Common Uses for Asset-Based Loans
Business owners choose to allocate working capital in a number of ways. Below, we’ve outlined the most popular ways asset-based loans are used.
Supplies and Inventory
Purchase what you need for your daily operations with an asset-based loan. Orders get fulfilled on time, and you have the resources you need to achieve success.
The pandemic has resulted in increased costs for many small businesses, including health care. Others have seen business slow, causing companies to bring in less revenue than expected. Financing can help bridge your company’s cash flow gaps caused by COVID-19.
Funds can be allocated toward everyday expenses, like rent and utilities. If revenue has dropped and you’re having trouble covering fixed costs, we’ve got you covered.
Growing Your Company
Scaling growth can require you to invest capital upfront. Having additional cash on hand will help you build out your company as you expand.
Equipment and Machinery
Certain industries require special machinery to get the job done, while others require basic equipment to accommodate customers and clients. Equipment financing using asset-based loans makes purchasing new and used equipment possible for every business owner. You can also discuss refinancing options with us to refinance equipment you own over time.