You’ve done what you can to keep busy, from working your contact list to create additional work to cutting expenses the best you can to taking on more of the burden yourself. Still, business often is cyclical – and the cycle is not in your favor at this moment. In no way is your business alone in sometimes needing financing to get through the dark days.
No doubt you’re tempted to ride out the storm. But that can be a dangerous move, because you’re much more likely to get favorable terms before your business reaches critical mass. And if a project should jump up, you’d hate to be sidelined by a lack of capital.
Think about it: You may have plenty of equity in your existing fleet!
What’s your best move?
- Lay the groundwork by being proactive in seeking capital. You don’t want to be caught short when an opportunity for growth presents itself, and an attempt to rush financing most likely would not result in the most favorable terms.
- Knowing you have funding in place, aggressively seek out new or expanded opportunities. Let your contacts know that you’re ready, willing and able to get their jobs done.
- Consider your options for growth. Other businesses likely are not as prepared as your own, so there may be opportunity to expand through acquisition. If you have the capital to make a move, it can create – in the short and long terms — more revenue streams for your company while efficiencies keep costs at the same level.
- Use your assets to improve those very same assets, by tapping into your equity and repairing and tuning up equipment, ensuring that it is ready to go when business booms in the spring or summer.
With money in place through refinancing your assets, you’re assured of possessing enough working capital to get through the slow season with flying colors and position your company for growth!
For more information or to get the quick and painless process started, contact Access Commercial Capital. We Listen… We Lend!