When operating a small business you need to have financing options in case you face cash constraints. This is especially when running a small or medium-sized business SME which makes some options such as banking and traditional bank loans become quite difficult to handle because they tend to take a lot of time to process, require a lot of paperwork and are not sure financing options.
Asset financing, however, can take your business to the next level. Since asset financing options are vast, you have the ability to decide what works and what does not. Although Banks offer you some options, at Momentum credit we give you the best solutions to fit your business needs. This is because of our simplicity and timely operations making us an ultimate solution for all your business needs.
What you stand to gain with Momentum Credit.
When thinking of asset financing in a traditional bank set up, giving up on your asset is the only options you have. This too is not a sure option as it requires you to undergo long and unforeseeable options and may not get the best value thereafter. But not with Momentum Credit, At Momentum Credit we offer you quick and affordable solutions and you do not need to meet a lot of criteria like having an account with us for 6 months.
Working capital loans
When looking for cash for operational business activities, Momentum Credit offers solutions in form of invoice financing with invoice factoring and invoice discounting, car logbook loans and advance payment guarantees APGs.
Car Logbook Loans
While at banks all you need to do is to free up some asset into cash, at Momentum Credit we allow you to the keep possession of both. This is because we let you have the car, drive it and do everything you want, while having the loan. Although we transfer the ownership of your car, this does not constrain you to anything unless you fail to honor our agreed monthly payments.
We offer up to 50% the value of your car and can give a loan up to 5,000,000.00 with flexible agreeable monthly payments. The amount of duration you take to pay the loan also depends on your ability. Click here to find out more about how to get a logbook loan.
This is also another viable option especially for a small or a medium-sized business. For invoice financing, you can, however, choose either invoice factoring or invoice discounting. Whatever the option, Momentum Credit offers up to 85% the value of your unpaid invoice and can wait up to 90 days for your customers to honor their payment agreement.
For invoice factoring, you give us the customer’s invoices and we give you the agreed amount of cash, we then follow up with your customers to make their payments. This is ideal for small business in need of immediate cash to finance other business activities that cannot wait for example paying out suppliers or employee dues, yet they do not have the time and staff to keep payment records and follow up on customers’ unpaid invoices. To find out more about invoice factoring click here.
Invoice discounting, however, takes this to a new direction. With invoice discounting, we check all the invoices that are due to be paid by your customers and decide an amount that we offer you. We then agree on monthly payments that you will be paying all though until is over. This is ideal for a business that is in need of asset financing but still wants to be in control or its ledgers. This might be due to confidential business. As the customers will not have to know whether you are using an asset finance option this makes invoice discounting a win-win situation.
When securing a contract you need to offer an Advance payment guarantee (APG) to bind the awardees of the contract to your contract. At momentum credit, we offer Guarantees solutions in form of Bid bonds and performance bonds. Bid bonds allow you to tender for contracts and tenders by giving satisfaction to the obligee that in case you are not able to supply or commence and complete the construction, you will finance them to the next closest tender expense.
Performance bonds, on the other hand, are issued by the successful supplier to the bidder to serve as a surety that the products will be supplied according to the tender agreement. We can offer you a performance bond within 24 hours and you do not need to open an account with us. To find out more about performance bonds check out our products.