Fueling Success: How Working Capital Drives Business Expansion
Beacon Funding
Founded in 1990, Beacon Funding is an equipment financing solutions provider for US businesses.
In today's dynamic business landscape, having access to flexible equipment financing options can be the difference between seizing a lucrative opportunity and watching it slip through your fingers.
A powerful tool at a business owner's disposal is working capital loans, which can provide the quick funding needed to drive growth and expansion. When you need significant capital quickly, Beacon Funding can help you get the capital you need in no time.
In this blog post, we will delve into the advantages of working capital loans, illustrated by a real-life example, and highlight why partnering with Beacon Funding could be the key to unlocking your business's potential.
Understanding Working Capital Loans
Unlike traditional equipment financing, working capital loans offer unsecured cash that businesses can utilize as they see fit. With a shorter repayment period of 12 to 24 months, these loans are designed to provide immediate cash flow to address various business needs, such as purchasing inventory, covering operational expenses, or capitalizing on unexpected opportunities.
Speed and Flexibility
One of the most significant benefits of working capital loans is the speed at which funds can be made available. Unlike standard bank loans or business lines of credit, which often involve lengthy approval processes, working capital loans from Beacon Funding can be approved and funded within 24 hours, ensuring that businesses have the cash on hand when needed.
Real Customer Scenario
Consider the case of a repeat Beacon Funding customer who was pre-approved for working capital. Initially, he had no plans to use the funds, but during a trip to California to pick up a bucket truck financed through Beacon, he stumbled upon an excellent opportunity. He found trailers being sold at a much lower price than what he typically saw in his home state of Alaska. Recognizing the potential for profit, he purchased the trailers and resold them in Alaska.
The only challenge was that he didn't have the cash available to make the investment. Rather than passing up the opportunity, he contacted his Beacon Funding associate about the pre-approved working capital. Within 24 hours, he received the funds, purchased the trailers, and brought them to Alaska, where he resold them for a significant profit.
Here are the numbers:
The working capital loan provided the cash needed to capitalize on a lucrative opportunity, demonstrating the power of quick and flexible financing.
Advantages of Working Capital Loans
One of the standout features of Beacon Funding's working capital loans is the ability to pay off the loan early and save on financing charges. In the scenario mentioned above, the customer was initially scheduled to repay a total of $230,000 in loan and financing charges. However, by selling the trailers quickly and paying the loan off early, he only paid $3,000 in financing charges instead of the scheduled $5,000, saving an additional $2,000.
Simplified Renewal Process
Beacon Funding offers a streamlined renewal process for working capital loans. Customers can receive the funds in their account in less than 24 hours.
Why Choose Beacon Funding?
Working with Beacon Funding is unique because of its commitment to customer service, responsiveness, and building long-term relationships. Unlike many banks, Beacon Funding recognizes that every business and business owner has unique needs and goals. Their financing associates are dedicated to understanding these needs and providing tailored solutions to help businesses grow and thrive.
Get Started Today
If you want to fuel your business's success with flexible financing options, consider Beacon Funding's working capital program. Visit beaconfudning.com/apply to get started, and mention the working capital program when you apply. Speak to a financing associate today and discover how working capital loans can drive your business's expansion and success.