Where Can You Get Payroll Funding for a Small Business
It is easy to find vendors and groups that are willing to work with small businesses. When you want to find payroll funding for a small business, that task is a lot harder.
There are many times when you can find yourself short of cash and unable to make payroll. Therefore, in addition to just needing payroll funding for a small business, it also has to be fast. Fortunately, you do have options.
Who Offers Payroll Funding for a Small Business
As a busy entrepreneur, you wear numerous hats. However, even you cannot run your business without help so you need employees and they must be paid.
Knowing that you are in danger of missing payroll can be a stressful time and might cause you to feel desperate. This is when you are most vulnerable to taking the first deal that comes along, instead of doing your homework and making the choice that will be best for your business.
You could try a bank, but by now everyone knows that a fast small business loan from a bank is an oxymoron. Traditional banks have lengthy applications that could take you days to complete. Additionally, they make you wait several weeks for an answer on your application. By this time, you would have missed a few payrolls.
Traditional factors offer help, but it usually comes with expensive fees, often tens of thousands of dollars. Also, they lock you into long term repayment schedules that can take you up to two years to pay off.
Where is the Best Place to Go for Payroll Funding for a Small Business?
For hassle-free business funding, a better choice is Financing Solutions (www.financingsolutionsnow.com). They can give you the fast business cash you need to make payroll and grow your business.
Financing Solutions can give you emergency business funding in less than two days. You simply sell some or all of your account receivables and receive cash based on a percentage of their value. Best of all, with their flexible repayment schedules, you can repay the money in a few short weeks or months, when your cash flow improves.
The money can be used for any business purpose. In addition to making payroll, you can use it to purchase supplies for a big order, to consolidate debt and keep more cash in your pocket, or to build working capital for business opportunities.
Ways to Improve your Cash Flow
It would be great if every customer paid in cash. Then, there would be no such thing as an accounts receivable gap. However, you live in the real world, so stop dreaming and come up with a plan to keep more cash on hand.
One thing you can do is to speed up your receivables schedules. This can be done by encouraging customers to pay quicker with tools like discounts and immediate follow-up with late payments.
It may also be helpful to make better cash flow projections. Don’t assume that sales will stay constant or that top customers will continue to pay on time. You must also budget for unexpected situations such as emergencies and seasonal slow downs.
The greatest way to improve cash flow is to contact Financing Solutions. They will provide you with quick business financing when you need it most.