Unforeseen expenses and delayed client payments are the two biggest culprits of poor cash flow. Remember that even if you have a contract with one client worth $10,000, it doesn’t necessarily mean that your business has $10,000. You need to free up capital from outstanding accounts receivable to get the necessary cash to fund your operations.

You can address cash flow problems by obtaining quick small business loans. Here are the five best options you should consider:

1) Personal loans

You may have been advised to avoid using personal loans to fund anything related to your business. The primary reason for this is that it can prove difficult to draw the line between your business and personal needs. But as long as you have your finances in check, personal loans offer a quick and efficient way to gather enough money and free up your cash flow.

The biggest advantage of using personal loans is the speed with which you can get approved and acquire money. The process is even faster when you use loan comparison websites to find the cheapest rates on the market. Personal loans also come with lower fees and less paperwork.

2) Working capital loans

If you need money for your operating expenses, then working capital loans should rank on top of your list. You can go for this option both for small and large loan amounts. In most cases, the repayment period ranges between 3 and 18 months. Be prepared to pay a slightly higher interest rate in exchange for fast approval.

3) Short-term lines of credit

A line of credit gives you the advantage of acquiring funds immediately. This proves better than traditional installment loans because you can take out only what you need at the moment. In case you need more money later, you can always get a line of credit again. This means you won’t have to pay interest on money that you didn’t have to borrow in the first place.

4) Invoice factoring

If your clients tend to send delayed payments, then consider invoice factoring to enhance your cash flow. When your complete projects but the invoices are left waiting for weeks, you can sell outstanding accounts receivable to a third-party. Typically, you’ll be paid 85 to 95 percent of the invoice value. After your client pays the invoice, they’ll take out the percentage as well as the factoring fee. You’ll end up with a little less money than the numbers on the invoice, but this proves to be a great option if you need fast cash to fund your business expenses.

5) Equipment financing

This is the best route to take if you need immediate fund to buy or lease equipment. Online vendors usually offer equipment financing, which means you don’t always have to rely on your local bank. The equipment you want to buy or lease can also serve as collateral, making the application process faster since there’s less risk for the lender.

As you can see, there are a number of different ways to gather quick funds for your business. Just remember to do your research and consider your finances to ensure that you’re picking the best option depending on your requirements.