Every business can use an extra source of working capital for everything from small office purchases to smoothing out revenue cycles, and even acquisitions. However, for new and small businesses, getting access to extra capital still remains a challenge. Since traditional lending channels have increasingly high requirements for loans, finding a reliable source of extra capital can feel like an uphill battle. Fortunately, there are special unsecured lines of credit designed with new and small businesses in mind.
Unsecured Lines of Credit Are Easy to Access
As we mentioned above, unsecured lines of credit for new and small businesses are much easier to access than traditional loans. Because the lines of credit are unsecured, businesses do not have to put up collateral to access capital. This is ideal for startups and small businesses that may not own a lot of assets, or lease the equipment and space they need to keep operations running at a lower cost. Instead, an analysis is performed on the overall profitability and credit standing to determine the amount of capital available through the line of credit.
Discretionary Capital for All Your Business Needs
Traditional loans are typically single-use and single-purpose. A loan for equipment must be used for equipment. A commercial real estate loan must be used for facilities or investment property. Most new and small businesses need capital for a wide variety of purposes, from marketing to establishing relationships with suppliers, ensuring overhead is covered, and much more. Unsecured lines of credit are discretionary, so you can use them for whatever your business needs. Additionally, unsecured lines of credit offer revolving options, so as you repay the balance, the amount of available capital is replenished.
Giving Small Businesses a Competitive Edge
At Nanaki Capital, we believe new and small businesses should have every advantage to thrive and grow in a competitive marketplace. For that reason, we offer unsecured lines of credit to new and small businesses. We want to see the fresh entrepreneurs of today become the huge successes of tomorrow’s business world, which is why we offer funding solutions tailored to your needs. If you would like to learn more about our program for unsecured lines of credit and how it can help to propel your business, contact Nanaki Capital today.