Get Working Capital for Your Small Business in One Day
In one day, you can fully engage in a hobby you keep putting off, binge-watch every episode of Game of Thrones, or get working capital for your small business. Although the other choices are entertaining, the latter option is the only one that will truly give you peace of mind.
Running a small business takes courage, creativity, and cash. Knowing where to go for working capital in one day could mean the difference between saving your company and going out of business.
The Importance of Working Capital
Sure, you’ve read the studies and seen the reports: Financial experts all recommend that businesses maintain a generous supply of working capital. Having extra cash on hand for emergency business funding is crucial for those unexpected situations that happen to all businesses, such as equipment malfunction, temporary decrease in sales or even a natural disaster.
Nevertheless, most small business owners don’t get around to building a working capital fund. After all, you are too busy working to grow your business and stay successful today. Tomorrow often gets put on the back burner until, well, tomorrow. Unfortunately, for many businesses, sometimes later becomes never.
Research has proven that one of the top reasons why more than half of small businesses fail before their fifth anniversary is that they run out of cash. Some expenses can be paid with credit, but many aspects of day to day business operations require cash, such as making payroll and purchasing supplies.
While you have to wait 30, 60 or 90 days for your customers to pay, your bills need to be paid now. When you have working capital, this gives you access to fast cash so you are not blindsided by sudden events that are beyond your control. Not being able to get the quick business funding you need may put you out of business.
How to Get Working Capital in One Day
You could go to a bank and try to get a working capital loan. Even with decent credit, the most you might be able to get is a home equity line of credit. This requires you to put up your home for collateral, which means you could lose both your business and your house if you have difficulty repaying the loan. Also, it could take weeks or months before you receive any money. That’s just the way banks do business.
A smarter option is to turn to a cash advance company, like Financing Solutions (www.fundmypayroll.com). This is the best choice for entrepreneurs looking to obtain working capital in one day.
Financing Solutions works with small businesses, at least two years in operation, to provide instant business funding. All it takes to apply is a 15 minute phone interview and you will receive an answer on your application in a couple of hours. If approved, you could have the money you need in your account the same day.
With this kind of short term business funding, you are not locked into a lengthy commitment. Most companies that use the cash advance option are able to repay the funds in a few weeks or months. This allows you to stop worrying about immediate business financing and focus on growing your company instead.
Other Things You Can Do In One Day to Grow Your Business
When you are running a small business, it can be difficult to think proactively when you are dealing with mini (and not so mini) crises every day. However, there some small things you can do to keep your business growing and thriving.
One thing you should make a habit of doing is examining your website and social media platforms often. Are all the links and tabs working properly? Do you have messages from clients waiting for your response? Make sure everything is up to date. When information is outdated or issues are not addressed, you could lose customers.
Another smart practice you can do regularly is to see what your competition is up to. Discover areas where they might be dropping the ball and look into how you may be able to gain an advantage.
One day, you could find yourself on the cover of all the top business magazines, but to get there, you need to have enough working capital funding to stay successful. When you need that working capital in one day, contact Financing Solutions.