The revolving credit line is based on your business’ capability and capacity to meet repayments. Fixed repayments can be structured from 36 to 60 months. You may use the balance paid to extend the period of the loan without changing the amount of the repayments.
While a loan may not be the first choice for a business, it sometimes is the only way for a business to succeed. There are wide number reasons that a business may need to borrow money. Could be to hire new employees on a short notice, make up for payroll during a slow month, advertising purposes, expansion, and growth or more. Whatever the reason may be, every small business will likely need financial help at one point or another.
There can be a few downsides to borrowing money, such as the interest, but all in all the advantages can very advantageous. For starters, it can keep a business from failing. Say an antique shop has a seen a recent slowdown in sales. Perhaps the road construction on its street has deterred the usual passerby from coming into the store.
Speak to a Sparkle Trust Consolidated specialist at (914-240-7331)