6 Industries Kabbage Loans Serve
The following post is sponsored by Kabbage Loans. All opinions are our own.
Although all kinds of businesses need capital, different businesses are best served by different kinds of funding. Kabbage.com, the online business lending powerhouse, provides flexible loan products for most small businesses. Not every business will use the kind of loan or line of credit Kabbage provides, but certain industries find our funding particularly helpful.
1. Auto Repair
One impact of a slow economy is people driving their cars longer before replacing them. This can mean good things for auto repair shops – if they have the equipment, supplies and manpower to take advantage. A shop that lags behind the curve may never benefit from this quirky industry boom. Kabbage has specialized equipment, training and payroll loans to put you at the front of the line.
2. Doctors and Dentists
In addition to growing equipment and compliance costs, doctors and dentists face a serious problem when it comes to getting paid. Insurance companies are notorious for dragging their feet and paying only a portion of a bill, often leaving practices scrambling for operating cash. Our equipment loans can help upgrade your office stay current while you play the insurance game.
3. Seasonal Businesses
One of the most serious challenges of seasonal businesses is coming up with capital to leverage during a busy season. Since busy times generally follow periods with slow earnings, many seasonal shops lack the funds to advertise and buy inventory, forcing them to leave money on the table. Stop that discouraging cycle with a line of credit.
Though cash-and-carry customers are great, many wholesalers need to ship merchandise before receiving payment. This can mean scrambling for cash to fill next month’s orders while waiting for this month’s invoices to get paid – and that’s a best-case scenario. If a major client falls behind or doesn’t pay you at all, a line of credit can keep the wheels of your business rolling.
5. Trucking and Truckers
More than one trucker has been stuck with cargo ready to haul but no money to get the vehicle in safe and working order. Every day spent figuring out how to pay for fuel and repairs is money you won’t get back. Kabbage offers equipment loans and lines of credit to get you on the road and get your cash flow back in line.
Traditional lenders often view restaurants as shaky investments for a variety of reasons. Because Kabbage uses different metrics for assessing risk and approving loans, we like funding restaurants up to of $100,000.
Whether you’re one of these “sweet spot” companies or you just need a little extra capital for your next opportunity, Kabbage loans can have you funded within minutes. Find out more about a Kabbage line of credit and start growing your business today.