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Daycare centers earn revenue via monthly fees. But sometimes, you can’t wait until the end of the month to solve a problem or pay an incurring expense. For businesses looking to minimize the impact of their business cycles (the time between performing a service and getting paid), we typically recommend a Business Line of Credit. With this type of working capital loan, the business has a revolving credit line they can use for business expenses and only make payments when they have a balance.
So, while still being paid monthly, the business can pay recurring as well as unforeseen expenses incurred in the running and growth of the business.
Need new equipment or renovations? A business line of credit lets you pay for them now, since waiting comes with the risk of presenting an outdated, unsafe appearance to parents.
For other significant expenses, like increasing staff or marketing campaigns, we offer several business loans that do not feature fixed, monthly payments beginning immediately after funding is distributed. New staff members and marketing campaigns are alike in that they take months to finance themselves. Many UCS clients take out different working capital loans to finance long-term investments, since they wouldn’t have to make their largest payments until the staff or campaign are actually bringing in more sales.
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We are also aware that daycare centers are often run by women, who statistically tend to start their businesses with less working capital than men. At United Capital Source, we do not believe that challenges exclusive to women should stop them from receiving the funding and terms they have rightfully earned. This is why we facilitate special small business loans for women. As long as you can prove steady revenue, we will likely work around obstacles like poor credit or limited funds to ensure you receive the same rewards as your male counterparts. Apply now to see how much you qualify for!