In addition to these broad categories, there are many other loan options that you can choose from and if you browse through our website you can learn more about them. As far as what qualifies for adequate collateral, accounts receivable or inventory, as well as fixed assets, usually qualify. We are able to assist businesses that may not fit into a traditional invoice financing structure as their business model is based on a periodic fee arrangement with its customers e.g. property management agents, child care service providers and fitness centre operators. And if you have a blemish on your credit record or are falling behind in your APO obligations, it is not a problem. Established businesses with sound credit histories have the best bet of obtaining unsecured revolving lines of credit. Mortgage products and services are provided by SunTrust Mortgage, Inc.
Other uses for short-term business loans are to raise working capital to cover temporary deficiencies in funds so you can meet payrolls and other expenses. In recent years, however, short-term business loans have become an increasingly popular tool for business owners to quickly take advantage of opportunities and handle obstacles that may come their way. Consider a line of credit a loan that functions like a checking account. They were drafted by the International Chamber of Commerce ICC in 1933 and revised as recently as 2007. Businesses have needs for short-term loans, intermediate-term loans, and long-term loans. Buying a new expensive piece of machinery may take many years to pay for itself.