Working capital loans* can take care of a lot of your business needs. I would argue that as far as business loans go, they’re about as versatile as you can possibly get.
There’s another advantage to working capital loans that tends to fly under the radar a bit, one we touched on briefly in our post about the four most common questions surrounding such loans. It’s how quickly you can get that loan approved.
If you have a need for speed, Direct Capital can get you the money in a hurry. In fact, barring any skeletons in your credit closet that are disqualifying, you can usually get a working capital loan from application to approval and the funds in your account in just about a week. That’s truly remarkable turnaround time. Heck, I’m lucky if I do the dishes in a week.
This makes it relatively easy to execute on immediate needs—say your nice, expensive dump truck bursts into flames and you have to drive it into a nearby lake to put it out—and great deals that you just can’t resist. Many customers of Direct Capital do exactly that, using the loan to purchase inventory at an outrageously cheap price while the sale is on. You can also keep your cash flow intact while you pay the loan back over the course of several months, giving you a nice bit o’ flexibility.
Did we mention the paperwork is minimal? Because seriously, you’ll fill out about as much paperwork buying a burger at McDonald’s.
Of course, Direct Capital isn’t the only company offering working capital loans, and you’ll want to explore your options. But as always, I do urge you to give us a call and see if we can help you out.
Does the speed of working capital loan approval make you any more likely to go after one?
Photo credit to iStock
*Working capital not available in the following states: AK, DE, ND, VT