Many people think of financing to be very rigid. They think of rejected loan applications and approvals that are hard to come by. But today, financing options have become more flexible. So, you can find a solution as per your needs. Whether you are considering business finance to resolve cash flow issues, boost company growth or enhance your working capital, there are many finance options. Today, business loans aren’t the only support option for small and medium businesses. You can find flexible financing options wherein you can work with a lender who offers after-hours credit approval so you can discover solutions for your clients quickly and feel more confident. Such a lender also offers a detailed portfolio of loan solutions appropriate for various companies in different industries, along with interest rates and loan terms that meet the distinct needs of your client.
What does Flexible Finance Means?
Flexible finance solutions are not the same as standard bank loans. These are given by alternative finance providers who can customise finance to your organisation’s requirements. Instead of providing one-size-fits-all finance solutions, their solutions are geared toward meeting your unique requirements.
They adapt the repayment options and rates to make the ideal finance solution. Finance providers can also give finance for specific needs like to fund a bigger order or provide advanced cash on unpaid invoices. Once you enter into a contract with them, there is still more room for flexibility. You can ask them to make changes to the agreement.
What Are Some Flexible Finance Solutions?
These flexible financing loan solutions have flexible lending terms. These solutions include the following:
- Flexible loan solution – You will get fixed interest rates for your loan time and speedier short term solutions.
- Residential loan solutions – You can use these loan solutions to refinance or buy a residential property.
- Flexible commercial loans are ideal for those who want to provide the client solutions they need to expand their portfolio.
- Unlimited cash for any purpose – You can get a speedy settlement without jumping through unwanted hoops.
The flexible solutions allow you to gain access to some of the best rates currently on the market. You can submit deals instantly and be confident that you have covered all the needs of your client. There is also no hidden discharge fee. The policies are easy, and the costs get disclosed upfront. You can rely on reasonable repayment and service.
Some Flexible Funding Options
- Equipment financing is a loan that can be used for particular reasons, like purchasing any equipment you require for your business. This loan has stringent repayment terms. However, you can use the money flexibly for the needs of your business.
- Accounts receivable financing – This can enable you to meet payroll while you are waiting for your receivables. The capital amount you can access is according to the amount of capital you need to collect from your clients. It does not have a rigid limit. The greater your accounts receivables, the higher capital you can access.
- Line of credit – In this, you only need to pay interest on the amount you are using. It gives you good flexibility in drawing and repaying capital. If you require a flexible funding plan, a line of credit is a suitable option.
- Merchant cash advance – It refers to a lump sum of cash that’s repaid via weekly or daily withdrawals as per your future earnings. If you require capital fast and can afford the repayment, this option is right for you.
You must consider your business and industry when finding a good lender. Your financing plan should have room to account for unexpected losses or gains.