Lawn Care Financing to $600,000
Is your lawn care business in need of additional funds? Look no further! We can provide your lawn care business with up to $600,000 in as little as 24 hours. Apply now with no obligations, impact to your credit score, or fees.
Lawn care can be a profitable endeavor, but it can also be capital intensive which may mean you may need to consider using lawn care business loans to cover costs or expand. While you may think you only need a lawnmower and a few tools to get your lawn care business up and running, it can require specialized tools, especially if you’re operating on a large scale. Read on to learn everything you need to know about landscaping business loans.
How Landscaping Business Loans Can Help Your Business
As a business owner, you might be faced with an increasing need for cash flow for a variety of reasons. Here are some of the most common uses:
Hire and Train Employees
Employees are one of the most important resources for any organization. Any business that wants to survive or even stand out from the competition must invest in its employees. It’s no different for landscaping businesses. However, if you’re a sole proprietor or run a medium-sized business, then chances are you may not have the capacity to train or hire employees.
If that’s the case, your best option may be to seek additional funding. However, your lawn care business could grow by leaps and bounds with more employees on board.
Payroll Expenses
It may be a daunting task to keep up with payroll, especially if you have many employees. As a result, you may be forced to outsource, which brings benefits such as ensuring employees are paid on time. Outsourcing payroll to a bookkeeper or accounting firm can reduce accounting errors which can have dire consequences for your lawn care business.
Additionally, outsourcing can help you concentrate on what’s most important, and that’s running your business.
Buy or Maintain Landscape Equipment and Vehicles
One of the primary reasons landscaping businesses secure funding is to purchase new equipment, repair faulty or broken equipment, or maintain equipment to ensure things are working optimally. In addition, lawn care businesses may take loans to procure both small and large equipment.
Supplies and Inventory
Keeping up with supplies and inventory is crucial to the survival of any business. Expenses such as gas or oil can end up bloating your costs, especially if your landscaping business is in the growth phase.
Increasing your cash flow via loans will help you purchase essential supplies and outsource a bookkeeper if need be to ensure you’re set up for your lawn care business to run smoothly.
Social Media and Marketing
The landscaping industry has grown tremendously over the years, and because of the huge returns, there’s stiff competition. If you want to rise above your competition, it’s paramount to market your business.
One of the most effective ways to reach a larger customer base is by leveraging social media. One of the advantages of social media is that you can market your business yourself if you have time. If you’re not too tech-savvy, then you might consider taking out business loans to hire a professional to market your business.
One of the most effective marketing methods for landscaping business owners is content marketing, a long-term marketing strategy that results in organic traffic. If you don’t know how to go about it, you should consider hiring an experienced writer.
Cover Insurance Costs
It’s important for landscaping and lawn care companies to have all the appropriate insurance coverage in case of an accident or other issues. Insurance for your landscaping business goes beyond the equipment.
You should also consider insuring your employees, if any, as well as your business premises. However, insuring your landscaping business in its entirety can add to your expenses, and you may not be able to raise the cash yourself even if you run a lucrative business. If this is the case, you should consider applying for a small business loan to cover your insurance needs.
Lawn Care Business Financing Options
These are common options for securing loans for landscaping companies and other related small businesses:
Merchant Cash Advance
Unlike traditional funding from banks, you receive a lump-sum payment with a merchant cash advance, and there is no fixed repayment term or fixed interest rate. Instead, the money is repaid from a percentage of the sales your business makes.
A merchant cash advance for lawn care business is convenient in that you can receive cash for business expenses in a matter of one day. Once your loan application has been approved, you may be able to receive up to $500,000.
Click here to see if your business qualifies!
Equipment Financing
Most landscaping businesses will need a good deal of equipment to operate, and thus equipment financing might be a good option. It’s easier to qualify for this type of loan because the item you’re buying will act as collateral.
Depending on the lender, you can apply for your equipment financing loan purely online, while in some cases, you’ll need to visit your lender’s physical location. It’s typically better to take a loan to buy equipment for your lawn care business loan than renting, which can eat into your profits.
Business Line of Credit
One of the primary reasons why you should consider a business line of credit for your landscaping business is the flexibility it provides. Once you’re approved, you can pull from your line of credit whenever you want, up to the credit limit. Then, as you repay the loan and the balance goes down, you can borrow from it again – just like a credit card.
Business lines of credit allow landscaping companies and other lawn care businesses to access funds whenever they need them, providing a quick cash flow solution.
Invoice Financing
Invoice financing is a type of business loan that uses unpaid invoices as collateral. As invoices are paid, a portion of them goes to paying back the loan. Invoice financing has several advantages, including no need for collateral or your credit.
Working Capital Loans
If your business is in the growth stage or you need extra cash injection because you have exhausted your cash flow, you should consider applying for a working capital loan for your landscaping business.
Working capital loans are used to fund your business’s daily activities, including invoicing, inventory, employee payroll, miscellaneous expenses, and maintaining equipment.
Small Business Loans
Another option for accessing landscaping loans is with small business loans. A traditional business loan will allow you to access a lump sum with specified repayment terms. You’ll also pay interest on the loan. One disadvantage of small business loans is that you may have to repay them in a relatively short timeframe.
SBA Loans
Small Business Administration loans are considered among the best options for landscaping business loans. They have flexible payment terms and generally low-interest rates. There’s a good reason for this. An SBA loan is 85% guaranteed by the SBA, making them less risky to lenders, and thus they often come with more favorable terms than alternative financing options.
However, these types of loans are highly competitive, and you’ll typically need a couple of years in operation to qualify for lender approval.
Credit Cards
If all else fails, you can use your business credit card to acquire funds for your business. However, be aware that you’ll likely pay the most in interest with a credit card. Therefore, you should consider using credit cards with a 0% APR to enjoy set periods of no interest rates.
Where to Get a Lawn Care Business Loan
There are limitless options when it comes to finding small business loans. Here are a few factors that are worth considering before choosing which type of loan to pursue:
- What you’re hoping to finance
- The status of your cash flow
- How long your business has been in operation
How To Apply For Landscaping Business Funds
Applying for landscaping business funds at mCashAdvance™ is quite simple. All you have to do is apply on our website, fill out your application. You’ll know if your loan has been approved in a matter of hours.
Other Industries We Finance
Lawn Care Financing Frequently Asked Questions
Yes, you can use a business acquisition loan as a way to acquire another lawn care business. Be sure to analyze the financials before committing to purchasing another company. You don’t want to buy someone else’s headache.
We are able to offer qualifying lawn care business owners up to $500,000 in funding with no collateral required.
Even if you have bad credit, some lenders will still offer loans to landscaping company owners. However, most lenders will require you to have a credit score of at least 670 to qualify for more favorable terms.
Many factors affect the term of a small business loan, including the type and amount of the loan. Small business loans usually last between a few months and several years.
Funding Your Business Is Our Business
Grow Your Business With a Landscaping Business Loan
Running a lawn care company requires a lot of resources, including time and money. Thankfully, you can concentrate more on running your business than funding it when you secure a landscaping loan. Just make sure you understand eligibility requirements, your business needs and situation, and which loan is most appropriate for you before applying.
Find The Best Payment Processing For Lawn Care Businesses
Lawn care businesses that accept credit cards as a form of payment are better able to secure funding in order to grow. Residential clients are a common cash source of income for lawn care businesses, but accepting cash can actually hinder your ability to get financing when this is needed to grow. With mCashAdvance’s™ free credit card processing service, it’s easy for lawn care businesses to accept and process credit cards. Unlike other credit card services, ours does not charge fees for processing each credit card. That way, your business has one less expense to bear and you do not have to pass the fees on to your customers. Paying a small monthly fee allows you to process an unlimited number of credit cards.
Does Your Business Need Funding Today?
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$5,000 – $1,000,000
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