concrete financing

Concrete Financing

Crystal Business Funding provides Concrete Financing. Apply Now for quick and easy working capital  for your business.

Being able to obtain financing is important for any business, especially for businesses in the concrete industry.

Types of Concrete Business Loans

There are a couple different types of business loans depending on the needs of your concrete company:

1. Equipment Financing: 

Equipment financing is really good for businesses that don't need working capital, but rather want to purchase specific equipment. Equipment requires upfront funding, but with equipment financing you can get a loan on the equipment and pay it off slowly.

2. Online Loans: 

Most online lenders provide fast & easy working capital. Online lenders usually work way quicker than banks, and have less requirements. Online lenders offer a couple different financing solutions for concrete companies, depending on your needs.

3. Invoice Financing:

Invoice factoring is when you take out a loan against outstanding invoices.

4. SBA Loans: 

SBA loans can be beneficial for concrete companies, providing lower interest rates & longer terms. But SBA loans are more difficult to obtain.

Online Lenders for concrete companies 

Online lenders change the way Business Owners operate their business, by providing a faster and more convenient way for businesses to secure financing. Now with online lenders, business owners don't need to wait a couple of months for funding. Here's how online lenders work and how they are different than from banks:

1. Speed: 

Online lenders typically offer a quick application process, usually just requiring a one page appointment, and the last 3 month bank statements. Approvals usually take a couple of hours rather than a couple weeks with banks.

2. Requirements:

Online lenders don't have anywhere near as many requirements that banks have. Most online lenders requirements are, ¹be in business for at least a year, & ²your business must be doing a minimum of $15k in monthly sales.

3. Flexibility: 

Business owners that don't have the greatest credit score may still qualify for loans with online lenders. Unlike at banks, where the first thing they check is your credit score.

4. Unsecured: 

with an online loan, there isn't any collateral required, making the process easier, and is better for business owners that don't want to put their property at risk.

Qualifications for Concrete Loans

To get a business loan for your concrete company you have to meet certain qualifications. The exact requirements depend on the lender and loan type, but here is the overall basic qualifications required when getting a business loan for your concrete company:

1. Revenue: 

The first thing online lenders will look for is  consistent revenue. If now and then, the revenue wasn't the best, most lenders should be fine with it. 

2. Credit Score: 

Online lenders are more lenient when it comes to credit scores, but having a good credit score will definitely improve your chances of approval and result in better loan terms.

3. Time in Business: 

Lenders prefer businesses that have been operating for 1 year. However, some online lenders may provide financing to businesses as new as 6 months, if other requirements are met.

Applying for Concrete Financing

Step by step application process for concrete financing with online lenders:

1. Research Lenders: 

Start by researching online lenders to find a lender that provides capital to your industry.

2. Apply: 

Fill out the lender's application, and provide any other necessary documents.  Once the application is submitted, wait for an approval, it usually takes around 6 - 8 hours for the lender to get you approved.

3. Review Offer:

Once you receive an approval, review the terms, make sure it works for you.

4. Accept the Loan: 

After selecting the best offer, complete any remaining paperwork and accept the loan. Funding is usually right away, as quick as within an hour from accepting the loan.

Maximize the Concrete Financing that you receive

To make the most of your concrete financing, do the following:

1. Use Funds right: 

Obviously, use the funding in places that will help the business grow.

2. Cash Flow:

Keep an eye on your cash flow to ensure you can make the loan payments.

3. Relationship:

Building a relationship with your lender can be very beneficial for the future. Communicate with your lender & make payments on time… 

Concrete financing will help you run your business smoothly. Understanding the loan options available for the concrete industry will help you obtain the funding you need to scale your business more efficiently. With online lenders, you will be able to access financing needed for your concrete business. Whether you need a business loan for equipment, working capital, or expansion, online lenders can provide the funding easily & smoothly.