Yesterday, we talked a little bit about the brutal rise in gas prices and how it’s affecting small businesses. Today, we’re going to talk about one practical solution we didn’t touch on yesterday.
The beauty of a working capital loan, as we’ve discussed before, is that it can be used for almost anything and can at least temporarily solve your cash flow woes. There’s also a relatively short application process without a tiny Everest of paperwork, so you can jump on that particular bandwagon right now.
Now that I’ve trumpeted the product, here’s how working capital can help you make it through this time of crazy gas prices.
The Advantages Of Working Capital Loans
- First, there’s the cash flow. Working capital can help you protect your money, even if you’re spending an unreasonable amount on filling up your tanks.
- When you’re pinched by a sudden jump in prices, you can use working capital to get additional funds that will help you tackle other projects and handle other initiatives that would otherwise have to be put on hold while you pay for your company’s vehicles.
- Using working capital to buy inventory now can save you a lot. In case you hadn’t noticed, rising gas prices tend to lead to a jump in prices on all sorts of good and commodities. Buying now, before those prices can rise any higher is a smart move.
At least in the short-term, it looks like gas is only going to get more expensive. One option is to just ride that out, of course, but your average small business can’t usually afford to shell out couple hundred dollars more a month, especially if their business is heavily predicated on making deliveries or traveling.
So that’s why you should be sure to check out Direct Capital’s working capital programs today. It just might put out that figurative gasoline fire.
Photo credit to iStock.
*Working capital not available in the following states: AK, DE, ND, VT