A business cash advance or asset-based loan could make all the difference at your small business.
Business owners often find that they lack access to funding. This time of the year creates a unique opportunity for your business to bring in new and existing customers. You don’t want to miss out. Silver Rock Funding works with small businesses to connect them with funding solutions. Our most popular options are the Business Cash Advance and the Asset-Based Loan.
Business Cash Advances: A Modern Funding Solution
A business cash advance, sometimes called a Merchant Cash Advance, is a relatively new funding solution that works for the modern business. Merchant cash advances were birthed out of the needs of business owners who accepted credit cards and could prove income, but were denied by banks.
One example could be those businesses that operate online. Funding for online businesses can be difficult to acquire. Whether your business is housed on your website or a platform such as Ebay.com, you face similar expenses as other business owners. Silver Rock Funding helps web businesses get e-commerce business loans.
Online sales added up to $3.34 billion on Black Friday alone. Mobile sales took up one-third of that number, with a total of $1.2 billion in sales on Black Friday alone. Businesses (Online or turn-key) that accept credit cards might find that a business cash advance can add some extra cushion to their spending capacity. Get up to $500,000 in private investor cash through business cash advance.
Asset-based Loans: Collateral Is Your Credit
We can’t stress this enough 99% of industries qualify for our funding solutions. One example includes our Electrician Business Loans, they offer business cash advance opportunities for those in the electrical space. Many of your customers might be businesses in that industry and many others. Or funding solutions expand beyond electrical services, including Plumbing business loans, Doctor’s office business loans, and other medical business loans. Business to business sales might increase during this time of the year for a variety of reasons. According to experts, businesses with so-called “use it or lose it budgets” are likely to spend with your business.
That’s why asset-based lending might be the best route for certain industries. This funding option is a form of financing secured by a company’s assets, which are used as collateral. If an entrepreneur has merchandise, inventory, or any other assets, these can be used as collateral for funding.
“Large corporations, government agencies, educational institutions, or non-profit organizations often have budgets they must use before year end,” according to USA Today small business columnist. That means that it might be time to reach out to your existing or previous clients.
Determine what past customers or clients might have budgets or funds that they have to use before 2017. Put effort into those individuals. Email them, if you have an extensive list of customers in this category.Offer an end-of-the-year discount to sweeten up the pot. Business cash advances are ideal for situations like this. You might not have the existing funding to capitalize off of those potential sales. You can invest in your business using the private funding. If you work with small businesses, than it is likely that you do not make many credit card transactions. You might work with more accounts receivables and invoices. Asset-based loans would likely be a better fit for your small business.
Businesses need help with access to credit seemingly getting tighter every year. With Silver Rock Funding, our network of handpicked lenders can help you grow your online business. This allows you go back to doing what you do best—selling products online—not waiting to get a loan. One of the most popular forms of this financing is the merchant cash advance. This product allows you to payback the capital you owe based on the credit card receipts or future receivables of your business. Whether you need money for inventory or something else, our funding managers will work to get you the cash necessary.
Complete the free application, today!