Lethbridge – A Bright Choice for Entrepreneurs

January 4th 2020 at 12:54am Published by sharpshooteradmin

Lethbridge is the third-largest city in Alberta, Canada, by both population and land after Calgary and Edmonton. Not only that, but it is also the largest city in southern Alberta. It is the financial, commercial, industrial, and transportation hub of the southern Alberta.

It is one of a few cities in Canada with two post-secondary institutions, which is why the town has a higher literacy rate. From having beautiful landscapes to being the backbone of the economy, Lethbridge is an ideal location for entrepreneurs.

With that, here is why you need to go for working capital funding when starting a business in this region of Canada.

What Is Working Capital Funding?

The working capital funding is a short-term funding that offers different repayment options. Depending on your refunding capability, you can repay the borrowed amount in either six, twelve, or eighteen months. In case your business needs some credit on an immediate basis, this is when working capital will help you through. Hence, it’s the ultimate solution for any business with urgent capital requirements.

This type of funding can be used for various purposes, such as:

Purchasing crucial inventory and materials
Facilitating business with the latest technologies as per the industry demands
Paying debts taken in the past
Investing for the business’s growth, like marketing of your business
Making short-term repairs or other emergency costs
Handling low-level investments in infrastructure
Hiring new employees for the company/business

Advantages of Working Capital Funding

It helps in paying overdue bills
Since it’s not asset-based funding, your assets are safe with this funding option
It offers an easier and faster funding approval process
It provides gateways for cultivating small scale businesses
It does not have a complicated application procedure
It maintains your business’s operations efficiently
It boosts a poor credit score of your business
It covers financial gaps
Even with bad credit, you can still qualify for this funding
It has a secure repayment method, i.e., monthly payments
It has a low-interest rate

You Have A Business With Bad Credit?

If you have a business with bad credit, chances are you will not get funds that quickly. Not only that, but it also reduces the potential of small businesses to grow. But when it comes to alternative funding organizations, you can qualify for funding even with a poor credit history. This is why most entrepreneurs prefer alternative funding than traditional banking.

Therefore, you can not only fix the immediate problems of your business but improve the credit record as well.

You might be looking for funding for your business that tend to meet your identified needs. We will be happy to assist or consult you. So, fill out the online form on our website and let us help you.