Are you a small business owner seeking the financial fuel to propel your venture to new heights? If so, then understanding small business loans and how to apply for them is crucial. In this step-by-step guide, small business loans and the application process will be demystified. With knowledge of your business loan options and insight about how to fill out a business loan application, you will feel less inclined to rush and will be able to position yourself for quick approval and success.

What to Know About Small Business Loans

Small business loans are the lifeblood of many entrepreneurial dreams. They serve as a vital source of working capital, allowing businesses to stay afloat, invest in growth, and ride out those inevitable cash flow fluctuations. When it comes to these loans, you’ll find a diverse array of options to explore, each tailored to meet the specific needs of businesses like yours. The most common choices include Small Business Administration (SBA) loans, term loans, and business lines of credit.

Let’s take a more in-depth look at some of these options:

Small Business Administration (SBA) Loans

SBA loans are government-backed loans designed to help small businesses access financing with favorable terms. These loans come in various forms, including 7(a) loans (general purpose loans), CDC/504 loans (for real estate and equipment purchases), and microloans (smaller loans). SBA loans are a decent option because they typically offer competitive interest rates and longer repayment terms.

Business Lines of Credit

Business lines of credit provide you with a revolving credit limit that you can draw from as needed. They are flexible and can be used for managing cash flow, covering short-term expenses, or taking advantage of opportunities. Similar to a credit card, you only pay the interest on the amount that you used.

Term Loans

Term loans are traditional loans where you borrow a lump sum of money and repay it over a set term with regular installments. You can use term loans for various purposes, such as expanding your store or giving yourself some working capital. Terms can range from a few months to several years, with fixed or variable interest rates.

Merchant Cash Advances

Merchant cash advances (MCAs) provide your business with quick access to cash, but they may come at a higher cost. Being that they are based off your daily credit card sales, MCA repayments are generally a percentage of said credit card sales.

Equipment Financing

Equipment financing loans are used to purchase machinery, vehicles, or other equipment for your business. The equipment being financed serves as collateral, making these loans more accessible and offering favorable terms.

5 Steps for an Easy Application Process for Small Business Loans

Now let’s take a look at the five steps needed to secure your ideal business loan and help it thrive.

Step 1: Define Your Loan’s Purpose

As with any journey, be it personal or business, it is always wise to chart your course first. This thinking also applies to securing a small business loan. Define the exact purpose of the funds you seek. Clear, concise planning not only sharpens your focus but also equips you with a robust blueprint for your business’s financial future. Whether it’s bolstering your inventory, expanding your operations, or investing in new equipment, a well-thought-out plan will be your North Star throughout this journey.

Step 2: Selecting the Loan Type and Amount

Small business loans are like tools in a toolbox, each designed for a specific job. One of the most important gauges for these tools is the APR (Annual Percentage Rate) – it’s your true indicator of the loan’s overall cost.

You should also select a loan based on your business. For emerging businesses, options like lines of credit and term loans are more accessible than merchant cash advances and SBA loans. The downside to using lines of credit is the higher interest rate.

For an established business, you have a bit more options. Since you have already proven your stability and credit history, you receive the benefit of lower interest loans or longer loan terms. Options like SBA loans, business credit cards, merchant cash advances, and a variety of term loans are available.

If you are unsure about which loan types are ideal for your small business, consider getting in touch with a local small business loan lender like New Bridge Merchant Capital to see what may work best for you.

Step 3: Choosing a Lender and Navigating Loan Requirements

Every type of small business loan comes with its own set of requirements. For example, if you opt for an SBA loan, you will need to double-check the following prior to submitting an application:

• Eligible Industry: Ensure your business operates in an industry that’s eligible for the type of loan you’re pursuing. Some sectors, like life insurance, might not fit the bill.
• Size Criteria: Depending on the loan, you may need to meet size criteria based on factors like the number of employees, net worth, or revenue.
• Business History: Most lenders prefer businesses with at least a couple of years of operational history.
• Funding Efforts: Be ready to show that you’ve made efforts to secure funding elsewhere.
• Business Credit Score: Maintain a business credit score above 140 to increase your chances of approval. You can check your business credit score either through Experian or PAYDEX.

Remember, lenders often set their own course requirements too. When choosing your lender, ensure they align with the specific loan type and their criteria suit your needs.

Step 4: Gather Your Documents

To navigate the loan application process smoothly, gather your documentation ahead of time. Keep in mind that different lenders will have their own set of documentation requirements that often expand upon what is needed to complete the loan application. However, there’s a common thread running through what most lenders typically request. Here is what you should have ready to complete the application process smoothly:

Business Information

This is the foundation of your application. Expect to provide basic details about your business, such as its name, address, and tax ID. But don’t stop there; some lenders may delve deeper and ask for a comprehensive business plan or proposal. Within the business plan or proposal, you’ll map out precisely how you intend to utilize the loan effectively.

Financial Statements

Lenders want to make sure that those they are lending to are financially healthy. Be prepared to furnish financial statements, including your annual revenue figures. These might encompass profit and loss statements, tax returns, and bank account statements, both for yourself and your business entity. It’s a financial snapshot that paints a comprehensive picture of your enterprise’s fiscal stability.

Collateral Information

Depending on the lender and loan type, you might be required to offer collateral to secure your loan. Collateral typically involves assets like real estate or equipment. It’s crucial to provide comprehensive information about the type of collateral you’re putting up and its assessed value. To bolster your case, consider having an independent auditor evaluate the collateral’s worth before diving into the loan application process. Keep in mind that traditional banks and SBA lenders are more likely to request collateral compared to their online counterparts.

Ownership Details

Lenders are keen to know who’s at the helm of your business. You’ll likely need to provide information about the business’s owners, including their names, Social Security numbers, and addresses. Expect this request, especially if any owner holds a significant stake in your company, often around 20% to 25%, depending on the lender.

Personal Guarantees

Most lenders will insist on borrowers signing a personal guarantee as part of the loan application. This is a critical document that establishes your commitment to repaying the loan using your personal assets if, for any reason, your business defaults. In some cases, additional business owners might also be required to sign personal guarantees, so be prepared to navigate this aspect of the process.

Step 5: Complete the Application

With your paperwork ready, you’re well-prepared to embark on the loan application process. Double-check that all required documentation is in order, review your application carefully, and when you’re confident everything is accounted for and correct, submit your application.

You can expect the wait for approval to take between 30 to 90 days, though it depends on the lender you chose and the loan type.

Ready to Apply for a Small Business Loan?

Applying for a small business loan does not have to be daunting. With the right guidance and preparation, securing the financing your business needs can be a straightforward process. Remember to chart your course carefully, from determining your loan’s purpose to assembling the necessary documents, and choosing a lender that aligns with your needs.

When considering your financing options, look no further than New Bridge Merchant Capital.  With over 20 years of financial industry expertise, NBMC’s tailored programs cater to your specific industry, business size, seasonality, and liquidity. Our commitment to clear communication ensures a transparent, seamless, and swift process.

Ready to begin your loan application process? Contact New Bridge Merchant Capital today by calling 844-228-0593 or by filling out the contact form. We’ll help you secure the funding your business deserves.

It’s undeniable that obtaining a small business loan in New Jersey for a startup with no revenue can be a daunting experience. However, there are still several realistic options to explore. While securing a startup loan without any reserves is always possible, waiting until your business has at least six months of seasoning puts you in the best position to finance your new enterprise.

Alternatively, if your company has been operating for at least six months, but you don’t have collateral assets or documented cash flow, holding off until your financial situation improves will invariably lead to better loan terms. Of course, for many entrepreneurs, putting their launch date on the back burner may not be a viable option. If you are in immediate need of startup funding, there are several potential avenues to explore for New Jersey small business loans that don’t rely on your existing cash flow.

How Do Small Business Startup Loans Work?

Startup business loans are crucial for supplying the initial capital many entrepreneurs need to establish new businesses. A diverse array of creditors advertise this type of funding, including alternative lenders, traditional banks, investors, and credit unions. Before you can obtain a startup loan, however, you’ll typically need an impeccable business plan.

Your startup’s blueprint should be organized, well-detailed, and include financial projections that show lenders how you aim to repay the funds. You’ll also have to fill out an extensive loan application, and most lenders will ask you to stake personal collateral if you have it. Once the creditor carefully evaluates your business plan, it will be able to assess the potential success of your venture and establish the loan amount, interest rates, and repayment terms.

Once the lender approves your loan and disperses the funds, the next step is to ensure you utilize the capital effectively. Adhering to the original business plan is essential since it creates the entire premise for your loan. Straying significantly from your plan might not only destabilize the business but also make it difficult to meet repayment obligations.

Open communication with the lender throughout the loan application process for low- or no-cash borrowers is critical. Entrepreneurs should maintain transparent and proactive communication, especially if they anticipate any issues with their loan file. When you keep the lines of communication open, you’ll only make it easier for lenders to find an agreeable solution. This approach will help ensure you don’t receive a loan denial or encounter any other negative consequences during the application process.

Common Funding Options for Small Business Loans in NJ With No Money

Startup businesses, or those with limited revenue streams, will always face challenges when seeking loans from traditional banks or the Small Business Administration (SBA). Luckily, if this describes your predicament, you can still find several alternative financing options. However, even if a business lender does not require substantial revenue, showing an ability to repay the loan is paramount.

Now, let’s explore a few popular alternative funding solutions below:

Small Business Credit Cards

One popular option for startups to consider is a small business credit card. These revolving trade lines function similarly to personal credit cards. They allow businesses to borrow up to a predetermined amount based on their current credit profile before paying the balance back down so they can access the funds later.

Some cards even offer perks, such as cashback on office supplies. Nevertheless, interest rates on business credit cards can be high, while the limits are often low and may not be enough to get your operations off the ground. Likewise, if you run your balances above 25 percent of the maximum approved limit, you risk lowering your FICO score.

Microloans

Microloans are another common financing option for startups. These loans, typically designed for businesses with small funding needs, offer amounts up to $50,000. Unlike traditional business loans, microloans may not have stringent revenue requirements at the time of application.

The Small Business Administration (SBA) and other government, nonprofit, and peer-to-peer agencies offer microloans as a means of supporting and encouraging startup ventures. Alternative lenders, too, like New Bridge Merchant Capital are similarly glad to review business proposals and determine if they can offer you a custom solution.

Equipment Financing

For businesses requiring costly industrial tools and machinery, equipment financing is often the most viable option, even without significant revenue. With this type of loan, the value of the equipment itself serves as collateral rather than your cash flows.

As a result, lenders may be more inclined to provide loans to startups that use valuable equipment. This option enables businesses to acquire the necessary tools for launching their new enterprise while spreading out the costs over time. The prospective lender should be able to offer a manageable equipment financing repayment plan to help you navigate the early stages of your operations successfully.

How Should You Approach Startup Funding With No Revenue?

Financing for your small business in New Jersey might seem next to impossible, especially if you lack sufficient earnings. That aside, there are steps you can take to increase your chances of securing a startup business loan even when you don’t have much cash on hand.

Begin by evaluating your assets. Lenders need to ensure you can repay the loan, so even if you’re not generating income, consider what other positive attributes you can offer. For example, if you can stake high-priced personal collateral or a strong credit history, this will present you in a more favorable light with business lenders.

Creditors often require a certain amount of money in your business bank accounts before considering your loan application. However, other lenders may be more forgiving of cash flow issues if you meet other loan requirements or have a positive credit history. Therefore, it’s essential to understand what the lending institution is looking for before applying.

Evaluating your own risks is also crucial when applying for a loan. Loan terms reflect the level of risk for lenders, with riskier loans typically having higher interest rates and shorter repayment periods. If you’re not confident in your ability to repay a loan without money in the bank, you may end up borrowing more funds to pay off existing debts. This can lead to a difficult cycle of debt that can be hard to break free from.

What Are the Pros and Cons of Taking on a Business Loan With No Funds?

Taking out a small business loan in New Jersey does have its pros and cons, especially when you lack the funds to start with. While it may seem challenging to secure funding without any existing revenue, there are certain situations where seeking a startup business loan can still be beneficial.

One of the main reasons startups look to small business funding is because they’re trying to get their operations off the ground. Yet withal, launching a new company requires initial capital for rent, inventory, equipment, payroll, and other operational expenses before you can start generating sales. If you anticipate only a short time frame before you realize substantial income to cover your loan payments, borrowing upstart money with no cash flow may be worthwhile.

Additionally, loans can be invaluable when you need funds to grow your business shortly after launching it. As your business expands, you may require additional facilities, inventory, payroll, and working capital. If you haven’t accumulated significant savings yet, loans can serve as the catalyst for growing your startup.

Furthermore, if your business operates on an invoicing system where customers expect payment at a later date, having access to cash is always crucial. Many businesses face the challenge of unpaid invoices, which complicates their revenue streams. In such cases, factoring or accounts receivable loans can be advantageous. Factoring companies allow you to sell a fraction of your invoices in exchange for an advance of a portion of the invoice amount, thereby converting your unpaid invoices into immediate cash.

Despite these advantages, there are also potential downsides to taking out a small business loan with no revenue. One significant concern is the obligation to repay the loan along with interest and fees, regardless of how well your business performs. If your business fails to generate sufficient income to meet these financial obligations, this could lead to further financial strain and prospectively force you to shutter entirely.

Another consideration is the potential impact on your credit score. A small business loan can affect your creditworthiness if you can’t make timely repayments. This could make it more challenging to secure future loans or lines of credit for your company.

Moreover, taking on debt without a reliable revenue stream can create additional stress and pressure, as you’ll need to ensure that your business thrives and meets all its financial obligations. It’s essential to carefully analyze your revenue projections and assess whether taking on a small business loan is viable under your specific circumstances.

Likewise, obtaining a loan as a startup or with no revenue history may result in less favorable terms and higher interest rates. Lenders often view these businesses as higher risk, which can lead to more stringent loan conditions. It’s crucial to thoroughly research and compare different lenders to find the best terms possible for your business.

Alternative Funding Options for Startups With No Revenue

For startups in New Jersey that are low on revenue and reluctant to take out a business loan, there are alternative funding options worth considering. Early-stage startups, for example, may be able to secure funds through venture capital or crowdfunding. Venture capital involves receiving investment in exchange for a percentage of ownership in the business.

This method of funding does not involve interest charges or repayment requirements, which can be attractive. However, understanding that accepting venture capital means giving up a portion of your equity in the business is imperative. Venture capitalists typically seek companies that display the potential for rapid growth and high profitability upon sale.

Some startups rely on crowdfunding, although this is a less reliable option. Crowdfunding is where entrepreneurs solicit donations from friends, family, and community members to support their businesses. Unlike venture capital, crowdfunding does not require giving up equity in the business. However, as mentioned, it may be challenging to attract enough funding through this method.

For established businesses in New Jersey, applying for small business grants is a viable alternative. Grants are essentially free money that does not need to be repaid. They award organizations with the funds and do not claim ownership in the business. Aside from general small business grants, there may also be case-specific grants available for minority-owned businesses and specific industries, depending on the nature of your startup.

While these alternative funding options may seem appealing, they also come with their own set of drawbacks. Venture capital, for instance, can result in a loss of control and decision-making power as investors gain a stake in the business. Additionally, crowdfunding campaigns require significant promotional efforts and may not always reach their fundraising goals. As for grants, they are usually highly competitive and not guaranteed, meaning businesses may invest time and effort in the application process without ultimately receiving any funding.

Looking for an Expert Consultation on Financing Your Next Startup?

While launching a new business with no money in New Jersey may seem like moving mountains, it is not entirely impossible. Small business loans can provide the necessary capital to get your startup off the ground and set it up for long-term success. Carefully planning and adequately researching all the available financing options can lead to the right startup loan that meets your needs without breaking the bank.

If you are considering launching a business in New Jersey and need financial assistance, don’t hesitate to reach out to New Bridge Merchant Capital. Our financial experts remain dedicated to helping entrepreneurs like you navigate the world of startup funding.

Contact New Bridge Merchant Capital today at 844-228-0593 for a one-on-one consultation. We’ll help evaluate your financing options. Or, consider starting an online loan application now. We’re ready to help you take the first step toward turning your business dreams into reality. Remember, with the proper support and financial backing, you can overcome virtually any obstacle and achieve entrepreneurial success in The Garden State.

When it comes to inventory management, there’s a lot at stake for New Jersey small business owners. An unexpected sales slump, late invoice payments, or equipment malfunctions can leave your business vulnerable, and expose you to critical inventory shortages, and even a significant financial shortfall. Fortunately, there is a viable funding option that helps smaller companies like yours safely plan ahead to help mitigate stock issues known as inventory financing.

Inventory financing is a short-term business lending solution, usually lasting up to a year or more. This type of loan assists businesses in covering their expenses or acquiring additional assets without staking their personal collateral upfront.

To help business owners better understand how this financing type works, the lending consultants at New Bridge Merchant Capital have put together the following guide covering the various benefits of inventory financing and how to apply for it. We’ll also discuss a handful of other popular alternative small business loans in NJ to consider as you search for the best working capital solutions for your organization.

What is Inventory Financing?

Inventory financing plays a vital role in running countless successful small businesses. Companies frequently leverage this financing type when they need to purchase products to sell at the peak of their seasonal fluctuations. In contrast to other familiar NJ business loans, inventory financing offers an attractive lending structure that requires no personal collateral. Instead, creditors use your existing inventory to secure the loan in the case of a default.

Inventory financing enables businesses to purchase merchandise to satisfy their large seasonal orders and capitalize on other time-sensitive opportunities. The secured loan basis for inventory financing makes it a relatively low-risk option for lenders since there is no need for additional collateral, and the inventory itself is sufficient enough to make the loan.

You can access this type of financing from several lending entities, including traditional banks, commercial finance companies, and alternative business lenders. Before creating the loan, these creditors will ascribe a value to your existing inventory used to secure the proposed funding.

During this process, they’ll also establish a basis for assessing your creditworthiness and the maximum loan disbursement amount. It is, therefore, crucial that you work closely with your preferred lender to gather all the pertinent financial documents that can demonstrate the fiscal strength of your business, the value of your inventory, and your company’s ability to repay the loan.

The terms of inventory financing vary from institution to institution and come with different processing fees, repayment periods, and interest rates. Closely examining borrowing costs and comparing multiple products and terms will give you a more comprehensive view of which loan structure is right for your specific application.

How Inventory Financing Works

Inventory financing for small businesses is a popular form of asset-based financing that gives retailers and wholesalers, especially those with a large amount of available stock, fast access to working capital. Small to medium-sized companies often lack the financial history and dispensable assets to secure the institutional-sized financing options that larger retailers can. For this reason, many smaller companies opt for inventory financing to ensure sufficient stock levels.

Smaller companies are generally private. Thus, they can’t raise money by issuing bonds or new rounds of stock. Without access to traditional financing solutions like these, businesses have increasingly turned to inventory financing as an alternative for funding their general operating expenses.

While inventory financing is an effective way to generate working capital quickly, it’s also critical for ensuring uninterrupted operations and protecting your business from experiencing an unexpected loss. Inventory financing allows companies to purchase the necessary materials to manufacture products they intend to sell at a later date and improve their cash flow management.

Inventory financing also provides both short- and long-term benefits. It allows companies to purchase enough materials to avoid losing potential sales due to shortages or limited stock. Moreover, it helps protect against overstocking. This problem can lead to a decrease in cash flow due to carrying excess inventory, which is especially important during seasonal fluctuations when overstocking becomes a burden.

Which Types of Businesses Benefit From Inventory Financing?

Whether you need to order a new line of products or boost your stock levels to support an increase in demand, inventory financing is often vital to running countless successful small businesses.

The financing solution lets smaller companies attain the funds they need to cover the cost of ordering and stocking their inventory while protecting them against the rising expenses associated with raw materials. Inventory financing can provide substantial relief for any business that faces a sudden spike in demand or needs to cover the steep costs of procuring seasonal inventory.

Retailers

Retail is a good example of one business type that frequently benefits from inventory financing. Department stores cover a range of product categories, from shoes and clothing to jewelry and housewares. Specialty retailers, on the other hand, emphasize a specific class of products such as toys, sports equipment, or greenhouse supplies. In either case, inventory financing can provide the financial flexibility needed to replenish stock during periods of peak demand.

Wholesalers

Wholesalers are warehouse retailers who sell their products in bulk at reduced prices. As a result, their inventory needs are much larger than those of other businesses. Inventory financing can provide the extra financial support required to stock up on products at scale.

Seasonal businesses

Seasonal businesses also rely heavily on inventory financing. Taking out an inventory loan lets them manage their stock levels while keeping up with the increased demand. Many seasonal companies experience a substantial spike in customers or clients during specific occasions like holidays, summer vacation, winter months, or sporting events. Moreover, by utilizing the funding, they can manage these changes without taking on too much debt at once.

Inventory Financing vs Business Loans

Understanding the differences between the various business loan types is a vital part of the decision-making process for any company seeking extra working capital. By comparing and contrasting the advantages and disadvantages of each loan, you’ll be able to make an informed decision about which financing option meets the needs of your unique business.

Inventory financing isn’t secured in the traditional sense, yet it still provides capital for companies to invest in stock purchases and continue meeting customer demand. Inventory loan rates tend to be higher than conventional financing options. The extra borrowing costs could be an expensive funding solution for some businesses. However, due to their collateral-free nature, your company can secure this financing type quickly to ensure you have the funds available when needed.

On the other hand, traditional business loans are secured capital that organizations receive from conventional banks or financial institutions. Companies typically use these loans for capital investments such as equipment and office space.

The terms for traditional business loans can vary depending on the lender, but they often have long-term repayment periods and lower interest rates than inventory loans. Additionally, traditional business loans often come with flexible payment schedules, and the qualification process can be substantially more involved than it is for inventory loans.

Inventory Financing vs Trade Credit

Inventory financing and trade credit are two of the most common small business working capital solutions. Both methods have advantages and drawbacks that we’ll touch on in more detail below.

Small businesses that lack the liquidity to purchase their inventory outright frequently use inventory financing to restock. Creditors provide these loans based on the value of the goods purchased along with any existing inventory, up to a certain percentage. The business will then use the loan to acquire the inventory and leverage it to generate revenue.

Trade credit is also a popular financing option for small businesses. It allows them to purchase inventory from vendors on credit instead of paying for it upfront. The vendor will agree to extend the business credit for a specified term, during which the business is expected to pay for the acquired inventory. In exchange for the proposed terms, vendors usually charge a fee for the privilege of using their services.

Similarities between inventory financing and trade credit include the fact that they both represent a means of financing a business’s inventory purchases. Both can be obtained from either a lender or a vendor, and they each provide a short-term solution to cash flow constraints.

The primary difference between inventory financing and trade credit lies in the source of funds. With inventory financing, the lender provides the entire amount needed to purchase the inventory upfront. Trade credit, conversely, only provides enough funds to cover the cost of the new stock purchased on credit terms. Likewise, with trade credit, there is usually more paperwork involved to establish the agreement. However, the terms and pricing are often more favorable than inventory financing.

Inventory Financing vs Asset-Based Lending

Many small businesses depend on financing to purchase, store, and distribute inventory. Two common types of financing strategies are inventory financing and asset-based lending. Each type of financing has its own unique advantages and disadvantages.

Businesses use inventory financing primarily to purchase inventory from vendors without using their existing cash resources. They deploy this strategy to expand their inventory and meet increased customer demand. When you utilize an inventory financing loan, your business will borrow a set amount to cover the cost of the new stock upfront, repaying the loan later on with future sales proceeds.

While you should consider inventory financing a type of asset-based loan, asset-based lending products typically staking non-inventory collateral to secure the loan. These loans not infrequently often put more emphasis on your personal or business collateral than your creditworthiness.

Businesses that use asset-based loans frequently to fill operational gaps that occur when short-term demands exceed long-term sales projections. With this loan type, the disbursement amount is secured by a percentage of the business’s current assets, such as accounts receivable, or other collateral like personal property and industrial equipment.

As opposed to inventory financing loans, asset-based loans provide businesses with access to larger amounts of money over a longer time. The repayment terms can be more favorable since they’re established by a set percentage of your accounts receivables, as opposed to an obligation to repay with the proceeds from your future sales.

Inventory financing is generally more suitable for businesses with seasonal demands or customers with a high need for product replenishment. Asset-based loans, in contrast, work better for companies that have to cover substantial and ongoing operational costs.

Applying for Inventory Financing

Business owners looking to increase their inventory usually find inventory financing a viable solution. Before taking out a loan like this, you’ll need to familiarize yourself with the necessary steps to apply. To ensure a successful application process, you should have a keen understanding of your liquidity, turnover, and sales history.

When applying for inventory financing, expect the lender to ask for documentation such as sales history, profit and loss statements, sales projections, cash flow statements, and a business plan. These documents will provide insight into your business’ likely liquidation value and its prospects for successful inventory sales. To ensure they find the best fit for borrowing their inventory, business owners should do their due diligence and research all available options.

If you’re planning on applying for inventory financing, here is a reliable list of steps to follow:

• Research all available loan products
• Gather necessary financial documents
• Draft a reliable business plan
• Project future inventory liquidation value and sales
• Compare different offers and select a lender that meets your needs

Where to Apply for Inventory Financing in NJ

With additional inventory, businesses have the ability to produce more goods and purchase costly items while maximizing their profits. By working with a reliable financing partner, you’ll ensure your business is making the most of its available resources.

New Bridge Merchant Capital is among the leading finance companies in New Jersey. We offer best-in-class service, fast loan approvals, competitive rates, and quick turnaround times.

Whether you need to purchase inventory or just want to cover operating expenses, our team of experienced lending professionals is here to help. Contact New Bridge Merchant Capital at 844-228-0593 for current pricing, or fill out our online application to get started today.