How is Fundbox Different than a Financing Solutions Line of Credit
Every business goes through different trials and its own unique tests and challenges. One thing they all have in common, however, is the need for fast business cash. This may lead you to research which lender is right for you and how Fundbox is different than Financing Solutions for a business line of credit (LOC).
The lender you choose might mean the difference between success and failure. Therefore, its crucial to choose wisely. The more you learn about Fundbox, the more you will see that Financing Solutions (www.financingsolutionsnow.com) is a better choice.
What is Fundbox?
Fundbox is actually a technology company that helps businesses with cash flow issues. They offer working capital to businesses to help with growth initiatives.
The company provides an alternative to applying for a bank term loan, which can trap a small business under years of debt and unnecessary interest payments. In addition, getting help from Fundbox is less demanding than going to a traditional bank. Still, there are many drawbacks in using Fundbox.
Why Financing Solutions is better than Fundbox for a Line of Credit
The Fundbox product is more expensive than the Financing Solutions line of credit product. Additionally, the Financing Solutions LOC is a truly flexible LOC that allows a business owner to leverage someone else’s cash to build your business. You can also use it to pay an emergency expense, such as payroll or purchasing equipment when something malfunctions.
Fundbox requires you to pledge an invoice but behind the scenes what Fundbox is really doing is providing an expensive cash advance. When you calculate the true costs of Fundbox verses a Financing Solutions LOC one will find that the Financing Solutions LOC is a much better product & easier to get in place.
You should also be aware that Fundbox uses data analytics and computer algorithms to make funding decisions. Also, Fundbox insists that you allow them access to your accounting software and bank accounts. This may be considered by many to be an invasion of your business’s privacy just to get short term business financing.
With Financing Solutions, you don’t have to jump through those kinds of hoops. You simply answer a few questions in a 15 minute phone call, provide supporting documentation and then receive an answer in about an hour. Best of all, you can get a line in place in 48 hours or less.
Different Kinds of Business Strategies
Growth strategy — this involves developing new products or improving on existing offerings. A prime example is the cell phone industry, where providers must constantly come up with new feature and technology to keep up with demand and attract new customers.
Differentiation strategy — its vital that you find ways to separate your company and product from your competitors. This could mean providing exceptional customer service or discovering new uses for your existing product. Doing these things can help you build brand loyalty.
Cash management strategy — in business, cash is king. Without it, you can’t make payroll or pay bills and your business is in danger. Getting instant business funding from Financing Solutions will help you see your business in a different light.