Long term working capital is the amount of money a company estimates that it will need to manage day to day expenses in the long term, as they grow. Without the right amount of long term working capital in place for future expenses, chances are that a business might struggle to pay bills or clear client invoices on time. In order to avoid such tricky financial situations, many successful businesses proactively build up funds that work as their long term working capital and come in handy during slow periods as well as during phases of growth and expansion, which call for extra funds.
Securing long term working capital is a responsible business practice since it can help support a business when it faces major challenges. Under such situation, securing a long-term working capital loan can be a great benefit to the business.
What is a Long Term Working Capital Loan?
A long-term working capital loan is a loan with a term longer than 12 months. There are many types of long term loans available for businesses from both banks and private lenders. Each has its own terms and conditions. A long term working capital loan typically has a lower interest rate than a short term working capital loan. Long term working capital loans give business are typically paid back on a monthly schedule.
Why Priority Lending?
Priority Lending is the right place to find hassle free long term working capital loans in Canada for your business. We understand the need and importance of a long term working capital for the growth of a business. Therefore, we have created a processes with a minimum turnaround time that ensures maximum approvals. Whenever you call us with your requirements, the first thing we will do is assign you a Priority Lending Financial Advisor who will attend to you and ensure that you have the funds you need in your account as soon as possible.