By Lou Wallace
Are you positioning your business to be first in line to move when things turn around? The economy, while showing signs of improvement is still sluggish and everyone is still trying to figure out if it has reached bottom. Small business owners are still scrambling to keep their business in the black.
So what happens if your company comes across a deal or contract that is very profitable? The credit crunch is still with us. With Banks continuing to terminate existing lines of credit and business loans and are not making any new loans to business owners, what can you do to position your business to take advantage when these opportunities present themselves?
The answer may be in talking to an Asset Based lender or Factor to set up financing accommodations for your business now. These lenders are still making loans and the unique thing about them is they add no debt burden to your company. You don’t incur any loans to pay back until you have the contract or order to complete. The financing is there when you need it and you won’t find yourself scrambling to find working capital you would need to seize these opportunities.
Performance Funding Group, LLC is a locally owned and privately funded asset based lender who has been providing several different loan products since 1997. Lou Wallace has been working in commercial loans since 1971. Lou Wallace can be reached at 602-912-0200.