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Business Loans to Overcome Hard Times & Crises

If you need working capital to overcome challenging times like the COVID-19-related situation, you can find more than one loan option to apply for. The right loan for your business can help you survive and move to the next level even when passing through hard economic times. So, if you need help with business loans from a reputable merchant services provider, keep on reading this post. 

Business Loans to Survive Hard Times

Almost all business owners face difficulties when trying to obtain access to working capital during critical times, let alone the high risk ones. The Federal Reserve’s 2019 Small Business Credit Survey shows that business owners’ personal credit scores played a major role in whether they could get access to capital or not. 

To be sure that you can find the best business loans for your company, work with a reliable business funding expert like in the U.S. Thanks to FAM, an award-winning alternative online lender and processor. This is how you can enjoy quick, secure and cheap access to the working capital you need to overcome a crisis. 

Here’re several options to consider when in need of working capital during difficult times:


  • Working Capital Loans


This type of financing can be ideal for those waiting for payment from a client and in need of funds to make rent payments, to pay for supplies, salaries, bills, and so on. A working capital loan can help you sidestep the challenges associated with today’s economic recession. It has the following types:

  • Term Loans that you can pay back based on a schedule between 1 – 25 years. The interest rates have fixed or variable options.  
  • Business Line of Credit offers a pool of money to meet your financial needs. 
  • Merchant Cash Advances (MCAs) are perfect for those in need of quick access to business funding, being sure you’ll earn revenue during the next months. Importantly, an MCA isn’t a loan: it’s a sale. 


Accounts Receivable Financing


If your business deals with a timing mismatch between the cash inflows and outflows associated with your business.


Business Credit Cards


These ones require less documentation as compared with other options. You can obtain the funds in up to 2 weeks. 

So, your business can appear in a crisis to get out of which, you’ll need the right type of financing. Thankfully, there are respectable alternative online lenders that can help you with this.