Quickly Raising Business Finance
The ability to increase business finance is a big deal. Speed is key, whether it be speed of decision, speed of processing or the speed of access to funds. Availing of cash funds used to be easy before. Now, you must have a bridging loan to back you up.
For the most part, the ability to quickly react to a certain opportunity would indicate you will be able to make a good profit. It could be capitalizing on another person’s misfortune or simply being in the right place at the right time. Opportunities for business incessantly present themselves. If you have liquid funds in hand, you can quickly act upon it. Unlike banking institutions, commercial lenders are able to decisively respond, and you can avail of bridging loan funds within days.
If you are rich in asset but lacking in cash, should something need quick addressing, you could pay a heavy price, unless you have quick access to short-term funds. It could be an unexpected tax bill, an equipment failure or simply a temporary hick-up in your cash flow. The alternatives to availing of a short-term loan giving time to resolve the issues can be catastrophic. Assets seized by a bailiff and sold at auction rarely reach anything like even the lowest realistic valuations.
Talk about ‘business & finance’ and you’ll find it’s quite hard to even get them to provide you with an answer regarding when they can give you an answer. Frustrating, right? With high street lending more cautious, hard to obtain and a slower process as compared to the past, the commercial finance sector have stepped up to the mark and was able to fill the gap.
Categories: Loan Articles Tags: able, bridging loans, business finance, business loans, cash, loan, short
Need a Small Business Loan?
It’s always good news to start a new business especially when it screams your passion in life. However, times can be tough and you have nowhere to run to for financial back-up. Ever heard of small business loans? Watch this video and learn a thing or two.
Categories: Loan Videos Tags: business loans, especially, heard, loans, Need, small business loan
The Deal With Unsecured Small Business Loans
Start your business with unsecured small business loans:
Putting up a new business could be pretty challenging. Some people who venture into business could have the idea but they don’t exactly know how to get the money for it. Even though they know that these loans exist, it may be confusing at first. The unsecured small business loans are the best solution for these businessmen.
The best thing that these loans boast of is that they do not need any assets as a security to the lender. That said, you don’t have to worry about losing your home after missing payments. There is close nothing to worry about when applying for these loans. However, you must know beforehand that the interest rate would be sky high as they are unsecured. If you feel comfortable with it, go get ‘em tiger. Small business loans were hard to get back in the day. However, the perception regarding the small businesses has been changed now and there are tons of opportunities for you to get the small business loans.
Online Unsecured small business loans:
There are many online lenders that offer these loans. Having poor credit will not hinde3r anyone from getting these loans. It might be necessary to give details about your business idea to the lender. Another benefit you can reap from these loans is that there are no usage restrictions. You must shop around and get the quotes from every lender. Instead of going to the lender directly, you can get the needed detail from the Internet and can be a lot better if you look at websites that deal with loan comparisons. If you are patient enough, you can get these loans at a much reduced interest rate.
Categories: Loan Articles Tags: business loans, interest, loans, Online Unsecured, Small Business Loans, Unsecured, unsecured loans, unsecured small business loans
Business Loans For People With Bad Credit
When you have your own business you may come upon times where you’re up against an unexpected situation and need a bad credit business loan. In most lending situations your first choice would be to talk to your regular bank or another local bank. While some will recommend that you skip this step to save time, I generally think it is a good idea to continue to build a strong banking relationship with one bank.
Another option is through a factoring agreement. You contract with another company to give you money now at a discount rate based on anticipated future sales. Sometimes this can be done with outstanding invoices or even work in progress. Another possibility, if you have a credit card merchant account, is to use the expected monthly credit card sales numbers. You probably have an average amount of credit card sales that can be trusted as future revenue. This means you have low risk in receiving this future income stream.
The key is to present the factoring company with your past credit card processing statements. This is the evidence you need to prove future income and get a business cash advance.
Factoring will get you the money you need now. Since the repayment schedule is based on your revenue volume you don’t have to worry that the payment schedule is too much too fast. The factoring company does not want to put you out of business. They want you around to pay your obligations. Typically the advance is rather short-term which may have a repayment of 6 to 12 months. Once paid back new revenue is available for business growth.
Here’s an example. Let’s say you get a factor of 1.3%. This means that on a $10,000 cash advance you would be paying 30 cents on the dollar by the time you pay it back. That is, your $10,000 borrowed becomes $13,000. Then the hold-back defines how much is kept until your balance is paid. In this same example, if the hold-back is 15%, then 15% of your future credit card sales go directly to the factoring company each day. Looking at this on a monthly basis, let’s say your monthly credit card sales are $12,000. 15% of $12,000 is $1,800. That would mean that $1,800 per month will go to the factoring company. You will have paid off your obligation in just over 7 months.
Categories: Loan Articles Tags: Bad Credit, bad credit business loans, bank, business loans, months, poor credit, poor credit business loans, sales, schedule
Why Choose Unsecured Small Business Loans?
Start your business with unsecured small business loans:
Getting yourself into a certain type of business is quite difficult. It may be easy for some, but it’s hard for the general population. You know what they say, the beginning is always the hardest. One of the biggest problems that a hopeful newbie businessman may encounter is having so many plans and ideas, but don’t have any financial resources. A lot of people are aware of unsecured small business loans, but they just can’t dive into the concept that easily.
The best feature of such loans is that they don’t call for any assets as a security on the part of the lender. So you need not worry about saying goodbye to your home after missing payments. Not much is worried about when availing of these loans, but the interest rate would definitely be high considering they are unsecured. If you are okay with the interest rate, you can get them. Small business loans were hard to get in the past. It is because the perception about the small businesses has changed that’s why today there are many opportunities for you to avail of these small business loans.
Online Unsecured small business loans:
There are is myriad of online lenders offering these loans.
Poor credit will not keep you from getting these loans. You could be required to lay out details regarding your business idea to the lender, though. Another upside to such loans is that there are no usage restrictions. What you have to do is shop around and know the quotes from every lender available. Instead of directly going to the lender, you can look up their details on the web. Also, it would be much better if you check websites that do loan comparisons. With patience, you can avail of these loans at a much lower interest rate.
Categories: Loan Articles Tags: business loans, loans, Online Unsecured, rate, Small Business Loans, unsecured business loans, unsecured loans
How To Get A Business Loan
Starting a business is like taking care of a growing child. You watch it come out to this world and be seen by the people. You guide it every single day making sure that nothing goes wrong. You witness it taking small steps until it can walk all alone. You assure safety and security just so nobody can take it away from you. Therefore an entrepreneurs very own baby is the business that he carefully runs.
Watch this video if you know you’re one of these people, and you might get the help you have been wanting to get.
Categories: Loan Videos Tags: Business, business loans, loan