For entrepreneurs in Annapolis, MD, getting access to affordable working capital solutions can be challenging. Most traditional lending channels have high requirements to get approval for business loans. Even then, most business loans follow a “one size fits all” program, which is not always best for new and small businesses. Additionally, traditional loans can compromise credit ratings and place debt on the balance sheets. Fortunately, there are a number of working capital solutions for Annapolis, MD entrepreneurs which are accessible, affordable, and debt-free.
Purchase Order Financing
Purchase order financing is one of the best working capital solutions for Annapolis, MD entrepreneurs who want a larger market share. Purchase order financing is an advance in working capital for new and growing businesses that want to take on larger customer orders, while also maintaining regular operations, all without placing a strain on cash flow or internal resources. The advance in capital is used to cover large orders, and the cost of the financing is rolled into the customer’s invoice. When the customer pays in full, the financing is zeroed out, and the remainder is delivered as revenue to your business. This is one of the best debt-free working capital solutions for Annapolis, MD entrepreneurs who want to position themselves for growth quickly in a competitive marketplace.
Merchant Cash Advances
Merchant Cash Advances are great working capital solutions for Annapolis, MD entrepreneurs who need flexibility without taking on additional debt. Merchant cash advances, much like the name implies, are an advance in working capital which Annapolis, MD entrepreneurs can use for everything from hiring new workers to restocking inventory and supplies, and even paying off current financial obligations. Unlike a traditional business loan, a merchant cash advance does not have a strict payment schedule, nor does it compromise credit ratings or place debt on the balance sheets. Instead, for every credit card transaction a customer makes at your business, a small percentage of the sale goes toward repaying the merchant cash advance. Because of this, Annapolis, MD entrepreneurs can have access to the working capital they need, without worrying about budgeting for monthly payments on a traditional loan. Merchant cash advances are one of the most flexible working capital solutions that Annapolis, MD entrepreneurs can find.
Invoice factoring is a working capital solution which allows Annapolis, MD entrepreneurs to eliminate the lag in customer payments. Annapolis, MD entrepreneurs with open invoices of 30 days or longer frequently feel a strain on cash flow due to the lag in payments. Invoice factoring allows Annapolis, MD entrepreneurs to convert open invoices into cash within 24 hours. This gives business owners a centralized source of immediate revenue, instead of having to track payments across multiple customer accounts. Invoice factoring is quickly becoming a mainstay for Annapolis, MD entrepreneurs in all industries, regardless of business size. Best of all, invoice factoring is debt free, and does not compromise your company’s credit ratings in any way.
Where Do Annapolis, MD Entrepreneurs Get The Best Working Capital Solutions?
At Abel Commercial Funding, we are committed to providing the best working capital solutions to Annapolis, MD entrepreneurs. If you would like to learn more about purchase order financing, merchant cash advances, invoice factoring, or our wide array of other options, contact our offices today.