Two Common Mistakes that Small Businesses Should Avoid

There are thousands of small businesses across the United States, but unfortunately, not all are successful. It takes good business sense and the ability to capitalize on opportunities to really succeed in any industry. With small business capital funding, there are specific steps that you can take to ensure the growth of your business. However, whether you run a retail store, a medical shop, a nightclub, or a trucking business, it is important that you stay away from these dangers.

Staying away from technology

If you are not a tech-savvy business owner, investing in technology can seem a bit scary. However, the right technical products can save time, effort, and cost in the long run. It can also lead to better sales and revenue. For example, investing in inventory management software can help you keep track of inventory levels, shortages, fast-moving products, etc. Business funding companies can help you secure timely finance so you can buy products that will help your business become more effective.

Staying away from marketing

Irrespective of the nature of your business, there is bound to competition from local as well as national stores. As a business owner, you would need to keep abreast of what the competition is doing and then identify ways in which you can increase your market share. With small business capital funding, you can have the working capital to create flyers, brochures, or even a full-fledged website. Further, you can invest in in-store marketing such as window displays, discounts, special offers, etc.

Don’t let financial shortages affect your growth plans for the future. Apply for a merchant cash advance from business funding companies and set your plans in action. With flexible repayments and a stress-free application process, a cash advance is your best possible solution for additional working capital.

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.

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!