How Working Capital Loans Can Work for You
How to Apply
The process of applying for funds to cover capital business expenses is simple. If you’ve been in business at least one year and have $100,000 or more in annual sales, you can get started right away.
What Customers Are Saying
Cheryl Dailey, Owner
Master Handyman, LLC
Focusing its business on providing handyman services to commercial enterprises in Cleveland, Master Handyman looked to secure a working capital loan to cover key expenses and allow them to hire new staff to foster growth. They wanted “real employees, not just day laborers”, and working with National Funding gave them the cash resource they needed to make it happen.
Craig Hart, President
Smyth Electrical Services
As the business entered a period of expansion, having the reliability of available cash was critical to alleviating the stresses that growth can cause. Being able to rely on National Funding's small business loans was the peace of mind that helped the head of this small business rest easy.
Why National Funding?
Nobody provides a more personalized approach, with experienced Loan Specialists to guide you
every step of the way and answer your funding questions. Our process makes getting the money you need to cover business expenses easy and simple.
Small Business Resources
A business loan can help your business reach new milestones. You know you can use loan funds for inventory purchases or to pay an unexpected tax bill. Capital loans can also allow you to explore new marketing avenues or upgrade outdated sales software. Explore the resources below to learn more about how a business funding can help you succeed.
Working capital is the money you have on hand for your business’ daily needs. Sometimes, however, you’re waiting for receivables and suddenly money is tight. A business loan may be a good solution. Check out this blog on the ins and outs of loans for cash reserves. With business financing, you can make your money work for you, and not the other way around.
When you’re deciding how to use business funds, you should consider both the things you need to keep your business running and ways to promote the growth of your business. By knowing how you wish to use business capital, you can begin to calculate how much you might need to reach your business goals. This article can help you learn how to determine your working capital needs.
You’ve come up with the perfect marketing campaign for your business and you’re seeing great results. What happens when your allocated money for the campaign runs out? Unfortunately, the success of the campaign might come to an untimely end if resources dry up. This blog post shows you how business loans can help you extend the life and success of your marketing campaign.
As you look over your yearly, quarterly, or monthly business financials, you notice exciting information: your business has secured great profits! Deciding how to use this money, from purchasing new equipment to saving it for a slow period, is a big decision. You might even look at taking out a loan to help elevate your business to the next level. Check out this post to help you look at different options for when your business is profitable.
FAQ: Working Capital Loans
Getting cash to put towards business expenses can be confusing. You have to consider what avenue works best to secure funding for your business. Lots of business owners just like you have questions about funding options. Below are some of the most common questions business owners have about getting a loan for cash needs.
Many business owners assume getting capital loans is a long, drawn-out process. Luckily, it doesn’t have to be that way! Alternative lenders like National Funding provide loans for businesses with easy online applications and quick response times. In fact, you could see your loan application approved in as little as 24 hours.1.
Most definitions of working capital include cash. This is because business capital is your current assets minus your current liabilities. Cash, like the money you get from a loan, plays an important role in running the current operations of your business.
Your business’ cash reserves and assets can give you a great snapshot of how well you are using business resources. If you have a lot of assets, including cash, inventory and accounts receivable, and only a few liabilities, your business is probably in a good place financially. Sometimes, however, you have to wait for a customer to pay an invoice or you need to purchase new inventory and don’t have the cash. That’s where financing solutions can help your business bridge the gap between cash on hand and expected receivables.
You can finance your business’ cash needs through business loans. Loans basically give your business the cash it needs now to purchase inventory, pay invoices or continue a marketing campaign. By financing your cash needs, your business can get what it needs to grow and thrive right now.
Ratings & Reviews
With 20 years of experience helping business owners get the cash they need. We can help you find the right financing solutions to get capital for small business needs as they come up.
True to our mission, we encourage you to read the following policies and learn how they affect you as a client.
(1) 24 hours:
Fast approvals and 24 hour funding subject to receipt of required documentation, underwriting guidelines, and processing time by your bank. Funds are deposited into your business checking account as soon as the next business day after approval and acceptance of terms.
(2) Early payoff discounts:
National Funding offers special opportunities for its customers to terminate contracts early and receive a discount in the process. Equipment Finance customers who pay off the total remaining balance early, at any point during the contract, will automatically receive a 6% discount off the total remaining balance. Working Capital customers who pay off the total remaining balance in full within the first 100 days of the contract will automatically receive a 7% discount off the total remaining balance. We do not currently offer a discount on our lease contracts. Customers must pay off the balance in full, be current, and in good standing to take advantage of the discount within the time parameters.
(3) Automatic payments:
Loan payments are withdrawn via Automatic Clearing House (ACH) Monday through Friday excluding bank holidays.
(4) Wide variety of payment options:
- Equipment Financing: payments are remitted monthly with terms of 2-5 years
- Working Capital Loan: payments can be remitted daily or weekly with terms of 4 months up to 24 months
(5) Potential Tax Savings:
The Section 179 Tax Deduction allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. Meaning, if you buy (or lease) a piece of qualifying equipment, you can deduct 100% of the purchase price from your gross income. You can secure the equipment, tools, and technology you need, while also taking advantage of significant tax deductions - up to $1,000,000. Consult your tax professional for more details.
(6) Guaranteed lowest payment:
Pursuant to the terms and conditions specified in these Rules and Restrictions of the Guaranteed Lowest Payment, National Funding guarantees to provide the lowest payment on equipment leased through National Funding, for lease terms from 24 to 60 months, or to pay $1000 towards qualifying executed leases. Lease payment comparisons must be based on a lease in excess of $10,000, for approved equipment, and with the same terms and conditions as those offered by National Funding within seven days that the National Funding terms are issued. To be eligible, customers must provide a competitive lease quote without contingencies, and vendor invoice, and in the name of the lessee within seven calendar days of the date National Funding issues its terms. Guarantee only valid on competitive equipment leases. Equipment finance agreements do not qualify.
In the event that the monthly lease payment amount from the competing lease company or bank is lower than the monthly payment that is being offered by National Funding for the same equipment and pursuant to the same terms, National Funding will verify the validity and accuracy of the competing leasing company’s or bank’s payment options, terms and the vendor quote. National Funding has the option, in its sole discretion, to either beat the competing leasing company’s or bank’s monthly payment rate, or pay $1000 to the lessee. The lessee must provide National Funding with the competing company’s or bank’s signed lease agreement with payment terms/options, and take delivery of the equipment. Payments will be made within 30 days, and lessee is responsible for any taxes.
The Guaranteed Lowest Payment is available to both new and established customers of National Funding. This offer is valid for new lease applications only. The Guaranteed Lowest Payment is not retroactive — a previously funded equipment lease with National Funding is not eligible for the Guaranteed Lowest Payment. Only non-contingent offers of lease terms and payment are eligible. Offers made to lessee that include subsidization by manufacturers and/or vendors will not be considered in comparing competing offers.
The Guaranteed Lowest Payment may be discontinued at any time without notice.
To participate in the Guaranteed Lowest Payment program, if you have a lease agreement and vendor quote which you believe will qualify for the program, contact your National Funding Lease Manager.
(7) Terms and Conditions apply:
This is not a guaranteed offer of credit. Loans subject to lender approval. Approval amount is based on eligibility determined by information obtained from Dun & Bradstreet. Actual eligibility may vary. Restrictions may apply. Application is subject to approval by the lender and is based on factors such as business type, time in business, annual sales, average bank balances, personal credit and other variables deemed relevant by the lender.