In our relentless pursuit of enhancing tools and resources for your business, we’re excited to introduce a new partnership with Vaya to unlock Working Capital Credit for all your business needs.
What is Working Capital?
For those who might have never heard of this before, working capital refers to the amount of money available to a business to cover its day-to-day operations and short-term expenses. In simpler terms, working capital represents the funds that a business has on hand to keep its operations running smoothly.
For example, if you are a caterer and you need a new oven they can cost upwards of $7,000. You might not love the idea of taking that money out of your checking account, and with credit card fees upwards of 30-35% APR, working capital allows access to capital around 14-19% APR. This means you get to purchase that oven when you need it, and slowly pay off the large purchase over time without high fees.
How Does This Help My Business?
There are a lot of ways working capital can help your business. Here are a few big ones:
- Efficient Cash Flow Management: In the event services industry, revenue often comes in waves, influenced by seasons, event sizes, and other factors. This ebb and flow can sometimes lead to financial strains during lean periods, even though you’re on track for a profitable year overall. Working capital credit allows you to bridge these cash flow gaps comfortably, ensuring your day-to-day operations remain unaffected. Whether it’s making payroll or handling routine expenses, your working capital credit can act as a financial buffer, mitigating the effect of irregular cash inflows.
- Empowered Business Growth: As an ambitious business owner, you’re always on the lookout for opportunities to scale and grow. Perhaps there’s a chance to handle a larger event, or you’ve been eyeing some advanced equipment that could significantly enhance your service offerings. These growth opportunities often require substantial upfront investment. With instant access to working capital credit, you’re equipped to seize these opportunities when they come knocking.
- Be Emergency-Ready: In business, as in life, there can always be unexpected situations. It could be a sudden equipment breakdown or an unforeseen expense that crops up right before a major event. With a ready line of credit at your disposal, you can comfortably manage these surprise costs, ensuring they don’t disrupt your business operations or impact your cash reserves.
Ready to learn more? Here’s how:
- Learn more about the product. Click the link below to learn more about how you can get a line of credit of up to $50,000.
- Quick Application Process: Vaya will send you a link to fill in the application form with the necessary details.
- Use Your Credit Line: Upon approval, you’re all set to draw from your credit line whenever you need it!
The #rpccommunity is constantly evolving, and we’re committed to supporting your journey every step of the way. Like all our resources, this new offering comes at no additional cost to you – it’s another way we deliver value through your RPC account.
Get started HERE.
Who is Vaya?
Vaya passionately supports small businesses, recognizing their vital role in creating everyday goods and services, generating employment, and driving economies. They know that acquiring credit is a significant challenge for small business entrepreneurs, which often hampers their growth.
Their mission is to simplify access to credit for these entrepreneurs. By collaborating with digital platforms like RockPaperCoin, they provide credit to small business vendors where they are and when they need it. This approach reflects their name, Vaya, meaning ‘to weave’ in Sanskrit, as they aim to weave credit access into the daily operations of small businesses.
Vaya was founded by Ankit Singh and Soham Sen. Both the Co-founders have spent years across geographies building solutions for small businesses to access credit. They are based in New York City, and are backed by renowned venture capital firms, some of who have also invested in Rock Paper Coin – so we especially love what they are building.