The Ins and Outs of Bank Turn-Downs
If you ever find your business in financial trouble, you’ll likely head to a bank first for a business loan. Depending on your business credit, how much you’re looking to borrow and your current cash flow, there’s a chance you might be denied a loan. Rather than go back to the drawing board to figure out how you’re going to access a source of working capital, turn to FSW Funding to turn around bank turn-downs.
Quick Access to Cash
Even if you know there’s a good chance you won’t be turned down by going to a bank, considering applying for accounts receivable, also known as factoring, might be a good idea if you want to sidestep the long wait that commonly comes with standard bank financing. Factoring provides you with quick and easy access to cash so you can get back to operating your business. Even better, you don’t have to worry about your credit score being negatively impacted during the application process since accounts receivable financing is more concerned with your customers’ credit rather than yours.
Something else to know about factoring is that it can be used for a number of uses, including: Marketing/Advertising, Hiring, Payroll, and Buying up business equipment.
We Look Forward to Speaking With You
To explore life after bank turn-downs, contact an FSW Funding associate today.