We know all the routes to take
to get you the best business loan
United Capital Source has access to numerous small business loans designed to decrease recurring expenses for limousine companies and maintain large fleets of up-to-date vehicles. Long-term programs, like SBA Marketplace Loans, are suited for replacing expensive models or expanding your fleet. You can borrow large amounts and take several years to repay the debt in full. Interest rates are lower than traditional SBA Loans from banks.
For less costly endeavors, we would most likely recommend short-term programs like merchant cash advance, business line of credit, or a standard working capital loan. Flawless cash flow is not a mandatory requirement for these options, which can therefore be accessed at virtually any point in your financial cycle. Many clients use them to cover expenses during a slow period, pay for unforeseen repairs, or hire additional drivers ahead of a busy period, like prom week.
Let’s make those insurance premiums go down
Since insurance costs are often the underlying obstacle for growth, you can also use small business loans to make premiums go down. Discounts are typically rewarded for companies that can make pre-payments. This is primarily because few companies can afford to put down so much money amid unstable cash flow. But we can negotiate terms that do not force you to make large payments when business is slow or stagnant.
Other ways to lower insurance premiums include paying for additional driver training courses, or specializing in shorter trips. The latter is only possible, however, for companies that consistently market themselves as the go-to source for winery tours or local tourism excursions. With a business loan against credit card sales, you could launch an advertising campaign in the months leading into a busy period and then pay off the debt with the increase in revenue that occurs later on. The same concept can be applied to hiring more drivers or prepaying insurance premiums so you can have more money to spend on preparation. Apply now to see how much you qualify for!