Small Business Capital Funding | Business Finance Online

Advantages Of Small Business Funding For Commercial Freight Companies

It is not a well-known fact, but nearly 50% to 70% of all goods freight in the USA are moved by trucks. Currently, trucking companies, big, medium and small need to stay ahead of stiff competition, in order to remain profitable.

Better Profit Margins

Major expenses like fluctuating fuel prices, spare parts, and maintenance can bite into profit margins and make it difficult to sustain growth. Banks have proven to be very strict with their lending requirements, especially for small to medium-sized trucking companies. Fortunately, there are private trucking business funding alternatives to these financial institutions that help these businesses keep their trucks on the road, provide salaries for their drivers and technical staff, and other expenses.

Room For Expansion

It is no secret that moving products by trucks are the safest and most economical way in the USA, so it makes sense to find trucking funding for business owners when the time comes to expand, renew and reorganize these businesses. Trucking is a very labor-intensive business, especially when it comes to loading, unloading, spare parts, maintenance, fuel, tires, etc., and all this while maintaining a small to medium fleet of trucks along with drivers to keep the company’s logistics schedules on schedule.

Variable Company Size

These truck funds provide business owners the money needed to purchase, manage, and maintain their vehicle fleet, which is vital if the company has to succeed. The process of getting a trucking company funding involves getting all the paperwork, books, insurance premiums for equipment and employees, and other monthly financial data ready for the financial institution to go over before they approve the advance. Leading providers offer advances in just about four hours to three business days. Based on their reputation, financial companies have provided trucking advances to very large fleet companies right down to an owner/driver of a single truck.

How to Grow Your Business with a Merchant Cash Advance

Businesses with bad credit history might struggle to keep it viable. Generally, a small business that does not have a good credit score faces many difficulties in being eligible for a loan from conventional sources. Read on to figure out how the option of a merchant cash advance in a bad credit scenario can help your business to profit and grow.

Credit Scores: Impact on business

Bad credit usually indicates that you have had a history of failing to repay past credit obligations. If you apply for a loan through a conventional commercial lender, you may find it challenging to get an approval. An alternative financing method is a merchant cash advance (MCA). When looking for a merchant cash advance in a bad credit situation, all you need is a credit application and a few month’s merchants or bank statements. You can use the advance to sustain or expand your business, for working capital, payroll, purchases, for hiring employees, or relocating your business from one location to another. This flexibility will help you see your business in a whole new light, and it opens up opportunities that you may not have considered before.

Merchant Cash Advance: How Does it Work?

Merchant cash advance companies offer you a sum of cash up-front that can be used for any business purpose you choose. Businesses such as restaurants, retail shops, night clubs, garages, and other such businesses whose revenue comes from overall sales can use this facility to expand or sustain their business. Repayment can be made with a portion of your company’s forthcoming sales. Even if you have a less than perfect credit rating, it doesn’t matter as a merchant cash advance can actually help you repair your score. Look at it as an advance on the future sales of your business.

Repayment: Flexible Cost Structures

Merchant cash advance companies do not have a pre-determined end date for repayment as it is based on the retrieval rate, a percentage of each day’s sales. Repayments are structured in two ways. One method is the ACH (automated clearing house) withdrawals. Here you can remit a fixed amount of daily or weekly debits along with fees from your bank account until the advance is paid in full. How much you will pay in fees depends on your ability to repay the merchant cash advance. Merchant cash advance lenders will determine the factor rate based on its risk assessment. Another method is the percent of overall sales. The funders automatically deduct a set percentage of your overall sales until the agreed-upon amount is paid back in full. The higher your sales, the faster will be the repayment.

The good news is that flexible cost structures give you a lot of flexibility and don’t come with the in-built stress of dealing with a conventional financial institution that usually puts you through tons of paperwork and excessive delays. With a merchant cash advance, you can start planning for the future and take back control of your business in the best way possible.

What Are Some Must-Know Facts About Merchant Cash Advance Financing?

If you are a small business owner who is looking for fast funding options, you may have considered merchant cash advance funding. Let’s take a closer look at this popular funding option and how it can help your business grow and sustain profitability.

Merchant Cash Advance – An Alternative Funding Option

During the business cycle, there may be multiple points at which you will require immediate cash to cover a short-term expense. Merchant cash advance financing comes in handy at these times, especially as traditional financial institutions will always pursue low-risk projects. MCA funders evaluate the risk and credit criteria differently. Therefore, it remains a good option, especially for small businesses with inconsistent sales or those that don’t possess capital assets such as the property, which can be used as collateral.

What Is a Merchant Cash Advance?

A merchant cash advance for small businesses, also known as a business cash advance, offers an advance against future sales. In other words, a lump-sum payment is given to a small business that has a steady volume of overall sales. The amount is agreed upon in exchange for a percentage of future revenues or sales. MCAs are friendly to small businesses as you can get your money fast, and it is easy to qualify. Merchant cash advance funding is not usually based on your credit score or collateral, and these will not determine your eligibility for funding. These advances are specifically given to existing businesses that have cash requirements for acquiring new stock, relocating to a new location, or to meet payrolls, etc.

Merchant Cash Advance Benefits

A merchant cash advance for small business is issued very quickly, usually within four hours or up to three business days, with no cumbersome paperwork. Fund providers look at overall sales receipts to determine whether you will be able to repay. They are usually interested in your sales history rather than credit history. Flexible payments are another advantage. Even if your repayment plan is based on daily sales, you have the flexibility to adjust the amount, in case your sales are low. It covers risks such as fluctuations in sales or seasonal sales. The amount received as MCA can be used to cover any business expenses you choose. Merchant cash advance financing is an unsecured funding method, where you don’t have to provide collateral such as business equipment, inventory, or property. This means your assets are not forfeited even if the sales are low or you fail to repay.

Cost Structure of Merchant Cash Advance Financing

The repayment cost structures are flexible. MCAs can be structured as split withholding repayment or lock-box repayment. With regard to split withholding repayment, the funder splits each day’s revenue with the merchant. Whereas, in the lock-box repayment method, the deposits are put into funder’s account and shared by merchants and financiers, which makes the repayment flexible. The repayment of advance is based upon a percentage of the weekly or daily balance in the merchant account. The more transactions a business does, the faster it will be able to repay the advance. Thus, the repayment is tailored to suit the flow of your business transactions.

How Liquor Store Financing Helps Grow Your Business

Liquor stores are a good option for business owners who want to generate a steady income. However, it is not the easiest business to run, which is why liquor store purchase financing is a good option to explore.

It Is Not Always Spirits and Bubbles

When it comes to running a successful liquor store, several aspects need to be addressed. Do you have adequate funds to stock the right amount of inventory even during peak seasons? Do you have the financial backing to handle employee payrolls from month to month? Can you meet unexpected expenses related to the business that may occur from time to time? Liquor store business financing can help with all that and more.

Liquor License Costs and Requirements

Procurement of the necessary licenses to run a retail liquor store can sometimes be complicated and expensive. This is one reason why many stores fail to succeed and eventually have to close shop. Some several laws and regulations govern these licenses and often it becomes necessary to invest in the services of a lawyer or consultant to help with the same.

Location and Expansion

A good business is one that is constantly innovating and growing. A cash advance will be of great use when you want to open a store in a new city or a different part of the same city. With liquor store business financing, you can look at moving to a premium location which will then attract more customers to your store. Rather than stressing over lengthy approval processes and delays by traditional banks, you can rely on a dependable alternative lender who offers financing with no hidden costs.

Crest Hill Capital is your answer to meet any cash advance requirement for your liquor store. For more details call 800-828-0452 today.

Business Financing Advantages For Nightclubs

The bar and nightclub sector is heavily dependent on the economy and recent developments. Unless a nightclub keeps abreast of what its customers want, chances are that its patrons will take their business elsewhere. As an owner of a nightclub, you need to invest the money and time required to meet the ever-changing demands of club-goers. Therefore, Nightclub financing is an option you could consider if you own a nightclub.

How Can Financing Help?

● Marketing And Social Media: In this digital age, marketing is usually done through social media groups such as Instagram, Facebook, and Twitter. With the right funding, you can use these tools to your advantage to bring in new customers. Interacting with customers online helps build a two-way conversation with your brand and helps retail loyalty in the long run.

● Inventory: A successful business will not only have adequate inventory but will also offer a variety of drinks that customers normally look for. Unless you stock the right inventory, your business will not grow. This is how nightclub business financing can help as it provides the financial backing you require to get your business going.

● Technology: The latest technology can make a significant difference to the operational aspect of the business. Investing in the right software can streamline operations in the bar and the kitchen and will make the whole unit run like a well-oiled machine.

● Expansion And Renovation: To meet the ever-changing demands of customers you have to constantly expand and innovate. From upgrades to the furniture and interiors to displays signs and lighting, aesthetics can make a positive difference to your business.

Nightclub business financing can give you the leverage that you need to grow your nightclub and take control of the competition. Pick a small business lender that offers a clear and transparent process with no hidden costs involved. For more details, call 800-828-0452 today!

Utilizing The Small Business Funding Option For Your Business Growth

A small business, in general, is any company that hires less than 500 employees or falls under a definite industry’s yearly receipts limit. These small businesses help in providing employment, driving local economies, and also help to sustain the functions vital to any country. However, it is very challenging to sustain a small business.

Apart from all the hard work and ideas which go into making a small business successful, cash inflow is vital in sustaining one. Money and time, without a doubt, are the two essential factors necessary for the growth of any business.

If you do not have the capital to execute your business plans, it is a clear indication that you need to start looking for ways to gather the same. Below are a few examples that might require capital funding:

Employing additional staff
Adding extra divisions or places to the business
Purchasing additional equipment or inventories
Repaying an existing debt
Obtaining funds for rent, wages and so on

This is where small business funding can come to your rescue. Various business funding companies offer cash advances as quickly as 2 to 3 business days. This option can be availed by using their online procedure that is also termed as small business funding online. This online option results in faster processing, which means you can receive a credit for your business in the minimum time frame. This, in turn, enables you to discover fresh prospects as they come your way.

One major advantage to consider while opting for cash advances from business funding companies is the control over your business. These companies enable you to reserve the ownership of your company by providing you the funds you needed to expand and grow your business. Many of them provide cash advances at extremely flexible costs. Such cash advances enable you to redesign your business schemes to match the active work environment.

Small Business Funding Online: For more details on Business Funding, call 800-828-0452 today!

Make More From Your Medical Store With These 3 Simple Upgrades

If you have been wondering how you can increase the profits of your medical store, then this article is a must-read!

Firstly, you have to understand that for generating more revenue, you have to offer more. More products or more services or maybe both! We recommend the following three expansion ideas:–

Turn Your Medical Store Into A Healthcare Business

Offer your customers more than the medicines they come in for. Create an all-round health and wellness-based business by offering alternative remedies and high-quality healthcare products.

A medical store business financing can help you remodel your store and order fresh inventory.

Medical Store Financing — Medical Store Funding

Offer Consultation Space

Add services in partnership with local healthcare practitioners. You can rent out space in your medical store to professionals for services such as acupuncture, reiki, massages, physiotherapy, and related fields.

You can use Medical Store Business Funding, from alternative lending companies to construct an additional room on your premises.

Go Offbeat

Why not stock items in your store that are not readily available in the nearby supermarket? You can also take this further and offer services that are not related to your store but could be useful for your customers, such as home delivery service for senior citizens.

A little bit of cash in the form of a small business capital funding would be enough to do some research and stock up on difficult-to-find essentials. A slightly larger bit of capital could be used for setting up a new service and to advertise it.

Bonus, No-Cost Option

Rent out your storefront for local advertising! For a small fee, you can market other local businesses to your customers.

So, what do you think of non-bank Medical Store Financing options? Would you like to add some ideas? Do tell us your thoughts in the comments section below.

Three Smart Reasons To Apply For A Trucking Business Funding

To an outsider, a trucking or transportation business might appear like a straightforward business model. One that seems highly profitable once you have invested in purchasing the fleet. However, the reality is that, like any other business, it also requires constant upgrades and has its share of operating costs. In fact, in a trucking company, the nature of the business and the equipment demands even higher running expenses than other small businesses. From dealing with breakdowns and accidents to insurance and workforce training costs, a trucking business owner will have much to pay for the whole year round!

Naturally, having access to easy business funding can be extremely helpful for running the business smoothly. But beyond that, trucking fleet owners can do much more with alternative online funding. Here are a few ideas:-

Upgrade And Add Technology

You can use trucking business cash advance to enhance the productivity of your entire business. There are many new, specially designed devices in the market that can help you become faster and more efficient. From next-gen GPS to track your shipment to company-wide CRM software to automated web portals to connect your clients to their shipments – simple one-time upgrades and integrations can help you deliver better customer experience AND cut down wastage. Use trucking business funding to add these without stressing your cash flow.

Training

Training and compliance are critical to stay safe on the road and to avoid massive insurance costs and fines. We have seen many of our clients from this industry using a trucking business funding to stay on top of the stringent government safety norms by providing the latest driver safety training required by the Federal Motor Carrier Safety Administration (FMCSA).

Advertising

Trucking businesses must also contend with the competition. Getting new clients and retaining old ones doesn’t just happen organically. It requires constant marketing efforts to stand out in a crowded industry. You can use trucking company funding to build your reputation and launch a professional advertising campaign.

Are you already using alternative lending funding offers in your trucking business? Do tell us how you are leveraging easy alt-finance capital to grow your business in the comments section below!

How Do Alt-Lenders Offer Capital Funding Without Considering Credit Scores?

In the small business community, it is well-known that if you don’t have a decent credit history, then the best (and easiest) way to get business funding is through online alternative lenders. There is no point approaching banks and credit unions at all unless you can offer collateral AND have a perfect credit score. Thankfully, alternative Business Funding Companies provide capital funding to small and medium scale businessmen without considering their credit scores.

But How Do Online Alternative Funding Companies Offer Assistance When Banks Refuse?

They Have A Different Operational Approach

Unfettered by regulations, alternative funding institutions have a more inclusive mindset. With small business owners, they see opportunity instead of risk, and their business models reflect this thought process. They look at several data points to determine the creditworthiness of businesses, and a credit score is just one of them. This means that even with poor credit scores, business owners still have an excellent opportunity to get the funds they need if they have a great business plan.

They Leverage Technology

Extensive use of fintech has made the procedure faster and more streamlined. In situations where businesses are looking for capital funding for poor credit, technology ensures that alt-lenders find enough transactional data to build a holistic picture of the business’ financial health. This reduces their dependence on simple credit scores.

Less Regulation

The alternative lending sector is also privately funded by investors and hence operates with less government oversight. Banks and credit unions must follow stringent guidelines while approving credit deals, but these online business funding companies have a free hand when it comes to deciding whom they want to lend to.

Conclusion

Alternative Business Funding Companies can provide capital funding for poor credit because they have intelligently balanced their risks and profits and used technology to gain extra margins. Once you take a peek inside their business models, the mystery clears up! Their ability to fund businesses with poor credit scores is neither magic nor an undue risk. It is just a different and smarter business model.

Is It Even Possible To Get Small Business Capital Funding With A Bad Credit Score?

Well, that depends – on where you look, how much you want and what you can afford to pay for it.

Let’s explain in more detail –

Where You Look

If you are looking for small business funding for bad credit, then don’t bother going to a bank or a credit union. You will only waste your time and come back disheartened. It is more advisable to approach an alternative lending institution. An alternative lender would look beyond your credit scores and judge your creditworthiness based on your past business transactions and other financial data. This holistic approval process makes them a much better bet for bad credit funding situations.

How Much You Want

With a less-than-perfect credit score, larger sums are usually only possible if you offer collateral or if you have a really profitable and well-established business. Even then, you might have a terrible time getting approval from banks. Alternative lenders would be a better option for small–to–medium funding needs as they would oblige with unsecured funds even with a low score.

What You Can Afford

You have to calculate your repayment costs very carefully to get the best business funding deal. For example, a business line of credit would be more sensible if you are looking for a long term credit commitment, but a merchant cash advance is better if you want the entire amount in one go and can return it quickly before the costs add up. Since there are a number of flexible repayment options, you need to choose wisely what suits your business model best.

So, to answer the initial question – YES! You can access small business capital funding even with a bad credit score. Lack of a 650+ credit score will not leave your business starved for capital, at least not until alt-lending institutions abound in the credit market!

But do spend some time finding the right lender and the right deal for your business and use your money wisely!