If you own a small business for any length of time successfully, you know how important it is to have access to working capital. It’s an old phrase “you have to spend money to make money.” Simple, but as a business owner myself I know it to be a truism to run my business by. No matter what industry you are in, money is the cause of and answer to ALL of your problems. If you don’t have it, you fall, if you do and use it correctly you grow. That’s where small business funding comes in. I’ve seen it a hundred times; Company ‘A’ has been in business for two years and is successful to the point that it can pay for its good sized office, electric and other bills. It can make it’s reasonably sized payroll bi-weekly with little left over at the end. While this sounds OK, it is not GROWTH. In order to grow, Company ‘A’ needs to invest in marketing and an Internet presence, but with only enough coming in to stay where it is, it NEEDS WORKING CAPITAL.
Keep Your Business Open and Growing!
Many small business owners first think of their local bank, be it Chase, TD Bank, etc. Maybe there once was a time where banks WANTED to help small business and even cared about helping the little guy(gal) out. I am sad to report to you that this notion is effectively DEAD. That’s where Alternative Business Financing fits in to today’s financing landscape. More and more small business owners are realizing that merchant cash advance lending is the best and most cost effective way to get the cash infusion they need to actually grow without getting into massive debt. With a business cash advance the only documents you need are 3 months of business bank statements. The alternative lending company will lend to the business against the average GMI (gross monthly income) of the company proven by the aforementioned bank statements. Typically a business can receive up to 120% of that avg. to be paid back daily via instant transfer or weekly over 6 to 24 months in small affordable amounts. The business owner gets the lump sump up front within two days and can invest for growth right away making it highly likely that they can continue borrowing at larger and larger amounts in the near future. It is a recipe that is working for thousands of businesses today. Worth checking out! Thanks for reading business finance blog and have a PROFITABLE rest of your week.