Small business loans are often provided to businesses who are looking for extra capital to either expand or purchase inventory. An ISO Agent must look at various factors to ensure a loan can be provided to a business owner, without going through any complex procedures.

How To Present A Working Capital Loan

Agents should discuss how merchants can take advantage of a working capital loan. The reality is that usually, merchants need a  working capital loan to fix a problem or an unexpected expense. Bear in mind that they need to get funded quickly. Betterpay’s application process is generally within 24/48hours. 

Establish How Much The Business Needs

It is imperative that the business owner is clear as to how much he or she needs. A working capital loan can be used for expanding a business, managing daily expenses, or purchasing equipment or inventory. Once this is established, a merchant service agent must go through a series of steps to continue the process. It is important to gather the following information such as the last 4 months of merchant and bank statements to speed up the application process. 

Communicate Rates and Terms

It is a sales agent’s job to keep clients informed on the rates and terms of the pertaining working capital loan. This builds trust and also removes any form of confusion a merchant might have about their working capital loan. Remember very little paperwork is required and no collateral is needed