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First Capital Business Finance

Secrets On How To Get The Best Deal On Your Working Capital Loan

Working Capital Loan

Learn what the lenders don’t want you to know!


 Are you currently looking for a working capital loan (also known as a “non-traditional business loan”)? If you’re speaking with several companies you’ll find out the quotes on rates and/or fees can drastically vary from company to company. You also might find out some companies will try and charge some sort of upfront fee, which is not necessary. These fees are sometimes disguised as a;

  • Processing fee

  • Application fee

  • Underwriting fee

The upfront cost to underwrite and process a file should be absorbed by the company and not passed on to the client. If you’re applying for a loan, there’s no way you should be paying a company to tell you if you’re approved or not. Imagine if the credit card companies tried charging you an upfront fee to see if you can be approved for a credit card, would you want to do business with that company? Of course not, so why would you pay a company to review your business loan application? The only reason some of these companies are trying to charge these fees is to offset some of their expenses. It’s no secret, our industry runs on high overhead and some of the smaller companies need that extra fee to keep them moving. Fortunately we’ve built a great name and reputation in this industry we do not need to charge unnecessary fees.

 Now let’s get to the meat of this topic, how do you assure yourself your company is getting the very best deal on your business loan or business cash advance? Most business owners know that all companies run on different margins, some have higher expenses than others and some run real lean. Since you can’t go to each company and ask to view their books, there must be other ways to assure yourself you are getting the best deal. What we like to tell our customers is to get the actual loan documents from whomever they are working with. Those loan documents will have the breakdown of everything including the rate, term and any other fees. We highly recommend sending in only the loan documents, and nothing else. There has been times past customers asked if they could send in “loan approvals” or even emails that were sent to them showing the terms of what they are being offered. We only look and consider the actual loan documents, and nothing else. The reason for this is due to the unfortunate dishonest companies out there. There are some real dishonest and misleading companies we came across in the past. We’ve seen “loan approvals” from our competitors with terms that were completely fabricated and unattainable. Once you’ve sent us your loan documents from the other company or companies we will be able to have our credit committee and senior management review them and their validity. From there we can then offer you competitive pricing and/or even beat the competition. There still has not been one offer we couldn’t match or beat. Even if you have an existing business cash advance or working capital loan, we still might be able to get you a better rate and give you the extra capital that your business may need. If you would like to speak to one of our specialists, they can be reached Monday through Friday 7am to 7pm PST at 888-565-6692.

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