What Can Quick Funding Do for Your Business?
- December 24, 2020
- Written by : Elizabeth Beall
We live in an era in which decision making, purchasing, and researching come at the quick touch of a button.
All we need is a finger to lend.
No matter what we need to do, our expectations are that it can be done, and done quickly.
Why should it be any different when it comes to Quick funding your business?
What is quick funding?
As small business owners ourselves, weâ€™ve experienced â€œthe huntâ€ for proper financing. After our experience, we decided to streamline the entire loan process by putting it online.Â
This makes it possible for you to complete processing in hours versus days, and obtain funding in days instead of weeks.
Why choose quick funding?Â
If you have tried to get a small business loan through a traditional bank, then you know the drill: big applications, excessive documentation, long processes, and high fees.
Bank loans are unfortunately not the best way to acquire quick cash, and when you are running a business, immediate working capital is crucial. Everyday expenses like rent, supplies, and payroll are only some of the many costs you may run into while operating.Â
When you need to pay for something, you need to have access to funds to afford to.
Are there multiple kinds of quick funding?
Absolutely â€” funding depends on you businessâ€™ needs, so not every loan is a â€œbest fit.â€Â
We offer various types of funding to ensure we can provide you with exactly what you need to support your business.
For example, if you need help with payroll, we might suggest invoice financing for you. Whereas if you need immediate cash on hand at your convenience with the option to pay as you go, we might explain how a revolving line of credit may be the best for your business.Â
To see a full list of our funding products, visit us here.Â
What can quick funding do for your business?
Funding could mean the difference between staying open or closing. It could mean paying your employees or not. It could mean being able to expand your small business through marketingâ€¦ or not.
From 2016 to 2019, The British Business Bank reported that businesses sought funding for the following reasons: 38% for working capital, 30% to purchase fixed assets, 8% to improve premises, and others including expansion, refinancing, and startup costs.
For a more detailed answer, Float explains that working capital funding can help businesses in many circumstances:
- To support new opportunities and investments in products or services
- To provide short-term funding to allow for growth or bridge the gap between customer orders and supplier payments
- To have a cushion with extra cash on hand for day-to-day running costs
- To handle unexpected costsÂ
- To cover basic expenses for seasonal businesses in need of funding during slow times
The reason will always be present.
If you need quick funding, take quick action. Apply today in three minutes and make the decision to fuel your growth.