If you need to get some cash to cover your business expenses, a working capital loan is a great option, and online lenders often offer the fastest response times and approvals. Read on to learn more about the basics of working capital loans, and to see how you can get a working capital loan from Progressive Business Capital.
What Is A Working Capital Loan?
A working capital loan is a bit different from loans that are taken out to buy assets or equipment, or to do things like expand to a new location. This type of loan is taken out to fund a company’s everyday operations, and usually must be paid within a year or less.
For example, if you run a seasonal retail business, you may need to take out a working capital loan in June to cover your expenses until the winter holidays, when you generate most of your sales and the majority of your profits.
This is an example of a working capital loan. Working capital loans are commonly taken out by businesses with high seasonality or cyclicality, or who may rely on only a few large customers for their income.
Steps For Getting A Working Capital Loan Online From ProBizCap
If you think you could benefit from a working capital loan, Progressive Business Capital is here to help. We work with a large network of lenders who can help you find the right loan for your needs. Here’s how it works.
- Apply online – First, fill out our online application with some basic information about yourself and your business.
- Consult with an expert – Next, you’ll be contacted by a Business Funding Expert so we can confirm your information and get some additional details about your situation.
- Connect with funding partners – We’ll connect you with a funding partner offering great terms and flexible working capital loans. We work with a wide variety of reputable online lenders.
- Sign your loan agreement – Check your loan agreement carefully to make sure it meets your expectations, then sign it to get your working capital loan.
- Get your cash – Your deposit will be sent to your specified bank account right away, and you can use the funding for whatever you need. Then, just prepare to repay the working capital loan based on the agreement you made with your loan provider.
Get Fast Working Capital Funding With ProBizCap
Progressive Business Capital has helped thousands of customers get the business funding they need to keep their operations going. If you need a working capital loan online, our team is here to help with traditional loans and merchant cash advances (MCAs). Apply online now, or feel free to contact us online or give us a call at (800) 508-4532 for further assistance. Our team is always ready to help.