Operating Loans up to $500,000
No Collateral Necessary
Approvals Mainly on Financial Merits of Business
Loans on Receivables
Traditional Business Loans
MCAs (Merchant Cash Advance)
● Funds Available in as little as 24 Hrs.
● Personal Credit NOT a Major Factor
● No Fund Usage Restrictions
● Flexible Payment Options
vs. Your Bank
● Funds available in weeks or months
● Personal Credit IS a Major Factor
● Use of Funds can be Limited
● One Payment Option
Top 3 Misconceptions of Working Capital
“I Don’t Have Collateral” or “I Don’t Want to Put Up Collateral”
Many do not realize that getting a working capital loan through a company like Paramount Payment Systems is simple. Unlike traditional bank loans that require collateral, a Working Capital Loan does not. It is mainly based on a business’ cash flow. Showing that the business is making money is key, and it alleviates a lot of stress of having to tie up property or assets.
“I Will Not be Approved because of My Poor Credit” or “My Credit is Perfect, I Will Be Approved for any Loan”
Although the working capital industry does approve around 65% of applicants compared to traditional banking’s 20-30%, there are still requirements to be met. They are just different. When mainly focusing on the financial merits of a company rather than personal pitfalls of the signer, a whole new world opens up.
“I Could Use Funds but I Can’t Wait Weeks or Months for Approval”
Many apply for traditional bank business loans, only to find out months later if they have been approved and when funds will be available; generally 60-90 days. With a Working Capital Loan through a company like Paramount Payment Systems you can receive funds in a significantly shorter amount of time, even as little as 24 Hours in many instances!
© Copyright 2017
Paramount Payment Systems