Porter Capital announces additional financing products for companies receiving PPP loans
BIRMINGHAM, Ala., January 11, 2021 / PRNewswire / – Porter Capital, a leading provider of accounts receivable and asset-based finance solutions for businesses nationwide, has announced it will provide additional financing to companies in need of more than their current PPP loan offers.
“With the signing of the new COVID-19 stimulus package, many small business owners can apply for another round of paycheck protection program loans. In some cases, companies will find that the PPP loan amount is not enough, or they are no longer eligible. loans from traditional banks can lead to a long approval process and may not be approved at the end of the process, ”said SVP, national sales manager, John cox miller.
With the financing of accounts receivable and loans on assets, Porter Capital can provide additional financing solutions for businesses in need of additional working capital. AR Financing turns unpaid invoices into immediate cash and is beneficial for those operating in the B2B space with clear repayment terms. The process doesn’t cause a business to incur additional debt, and with Porter Capital, a business can request and receive funds in just one business day.
With Porter’s asset-based loan product, a line of credit is secured with assets serving as collateral. Company-owned inventory, accounts receivable, equipment or other property all qualify as collateral with Porter Capital. The line of credit can be used to cover additional expenses not covered by the PPP loan forgiveness, especially in the event of late payment of invoices. To be approved, a business must display enough cash or assets to cover the loan.
To learn more about how Porter Capital can provide your business with additional financing to go along with your PPP loan, visit: https://www.portercap.com/apply-now/.
About Porter Capital:
Porter Capital Corporation was founded in 1991 by brothers Marc and Donald Porter in Birmingham, Alabama. Porter provides working capital solutions to businesses across the country in a variety of industries. As a direct lender and factoring company, Porter Capital has provided over $ 6 billion in financing since its inception. Porter Capital offers invoice factoring and asset-based lines of credit up to $ 15 million. Since the founding of the company, Porter Capital has grown to include a special transportation division known as Porter Freight Funding. Porter’s businesses continue to grow by providing working capital solutions, with a focus on personalized and dedicated customer service without sacrificing speed and efficiency.
To learn more about Porter Capital Corporation and how it can be a provider of working capital solutions for businesses, call 1-800-737-7344 or visit its official website website.
Blake van leer
SOURCE Porter Capital