All catering companies start with a lot of potential for growth. However, finding the capital to achieve that growth can be a challenge. Many catering companies find themselves buried in debt by taking out loans to extend their reach, and end up going under within the first two years. Fortunately, there is a debt-free solution designed for catering businesses to obtain growth quickly in a competitive field.

What Do Catering Companies Need To Fill Requests?

Catering companies require much more than a small team of people with connections to local suppliers. In fact, most modern caterers utilize require a number of tangible assets to successfully meet the requests of their clients. Appliances to make food. Vehicles for delivery. Tables, furniture, tools , and machines to create the proper setting. Some caterers even own venues at which their clients can hold events. Instead of taking out bank loans and racking up debt, some clever caterers are using those tangible assets for growth financing.

Asset Based Growth Financing

Asset based growth financing taps into the value of the items mentioned in the previous sections, as well as receivables and other assets, to create a revolving line of credit. Caterers can access the line of credit as they need it, and then repay the balance. This provides a renewable source of working capital, which can be used to complete growth projects. Caterers can take advantage of asset based growth financing to create and launch marketing campaigns, purchase supplies, create partnerships, and more to ensure long-term success.

Financing That Grows With Your Catering Company

Asset based financing is the only funding program that not only promotes business growth, but also grows with your business. As a catering company sees and increase in receivables, acquires more equipment, expands into larger facilities, or purchases additional vehicles, it will gain access to a larger revolving business line of credit. Small businesses use asset based financing to grow quickly, which in turn promotes even more successful growth.

Learn More About Growth Financing

At CNH Finance, we provide the most comprehensive program for asset based lending. If you are looking for growth financing, and would prefer to sidestep debt and the restrictions of traditional loans, contact our offices.