The city of 67,047 where GE and the American Locomotive Company grew up has a long tradition of building things. Small suppliers and trades carry that tradition forward.
Apply Now →Schenectady is the county seat of Schenectady County, in eastern New York near the confluence of the Mohawk and Hudson Rivers, about 15 miles from Albany. At the 2020 census it was the ninth most populous city in the state. Connected to the west by the Mohawk River and the Erie Canal, it grew quickly in the nineteenth century as part of the Mohawk Valley trade, manufacturing and transportation corridor. General Electric and the American Locomotive Company developed there and were powers into the mid-twentieth century.
Union College, chartered in 1795, was the first nondenominational institution of higher education in the United States. Wikipedia notes that GE has continued to work on technologies including renewable energy.
Where large manufacturers have been, a network of small suppliers follows: machinists, fabricators, electricians, packaging makers, cleaning services, staffing firms and trucking. They tend to share a few traits.
Concentration is the main risk. A supplier with one big customer can be profitable and still short on cash when that customer pays late. Working capital is often used to smooth exactly that problem.
A purchase order from a larger buyer is good news, and it is also a cash commitment. Before accepting, many shop owners work through a short list.
If the answer to the third question is no, the order may need working capital behind it. If the answer is yes with room to spare, the shop may not need outside funding at all. Either way, doing the arithmetic first is better than finding out in week five.
A late invoice calls for working capital or a line of credit. A machine calls for equipment financing. A larger expansion fits term loans, and a merchant cash advance is a revenue-based option. For time-critical needs see fast funding.
For illustration only, and not our terms: a fabricator that buys a $120,000 press can pay for it from cash and then be unable to buy steel for the next order, or can spread the cost so the shop floor stays supplied.
We fund $25,000 to $5,000,000, in as little as 24 hours after a 5-minute application. A FICO of 500+ is considered, the first credit pull is soft, and we ask for about three months of business bank statements. No tax returns. Sole proprietors can apply. For credit concerns, read bad-credit funding in Schenectady.
Industry pages: restaurants, construction and healthcare. Regional pages: Schenectady County and the Capital Region. Neighbors include Rotterdam and Niskayuna. Ready? Apply now.
Not for the application, which looks at your bank statements and credit. It is a risk worth planning for, because a late payment from that customer can leave a gap.
They are different needs. Equipment-focused financing addresses a specific purchase, and working capital addresses everyday costs.
No.
Yes.
As little as 24 hours after the application and statements are in.
Three months of business bank statements and a 5-minute application. FICO 500+ considered. $25,000 to $5,000,000, funded in as little as 24 hours.
Apply Now →It takes about two minutes and it will not affect your credit score.
No obligation • No impact to your credit score
