Balboa Capital Survey: 95% Of Businesses Will Need Additional Working Capital During The Next 12 Months
November 22, 2013 --
Irvine, California (PRWEB) November 22, 2013
A new survey conducted by leading equipment leasing company and small business loan provider Balboa Capital reveals that 95% of business owners in the United States will need additional working capital for their companies during the next 12 months. Balboa Capital sent its online survey to more than 300,000 business owners in a wide variety of industries to assess their financing needs and gauge their knowledge of working capital loans.
Small and mid-sized companies have found it difficult to secure traditional business loans and lines of credit from banks and credit unions, but working capital loans are an excellent alternative, said David Van Patten, Business Funding Director at Balboa Capital. Based on the results of our extensive survey, many business owners are not familiar with working capital loans, and our goal is to make them aware of this convenient financing option. In addition to publishing the results of our survey, we developed a working capital loan whitepaper and working capital loan infographic, both of which can be downloaded free from our website.
Key Results of Balboa Capitals working capital loan survey:
- 95% of business owners will need working capital during the next 12 months for inventory, receivables, employee payroll and marketing, among others
- Nearly half of all business owners will need working capital for expansion efforts and/or new equipment purchases during the next 12 months
- 43% of business owners are not familiar with working capital loan options; 13% are very familiar with them
- 27% of business owners applied for a working capital loan at a bank; only 19% of them had their loans approved
- An easy loan application process, fast funding and solid reputation are the top three things that business owners look for in a working capital loan provider
Working capital loans are designed to address the short-term capital needs of businesses; they can be used to fund a broad range of day-to-day operating expenses. Balboa Capital specializes in working capital loans and offers them to businesses nationwide. We make it easy to get a working capital loan. Business owners can apply online from any computer, laptop, tablet or mobile device, and we will provide them with a fast credit decision, said Mr. Van Patten. He adds, A great credit score and extensive collateral are not needed, and we can provide up to $250,000 in as little as five days.
To learn more about working capital loans and the other small business loan products available from Balboa Capital, contact David Van Patten at (855) 816-7921 or via email at davidmv(at)balboacapital(dot)com.
About Balboa Capital
Balboa Capital is one of the largest privately-held independent finance companies in the United States delivering access to capital, speed of processing, dependable funding, state-of-the-art technology and innovative marketing tools that small and medium-sized customers require to fuel their growth and success. Celebrating 25 years in business in 2013, Balboa Capital markets its products through their small ticket, middle market and vendor sales channels. The companys variety of financing products includes equipment leasing, commercial financing, small business loans, equipment vendor financing and franchise financing. For more information, and to hear Balboa Capital reviews from actual customers, visit http://www.balboacapital.com.
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