Although most people consider business loans to be a long term affair, a short term loan can prove to be a lifesaver when cash flow becomes restricted.
Businesses often experience cash flow problems at the worst possible time – during a period of growth. And it is difficult to grow without access to cash. Savvy business people make their assets work for them, but it’s not always easy to benefit from a fixed asset in the short term. Trying to juggle finances in a ‘robbing Peter to pay Paul’ scenario is not only stressful, but something will inevitably have to give at some point and someone, somewhere is going to be short changed.
Regardless of how well they plan, most business owners go through a time of financial drought at some stage. It’s an extremely unpleasant position to be in. After all, although creditors may be somewhat understanding about the predicament, they still need to be paid. Likewise, staff need to be remunerated. Losing a key member of staff because there’s not enough money to keep them on is only going to hurt the business in the long term and every effort should be made to ensure that this never happens.
Prevance Capital not only understands the challenges faced by modern business people, it has a solution in the form of an easily accessible short term business loan for the medium enterprise business owner.
Prevance has come to the aid of numerous business owners over the years and has provided funds in the form of short term loans for a variety of projects. It has also stepped in when funds have been required to kick-start a property development pending the activation of a development bond from a bank. In addition, it has provided much needed cash when businesses pre-sell goods and need capital to buy the necessary product.
Loans ranging from a minimum of R500 000 to R7-million are available for a loan period of between six and nine months to those who qualify. Loans are restricted to legal entities in the form of companies and close corporations. In order to be eligible, applicants need to show that they will in future acquire the means to pay back the loan and provide security in the form of unencumbered property which is double the value of the loan.