Most likely, you already have an emergency preparedness plan and have developed ideas for preventing emergencies in the first place. One thing you may not have figured out is where to go to get an emergency business loan.
Everyone knows where to go for emergency medical services and immediate help when they are in trouble. When your business is in distress, it can feel like the same kind of life or death situation and as a result you will need to know how to get an emergency business loan.
Is it Possible to Get an Emergency Business Loan?
In order to get an emergency business loan from a traditional bank, you will have to provide a business plan and other financial documents to prove that you can repay the money. Also, banks require all of your paperwork to be perfect and you will probably not be allowed to explain any inconsistencies.
If your application is less than stellar or if you have bad credit, you can kiss your fast business loan goodbye. For more and more small businesses, a bank is not the ideal destination for a fast business loan.
What is the Alternative to an Emergency Business Loan?
Thankfully, there are other options when you need cash in a hurry. Your best choice is a cash advance company, like Financing Solutions (www.fundmypayroll.com).
Financing Solutions can provide you with same day business funding to get you through an emergency. It only takes a 15 minute phone interview to get started and you will receive a decision on your application in a few hours.
Once approved, you can have the money in your account instantly. This quick business funding can be used for any emergency, such as a weather-related disaster, an accident or even if you are simply having difficulty making payroll this week.
They offer an easy repayment plan so you can pay the money back in a couple of weeks or months. This means that you will not be tied into some long term contract that can add to your financial woes.
Things You May Not Think of in an Emergency
When your company experiences an unexpected crisis, it is natural to go into panic mode. The first things that come to mind could be making sure everyone is safe and how much emergency cash you can get your hands on to keep operating your business. Nonetheless, there are some things that can be easily forgotten in the rush.
For example, you may need to quickly access data so you may have to know how to recover backup information. This is especially true if the emergency affects your computer systems. Short term business loans can be an ideal solution for companies looking to manage cash flow, purchase equipment or take advantage of opportunities for growth.need a plan to work around them. That way, you can still get your job done.
Additionally, it is important to periodically review, test and tweak your plan. Studies have shown that approximately 40 percent of businesses that face an emergency don’t survive it.
You can increase your chances of getting through an emergency by contacting Financing Solutions. They can provide the emergency business financing you will need should the unexpected occur to your company.