There’s more to Business than just shelling out Capital and getting registered. Owning a small business is more hectic than having a full-time job. Business owners, even experienced ones, encounter many hurdles. The biggest hurdle merchants often face is capital, not to start their business, but capital to help them grow or to keep them going. No business can start without capital. Merchants use their personal money to start their business. This initial capital keeps the business running as it cycles within the operations to bring in revenue. This may or may not last as the business experiences highs and lows. Even when the business is doing great, budget allocation for growth or expansion cannot be coped up by revenue. Some circumstances also push merchants to look for additional money. Oftentimes external capital through lending might be needed. How Can Merchants Get Additional Capital for Business? Take for example one of the recent global solutions provided by WeCompete Lenders. A merchant approached us for a working capital solution because his rent was due to increase by three folds. He needed funds to buy commercial real estate and finance the growth of his company. Approaching banks was not an option because his credit score was below 600. Despite his status, WeCompete Lenders was able to secure capital for him to purchase a building. It was a 450K loan payable in 10 years at a rate of only 6%. However, the merchant needed additional financing for the transition period - moving from his rented space to his own building. We worked to secure an advance for him payable for a period of 24 months worth 100K. How did this impact the company? Businesses often shy away from loans because of the misconception that it will set them back. The company mentioned here took out 2 huge loans, one immediate loan, and one long-term solution. It is now paying off those loans monthly. But, observable and measurable company growth was evidenced by the increase in monthly revenue from 45k to 75K. Some of our clients have reported as much as a 3-fold increase in revenues after the injection of additional capital. Do I qualify for a working capital solution? WeCompete Lenders has partnered with over 100 lenders that offer multiple working capital solutions. They have less stringent requirements compared to banks. To know which working capital solutions are suitable for your business, you can pre-qualify at www.wecompetelenders.com/get-preapprove. At WeCompete Lenders, we take care of our clients. We provide them with the right working capital for various business needs. To know more about how we can help you, you can call us at + 1 (844) 516-0633 or [email protected].