Need Working Capital? Top Reasons You Might Need a Business Line of Credit or Small Business Loan.
At Acumen Connections we offer small business loans to help your company achieve its big dreams. We provide working capital solutions for businesses of all sizes. We offer inventory factoring, business lines of credit, and more. Learn all about these small business loans. We work with businesses in Kansas, and around the nation.
You may be a “small business” but you have big plans. Your business deserves to grow and expand. Acumen Connections, located in Wichita, Kansas, works hard to match you with the best lender for your needs. We help you find the best small business loan rates every time! We can find a business loan that matches your needs. Below we have a comprehensive look at all of the loans that Acumen Connections offers. Keep reading to find out which solution is right for you!
Merchant Cash Advance
A merchant cash advance provides you with an upfront sum of cash. It is a safe, fast, and easy way to get your business the cash it needs. Best of all, how you spend it is entirely up to you. It is your money and you can use it as you see fit.
If your business needs cash, this might be a solution for you. We all know that sometimes businesses find themselves in a situation where they need cash. Sometimes banks will not even consider your request. It can be stressful, but it does not have to be. Instead of getting a small business loan from a bank, you could work with Acumen Connections instead. Best of all, if you need funds now, we can get the money you need faster than a traditional bank!
Paying back a merchant cash advance looks a little different than other loans. Instead of actively making payments on the loan, you provide a slice of future sales. We do not get paid until you get paid. This means that payback is easy. This breaks down the repayment in smaller, more manageable pieces. You do not have to send a large payment on a monthly basis. You do not have to worry about invoices or checks. Instead, you just make small daily or weekly payments until the loan, and fees, are paid in full. It is flexible financing on your terms.
Wondering how it works? Each time your business makes a credit card sale, we receive a small percentage of the revenue, until the loan is paid back in full. You do not have to worry about fast or slow days for sales. The small percentage does not change. You will pay the same percentage of sales even on slow days. If business picks up, you might be able to pay back faster. And no, we do not have a prepayment penalty.
If you accept credit cards and experience trouble with cash flow, this is a solution for you. Companies typically use merchant cash advances to smooth out the highs and lows in their cash flow. You could turn tomorrow’s sales into today’s cash flow. To get started on this process, you can learn more at the end of this article.
Business Line of Credit
Do you have a personal line of credit or even a credit card? A business line of credit works the same way. Your business borrows money, repays it, borrows again, repays it, and continues from there. A business line of credit is one type of business loan that makes the lending process simple. It tends to be more flexible than traditional business loans. Once your company is approved for a line of credit, you have ongoing access.
A business line of credit allows you to borrow up to a certain limit. You do not have to borrow more money than you want and repay interest on the whole amount. Instead, you can borrow what you need and only pay interest on that portion. For example, say you had a credit limit of $100,000. You can use a line of credit to take out a precise amount of money. You could borrow $24,971, and only pay interest on the $24,971 instead of the full 100K. So long as you do not go past your credit limit, you can repay at your leisure. You can draw and repay funds as you need so long as you do not exceed your credit limit or miss a payment.
There are plenty of reasons a business may choose a line of credit. They may prefer having access to funds that they can reuse and repay as often as necessary. They may prefer knowing that if they repay their full balance early, they can save on interest costs. A business line of credit is great for managing cash flow. It can also help with buying inventory or surprise expenses.
Need flexible working capital over an extended period of time? Consider a line of credit with Acumen Connections.
Commercial Real Estate Financing
At Acumen Connections, we offer commercial real estate financing. This type of small business loan can help finance a new business location, investment property, or more. There are many types of business loans with a quick turnaround on repayment. We know that commercial real estate is a long-term investment. That is why the terms for our commercial real estate financing are longer than traditional loans.
We get why businesses want commercial real estate. These purchases tend to be worth more over time. Our commercial real estate loans can help cover several property types and expenses.
The building does not even have to be one that you plan to work out of permanently. We work with real estate investors, too. We offer customized lending options for your commercial properties. We can help you get the funding you need for your next set of offices or apartments. We can also help you with your next industrial, retail, or mixed-use space.
Learn more about the application process towards the end of this article.
Do employees need advance payroll funds? A payroll advance, or paycheck advance, may be a solution. If there is an unexpected expense, which cannot be delayed until payday, a payroll advance can help. This small business loan is a short-term unsecured loan for employees. It can help them cover emergency expenses that cannot wait. A payroll advance is not free money for your employee. It is money that allows them to access their earned wages, up to that point. They could have access to the funds they have worked for without having to wait until the company’s next payday.
Since the employee has already done the work, this makes a payroll advance less risky than other small business loan options. In some ways, this loan is actually easier than others, as well. Unlike traditional business loans, a payroll advance does not have a fixed repayment schedule. We work with your sales level. If you have a slow period, we take a smaller payment. If you have a high sales period, you can pay off your loan faster. This loan does not require a personal guarantee, collateral, financials, or tax returns.
You are probably wondering how much we can offer. We can provide business cash advances up to $250,000! That is not the only good news. We can determine approval in less than 24 hours, and we can have the funds transferred to you in less than a week! An Acumen Connections business cash advance is a great alternative to other small business loans, unsecured loans, loans for business with bad credit, or even secured business financing.
If your business has good credit, that is great! If not, do not fret. New businesses and businesses with bad credit may still qualify for this unsecured business cash advance loan. Skip to the bottom to learn more about the application process.
Inventory factoring helps provide your small business with cash. It works by selling your accounts receivables to a commercial financial company. If you need cash now, you can “sell” the money you are waiting to receive. You get cash upfront from the third party. The third party eventually gets paid by the client. This is a great solution if you are waiting on a client to pay.
Inventory factoring is not the same as a business loan. It is actually a sale. You might be wondering what the term “inventory factoring” means. We mentioned earlier that with this process a store sells an accounts receivable, or an “invoice”, to a third party. That third party is usually referred to as a “factor”. Acumen Connections can be your business’s factor.
Wondering how inventory factoring works? Your business sells an account receivable it is waiting on to a factor. In exchange the factor pays you about 75% of the invoice upfront. Your business has the cash they need. Over time, the customer will pay the factor the amount that they owe. Once the factor has received the funds, they will pay your business most of the remaining amount. The factor will keep about 2% to 6% of the sale. It is the fee to use factor services.
Since factors count on your customers paying their invoices, they are more focused on your customer’s financial status. They typically are not focused on your business’s financial status. Since inventory factoring is not a traditional small business loan, it does not require a business credit check. A factor needs your business to validate that customer’s payment history.
The major benefit of inventory factoring is that your company receives working capital quickly. It might be as fast as 24 hours. Since you have sold the invoice, your business does not assume debt for the money you receive from the factor. To learn more about inventory factoring, give us a call at 800-864-4644 or send an email to firstname.lastname@example.org.
What does the application process look like for our business loans?
Simply fill out our online application to start the process. We will reach out to you with further information. Once we have received your application, and have learned more about your needs, we can find the right solution for your business. We work with our extensive network of lenders to find the best rates! We know that every business is different and that qualifications for loans vary as well. We work hard to find the best deal possible for your business’s needs.