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Small Business Loan Alternative for Working Capital now available in BC and Aberta
Working capital available to non-asset based companies.
"The most frequently cited reason for seeking a small business loan from the bank is for working capital - cold hard cash for inventory, marketing, payroll or other day to day costs involved in running the business" said Steve Clark CEO of Company Capital. Clark went on to say "typically it is the fast growing, young, successful businesses where rapid sales growth usually results in a need for short term working capital to buy more inventory or hire more staff. Traditional lenders usually only provide loans based on assets like new equipment or other leasehold improvements whereas our loan alternative is based on the sales history of the business."
Referred to as a “merchant cash advance” Company Capital provides a cash advance based on future credit and debit card sales.Unlike a more traditional bank loan, there are no requirements to provide business plans or financial statements thereby making the process simple and very quick. To qualify, the business owner needs to provide a record of past credit/debit card sales and has been in business for at least 12 months.
Clark said "most commercial lenders treat small business loans as if they were personal loans to the owner of the business. So regardless of your business idea, growth, and overall perfomance, a small business owner is typically "scored" on his or her personal credit history - if it's not perfect you're out of luck. Our product is based on the sales performance of the business, not the credit performance of the individual owner"
A merchant cash advance from Company Capital provides flexible rates and repayment options based on sales volume, type of business, and client needs. The average advance is typically equal to 1-2 months of sales and is paid back in about 6 months. Repayment is made on a daily basis using a small percentage of credit/debit card sales so, unlike a loan, there is no fixed monthly payment. The repayment process is one of the key advantages of the advance – the daily amounts are small but perhaps more important, payments are variable and fluctuate with the sales trends of the business.
Company Capital has Account Managers in BC and Alberta that persoanlly visit the clients business and work with the owner to develop a flexible program to meet thier financing needs.
Complete details can be foundon the website at http://www.companycapitalinc.com or toll free at 877 595 2346