Grow Your Business the Same Way ESPN Did

If you asked 100 small business owners what the number one thing was they wish they had more of, the answer the vast majority of the time would be working capital. Defined as Current Assets – Current Liabilities, a robust supply working capital can be an indication of a healthy business poised for growth opportunities. Conversely, small businesses lacking these assets often spin their wheels to stay afloat and miss out on potentially lucrative opportunities to thrive. This can further jeopardize the blood, sweat and tears required to build a business from the ground up. After all, expansion – and the inability to acquire the resources with which to expand – is the top obstacle small businesses face.

For small businesses that lack the assets, time in existence or credit score to qualify for bank financing, there are other options available. Most notably, private specialty lenders exist for the exact reason of helping hard-working small business owners get over the hump and get to the next level. While specialty lending is sometimes scrutinized for higher interest rates and shorter terms than traditional bank funding, this short-term inconvenience pales in comparison to the opportunity to create a profitable business in the long term.

One astounding example of how revenue advances – a core offering of many specialty lenders – can propel a business to immeasurable success, is sports media giant ESPN. In 1979, ESPN Co-Founder Bill Rasmussen and his partners were in the midst of negotiations with the NCAA, cable networks and satellite providers. Once they reached agreements for broadcast rights and the associated logistics, there was a glaring immediate need for capital. Mr. Rasmussen took out a $9,000 revenue advance to facilitate these partnerships and the rest is history. Now, fast forward four decades and ESPN has grown into one of the most recognizable brands in the world.

All this is not to say that everyone who utilizes specialty funding will achieve this type of success, but it goes to show that the sky is the limit if entrepreneurs have a great plan and the resources necessary to execute it. As the premier private lender in the specialty funding space, MobyCap has helped small business owners – and even publicly traded companies – in virtually every industry acquire the funds they need to expand. We’ve already deployed over $1 billion in working capital over the last decade-plus and continue to innovate in the space so we can create even more long-term partnerships.

We can complete our fast, easy funding process in a matter of hours or days, rather than the weeks or months required to complete a bank loan. Since we don’t require any collateral or personal guarantee and require minimal documentation to underwrite, there is much to gain with virtually no downside to exploring your options. Don’t hesitate to call (737) 577-1180 or Contact Us at your earliest convenience if interested in doing so. Moreover, you can simply Apply Now if you’re ready to move forward ASAP.

The Pros and Cons of Using Personal Assets as Collateral for a Small Business Loan

Securing a loan for a small business can be a tricky and complicated process. One of the most popular methods for securing a small business loan is to use personal assets as collateral. This involves pledging some of your personal assets, such as a house, car, or other valuable items, as a guarantee of repayment for the loan.

That can be very scary! As much as you hope it doesn’t happen, that means you’re at risk of losing whatever you put up for collateral. While this can be a great way to secure a loan, it’s important to understand the pros and cons before making the decision to use personal assets as collateral.

 

The Pros

 

One of the most obvious pros to using personal assets as collateral is that it can increase the chances of being approved for a loan. Since lenders know that they have something to fall back on if you don’t make payments on the loan, they are more likely to approve it. This can be especially beneficial for small businesses that may not have a lot of assets to offer as collateral.

 

In addition, using personal assets as collateral can often make the loan more affordable. Since lenders have the security of knowing that they can recover their funds if you don’t make payments, they are more likely to offer more competitive rates on the loan. This can make a big difference for small businesses that are looking for a loan but also need to keep their costs down.

 

The Cons

 

The biggest downside to using personal assets as collateral is the risk that you may lose those assets in the event that you don’t make payments on the loan. This can be a significant risk, especially for those who don’t have much in the way of cash reserves to fall back on. It’s important to make sure that you can afford the loan before signing up for it, as you don’t want to risk losing your personal assets if you can’t make payments on the loan.

 

In addition, using personal assets as collateral can also be a lengthy and complicated process. This is because lenders need to assess the value of the assets before they can approve the loan. This can add a significant amount of time to the loan process, and it’s important to make sure that you have the patience and resources to properly complete the process.

 

Ultimately, using personal assets as collateral for a small business loan can be a great way to secure financing for your business. However, it’s important to understand the risks and make sure that you can afford the loan before signing up for it. Because unsecured loans can be a great tool for your business, too! By weighing the pros and cons, you can make an informed decision and figure out if this is the right option for you and your small business.

 

Read our excellent reviews here

 

Unsecured lending is a great way to access funds when you don’t have collateral to pledge, or if you don’t want to put up collateral. Why risk your most valued assets if you don’t have to? At MobyCap, we have been providing the best rates in the industry for unsecured lending for years.

 

MobyCap has been helping thousands of businesses just like yours to secure small business loans for over 10 years. We have sourced over $1 Billion in funding for small businesses and we have the expertise to make the loan process as fast and easy as possible. Contact us today to learn how we can help get money in your pocket.

Your business must be on pace for at least $500k in annual revenue for us to be the right fit for your business. Please do not submit our contact form unless your business is on pace for at least $500k in annual revenue. 

 

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*MobyCap specializes in both loans and alternative financing options. Please see our website for our full suite of services and offerings.

How to Combat Small Business Seasonality

Most small business owners start out down a similar path: they gain experience in their chosen field, develop their own expertise, formulate a plan for how to improve things, and finally branch off to start their own company. While some are fortunate enough to hit the ground running, with pre-existing clients in tow, many are focused on drumming up new business for the first months – or even years – of their new ventures. This often requires copious amounts of spending on startup costs, marketing and staffing, to name a few. Once a merchant overcomes these large initial challenges, the next one can rear its ugly head… seasonality.

Seasonality describes the increase and/or decline in demand for a product or service, based on the time of year. Several key factors can contribute to seasonality, including weather, consumer behavior patterns, travel, and more. Some examples of seasonal businesses include vacation and travel entities, lawn care, retail (especially those with a sports and recreation focus), tax services and education services, among many others. These seasonal companies experience fluctuations in resources that are two-fold: they often require available capital to keep up with the surge in demand during the busy seasons, and funds to cover operational costs during the slow times. A lack of funding during the former can lead to missed opportunities while lacking resources during the latter can have more dire consequences. Either way, it can be extremely beneficial for small business owners to know what options are available to them if a need for quick funding arises.

Small Business Loans for Seasonal Companies

Many seasonal businesses are not candidates for traditional bank financing if they are light on assets, have low or insufficient credit or simply can’t wait weeks or months to receive the funds they need to take advantage of their opportunities. MobyCap is considered the premier specialty finance option for small business owners seeking funding to make the most of seasonality. We’ve successfully deployed over $1 billion and counting to merchants in similar situations over the last decade and continue to refine our offerings while streamlining our approach to make it easier than ever for small business owners to acquire funding tailored to their exact needs. Unlike other private lenders, we offer a full suite of options including term loans, revenue advances and lines of credit. We typically underwrite for all possible options before presenting the best approvals and moving quickly through the closing process.

This streamlined approach requires minimal documentation to start underwriting and can yield approvals within hours of receiving the items we need to start. Moreover, we assign a team of specialists to every deal in order to gain a deeper understanding of our clients’ current needs and future aspirations, which allows us to truly customize offers suited to their exact needs. This also inspires us to focus on speed and ease, as we know business owners would rather focus on running their operations, rather than tracking down the resources needed to do so.

There is no hard credit pull or personal guarantee necessary to underwrite, so you have nothing to lose and much to gain by calling in to discuss your options with our funding experts. Don’t hesitate to submit your information through our Contact Us page, or call (737) 577-1180 to get started. Thank you, we look forward to working with you and are confident we can be a valuable asset to your business.

What Documents are Required for a Small Business Loan Application?

If you are a small business owner looking to apply for a loan, you may be wondering what documents are required for the loan application process. Depending on the type of the loan and the lender, the process can seem overwhelming, but having the necessary documents in hand can make the process much smoother.

 

In this article, we will outline the essential documents required for a small business loan application, as well as demonstrate how easy it is to work with MobyCap versus someone like a traditional bank.

 

Financial Statements

 

Financial statements are essential documents that provide lenders with a snapshot of your business’s financial health. The financial statements that lenders typically require include:

 

  • Income statement: An income statement shows your business’s revenue and expenses over a specific period, usually a year.
  • Balance sheet: A balance sheet shows your business’s assets, liabilities, and equity at a particular point in time.
  • Cash flow statement: A cash flow statement shows your business’s cash inflows and outflows over a specific period.

 

MobyCap only requires your most recent 6 months of business bank statements. In special cases we will request additional docs like a business tax return. That’s it!

 

Business Plan

 

A business plan is a document that outlines your business goals, strategy, and financial projections. A business plan is essential for a small business loan application as it provides the lender with insight into your business and helps them assess the risk associated with lending to your business.

 

MobyCap does not require a written business plan to be funded!

 

Business Tax Returns

 

Business tax returns are required to verify your business’s income and to assess your business’s ability to repay the loan. Lenders typically require the past three years’ tax returns.

 

MobyCap will request a business tax return on occasion, but it is not generally required.

 

Personal Tax Returns

 

Lenders may also require personal tax returns to assess the creditworthiness of the business owner.

 

MobyCap does not require a personal tax return!

 

Business Licenses and Permits

 

Lenders may require proof that your business has the necessary licenses and permits to operate legally.

 

MobyCap does not need proof of business permits.

 

Bank Statements

 

Bank statements provide lenders with insight into your business’s cash flow and how you manage your finances. Lenders typically require the past six months’ bank statements.

 

All we require is your most recent 6 months of business bank statements.

 

Collateral Documentation

 

If you are applying for a secured loan, you will need to provide documentation for the collateral you are offering to secure the loan. This could include property deeds, vehicle titles, or equipment titles.

 

Conveniently for you, MobyCap funding is all unsecured, so no need to put up anything like your house, car, or business!

 

Conclusion

 

When applying for a small business loan, it is essential to have all the necessary documentation in hand to ensure a smooth application process. MobyCap is proud to have the most seamless process in the entire industry.

 

The documents required may vary depending on the lender and the type of loan you are applying for. However, having a business plan, financial statements, tax returns, licenses and permits, bank statements, and collateral documentation will give you a strong foundation for a successful loan application. Be sure to review the lender’s requirements carefully and prepare all the necessary documents in advance to avoid any delays in the loan application process.

 

If you have your most recent 6 months of business bank statements, we can get real rates and terms in front of you right away, and funded in as little as a few hours!

Moby Capital has been helping thousands of businesses just like yours to secure small business loans for over 10 years. We have sourced over $1 Billion in funding for small businesses and we have the expertise to make the loan process as fast and easy as possible. Contact us today to learn how we can help put money in your pocket.

Your business must be on pace for at least $500k in annual revenue for us to be the right fit for your business. Please do not submit our contact form unless your business is on pace for at least $500k in annual revenue. 

*MobyCap specializes in both loans and alternative financing options. Please see our website for our full suite of services and offerings.

Why Your Business Needs a Merchant Cash Advance

Popularly known as MCA, the merchant cash advance offers a quick loan to businesses. Think of it as a paycheck advance that goes to businesses rather than individuals. Although, it is increasingly becoming popular among establishments with a steady volume of sales. Most business owners aren’t entirely sure of whether or not to get a merchant cash advance. Well, below is every reason why your business needs this type of loan.

1. Quick and Easy Application

With this type of funding, an establishment can get the money they need within a couple of days. Understand that your sales history is the most important consideration, both short-term and long-term. Some lending companies will have the funds ready within the day of application, thus increasing convenience and reliability.

Demonstrating that you have a viable business is all you need to qualify. Ensure you have all the documents that can prove a high volume of sales within the year. Getting your MCA will, therefore, be quick and easy.

2. Flexibility

With MCAs, you get to experience all the advantages of flexibility. Understand that you get to choose how to use the funds, which is a huge bonus. Other types of funding will usually need a detailed plan on how you will be spending the money. However, MCAs let you have full control over the funds and your business. 

You also get lots of options when it comes to payment plans. For instance, your repayment plan can be linked to the percentage of daily sales. What this means is that you won’t need to pay a lot of money when the sales are low. Understand that businesses with flatulating sales can significantly benefit from the flexibility of MCAs.

3. No Collateral

MCAs are unsecured loans, which means that they don’t tie up any business assets as collateral. If you are a business with limited assets, a merchant cash advance is an excellent choice. All of your existing assets remain operational and functional.

Understand that MCAs will also not affect your credit ratings, unlike commercial loans. Because your MCA depends on the future sales of your establishment, they are never present on your credit report. You can, therefore, maintain your credit rating and apply for any other loans.

4. Fast Cash Access

Commercial loans take a lot of time to process once approved, sometimes up to a few months. MCA funding, however, is usually available within a few days after approval. You do not need to file a lot of paperwork during the application, making the process fast and easy.

Fast cash access is an important consideration, especially when your business needs immediate funding. Understand that getting quick access to cash might be the difference between keeping your business afloat or shutting down.

5. High Approval Rate

Compared to other sources of business funding, MCAs have a much higher approval rate. The advances are hardly denied because there is always room for negotiation. You can always recalculate the interests or change your payment plan should you run into a problem.

Struggling businesses usually find it challenging to get a regular commercial bank loan. If you find yourself in such a situation, MCAs are your best bet for getting your business back on its feet. You also get to negotiate the payment plans and duration of the loan to suit your needs.

Conclusion

Are you looking for fast and easy business funding to help you meet your goals? MobyCap includes a team of dedicated professionals that will help you attain funds in as little as one day. To move forward today, contact us by email at info@mobycap.com. As a BBB-accredited business, we have experience serving all industries and welcome the opportunity to work with your organization.

The Benefits of Small Business Loans: How They Can Help Grow Your Business

small business loans

Small business loans are a critical source of funding for companies looking to grow their businesses. Whether you’re looking to expand your product line, hire additional staff, or purchase new equipment, a small business loan can provide the financial resources you need to achieve your goals. In this article, we’ll explore the benefits of small business loans and how they can help grow your business.

 

1. Access to Capital – One of the most significant benefits of a small business loan is access to capital. Many small businesses struggle to secure the funding they need to grow, and a loan can provide the financial resources necessary to invest in their business. With a small business loan, entrepreneurs can take advantage of new opportunities, expand their business, and increase revenue. MobyCap is able to access up to $5 Million at a time for your business. As we develop a track record together of successful lending, we can offer you better rates & terms, as well as larger loan amounts.

 

2. Flexibility – Small business loans offer flexibility in terms of the loan amount and repayment terms. Loans can range from a few thousand dollars to several million dollars, and repayment terms can vary from a few months to several years. This flexibility allows companies to choose a loan that best fits their business needs and cash flow. Unlike a bank which has very strict loan structure, we are able to be flexible with our products and customize them to whatever makes the most sense for your business. MobyCap understands that you’re not just some cookie-cutter company or another number on a speadsheet.

 

3. Improve Credit Score – Taking out a small business loan and making timely payments can help improve your business’s credit score. A good credit score is essential when applying for future loans, credit lines, or other forms of financing. The better your borrowing history is, the better the offers will be that are available to you.

 

4. Retain Ownership – Unlike equity financing, which requires entrepreneurs and companies to give up a portion of their ownership in exchange for funding, small business loans do not require any equity. This allows entrepreneurs to retain full ownership and control of their business while still accessing the capital they need to grow. This is a great savings in the long run, especially if your goal is to grow your business as much as possible. Some of MobyCap’s most common customers are ones that have recently raised funding in exchange for equity since the founders have regret about losing their ownership. Debt-financing allows you to keep your equity!

 

5. Tax Benefits – Small business loans may offer tax benefits in the form of interest deductions. Interest paid on a small business loan is typically tax-deductible, which can help reduce your business’s tax liability. Make sure to consult with a tax-professional so you’re aware of the current laws and regulations.

 

In conclusion, small business loans can provide the financial resources necessary to grow and expand your business. MobyCap has seen this countless times with our thousands of happy customers. From access to capital to flexibility and tax benefits, small business loans offer numerous advantages over other forms of financing. If you’re a small business owner looking to grow your business, consider the benefits of a small business loan and explore your financing options today.

Moby Capital has been helping thousands of businesses just like yours to secure small business loans for over 10 years. We have sourced over $1 Billion in funding for small businesses and we have the expertise to make the loan process as fast and easy as possible. Contact us today to learn how we can help get money in your pocket.

Your business must be on pace for at least $500k in annual revenue for us to be the right fit for your business. Please do not submit our contact form unless your business is on pace for at least $500k in annual revenue. 

*MobyCap specializes in both loans and alternative financing options. Please see our website for our full suite of services and offerings.

Equipment Leasing: A Simple Guide for Business Owners

Leasing is a convenient, affordable way to help businesses of all sizes acquire high-quality equipment they might not be able to purchase outright. But if you’ve never leased equipment, it’s natural to wonder how the process works and what specific benefits leasing can deliver to your business. Below is a look at the top benefits of equipment leasing and the key to a successful equipment leasing experience.

How does the equipment leasing process work?

The path to a smooth equipment lease begins with a clear understanding of how the process works. The process typically begins when a person or business (ultimately the lessee) needs one or more pieces of equipment. In many cases, the equipment needed is costly – sometimes carrying a value of $1 million or more. In a nutshell, there are three primary reasons why a lessee may decide to lease equipment:

  • Scenario 1: The lessee needs the equipment indefinitely but is not able to afford to pay cash in advance
  • Scenario 2: The lessee needs the equipment for a specific period of time and is not interested in long-term use
  • Scenario 3: The lessee is interested in acquiring the equipment with the option of purchasing it at the end of the lease

The leasing company typically pays the equipment provider in advance and the equipment is delivered to the lessee according to negotiated terms. The lessee then makes affordable monthly payments to the leasing company throughout the course of the lease. At the end of the equipment lease, the equipment is either returned to the supplier or purchased at a negotiated rate.

What are the steps involved with a typical equipment lease?

No two equipment leases are exactly alike. However, there are some basic steps that are followed in virtually every equipment lease. Depending on your financial health and the leasing company you select, your application could be approved and your equipment delivery confirmed within just a couple of days. Here are the key steps involved in a typical equipment lease.

Step One: Make a list of the equipment you need

If you are considering an equipment lease, you likely have an idea of the equipment you need and the approximate cost. But it’s best to be as specific as possible with equipment suppliers to avoid confusion. As you prepare your list, be sure to include the following:

  • The equipment or machinery you need
  • Your preferred manufacturer and model
  • The quantity of each item you need

Step Two: Request a quotation from a reputable equipment provider

Depending on your industry and the equipment on your wish list, you could be looking at a multi-million dollar transaction if you were to purchase the equipment outright. Most equipment leasing companies will want to review your estimate, so make sure you request a formal quote that includes the following:

  • The delivery address of your facility
  • A signature of the company representative
  • An expiration date
  • Any additional fees

Step Three: Select a trusted equipment leasing company

Not all equipment leasing companies are created equal. As in the case of equipment providers, leasing companies vary greatly in terms of their service, funding abilities, and reputation. As you evaluate leasing companies, look for a company that offers the following:

Step Four: Complete an application

Today’s equipment leasing companies make the application process fast, straightforward, and convenient for prospective clients. It is not uncommon for leading companies to have a short one-page equipment lease application that can be completed online in a matter of minutes. You might be asked to provide some basic documentation along with your application. The documentation requested will depend on the type of business you own and the value of the equipment.

Step Five: Receive approval

If you are working with an efficient leasing company, you can expect to receive approval or feedback on your application within 24 hours. And if you’ve selected a top-tier company to handle your lease, your first lease payment could be remitted the same day you are approved. This means you could have the equipment you need in hand faster than you ever imagined.

What are the top benefits of equipment leasing?

Many people are surprised by how straightforward and easy it is to lease machinery or equipment. In fact, the simplicity of the leasing process is a major reason why many business owners and operators decide to lease again in the future. Here are some other benefits of equipment leasing:

1) Flexible terms and equipment options

Flexibility is one of the many advantages of an equipment lease. You can negotiate the length of your lease to suit your needs and work with your leasing company to arrive at monthly payments you can afford. Additionally, you have a lot of latitudes to choose your favorite equipment brands and models.

2) You may opt to purchase the equipment at the end of your lease

Some lessees find that they don’t want to part with equipment as the end of a lease term approaches. In some cases, employees grow comfortable using leased machines, and some business owners find that their productivity skyrockets after new equipment is introduced. So whether you wish to avoid disruptions to your operations or simply wish to keep the equipment you have grown accustomed to using, you can often negotiate a purchase at the end of your lease.

3) Your maintain a healthy cash flow

Healthy cash flow is the cornerstone of growth for many companies. Leasing a device for a few thousand dollars instead of forking over $100,000 to purchase it outright can help you keep plenty of cash on hand. This cash can be used to fund special projects, expand your product line, or hire new employees.

4) You don’t have to stress about service

Service woes and equipment breakdowns are two of the woes of owning equipment outright. Grappling with equipment repairs can be costly, and equipment problems may even halt your productivity. But with most equipment lease agreements, you aren’t responsible for equipment servicing. So, if a machine you are leasing breaks down or requires maintenance, the equipment provider must repair or replace the item quickly and at no cost as your lease agreement specifies.

What are some common examples of situations that call for equipment leasing?

With leasing offers so many enticing benefits, you may wonder whether it is the best option for your business. As you compare leasing with other financing options, it’s helpful to consider some of the unique ways leasing can help you meet your revenue goals. Here are some examples of situations when equipment leasing makes sense:

1) Your business is a startup or in the early phases of growth

Startups and new businesses rarely have much excess cash on hand. However, many begin generating substantial revenue after being open just a few months. By offering manageable monthly payments, leasing is a good choice for growing businesses.

2) You would like to offer special medical services

Equipment leasing is quite common in the healthcare industry. Capital medical equipment can cost hundreds of thousands of dollars, making procurement a challenge for budget-conscious facilities and doctors starting their own practices. Here are some ways leasing can help healthcare providers:

  • Equip temporary pop-up or mobile clinics: Leasing is a great option for healthcare practitioners seeking to open
  • Procure high-ticket equipment: Obtaining a costly MRI machine, CT scanner, or mobile x-ray unit becomes more affordable with leasing.
  • Ease startup costs: Leasing can help newly licensed doctors and dentists equip their practices without breaking the bank.

3) You need to prepare for peak season

Many businesses depend on revenue from their peak seasons to carry them through the remainder of the fiscal year. And there are few things more frustrating than being unable to deliver service or products when you have the staff but lack the machinery necessary to meet increased production demands. Leasing provides you with access to the equipment you need without destroying your budget.

What is the key to your satisfaction with equipment leasing?

Clearly, equipment leasing offers a host of benefits to businesses in many industries. But why are some leasing experiences picture-perfect while others leave something to be desired? The answer often lies in the leasing company you work with.

The key to your satisfaction is to select a five-star equipment leasing company that is professional, efficient and focused on helping you secure the equipment you need as quickly as possible. As a leader in the equipment leasing industry, Moby Capital is here to guide you through the equipment leasing process. We offer a level of responsiveness that is second to none and have a proven track record of success working with capital equipment suppliers across a variety of industries.

To move forward today, contact us by email at info@mobycap.com. As a BBB-accredited business, we have experience serving all industries and welcome the opportunity to work with your organization!

How Small Businesses Can Weather the Inflation Storm

Inflation is defined as the general increase in prices and the fall in the purchasing value of money. As you can imagine, this cause-effect relationship can have a wide-ranging impact on small business owners. This can include rising costs for inventory/materials, the subsequent raising of one’s own prices to keep up, and a potential loss of business to competitors as a result. This is just a simple example, as there are countless other ripple effects involved for business in different industries. Moreover, in times of high inflation, small business owners sometimes scramble for new sources of materials and/or overhaul their systems, which can incur large up-front costs. Any combination of these events can severely impact small business owners’ bottom lines in the short and long term.

For the 12 months that ended in February 2022, the inflation calculator reflected a four-decade high of 7.9%. There are many contributing factors to this dramatic rise, including repercussions of the Covid-19 pandemic, global supply chain issues, and the Russia-Ukraine conflict, which is exacerbating things by impacting energy prices. For many small business owners who were looking forward to a big summer after emerging from the shadows of the pandemic, this has thrown a wrench into their plans. The government is actively taking measures to combat inflation, so hopefully, this is more of a temporary setback, but small business owners still must navigate through this challenging landscape. The looming threat of a recession adds more fuel to the fire but is something that can be overcome on an individual level through proper planning and opportunistic decision-making.

Combat Inflation With Flexible Funding

In the past, bank financing was the only viable option for small business owners in need of capital to take advantage of growth opportunities, cope with changes in the business environment and/or bridge the gap when receivables lag for any reason. However, big banks are often quite rigid with their underwriting processes and often turn away merchants who are light on assets, have thin or subpar credit, or simply haven’t been in business long enough. Traditional financing also takes weeks or months to complete, which can feel like an eternity for small businesses. After all, a key advantage of smaller organizations is their ability to quickly adapt to a changing environment. If one is unable to secure the resources necessary to do so, dire consequences can ensue.

It is for all these reasons and more that MobyCap has carved out a niche in the alternative finance space while funding over $1 billion and counting to small business owners over the last decade. We specialize in granting our clients quick access to the capital they need to accelerate their business goals. We’re constantly streamlining our process and can complete deals within one business day because we know the impact a quick influx of working capital can have on a business’ growth trajectory. We strive to exceed expectations at every step of the process and truly feel we can help anyone who walks through our doors, with our full suite of funding options ranging from $50k to $5M. Unlike most others in the unsecured funding space, we strive to gain a deep understanding of all our clients so we can create fruitful, long-lasting partnerships.

If you’re interested in exploring your options, don’t hesitate to call (737) 577-1180 or simply click HERE to fill out our secure one-page application. We look forward to working with you and are confident we can be an asset to you and your business!

Understanding Small Business Loan Interest Rates: What You Need to Know Before You Borrow

Having a small business is an exciting endeavor, but it often comes with financial challenges. One of the most important challenges is understanding how to finance your business. One of the most common ways to finance a business is through a small business loan. However, it is important to understand small business loan interest rates before committing to a loan.

 

How Do Interest Rates Work?

When considering a small business loan, the first step is to understand the interest rate. The interest rate is the percentage of the loan amount that must be paid in addition to the loan principal. The interest rate is the cost of borrowing money, and the higher the interest rate, the more costly the loan. Small business loans typically have higher interest rates than other types of loans due to the higher risk associated with small businesses.

 

What Are Your Options?

When shopping for a small business loan, it is important to compare the interest rates of different lenders. Different lenders may have different interest rates, so it is important to find the best rate for your particular business. Additionally, the terms of the loan will also affect the interest rate. For example, a loan with a longer repayment period may have a lower interest rate than a loan with a shorter repayment period.

Read our excellent reviews here

MobyCap is what’s called a “direct lender.” And what this means is we are directly using our own funds for lending. Since there are no other middlemen involved in the process, like brokers, we are able to cut out those additional costs and pass on the savings to you! So you can be sure that you’re getting the lowest rates in the market.

 

What Are The Types of Rates?

In addition to shopping around for the best interest rate, it is also important to understand the different types of interest rates. Fixed interest rates are the most common and are the same throughout the loan term. Variable interest rates are less common and can fluctuate based on the market and other factors. MobyCap uses a fixed rate so you don’t have to worry about compounding interest like you would with other options out there.

 

Final Decision 

Before making a decision on a loan, it is also important to consider the other costs associated with the loan. These costs include origination fees, closing costs, and other fees that may be charged by the lender. These costs should be factored into the overall cost of the loan so that you can make an informed decision.

On the other-hand however, you must consider the opportunity cost of passing on a new project or investment into your business that might have yielded a large return for you.

Taking out a loan can be a great way to finance your business, but it is important to understand small business loan interest rates before making a decision. By shopping around for the best rate, understanding the different types of interest rates, and considering all costs associated with the loan, you can make an informed decision that will benefit your business in the long run.

Apply Here

 

Who is MobyCap?

Moby Capital has been helping thousands of businesses just like yours to secure small business loans for over 10 years. We have sourced over $1 Billion in funding for small businesses and we have the expertise to make the loan process as fast and easy as possible. Contact us today to learn how we can help get money in your pocket.

Contact us today to learn how we can help put money in your pocket.

Your Business Must Be On Pace For At Least $500k In Annual Revenue For Us To Be The Right Fit For Your Business. Please Do Not Fill Out Our Contact Form Unless Your Business Is On Pace For At Least $500k In Annual Revenue. 

 

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*MobyCap specializes in both loans and alternative financing options. Please see our website for our full suite of services and offerings.

Short-term Unsecured Business Loans in Austin

Boost Your Austin-based Business with Speedy, Short-term Unsecured Loans from Moby Capital

Running a business in Austin, Texas, often requires immediate access to funds to seize unexpected opportunities or manage temporary cash flow gaps. Moby Capital offers quick, short-term unsecured business loans designed to meet these pressing needs without demanding collateral.

Why Opt for Short-term Unsecured Business Loans from Moby Capital?

  1. Fast Funding: At Moby Capital, we can process your application and provide funding within one business day.
  2. Collateral-Free: You won’t need to risk any personal or business assets to secure a short-term loan.
  3. Flexible Terms: Despite being a short-term loan, we work closely with you to ensure the repayment schedule suits your business.
  4. Personalized Service: We assign a dedicated expert to guide you through the application process and explain your business funding options.
  5. Adaptable Use of Funds: Our short-term unsecured loans can be used for a range of business needs, from paying off immediate debts to investing in quick-growth opportunities.

According to a study published in the Asia-Pacific Journal of Financial Studies, short-term loans can enhance a firm’s value, emphasizing the significance of services like those offered by Moby Capital.

As a business owner in Austin, you operate in a city brimming with opportunities. From the vibrant 6th Street known for its lively music scene to the bustling food markets like Austin City Market, Austin provides the ideal environment for business growth.

At Moby Capital, we understand the fast-paced nature of business and are dedicated to providing quick, reliable financing solutions tailored to your unique requirements. Contact us at 512-686-7747 or apply through our website today.

Your business must be on pace for at least $500k in annual revenue for us to be the right fit for your business. Please do not submit our contact form unless your business is on pace for at least $500k in annual revenue. 

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