Some industries are considered to be riskier than others. For these businesses, funding options becoming seriously limited. In an effort to secure the capital they require to operate smoothly and cover expenses, many turn to high risk business loans. The problem with trying to secure a small business loan with a bank is that traditional lenders are unwilling to work with risky industries or those struggling with a bad credit history. Even if they do offer specialized business loans, you can expect to experience long wait times for approval, hefty collateral requirements and extensive documentation requests. As a result, startups […]

Unfortunately, many small business fall victim to poor cash flow management. While it isn’t uncommon for a business – especially a startup – to operate at a loss initially, constantly struggling with your bottom line can place your business in a dangerous situation. Your business is only as healthy as its cash flow situation. Consider the following ways you can ensure your business’ cash flow improves and stabilizes. Create a Forecast Improving your cash flow situation begins with assessing where your cash flow currently stands, and where it is projected to be in the future. Small and mid-sized businesses experiencing […]

Many business owners shy away from merchant cash advances, not fully understanding what they are or how they stand to benefit from them. Even if they are aware of what this product is, they might still be unsure if they should use it as a small business funding option. If you’re still trying to decide, the following information will help you. What is a merchant cash advance? Contrary to popular belief, a merchant cash advance is not a loan. It is simply a sale. The alternative lender offers your business a lump sum of cash in exchange for your business’ […]

As an entrepreneur, you may need business funding to grow and expand your business since your success is based on your growth. Below you can find 4 reasons your startup may need business financing. Get More Help If you’ve started your business alone and you’re playing every role in your company, you are likely to need more people on board who will help you with your business, otherwise, you won’t have time to pay enough attention to your overall business vision. With the help of a new staff, you’ll reduce the number of tasks you embark on and will be […]

When applying to a bank for business funding, you should be aware of all the factors that may cause a bank to reject you. If you think there are factors that will make it difficult to get approved for a loan, take the necessary steps before applying for it. Poor Credit or Lack of Credit You should have a good credit history when applying for a bank loan. As a rule, you’ll get approved for a bank loan if you have a personal credit score between 680-720. Also, you should prove you can manage your budget appropriately by showing, e.g., […]

As a business owner, you may need access to capital so to guarantee growth for your business. No matter, you need business funding to overcome the hindrances in your way or just use it to expand, you should make the right decision. In fact, finding small business funding isn’t a trivial issue. You can choose between 2 business funding options such as equity and debt. In the case of debt, business funding providers receive a note for their cash. The note states the terms of repayment, such as timing and interest. Choosing debt, you can remain the owner of your […]

As a businessperson looking to set up a card payment service, you might view your account provider as only a vendor that provides business solutions and charges a fee. But these companies are more than just payment processors. Both the merchant and the provider shake hands with the same goal in mind: to realize more credit card purchases. For the payment service company to be successful, the merchant has to be successful. This shared focus means that both sides have to work together. A merchant account relationship is, therefore, built on more than just a signed document. It is a […]

The widespread acceptance of credit cards as a primary method of making payments has brought benefits to merchants and customers alike. However, cases of identity theft, fraud and data breaches remain a significant concern among industry players. Consequently, the recent years have seen the tightening of PCI DDS rules to ensure the security of credit card transactions. What is PCI DDS? Payment Card Industry Data Security Standard is a set of regulations that govern how all businesses should accept, process and transmit credit card information to maintain a secure business environment for all. Any organization that handles any card data […]

Many businesses experience high and low seasons. While some might have steeper curves than others, they all have to make prior preparations to make the best out of the peak and survive the off-peak period. Merchant cash advance programs suit seasonal businesses the most, mainly because they offer the traders the option of using future sales to finance their immediate needs and expenses. And when the peak season comes, the merchant can quickly pay the cash advance. If your business goes through highs and lows, read on to find out how much a cash advance can help you maximize sales […]

When starting or growing a business, you may need to apply for a business loan or a line of credit. The lender will request documents and would like to learn more about you, your business, and your goals. To make the lender trust your business, you should be well prepared. Below you can read 5 ways to get ready. Have a Solid Business Plan Explain your business and its goals clearly and in details. Get ready to discuss your products or services, the industry you’re in, and what you’re doing to achieve long-term success. Be ready to explain why you’re […]