Debt financing is the conventional solution for business owners who want to expand and grow operations. Unfortunately, traditional debt financing is not always the answer. In order for…
Many business owners feel that once the put in for a loan application, they are no longer in control of the outcome. Giving business owners more of a say in how their financing sources are structured could lead to more success across the board.
Business Owners Demand Less Bureaucracy
The process of getting approved for financing shouldn’t involve a lot of red tape. Increasingly high requirements to access basic loans have left business owners feeling disenfranchised. The chain of command processing method also forces business owners to miss out on windows of opportunity while a loan application is passed from one department to another, only to boil down to an arbitrary board decision.
Business Owners Don’t Want Unnecessary Debt
Business growth through debt is counter-intuitive and counter-productive. For business owners to gain momentum or position themselves for growth, they cannot be held back by debt. Businesses need a debt-free solution that preserves credit ratings and provides more flexibility than traditional lending methods.
Renewable Working Capital
Loans only go in one direction. Business owners take the loan amount all at once and are left with debt on the books when the capital is used. In today’s business landscape, having access to a renewable source of working capital that can be drawn on as needed makes more sense.
A Solution for Business Owners
Asset based financing checks all the boxes for today’s business owners. Asset based financing is a debt-free, revolving business line of credit structured around the value of receivables, equipment, inventory, and property. Asset based financing can be arranged quickly so businesses can access funds for anything they need. The line of credit can be used for any purpose, and as the balance is repaid, the amount of financing available is replenished. Additionally, as a business grows, makes more sales, or acquires new equipment, the limit on the line of credit also increases.
At CNH Finance, we provide asset based financing solutions to business owners in all industries. To unlock the value of your assets and get flexible and affordable funding tailored to your needs, contact the experts at CNH Finance today.