Can you imagine working really hard to make ends meet and cutting costs everywhere to make yourself profitable and your get a registered letter in the mail from your bank demanding their Line of Credit to be paid off within 14 days?
Trucking Company in Texas USA; Bank recently called their Line of Credit due to tightening restrictions. As a result they had to pay off the bank their 1.0mm LOC within 2 weeks of being notified. An internet based Commercial Finance Broker set up the deal and not only paid off the bank within the time period required but also increased the availability of the Line of Credit up to $1.75mm using Accounts Receivable Factoring.
This has happened many times to many different companies in the United States and Canada over the last couple of years. As much as President Obama is working to make funding available to companies for their operations, banks still are contracting their risk threshold and are less willing to expose themselves to risk every day.
If your company has a need of liquidity, and not debt, do your self a favor and speak with a Professional Commercial Finance Broker as they will have the answers your bank will not, and odds are they will not even tell you about the other options that are out there.
Commercial Finance is extremely specialized. It is not like going into the nearest lender to you and asking for a generic flavor-of-the-day Commercial Loan and having it fit exactly what you need it to. Some lenders do Commercial Mortgages with a side of Equipment Lending while others will be really good at getting Equipment Deals done for Trucking companies, but also offer Equipment Financing on restaurant equipment, but are really lacking in regards to their termsThe Commercial Finance Broker will know about this and will be able to package your deal for the best lender for you.
Many Commercial Finance Brokers are current with the most recent changes and offerings on the market today ranging from Commercial Mortgages, Commercial Equipment Finance, Export Finance, Purchase Order Finance, Lines of Credit and Accounts Receivable Factoring. - 31384
Trucking Company in Texas USA; Bank recently called their Line of Credit due to tightening restrictions. As a result they had to pay off the bank their 1.0mm LOC within 2 weeks of being notified. An internet based Commercial Finance Broker set up the deal and not only paid off the bank within the time period required but also increased the availability of the Line of Credit up to $1.75mm using Accounts Receivable Factoring.
This has happened many times to many different companies in the United States and Canada over the last couple of years. As much as President Obama is working to make funding available to companies for their operations, banks still are contracting their risk threshold and are less willing to expose themselves to risk every day.
If your company has a need of liquidity, and not debt, do your self a favor and speak with a Professional Commercial Finance Broker as they will have the answers your bank will not, and odds are they will not even tell you about the other options that are out there.
Commercial Finance is extremely specialized. It is not like going into the nearest lender to you and asking for a generic flavor-of-the-day Commercial Loan and having it fit exactly what you need it to. Some lenders do Commercial Mortgages with a side of Equipment Lending while others will be really good at getting Equipment Deals done for Trucking companies, but also offer Equipment Financing on restaurant equipment, but are really lacking in regards to their termsThe Commercial Finance Broker will know about this and will be able to package your deal for the best lender for you.
Many Commercial Finance Brokers are current with the most recent changes and offerings on the market today ranging from Commercial Mortgages, Commercial Equipment Finance, Export Finance, Purchase Order Finance, Lines of Credit and Accounts Receivable Factoring. - 31384
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