When You Have a Business That Needs Some Small Capital
If you own a small business, you know that there is really nothing small about it. Things like stress, problems and goals are all super-sized. Therefore, if your business needs some small capital, it is a big deal.
At one time or another, every business needs some small capital. Where you go to get it is very important. If you make the wrong selection, you could increase your debt load for years to come but the right decision will help your business grow and prosper. Choose wisely.
Who Offers Help for a Business That Needs Some Small Capital?
The best option for small capital is a cash advance company, like Financing Solutions (www.fundmypayroll.com). They are a better alternative to banks and other funding sources.
Their application process is quick and easy and you can get started with just a 15 minute telephone interview. You will receive an answer on your application in about an hour and the money in your account in less than two days. More than 90 percent of the businesses that apply for quick business funding from Financing Solutions are approved.
To be eligible, you must have sales of $350 thousand per year and need $5,000-$150,000 dollars in financing. Unlike other funding companies, they look at a lot of other things in the business to approve an application. As a result, even if you have less than perfect credit, you can still receive funding.
The Disadvantages of Other Funding Sources
There is no shortage of companies promising to solve your financial issues. However, all are not created equal.
For example, crowdfunding has recently become very popular as a way to raise capital. Nonetheless, it can take time to raise enough capital this way. Also, if you need money to launch a new product for your business, you risk exposing your ideas to imitators.
You could also try merchant cash advances. The disadvantage of this method is that these companies will insist on dictating how you accept credit cards while you are working with them.
What You Need to Do to Keep More Capital in Your Pocket
Cash is needed for everything from making payroll to handling emergencies and if you don’t have it or can’t get it, your business will suffer. Here are some tips that may help you keep more of it.
One vital thing to do is to better manage your inventory. You can do this by tracking how much you need at various times of the year. Then, instead of over-purchasing, buy only what you need and keep more cash.
You can also adjust your collection and invoice practices. For example, you can get into the habit of billing customers or vendors as soon as possible, rather than waiting weeks to send a bill. In addition, you may also want to provide incentives for those who pay early and limit credit to those who are habitually late.
Perhaps the best way to keep more capital in your pocket is to contact Financing Solutions. They are the place to go when your business needs some small capital.