SMB Funding’s Post

Is your business credit score holding you back? Our guide to business credit scores shows you five important ways to get your credit score back on track. https://lnkd.in/g_wnaZ8Y #CreditScore #Lenders #BusinessStrategy

Providing a personal guarantee may not appear to be risky if your company is flourishing and there’s no suggestion of financial difficulties in the near future. A business can decline very quickly, however, so it’s vital to seek professional advice before signing a personal guarantee for business borrowing.

Cash flow is the life blood of any business. Many businesses are having cash flow issues. Maybe it is from losing customers, or customers not paying on time, or customers taking time to place orders. Maybe is is that the outflows (expenses) are higher than the inflows (revenue). What ever the cause or reason, maintaining cash flow is crucial. Lack of cash flow is one of, potentially the most common, cause of a business to fail. The economy is facing uncertainty, having capital gives you confidence. A good safety measure for cashflow is to have 3 months is capital as a reserve to ensure that your business can keep operating even with short term cash flow pressures. By 3 months, I mean enough money to cover all your expenses (outflows). So, if you expenses are $25k a month, you should have $75k in capital. That 3 months of capital, and by capital I mean either cash, or a working capital facility like an overdraft or line of credit, can save your business. It can also mean you are in a better position to get opportunities. For example, you have more money in the bank so you can bid more aggressively on pricing a new project, or you might be able to order more stock and negotiate a discount with your supplier for upfront payment. You might even get the opportunity to acquire another business, one of your competitors, because they might not have the capital to keep running and you could buy market share. We work with around 50 banks and non-bank lenders for all sorts of cash flow lending solutions. Some of them use property as security to get a lower rate, some of them use your business assets like invoices or equipment, some are unsecured. The right solutions depends on your business, how much you need, when you need it, and what security you have or want to use. If you want to boost your cashflow and put in a working capital facility the time to do it is before you need it so we have time to explore all the options for you. Reach out to me anytime to discuss what options there might be and to see how we could get you the 3 months capital needed to keep confidently running and growing your business. In this month’s newsletter, we’ve got a diverse mix of stories covering everything from economics and tax to business loans and car finance: Inflation rises to 4.0% ATO issues tax advice Business loan tips Big jump in EV sales https://lnkd.in/gXKwvedN

Are you building business credit for your company? While most people are keenly aware of the power of good personal credit, business owners often overlook the transformational advantages of building strong business credit. From unlocking access to capital to protecting the owner and boosting reputability, building business credit is a smart move for any business. Read more about it on the Lili blog: https://ow.ly/42Wh50TrtSw #BusinessCredit #SmallBusiness #Finance #SMBs #BusinessGrowth #Lili

Business owners should always be aware of financing options that help them expand their company. Lines of credit can be beneficial to helping your business. The key to getting the best terms is to apply when your company has positive cash flow. Access the cash only when it is necessary. Here are some things to consider about a business credit line: https://bit.ly/3QSaII6

Need funding for your business? Find out how a cash advance broker can provide the support you need to access the capital required for growth. Check out our blog post for more details!

Revenue based funding is an agreement between a business and a lender. The application process typically takes just a few minutes, with funding often being approved within two business days. 1. Agreement Overview - RBF is a financial arrangement between a business and an investor. The investor purchases a portion of the company's anticipated future revenue at a discounted rate. 2. Application Process - The application process for RBF is quick, typically taking just a few minutes. Businesses seeking financing provide necessary information during this process. 3. Approval and Funding - Funding approval for RBF is often swift, with a typical turnaround time of within two business days. Once approved, the business gains access to the funds it needs. With Revenue Funding you have capital options that are more manageable and cost effective. Eliminating the long term commitment that so many businesses have been told to believe. Receiving capital in days not weeks, can make the difference between growing your business or slowly closing the doors because of missed opportunities. Call 226-568-9397 to speak directly to me Christopher. Visit the website below to better understand the process and qualifications needed. https://lnkd.in/g_2wtakZ We want to help fund your business growth. When your bank can’t help we can. Call 226-568-9397 speak with me Christopher to see if Revenue Funding meets your business needs.

How to become a fundable business: ↳ Establish a Strong Business Identity: Ensure your business name, address, and phone number are consistent across all platforms. Tip: Don’t use your home address as your business address. Get a traveling mailbox. ↳ Maintain Healthy Financial Statements: Keep detailed and accurate financial records. Show consistent revenue growth and positive cash flow to attract potential lenders. ↳ Build a Robust Credit Profile: Open a business credit card, pay bills on time, and work with suppliers that report to credit bureaus to establish a strong credit history. Follow these steps to improve your fundability and make your business more attractive to lenders. Want to build your business credit and get funding in the next 3 weeks? We’ll give you the steps in your free funding plan. Send me a message or visit bizzcred (dot) com.

Find out if borrowing for your business makes sense now by asking yourself 6 key questions. The post Should You Borrow to Help Grow your Business? 6 Questions to Ask appeared first on Discover & Learn.

Need funding for your business? Find out how a cash advance broker can provide the support you need to access the capital required for growth. Check out our blog post for more details!