When you are experiencing a personal or medical emergency, you know that the first thing to do is call 9-1-1, and that they will respond quickly. Similarly, when your company is in crisis, you may need to find an emergency business loan funding solution that will work just as fast.
There are many ways to get answers in the business world, such as turning to your accountant for financial advice and going to a public relations firm for help with promotion. Finding an emergency business loan funding solution is typically not that easy.
Who Can You Turn to for an Emergency Business Loan Funding Solution?
Most small business owners who need an emergency business loan may think that a bank is their only option. However, going to a bank might be nothing more than a waste of time.
The truth is, many small businesses are unable to qualify for any kind of fast business loan from a traditional bank. They have lengthy applications that could take days just to complete and may take up to three months to even make a decision regarding your application. In addition, if you do not have tons of collateral and a stellar credit history, you will be out of luck.
Are There Alternatives to an Emergency Business Loan?
Thankfully, banks are not the only alternative for fast business funding. Your best choice is a cash advance company, like Financing Solutions (www.fundmypayroll.com).
In an emergency, you need a quick solution, and Financing Solutions provides that for you. All it takes is a 15 minute phone call to apply and you can receive an answer on your application in a few hours. Once approved, you can have the money you need transferred to your account within 24 hours.
The funds can be used for any purpose, such as making payroll when a big client is late with payment or to take advantage of a profitable opportunity for growth. When you are in the middle of an emergency, the last thing you want to spend time on is looking for quick funding.
Is it Possible to Prepare Your Business for an Emergency?
They say that the true test of a leader is the ability to stop a problem before it becomes an emergency. However, unexpected events can happen to any business. When it comes to emergencies, it is not a question of if it will occur, but when.
The trick is to not be completely caught off guard. One way to prevent surprises is to create an emergency preparedness plan.
It is crucial that you gather key members of your team to brainstorm about every kind of emergency that could potentially affect your company. This can include, but is not limited to, natural disasters, lawsuits, death of a top administrator or losing your best client.
You must decide what actions will be taken in the event of each kind of crisis. Then, put it in writing and make sure everyone knows how to find it. The document should include contact information for all important associates and the location of financial papers.
Another way to prepare for an emergency is to contact Financing Solutions before anything happens. They will be there for you to provide instant business funding when you need it most.