Financial requirement to run a business is not an easy thing to arrange when you’re a growing business. Any opportunity can pop its head at any time and a cash crunch at that point of time can and will create sudden problems. No bank will offer you financial assistance on an emergency basis. In fact, banks aren’t usually inclined to fund medium or small size businesses and they usually prefer to loan higher loan amounts. Which is why what you need – as a budding business or a startup – is a lender who can offer as much or as little loan as you need and, more importantly, when you need it. This is where the role of asset based funding by elite investment firms like Accord Financial can help you.
So, let’s begin with the basic question, what is asset based funding?
Asset based funding is a type of financing that’s done against the assets of your business. Those assets could be anything ranging from inventory to accounts receivable, equipment and machinery, even the value of your existing orders, and so on.
That said, let’s now take you through some excellent benefits of asset based funds by Accord. Have a look!
- The Loaning Amount is Flexible
Accord approves loans even as little as 75 thousand dollars or even lesser for small businesses. The best thing about these funds is they can also be approved for no minimum term.
Next comes the demanding cash need for purposes like liquidation and merger, turnarounds, expansion and opening of new branches, and things as such that require more money. Accord has options to finance such targets too. They can approve loan amounts anywhere up-to 20 million dollars as well.
- The Loaning Terms are Flexible
You might want to repay the loan before term or you might want to reapply for one. And Accord Financial offers flexibility to accommodate both.
- You can pay the loan in full after 3 month.
- Once your first loan is paid by 50%, you can apply for a second loan that needs not to be the same amount as your first loan – it can be less or more.
- They Approve Loans Without Hassle
Accord is neither interested in your credit history nor the size of your business. They’ll approve funds as long as you are a genuine business trying to exist and expand.
- They approve funds quickly. It can also be a matter of just a few hours in some cases.
- They offer assistance and multiple solutions as well.
So, if you too want immediate funds for your business, do visit the Accord Financial website to find out more about their services and also to contact them.