Vital Step Therapy & Fitness PC obtained a $37,675 Credit Facility financing for Leasehold Improvements & Working Capital.
Vital Step Therapy & Fitness PC obtained a $37,675 Credit Facility financing for Leasehold Improvements & Working Capital.
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We are excited to announce more work being done in the community by closing this loan. Read on for a testimonial from the President & CEO! Village Family Services, Inc. is a 20 year old community based nonprofit located in the heart of West Philadelphia. We were anticipating a serious crisis due to the state [...]
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We are excited to announce more work being done in the community by closing this loan. Read on for a testimonial from the President & CEO!
Village Family Services, Inc. is a 20 year old community based nonprofit located in the heart of West Philadelphia. We were anticipating a serious crisis due to the state not passing the budget for fiscal year 2015-2016. We feared we would deplete all of our resources and would need to stop delivering services to children and families. Fortunately, we heard about WPFSI through radio station WURD.
We contacted the good people at WPFSI who helped us work out a loan that would meet our needs. We are, needless to say, grateful for the sensitivity with which our request for help was handled. We will now be able to continue our services without interruption.
Thank you, thank you, thank you, WPFSI!
Peace & Blessings,
Joetta Moran Kersey
Pres/CEO
Village Care Family Services, Inc.
4950 Parkside Ave, 5th floor
Philadelphia, PA 19131
http://villagecarefamilyservices.org/new/
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]]>Calvin R. Tucker, Capital Manager, WPFSI, James Burnett, Executive Director, WPFSI, Reggie Long, Esquire, Love and Long Law Firm and the Executive Team of SUPRA OFFICE SOLUTIONS, INC met to close a $100,000 loan from WPFSI to SUPRA.
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]]>Calvin R. Tucker, Capital Manager, WPFSI & Fred Alston, Vice Chairman, WPFSI accepting a $500,000.00 check from Joe Schupp, SVP, Customers Bank for the capitalization of the WPFSI Progressive Small Business Loan Fund. Calvin R. Tucker, Capital Manager, WPFSI, Jabari Jones, Drexel Student & WPFSI Intern & Fred Alston, Vice Chairman, WPFSI accepting a $5,000.00 [...]
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]]>We are proud to announce....
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]]>What is an Asset-Based Loan? Typically, asset-based loans are based on the value of a business’ assets, specifically, accounts receivable and inventory. If for example, a business is highly leveraged or undercapitalized, an asset-based loan may provide a viable source of operating capital. This type of financing is based on the liquidation value of the [...]
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What is an Asset-Based Loan? Typically, asset-based loans are based on the value of a business’ assets, specifically, accounts receivable and inventory.
If for example, a business is highly leveraged or undercapitalized, an asset-based loan may provide a viable source of operating capital. This type of financing is based on the liquidation value of the account receivable and inventory and not the cash flow of the business. This is important when a business is over-leveraged i.e., too much debt and cannot afford additional debt.
Generally, asset-based loans are less difficult to obtain if a business has the following:
- Good financial statements,
- Customers who pay their bills,
- Good reporting system, and
- Quality and relative liquid inventory
An asset-based loan is a revolving loan since receivables and inventory are typically cyclical. Uses for this type of financing are as follows:
- Working capital,
- Equipment purchases,
- Cash flow
A lender, when analyzing how much to lend will lend between 25% to 40% of the value of the inventory or 75-80% of the value of the business’ receivables.
If you are considering an asset-based loan to help with working capital in order to meet your current obligations, please give me (Calvin R. Tucker) a call. I can be reached by telephone at 215-452-0100 or email at calvin@wpfsi.com.
Not sure if you’ll qualify? No problem, prequalify by answer 5 simple questions. Go here for details, Find Out If Your Business Qualifies for a Loan!
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