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First Working Capital Group Small Business Loan Review

Anne Miller

Anne Miller

Senior Author

Anne Miller

Senior Author

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First Working Capital Group Small Business Loan ReviewFirst Working Capital Group is the nation's leading and most trusted source for small business funding solutions. They try to specialize in assisting companies in need of business loans, ongoing lines of credit or merchant cash advances, First Working Capital has a complete portfolio of financing services available.

Understanding Your Loan Options

One of the loans that First Working Capital offers is an equipment loan that takes the form of a sale to Working Capital of your equipment, which they lease back to you to allow you to use your existing equipment as collateral. We buy your equipment and lease it back to you – and when all the payments are made you own the equipment again. They also offer an equipment loans for start-up businesses through their leasing program.  A growing business often faces the dilemma of limited cash flow and the need to add equipment. Leasing can put the equipment to work for you with real cash flow advantages and without major capital investment. They will lease virtually any type of equipment, including software and installation.

A second type of loan offered by Working Capital is one called a merchant cash advance for  “bricks and mortar.” They present the loan as avoiding most of the impediments associated with bank loans. A bank approval is based on securing financing with collateral and a detailed business plan – as well as personal credit and extensive history of operation. With a merchant cash advance, the client can receive unsecured business financing and avoid guidelines usually tied to traditional business loans. Funds can be used for any of your business needs, including remodeling or expanding, increasing cash flow, purchases equipment or supplies and paying taxes.

Speed of Implementation and Loan Duration

These loans are certainly a great deal quicker to acquire than your traditional bank loan. This is a company that sets itself up as the alternative to the long and involved bank loan. They usually ask for a year’s worth of business assets to assess your creditworthiness, as well as proof of your credit card receipts over the last six months or one year for seasonal businesses.

Fine Print and Final Thoughts

Most small businesses rely on lenders to provide the capital they need to either open a business, enhance their business or to finance capital improvements. Without loans, many small business owners would be unable to realize their aspirations of starting a company or expanding operations.

Anne Miller


Anne is a Senior Author for SBL. She began her career as an independent consultant for local businesses after graduating with a BA in Management. Since that time, she’s expanded to writing as well as consulting to spread helpful knowledge to small business owners across the country.

 

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