Services Industries

Service based businesses, by their very nature, are a challenge to finance with traditional Banks. There is often little if any tangible assets for the Bank to secure their loans against. Banks prefer to lend against land or property, inventory and auctionable assets that can easily be liquidated. It is for this reason, many service industries are turned down for a loan or are approved with limited funds for working capital.

Any Bank financing offered is based for the most part on the credit-worthiness, character, capital and collateral of the owners or principals, not the business itself. As entrepreneurial business owners, we are often asked to pledge the family home as collateral to secure conventional bank financing. But what happens if this is not an option or the spouse is not agreeable to risking the family home for the business?

Unlike Banks, Philmarks decision is based upon the credit-worthiness of your customers not you.

To find out more about Philmark’s unique financing programs see below:

Spot Factoring
Flex-Factor Program

“I opened my business April 1999, in 2001 I ran into problems money wise, I talked to my Royal Bank Account Manager who highly recommended Philmark  Capital Corp. to me. I met with Phil and I have done business with Phil until the day I sold my business in June 2011. Phil is very professional, helpful and  understanding. He helped me all through the years. When I needed help in managing my cash flow and many other business matters in general, Phil was there for me every step of the way.”

R.P. – President
Traffic Control Management