Why Small Businesses Use Asset-Backed Loans
Top 5 Reasons Why Small Businesses Use Asset-Backed Loans.
Many small businesses are struggling to meet cash flow needs in today’s challenging market. Many companies have exhausted their lines of credit and personal loans used to support growth, fund payroll, or for other capital needs. These companies need access to fast cash and today many of them will use asset-backed short-term loans to mitigate cash flow crunch times. In Minnesota, one resource many business owners have used is MyBridgeNow located in Burnsville. Like all asset-based short-term lenders, they will evaluate your assets and lend you cash, giving you the liquidity your business needs, and they do it in a matter of minutes.
- ACCESS TO CASH
Immediate access to cash. Short term asset-based lenders, like MyBrideNow, can evaluate your assets and issue funds from $5,000 to $500,000 in as little as 10 minutes! Plus, you can access these funds in minutes. This immediate access to cash can be the difference in your ability to operate your business efficiently and keep your business going!
- ASSETS ACCEPTED
Accept a wide variety of assets. Asset-based lenders accept take a wide range of assets to give you access to cash quickly. Here is a partial list of the types of products they take: Construction Equipment, Small Equipment, RVs, Boats, Trailers, Cars, Power sports, Motorcycles, Jewelry, Coins, Luxury Watches, and more.
Covering Payroll. Payroll is one of the most challenging parts of a small or medium size business. You are working hard to run your business, drive sales growth, while at the same time worrying about cash flow for payroll.
- NO CREDIT CHECKS
MyBridgeNow does not check your credit or base the loan on your financial standing. They base the loan only on the value of your item(s). The interest rates are reasonable.
- NON-RECOURSE LOAN
A loan from MyBridgeNow will never cause you any stress or result in a collection process. If you are unable to redeem your assets, you keep the loan amount and MyBridgeNow keeps your asset.