Where to Find Small Business Funding
In business, you will never find peace of mind until you also find the right source for small business funding. Without it, your mind and your business are in a constant state of flux and stress.
It took a lot for you to find your way to entrepreneurship. Don’t stop now. Take your business as high as it can go by getting the small business funding you need to carry you there. The trick is to know where to find it.
What Type of Small Business Funding is Available?
Small business grants – this is money you don’t have to repay. Hey, who doesn’t like free money? Of course, there are disadvantages with this type of small business financing. For one thing, grant providers tend to be extremely specific about how you can spend these funds. Let’s say you get a grant to create a better bug spray. You may only get to use the money for research and development, not materials and supplies. In addition, these grants are difficult to find and even harder to qualify for. It’s likely you will find plenty of old information, inaccurate government restrictions and confusing requirements.
Traditional term loans – these are ideal for companies that have been in business for a long time with strong credit scores. Since most small businesses don’t fall into that category, it’s likely you won’t qualify. Commercial banks also expect you to have tons of collateral. The truth is that if you have these things already, you probably don’t need a business bank loan in the first place.
Invoice financing – an option that allows you to borrow against your accounts receivables. You go to a factor, who gives you money based on a percentage of your receivables. This gives you access to your money instantly, instead of waiting 30, 60 or 90 days for your customers to pay. The problem is that some factors insist on taking over the invoice, meaning that they communicate with your customers. As a result, your customers and vendors will know that your business is struggling financially. And no one wants to stay on a sinking ship.
Business line of credit from Financing Solutions – this is the best choice for small business funding. They give you your money quickly and easily.
At Financing Solutions (www.financingsolutionsnow.com), they offer simple terms and a straightforward application process. In fact, you can fill out their online application in about two minutes. That’s all it takes to find out how much funding you qualify for.
They only check your credit if you decide to move forward. Then they will ask for a few simple documents to support your application, like a driver’s license and tax return. Best of all, they do not require personal guarantees (except in cases of fraud).
If you have at least $300,000 per year in revenue you are eligible for this short term business funding. This is in sharp contrast to banks, where if you have under $10 million in sales then they just don’t want to work with you because you are too small.
Finding the time to get everything done can be hard. But finding small business funding is easy. Just turn to Financing Solutions for the instant business financing needed to grow and thrive.