Let’s talk project financing again, but this time with a different spin.
Today, we’re going to leapfrog off yesterday’s mention of working capital loans as a form of project financing and explain how, exactly, that particular brand of financing can help you. I’ll break it down into three points.
How Working Capital Loans Can Help
- They’re an effective way to cover your expenses. If you’re replacing your HVAC units, for example, you can use working capital* to cover labor costs, get tools and supplies and—because why not—get your team lunch. Mmm, lunch.
- If you’ve got all that covered, as we mentioned yesterday, you can use it to cover any cashflow holes this huge project may open up. That’s particularly true if you need to temporarily close down your business in order to make the needed changes. You can’t have customers walking into a literal pit, unless your business is actually Pits ‘R Us.
- They can be available on relatively short notice. If you run into a snag along the way or you want to get your project off the ground quickly, turn to working capital. Here at Direct Capital, we can determine if you’re qualified and get you a working capital loan in a matter of days.
The key is to recognize that a working capital loan can get you started, patch holes in the middle or finish up a project if you fall a little bit short in the endgame. With its versatility and quick approval process, it’s the perfect fit for your project.
Will you use working capital loans for project financing? Let us know!
Photo credit to iStock
*Working capital not available in the following states: AK, DE, ND, VT