Starting a business, whether small or medium-sized, is no child’s play. Anybody who has ever started a new business will have had their fair share of starting up blues. There are some critical factors that anybody anticipating a new business will do well to know.
It is important to find ways to jump-start your cash flow immediately. If you own a small or medium-sized business, you will need to have the cash to pay your staff and also pay your suppliers.
A business that is able to prove its stability can qualify for a loan, but securing a business loan from a bank can be a long process and then still end in it being declined.
To grow, a business may require an immediate loan or fast funding to expand. With one of the most expensive purchases being new equipment, with such speedy funding, it does not require dipping into its existing cash flow.
All you need to know about fast funding
Possible to get funding without a trading history
A merchant cash advance can be useful for a business that does not have good credit- or collateral rating. These are popular as they give business owners the chance to get funds even if they do not have a solid trading history.
Merchant cash is based on your business’s future sales, and comes as a lump sum payment to a business in exchange for a percentage of future sales. Retail businesses make use of merchant cash advance companies because they do not qualify for regular bank loans.
As a direct lender, Porter Capital has already provided billions of dollars worth of funding for businesses. As an invoice factoring and business funding company, they see to it that funding is available in less than 24 hours.
Every business needs funding quickly and Porter Capital offers alternative funding solutions such as factoring and inventory financing and accounts-receivable financing, so companies are approved and funded in double-quick time.
This business financing for small and medium-sized companies can be anything from $5 thousand to $15 million.
Know how to Forecast Business Trends
Acquiring machinery and equipment is a major commitment for any business, but lack of cash can be a huge problem for a business. Knowing how to manage cash effectively will require a skilled entrepreneur who is able to forecast business trends so that a business knows when to buy. Hiring an efficient accountant who can be trusted to track the flow of cash through your businesses and provide accurate accounts of the cash available becomes a necessity.
You could say that speed is a great drawcard when working with Porter Capital and they can provide funding on factored invoices in as short time as 24 hours. They know too well that quick deposits can protect the cash flow of a business and ensure it has the capital to grow.