A working capital loan is a loan to support the day-to-day growth needs of the business: payroll, hiring more employees, expanding the business, remodeling, doing more marketing, buying equipment, etc.

Business owners are always looking for growth, improvement, and long-term stability, however, there are different situations where business owners need a little boost to cover day-to-day business needs or in emergency situations.

WHAT TYPES OF LOANS EXIST FOR WORKING CAPITAL?

Capifinders has 3 different working capital products, which are the best financing options to meet the needs of your business.

BELOW WE SHOW THEM TO YOU:

Term Loan:

A short or medium-term loan is a type of loan that supports a business need, ranging from 6 to 18 months. They provide quick capital when your cash flow is low, with shorter payments than traditional loans.

Fixed frequency and fixed payment with the annualized rate (APR), daily and weekly payments are handled.

Line Of Credit : 

A line of credit is a type of financing called revolving, it means that you only pay what you use and once you have paid it you have it available again. You can manage the amounts and terms in which you use it, paying capital cost only for the amount and the time you use it. 

Monthly payments are handled with an annualized rate (APR).

Commercial Cash Advance:

A commercial cash advance is a type of financing that is not constituted as a loan but as a purchase of a percentage of future sales of a business. In exchange for a cost or price that the lender establishes based on the risk level of the business owner.  

It is a simple interest rate with daily or weekly payments

WHAT DOCUMENTS DO I NEED TO APPLY FOR A WORKING CAPITAL LOAN?

Required documentation:

• Signed ID

• 3 recent and consecutive business bank account statements

• Signed application

WHAT ARE THE QUALIFICATION REQUIREMENTS?

• The business must be legally incorporated. 

• Must have at least 6 months in business

• Must have a minimum credit score of at least 550 points

• Must have a monthly income of at least $10,000 (in bank deposits)

Capifinders seeks to help business owners have easy access to financing based on their needs. This is why the requirements are minimum as well as the documentation.

Keep in mind that applying with us:

• Does not affect your credit score

• You can have access to capital within 24 hours

• There is no application fee

• The cost of capital is 100% tax deductible

•  No collateral or personal guarantee required