Running a small or medium-sized business comes with its own set of challenges, and one of the biggest is securing financing. Whether you're looking to expand, invest in new equipment, or bridge gaps in cash flow, access to capital is essential.
Fortunately, various financing options are available, including business lines of credit, term loans, and invoice financing, all designed to help SMBs grow and succeed. Here's a closer look at each option:
Business Lines of Credit: business lines of credit offer flexible funding whenever you need it. With credit limits generally up to $250,000, you can use your line of credit to cover unexpected expenses, invest in new projects, or bridge gaps in cash flow. Plus, with no prepayment penalties or maintenance fees, you can repay your credit line on your own terms.
Term Loans: If you're looking for a lump sum to invest in your business, term loans might be the right choice for you. Loan amounts typically are larger than a business line of credit with fixed interest rates and terms of up to 12 to 18 months. Plus, you can receive funds as soon as the next business day after approval.
Invoice Financing: invoice financing options allow you to turn your outstanding invoices into cash. Instead of waiting 30, 60 or even 90 days to get paid, you can receive an advance of up to 95% of the face value of the invoice upfront. No more waiting for customers to pay or worrying about cash flow.
At GuideRock, we understand the unique needs of SMBs and are committed to helping you succeed. Our financing solutions are designed to be flexible, fast, and easy to use, so you can get the capital you need to take your business to the next level.
Don't miss out on the funding solutions that could help your SMB grow and thrive. Visit our website at www.guiderock.com to learn more. We're here to help you succeed.