Today’s financial climate is uncertain, raising rates and high inflation are damaging small and mid size businesses throughout our country. What can a business owner do to keep his or her low current interest rates?
SBA Express
SBA Express is your best mezzanine lending alternative, without acquiring a new higher interest rate or forfeiting your current low interest rate. No doubt rates are now expensive. Utilize SBA Express for your commercial real estate project or as a quick cash infusion for your business by taking advantage of SBA Express terms as a first or second position. Since credit restrictions are abroad, lenders prefer a 680 or better for your personal credit score to initiate your SBA Express application. In fact, it could be more affordable than your typical commercial mezzanine financing. It is always best to check your credit before you apply for business credit.
Cash Back Credit Card Rewards
The new requirements for a business credit card are a 725 personal credit score or better. By obtaining a cash back rewards credit card for your business, it is a valuable tool to throw cash back into your business while you purchase equipment, office supplies or inventory. It is also an advantage for your business if the minimum payment due is what you can afford for the month, without gaining a penalty for a late payment.
Short Term Business Bridge Loan
The requirements for a short-term bridge business loan are an accessory for your quick business fix. A short-term business bridge loan was not designed to keep these “quick fix” loans as long term, an exit strategy is necessary to exit out and consider entering SBA or Asset Based lending. A short-term business bridge loan allows you to preserve your current low interest business loan without penalties. The advantage of a short term business bridge is it’s a line of credit with a shorter term.
For more information on how this Florida boutique firm can help you with your business credit and alternatives to mezzanine financing please fill out the online contact form about your concerns or give us a call at 239.260.4602. Conveniently located in Southwest Florida for Floridian business owners. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.
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