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Showing posts with label working capital. Show all posts
Showing posts with label working capital. Show all posts

Tuesday, July 19, 2016

Startup Business Financing

Before you start to obtain startup business financing, it is very important that you determine the approximate amount that you will require. The current assets minus current liabilities will be the working capital of the business. Most of the time, you can see such information in the balance sheet and through this you will be able to know how much money will be required to carry out your business on a short-term basis.

Having found out the amount of startup business financing required, you will have to think of a way in which you can get a loan for your business.

o Start-up Financing is available to entrepreneurs whose business is based on a solid business model with a credit worthy structure. o Banks award business loans to those that have a well spelled out plan which showcases your partners, your track record, your strategies and advantages.

Banks are conservative where investments are concerned. The chances of getting a loan will be more for an existing business in comparison to a new one.

o No bank wants to lose money by taking risks. If your business proposes to be a risk, you'll have to work harder to get your small business loans approved

On the other hand, you will be able to acquire a startup business financing loan if you make a good loan request and have a good plan for your business. Help can be obtained from the SBA as well as the Small Business Development Centers can be obtained easily, as they are situated in most major cities in the United States. Your business plan must consist of your personal bank statements, sales and cash projection. If you are taking the help of the SBA then you will need to state how you will reimburse the startup business financing loan and you will also be required to guarantee the same. The bank might want to see your personal investment in the business apart from the time that you give to the business.

o Banks would want to know your business's financial prospects. They want to gauge its worth and how much money you're moving. o Alternative sources, (excluding banks) may want you to "pay" more for your start up business loan. o You may have to pay higher interest rates. You might also need to offer some equity in your business to receive funding

Ways in which you can get loans faster and easily

Financial assistance sometimes comes from institutions in the form of credit or loan. This loan can be obtained at a relatively short period of time and there are financial resources that will help you get the loan. Few of such startup business financing resources are:

- Credit cards: You can get a credit ceiling of twenty thousand dollars (for your small business) from big credit card companies if you have a good credit record. - Unsecured business loans: Try such a loan if you do not want to guarantee the loan personally or if you do not have a credit record. - Equipment leasing/financing: Many companies are willing to lend you the money taking equipment as collateral for your loan. - Asset based loan: is ideal for using equipment to acquire loan, account receivable or leveraging your stock.

o Those having a mortgage with a bank, find it easier to obtain small business loans. o Check newspapers for financing offers. Such institutes grant small business loans and processing might be easier with them. o Availing a start up business loan has become easier, thanks to a growth in competition among lenders. o Plenty of channels are available for raising capital. Most of the above avenues have abundant variations. Build up a solid business plan, along with a financial adviser, and just start asking.

Do not forget to check your financial requirements regularly and inform the investors about the financial position as well as the progress of the business on a regular basis.

Hi, I'm Akhil Shahani, a serial entrepreneur who wants to help you succeed. If you like to work smart, check out http://www.SmartEntrepreneur.net It's full of articles and resources to help you start and grow your business successfully. Please visit us & download our special "Freebie of The Month" at http://www.smartentrepreneur.net/freebie-of-the-month.html

Wednesday, July 13, 2016

Working Capital Financing Options To Raise Business Capital

It is no longer unusual to hear about start up and small business struggling with the finances of their ventures. More often than not, this does not stem from a lack of proper planning, and from profits that were never realized. There are simply times wherein business capital is no longer enough to cover for all the expenses needed to keep the business operating. And in times like such, business owners need reliable financial institutions that can offer them the working capital financing that they need. In this way, they will not have to waste a day of operations because they do not have money to spend.

Through working capital financing, business owners can have a good range of options when it comes to raising or increasing their business capital. They can select from options like applying for small business loans, making cash advances, credit card factoring, and opening business lines of credit. These are only some of the few financing options that business owners can resort to during those times when they need additional capital for their business.

Among these options, small business loans appear to remain as the most popular. However, it is not all too easy to qualify for a small business loan. A business must have a good credit history to qualify. And to most small business owners, having good credit ratings can be quite elusive. This is because building business credit requires time and time is something that most start up business owners do not have.

This leads most small business owners to consider other alternatives. A merchant or business cash advance is seen as an easier way of gaining additional business capital. So does business lines of credit and credit card factoring. These options do not require good credit scores. What matters more to these options is for small business owners to have good monthly sales volumes. The method of payment and repayment are also less burdensome. Payments and repayments do not come in fixed schedules. Instead, payments and repayments often come as a small percentage of the monthly sales that the business is able to generate.

You can learn more about these working capital financing options through financial firms near your area. You can also go online to learn more about them. Most financing firms already have online presence and these days, you no longer need to physically travel to the nearest financing office to apply for business capital financing options.

For more creative working capital financing strategies and merchant capital alternatives, visit our site today.