If your business is growing too quickly for its current capital reserves to keep up, then unsecured working capital may be the answer you’re looking for. But how do you know if this financing option is right for you? Here are five key indicators that can help you decide if it’s time to explore unsecured working capital.
#1: You Have Cash Flow Problems
If your business struggles to stay adequately funded due to delays in customer payments, then unsecured working capital could provide you with access to the cash you need. By freeing up existing cash flow and increasing access to capital, this type of financing can give you the resources you need to continue growing your business without being limited by customer payment delays or cashflow issues.
#2: You Need Business Funding Fast
With unsecured working capital, you can receive your funding within a few business days and as quickly as 24 hours. This makes it the ideal solution for businesses that need funds quickly due to cash flow shortages or upcoming unforeseen expenses. No matter what kind of emergency financing you need, this type of financing is fast and provides the resources your business needs with minimal wait time.
#3: Seasonal Trends Are Affecting Cash Flow
When your business ebbs and flows with the changing seasons, it can be hard to plan ahead for the necessary financing. Unsecured working capital is a great solution to help even out these seasonal trends and provide standardized cash flow throughout the year. This way, you won’t have to worry about making payroll during slow periods or covering unexpected expenses.
#4: Your Customers Are Delaying Payments
One of the key signs that it may be time to look into unsecured working capital for your business is customer payment delays. If you find yourself constantly following up with customers for overdue invoices and pushing back agreed-upon due dates, it could mean you need extra cash to cover operational expenses without relying too heavily on customer payments. Unsecured business loans can provide a great alternative source of capital so your cash flow isn’t totally dependent on customer credit.
#5: Your Growth Plans Require Additional Capital
If you have plans to open additional store locations, launch a new product line, hire more personnel or make any other expansionary moves but don’t have the finances necessary to execute those plans properly, it could be time to look at unsecured working capital. By investing in an unsecured business loan, you will be able to finance your growth plans and position your business for long-term success.
There are many ways to put your unsecured business loan to good use. Here is how some of our past clients have used their unsecured working capital.
So, what’s next?
If this sounds all too familiar, then you’re clearly in need of a little business fuel to reignite your business growth and better manage your cash flow. If you’ve been in business for over 12 months and have sales exceeding R1 million during that same period, you can access up to R5 million in business funding within 24 hours.
So what are you waiting for, apply today and put your plans into motion by tomorrow.