Most businesses managing fluctuations in cash flow experience short-term needs for additional working capital. Your business may experience diminished working capital for very fundamental reasons, like the purchase of inventory, or more complex reasons, such as a facilities expansion. In many cases, you can quickly solve the challenge with a short-term loan.
Once defined, the need for supplemental cash requires a practical, timely solution. In many standard banking relationships, this would be difficult or impossible. At SLK Finance, we match the simple need for short-term cash with flexibility and responsiveness to provide you with the funds you need.
Our clients find our short-term loans attractive because we make the process easy and cost effective compared to other options. Most of the short-term business loans we provide are for durations as brief as 45 days or as long as 24 months. We’ve optimized our process and can provide funds within 24 hours of closing.
SLK’s prompt and responsive approach is just what one of its Midwest clients required. Growth and success for this software developer meant an increasing amount of corporate customers who manage their balance sheets for shareholder value. These large customers were routinely extending terms to make better use of their cash, particularly at year-end, which resulted in cash constraints. The situation for the developer could eventually correct itself but not without damaging other relationships by delaying payments and other commitments.
Once the trouble was identified, speed and a fair solution were important. Working closely with the client, the SLK team evaluated the situation and the supporting financial information and proposed terms within 24 hours for a 90-day, short-term loan that included no prepayment penalty. SLK transferred funds to the developer within a few hours of closing.
In another scenario, SLK helped a Wisconsin-based manufacturer of seasonal products ramp up inventory prior to production. Like many businesses with primarily seasonal demand for their product, this company faced limited working capital until product shipments and invoicing began. The lack of cash each year was limiting the growth of the manufacturing business that utilized vendors with 4- to 6-month lead times.
SLK was able to review and develop an understanding of the factors limiting the businesses growth as well as the financial information the client provided. Within 24 hours, we proposed a 60-day loan that would better prepare the manufacturer to meet customer demand and help the business through a critical time of growth. Then, we transferred funds within 24 hours of closing.
Both situations serve as great examples of the close working relationship the SLK team develops with its clients and the timely results it produces. Working closely and providing solutions builds long-term relationships, and both clients have since returned to SLK for additional offerings.