While the Federal Government is shutdown, many small businesses are left in the lurch. The delay in processing the SBA’s 7(a) loans are leaving small businesses across Minnesota and the nation waiting for that desperately needed working capital to fuel their growth. The SBA has guaranteed over $300,000,000 in 7(a) loans in Minnesota through September 30, 2013.
This couldn’t come at a worse time, as many small businesses are ramping up for the bustling holiday season. By having their SBA loan application delayed, companies are facing major cash flow challenges, struggling to meet payroll, pay their vendors promptly, or buy more inventory for the coming year-end rush. The profitability of those businesses is also being affected, which is not a good thing for a slowly growing economy.
At times like this, it’s important to remember that there are businesses that provide commercial finance solutions such as factoring, leasing, and bridge financing.
At Commonwealth Capital, we don’t have red tape that slows down getting our clients funded. We are entrepreneurs, too, and we understand that sometimes businesses can’t foresee all their cash needs and need money quickly. We get our clients set up quickly so they can get back to running and growing their businesses. We focus on helping our clients have the working capital they need for expanding their business. This cash flow is often used to pay employees, pay suppliers, buy inventory, and pay quarterly tax obligations.
If you’re stuck waiting for your SBA loan to get approved and need cash for your invoices now, call us today. We can help you by factoring your invoices. We’d love to see you get back to what doing what you do best: building your business.