Stop Waiting On The Government To Pay Your Invoices
Working with the government is good business. You know the money is coming and it’s a steady stream of work. However, your company spends weeks or months waiting on a paycheck that you earned a while ago. For some, that income is necessary to keep the lights on, let alone keep employees paid. There is a way to get a majority of this money within a week.
A Merchant Cash Advance Loan: we did the math
Like a sheep in wolves clothing, the MCA product is a troubling and rapidly growing segment of the small business online lending industry today. A small business owner must be very careful and understand the true cost APR of this kind of capital. If they don’t, they run the risk of true financial Armageddon, and a wise small business owner should seek all other reputable options for capital before selecting to get a seemingly low cost, fast MCA for their small business enterprise.
Buyer Beware! How To Do Due Diligence On A Business
In the fast-paced and interconnected world of commerce and technology, the need for businesses to protect themselves has never been greater. Businesses seeking a provider for services must start a due diligence effort before signing any contractual agreements. If not, they put their own capital or employees at risk. Merriam-Webster defines the term due diligence as research and analysis of a company or organization done in preparation for a business transaction.
4 Ways to Spot a Bad Customer
It is said that one of the secrets to running a successful business is to have only great customers and to avoid the bad ones. This makes perfect sense, but is much easier said than done.
Collapse of MyPayrollHR: What should I do?
As was widely reported online and in most business-related publications, the abrupt closing of the payroll giant processor, MyPayrollHR has left small businesses and their employees scrambling in a state of financial panic. And with good reason. MyPayrollHR and its parent company, Value Wise Corporation closed last Thursday (September 5, 2019) without any warning. It shut down its website and stopped returning phone calls. The company stated that it had over “5,000 companies as clients” as of this past summer. To say this has caused trouble for their former clients would be an understatement.
Why Small Businesses Are Thankful For Capital Funding
When you want to start a small business many of the initial decisions and plans can be fun! It can be fun to think of a business name and pick a logo. You’re passionate about it. You’re looking to solve problems for your customers. You have a mission you want to achieve—it’s all so inspiring! But starting a small business takes more than passion and inspiration. It takes resources, time, and something called “capital.”
A Capital Definition
We all know about capital cities and capital letters. But what is “capital” when it comes to the business world? We looked it up in the dictionary. Which of course—because this is the 21st century—means we Googled it:
- wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
synonyms: money, finances, funds, means, assets, wealth, resources
Capital Funding For Small Businesses
All businesses need money to get started. They need the funds to start and grow. Acquiring capital can come from many different avenues. You have to decide which is right for you and your business.
- Borrowing: Your family and friends might believe in your business and offer to lend you money. It can be such a confidence boost, but borrowing money can make enemies out of your friends and family. Risking those relationships can be well, risky.
- Investors: Investors exchange money for a percentage of company ownership. It’s more formal than handshake borrowing and requires some paperwork. But you might not want to compromise your vision with another person.
- Loans: Most banks can give small businesses loans to get started. They can have long application processes and often require collateral. You’ll be making installments of payments for the length of the loan.
- Grants: Depending on your business, you might qualify for federal or state-level grants. They are even privately funded grants out there in the world. On the downside, they can take a long time to come in. And the paperwork can be very time-consuming and confusing.
- Credit Cards: If you don’t have the cash on hand, you can charge your initial business expenses. The scary part is that you could keep accruing debt—you don’t want those interest charges to get the best of you!
- Factoring: Many small businesses benefit from factoring. You need to have some invoices to factor, so this works if you already have conducted some business.
Small Business Factoring
Small business factoring might be your best choice for capital for small businesses. If you sell to other companies or the government, factoring could be especially beneficial. Business-to-business (B2B) and business-to-government (B2G) companies often use accounts receivables factoring. Factoring means businesses sell their yet-to-be-paid invoices to a factoring company. The factoring company can pay up to 80% of the invoice amount right away. They take over the responsibility of the invoice and pay the business the rest (minus a small fee) once it’s settled.
United Capital Funding
Avoid complicated application processes, interest charges, and borrower’s guilt. Learn more by browsing our frequently asked questions. Then contact United Capital Funding for more information at 877.894.8232. You can even get a quick quote online. Let’s get your small business the capital it needs to succeed!
Article Posted On: November 13, 2018