Posted by NCF On August 29,2016
New business or old established businesses sometimes need additional cash to expand, implement new programs, purchase additional equipment, or add new staff to the increased demands. What are some tactics to get you the cash you need? Business Loan Small business owners can usually qualify for a small business loan easier than qualifying for a traditional loan, but it takes a while to get approved. You can receive information about an Small Business Administration (SBA) loan through your local lender. To qualify for this loan your business must meet qualifying criteria and provide statements of tax returns, personal history, profit and loss statements, loan application history, resume, bill of sale, and your lease agreement. This works through your local lender to guarantee repayment to your financial institution should you default on th
Posted by NCF On June 29,2016
Every business that wants lots of working capital, so that bills get paid and the company can grow, should try Invoice Factoring. Factoring is simple: A factoring company funds the cash payment based on the amount written on the invoice, then collects the payment from the customer. The final step is releasing the reserve balance minus the factoring fee. The process is easy, but how does invoice factoring help a company? What benefits does it provide? Fast Access To Cash Once the invoices are approved, you get the cash typically within the same day. This happens after the initial setup process that takes a few days, depending on how fast you gather the required documentation, but it’s still very fast compared to bank business loans that can take you months!
Debt-Less Cash FlowThis process is not a loan,
Posted by NCF On June 13,2016
Business owners often find themselves in a position where they need additional cash for their business. Many are turning to accounts receivable factoring as an easier alternative to bank loans. Some of the hidden advantages of factoring include: