loan, here is some information before you apply for it.
Applying for Working Capital Loan from Moneck Capital
- The loan you apply for is unsecured.
- Some loans are based on CC processing whereas some are not.
- Loans are available for US merchants only.
- Moneck Capital works with both, ACH direct debit and payment deductions from credit card.
- Most of the loans can be obtained without origination fees.
- You are presented with multiple repayment options.
- Some loans are available for average credit score too.
- If your application profile is good, you could have the loan customized according to your needs.
If you look at these options, you will realize that it is quite easy to get working capital loan from Moneck Capital and much less of a pain than a conventional bank loan.
4 Easy Steps To Get Funded!
Businesses Trust Moneck Capital
At Moneck Capital, our mission and goal is to help business grow and succeed in their own terms. No matter how tough the economy is and how competitive your industry is, an unsecured financial and business loan can turn your business around and grow faster.
Our working capital loan specialist is standing by, simply apply online and we will help your business grow. Our service stands out from other big known company by streamline the application process, reduce the amount of hassle, simplify the document submission procedure and speed up the underwriting process and increase approval rate.
Moneck Capital understood the business needs and have tremendous respect to the business owner. We are easy to work with. So get your application started today!