So, you have decided to take the plunge and you have opened up your online business. You did your research and you were sure you had everything you needed to turn your dream into a reality. You do not have the overhead of a brick and mortar store and figured doing it online would be an easy business. To your delight, people like and want what you are selling and you have had a steady stream of customers, enough that you make a small profit but not so many that you can’t handle.
But now you find that some of the costs are increasing and new regulations, such as the requirement to charge state and local taxes, have made it a little more complex than it was initially. You will either have to get new software to handle it or hire someone to ensure that you are in compliance. Though you make a profit it isn’t enough for what you need. After all, you aren’t a software expert, you hired someone to set you up. You need a way to get online business funding.
The Bank Said No
You went to your bank, where you’ve been banking for years, and explained your situation only to be told they will not handle capital funding for online businesses, even if all you need is more hardware to create your product. They consider them too much of a risk because they have seen so many of them fail. That didn’t exactly give you hope and certainly made you wonder if you would simply become one of their statistics. So where do you go now to get funding for your business? Capital funding companies are your best option in circumstances such as these.
Capital funding companies are companies whose sole purpose is working with small businesses to get small loans for situations just like this. As an added bonus, many of them will provide online business funding. They will look at your revenue history and even if you have only been in business a short time, as long as your receipts are steady and your you have a solid market, the capital funding for your online business can become a reality.