Victory Capital Group Offers Working Capital Program
Particularly around business tax season, small businesses are seeking alternative funding which offers the benefit of fast cash approvals and many other benefits compared to traditional bank loans. Victory Capital Group financing can help pay for taxes, new store locations, or other business expenses.
Philadelphia, PA, March 13, 2008 --(PR.com)-- With the deadline for filing corporate income tax returns fast approaching, the timing couldn’t be any better for Victory Capital Group to announce their working capital program, as well as an expansion of their own business.
Having just gone through an expansion, VCG knows that a business’ growth depends on the ability to access capital. This can sometimes cause a bigger problem during tax season, when the IRS is asking for large sums of money, than during the rest of the year. It can prevent a business from getting loans or investing the money they do have back into the business.
With the VCG working capital program, a business will have access to the capital that it needs, and can apply it to any number of business expenses – not just paying taxes. A business can use a VCG loan for the purchase of inventory, business expansion or remodel, a new location, advertising or marketing campaigns, new equipment, payment of mortgages or previous loans, sustaining off-season periods, and just about anything else that can help a business grow.
VCG is different from traditional bank loans in several ways; VCG has a much higher approval rate with a quick answer (two business days), no limitations on how the money is spent as long as it is put into the business, ability to access more capital once the loan amount is 50% paid back, and no fixed monthly payment. For all those reasons, VCG is unique from the other lenders; the benefits achieved will speak for themselves.
The structure of the VCG system assures that a business won’t be worrying about making a payment if it is having a slow month, or if it had to shut it down due to an emergency – either personal or otherwise. The reason is that Victory Capital Group is paid back by taking a percentage of Visa/MasterCard future sales, typically 5-10%. So, while a requirement is that the business that uses VCG must accept credit cards, Discover, AMEX, and cash sales won’t be affected. This is a unique feature not only compared to banks, but also compared to other lenders.
That is a basic summary of how the program works, and here is an example of how the program can work for a business, especially during tax season, as explained by Matthew Gibb of VCG. “We had a client that owned a profitable steakhouse that had been open for over 20 years. The steakhouse had been pre-approved for a large bank loan to build another location, but had around $50,000 in taxes that were already overdue. They couldn’t access the bank’s loan until those taxes were paid, and the money from the bank couldn’t go toward paying taxes, which the bank made clear. This is where we came into the picture. In just four days, we were able to get a loan to the client for $75,000, which saved them from having to raise the money themselves, allowing them to pay off the taxes and still receive the loan when they needed it – now – so they were able to open the new location more than 3 months earlier than they otherwise might have. The new location has doubled the business of the old one, proving the investment, in terms of time and money, was a wise one.”
Whether business loan needs are large or small, VCG knows that growing a business is a vital step towards keeping the customers walking through the door and staying ahead of the competition. Victory Capital Group recognizes the potential that a business has for growth is limited only by the owner’s vision, and wants to ensure that a lack of funding, or having to pay past loans or taxes, doesn’t get in the way of that vision. For more information, contact Matthew Gibb at VCG, Matthew.Gibb@VictoryCapitalGroup.com.
About Victory Capital Group
Victory Capital Group specializes in alternative working capital for small- to mid-sized companies in order to help them improve and grow their business. Located in Philadelphia, with offices in Charlotte, Boston, and Tampa, Victory Capital Group is one of the fastest-growing providers of alternative financing in the U.S. today. Since 2003, Victory Capital Group has provided financing to hundreds of businesses across the country, such as restaurants, hair and nail salons, auto repair shops, and any other types of businesses that process credit cards or checks. The Victory Capital Group website is located at http://www.victorycapitalgroup.com.
Contact Information:
Matthew Gibb
Matthew.Gibb@VictoryCapitalGroup.com
(484) 678-1472
###
Having just gone through an expansion, VCG knows that a business’ growth depends on the ability to access capital. This can sometimes cause a bigger problem during tax season, when the IRS is asking for large sums of money, than during the rest of the year. It can prevent a business from getting loans or investing the money they do have back into the business.
With the VCG working capital program, a business will have access to the capital that it needs, and can apply it to any number of business expenses – not just paying taxes. A business can use a VCG loan for the purchase of inventory, business expansion or remodel, a new location, advertising or marketing campaigns, new equipment, payment of mortgages or previous loans, sustaining off-season periods, and just about anything else that can help a business grow.
VCG is different from traditional bank loans in several ways; VCG has a much higher approval rate with a quick answer (two business days), no limitations on how the money is spent as long as it is put into the business, ability to access more capital once the loan amount is 50% paid back, and no fixed monthly payment. For all those reasons, VCG is unique from the other lenders; the benefits achieved will speak for themselves.
The structure of the VCG system assures that a business won’t be worrying about making a payment if it is having a slow month, or if it had to shut it down due to an emergency – either personal or otherwise. The reason is that Victory Capital Group is paid back by taking a percentage of Visa/MasterCard future sales, typically 5-10%. So, while a requirement is that the business that uses VCG must accept credit cards, Discover, AMEX, and cash sales won’t be affected. This is a unique feature not only compared to banks, but also compared to other lenders.
That is a basic summary of how the program works, and here is an example of how the program can work for a business, especially during tax season, as explained by Matthew Gibb of VCG. “We had a client that owned a profitable steakhouse that had been open for over 20 years. The steakhouse had been pre-approved for a large bank loan to build another location, but had around $50,000 in taxes that were already overdue. They couldn’t access the bank’s loan until those taxes were paid, and the money from the bank couldn’t go toward paying taxes, which the bank made clear. This is where we came into the picture. In just four days, we were able to get a loan to the client for $75,000, which saved them from having to raise the money themselves, allowing them to pay off the taxes and still receive the loan when they needed it – now – so they were able to open the new location more than 3 months earlier than they otherwise might have. The new location has doubled the business of the old one, proving the investment, in terms of time and money, was a wise one.”
Whether business loan needs are large or small, VCG knows that growing a business is a vital step towards keeping the customers walking through the door and staying ahead of the competition. Victory Capital Group recognizes the potential that a business has for growth is limited only by the owner’s vision, and wants to ensure that a lack of funding, or having to pay past loans or taxes, doesn’t get in the way of that vision. For more information, contact Matthew Gibb at VCG, Matthew.Gibb@VictoryCapitalGroup.com.
About Victory Capital Group
Victory Capital Group specializes in alternative working capital for small- to mid-sized companies in order to help them improve and grow their business. Located in Philadelphia, with offices in Charlotte, Boston, and Tampa, Victory Capital Group is one of the fastest-growing providers of alternative financing in the U.S. today. Since 2003, Victory Capital Group has provided financing to hundreds of businesses across the country, such as restaurants, hair and nail salons, auto repair shops, and any other types of businesses that process credit cards or checks. The Victory Capital Group website is located at http://www.victorycapitalgroup.com.
Contact Information:
Matthew Gibb
Matthew.Gibb@VictoryCapitalGroup.com
(484) 678-1472
###
Contact
Victory Capital Group
Matthew Gibb
(484) 678-1472
www.victorycapitalgroup.com
Matthew Gibb
(484) 678-1472
www.victorycapitalgroup.com
Contact
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