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3 Possible Solutions for Business Funding.
If you are a small business owner, you know that not every month is a home run. Yes, your bills and employees get paid, but what about you? Did your business grow? Do you have enough working capital to achieve your goals and stay ahead of competitors? Unfortunately the answer isn’t always yes. In order for your business to thrive, you need to spend money on marketing, getting new clients and buying new equipment; it’s hard to do that if your bottom line doesn’t move in a positive direction every month. Below we will outline a few ways in which you can get the capital you need without a huge monthly payment to some large bank where you had to offer up your first born in order to get them to say yes!!!
Option #1 - Reach into your personal pocket:
Owning your own business can come with a lot of risks, but when your personal property is used as collateral that initial risk drastically increases. As a person you have a lot of options that you yourself can use to get your business the money that it needs to grow to the next level without having to give up part of your business to a venture capitalist or angel investor. Those looking to finance their business on their own may find that they have a lot of personal assets available to them: cash savings, personal credit cards, property on which a loan can be taken out, a 401 K plan or other retirement account that can be cashed in early, or a life insurance policy that can be used as collateral on a loan.
The biggest problem with this method is that if your business begins to fail or goes down-hill, you can potentially lose important assets. According to a study done by The Wall Street Journal, most business owners over commit to their dreams, but ultimately end up hurting themselves and their personal financial health. Know your risk before making an over-zealous mistake.
Option #2 – Borrow from a friend or family member:
This method has the potential to be a great source for emergency funding for your business; however, the obvious limitation here is that valued relationships can be put in jeopardy. Why take a chance with a valued friend or family member when you can easily obtain an MCA elsewhere?
Option #3 – Contact Quick Fi Capital
Not to toot our own horn, but this is by far the best option for many business owners. By working with us you can get the funds you need without tying up your personal assets or causing financial grief with friends and family. I’m sure many of you have noticed that getting a loan these days isn’t as easy as it once was. The large banks are still feeling effects from the housing market issues from mid-2008, which nearly buried the industry, and they are not rushing to hand over cash to small businesses. Quick Fi Capital has an 89% approval rating, offering you a great chance to get your business funded. Our one page application is quick and easy to fill out and all we need to get you an approval is 6 months of your recent bank statements. An additional perk of working with us is minimal paperwork. We dot all the i’s and cross all the t’s so you don’t have to. That way you can focus your time and energy on what you do best- growing your small business.