The need for working capital can often place businesses in an awkward position, especially if loans are not a desired or feasible option. Funding operation out of pocket can quickly…
For local business owners, finding adequate working capital solutions in Bethesda, Maryland can be a challenge. Bank loans are not always a viable option, for a number of reasons. Going beyond that, finding Bethesda, MD working capital solutions that are debt-free may seem like an outright impossibility. The reality is that many local small businesses are leaving traditional bank loans behind in favor Bethesda working capital solutions which promote growth and offer flexibility, all without placing debt on the balance sheets.
The Struggle To Get Bank Loans
When local entrepreneurs are seeking working capital in the Bethesda area, banks usually have the solution. However, over the past few years alone, banks and other traditional lending channels have raised their requirements, making it prohibitive for Bethesda, Maryland business owners to secure the funding they need. Sometimes, small business owners reach the funding limits offered by their banks, which leads to delaying growth projects, and forcing entrepreneurs to seek other solutions or financing their operations out of pocket. The choices outside of banks are not always ideal either. Cash advances offer very limited amounts of working capital with extremely high interest rates. So where can local businesses find working capital solutions in Bethesda, MD?
Enter Asset Based Lending
Asset based lending provides a source of working capital to Bethesda area business owners, without the restrictions of either bank loans or cash advances. Asset based lending creates a revolving line of credit, giving local businesses a source of working capital that can be replenished as it is used.
How It Works
Asset based lending starts with an analysis of fixed assets within the business. Machinery, equipment, vehicles, receivables, real estate, and more are appraised. The value of those items is used to create a revolving line of credit. Because asset based lending is a line of credit and not a loan, there is no debt placed on the balance sheets, and credit scores are preserved. As the business grows, the working capital available through asset based lending also increases to promote growth and long-term success. For local businesses, asset based lending has provided the Bethesda working capital solutions entrepreneurs are seeking.
Get The Best Working Capital Solutions in Bethesda, MD
CNH Finance specializes in asset based lending for the Bethesda, Maryland area. Instead of weighing down your business with debt from loans, or taking out cost-prohibitive cash advances, talk to the experts at CNH Finance. We offer working capital solutions that provide the financing businesses need, with the flexibility entrepreneurs demand in today’s competitive marketplace.