Businesses run on cash just as much as they run on credit. In fact, the truth be told, an established company will never face any cash crunch since banks and all traditional lenders are always willing to approve loans as and when established companies need funds. But, the funding procedure is not so rosy for small and mid-sized businesses. And, the situation is worse for start-ups. So, does that mean you should lose hope that you’ll ever make big since banks, most probably, won’t finance you? Well, absolutely not. There are some successful investment firms like Accord Financial that specifically provide asset based loans to budding businesses and start-ups so that everybody gets a fair chance at market survival.
Now, the first question is, what is asset based lending? If that’s what’s keeping you interested as well, then simply read the guide below.
Let’s get started without any further preamble.
Asset based lending like Accord USA asset based lending is a financing solution where the lender (the investment firm) approves loans against your assets – it could be a building/property, payment yet to be cleared for completed orders (accounts receivable), inventory and equipment, and so on. As a result, you’ll always have cash so that the production doesn’t stop. The funds released can be used to:
- Purchase new machinery
- Open new branches in new cities.
- Qcquiring and merging, and in a lot of other ways related to business growth.
That being said, some of the benefits of seeking asset based loans at Accord Financial are given below.
- You’re the Boss of the Funds Released
Accord Financial is not a nosy firm. They won’t boss you around to use the funds according to what they think is more beneficial. They respect your space and offer suggestions only when asked for.
In other words, as long as you’re using the money for the betterment of the business, they do not care how the money is spent. It’s entirely up-to you to decide what’s best for your business to grow.
- You can Apply for as much or as Little Funds as you Need
It’s understood that as a small sized business, you’ll need small funds. So, unlike banks who usually see no profit in approving loan below 10 million dollars, Accord can approve funds as little as 75,000 dollars and even less if that’s what you want.
This, however, does not mean that they do not approve higher funds. They can approve loans anywhere between 1 million dollars to 20 million dollars.
- The Payment Term is Flexible
You want a no minimum term loan? They will provide it.
You want to repay the loan in full before the term ends? They’ll let you after you pay the first 3 installments.
You want to reapply for a second loan? Just pay the first one by 50%, and they’ll immediately release the second one without a delay.
All you all, Accord Financial asset based loans will let you grow without you having to worry about cash crunch. Do check out their website for more details.