Blog

Cash Flow Funding for Tech Companies

When it comes to business, some things will always be the same. An entrepreneur will see a problem or a need for something and get an idea on how to fix it. If there’s someone willing to purchase something, business will continue to be in existence. On the other hand, some things change entirely and such is the case with business. Technology has become the forefront of business in the modern age and has made a huge shift in society. For a business to succeed, they must become technological savvy or get beaten by competitors. When it comes time for cash flow funding for tech companies, Fast and Easy Funds is on standby!

Why Cash Flow Funding for Tech Companies is Important

The marketing and development of mobile application is expensive to say the least. The tech industry is one of the most competitive business arenas to enter. Even after a tech start-up has managed to get to a point where sales are stable, they must divert additional capital into research and development to keep up with the constantly changing demands of the consumer base. Another reason why tech companies need easy business loans is because clients can often be slow to pay invoices. IT companies need to have plenty of working capital to survive in the technology industry.

The challenge for IT companies is securing the capital necessary to keep up with day to day operations. Most tech startups are funded by the business owner’s personal funds and assets. Banks tend to be hesitant giving small business loans to tech companies due to how much competition they have. Fortunately, there’s a better option available. Fast and Easy Funds in Boca Raton, Florida is the leader in providing easy business loans for tech business owners, with approval decisions made in only a few minutes time. Contact us to learn how to receive easy business loans today!

 

Easy Cash Advances for Engineers

Beginning a new endeavor such as entrepreneurship is an exciting part of life. It’s also a challenge with unforeseen circumstances to face. Engineers are often among first time entrepreneurs. Part of that is due to their ability tendency to invent products that improve upon existing inventions or they may just create something new entirely. Inventions however, require patents, and patents can be expensive. Lending institutions such as Fast and Easy Funds are very keen on providing easy cash advances for engineers. No one else offers easy business loans at the rates that we do, or approvals in just minutes.

How to Apply for Easy Cash Advances for Engineers and Easy Business Loans
Before applying for any of our easy business loans, it is advised to have everything and anything in place that will help your business or product seem clear. For example, if you are seeking a business loan to market a mobile application that you’ve developed, then it’s important for you to show and explain why the application is important. One of the more important questions to ask yourself when launching a new business or product is whether your idea solves a problem. If so, then you must determine how to best explain this to your lender when it comes time to acquire funding.

Engineers have a knack for figuring things out, which bodes well in the eyes of a bank/lender, but it doesn’t necessarily equate to strong business acumen. With Fast and Easy Funds for example, we offer easy cash advances, but nothing is just given away. Fund are approved only when the application seems well thought out.

 

Do’s and Don’ts – Referrals When Applying for Business Loans

Launching and sustaining a successful small business is one of the most difficult things that an individual can do. In fact, most small business owners find themselves struggling to grow sales and keep up with the day to day expenses that often arise. For that reason, they turn to banks and lending institutions to seek options for fast funding for business expenses. However, most small business owners don’t have the assets, credit, or sales strength needed to be approved for the working capital they seek. There are still ways though for them to acquire what they need. Sometimes using who you know can be a lifesaver, meaning using referrals for business loans.

The age-old adage that the customer is always right, still weighs true. This is especially important in today’s world of social media. What matters when a small business owner seeks fast funding for business purposes is that the lender sees their business/company as being investable. Positive customer reviews are taken into consideration in this process. The same goes for any other form of word of mouth that you can provide. Referrals are great for business loan approvals, so any reputable business or customer that you can have vouch for you demonstrates to lending institutions that you’re doing something right. Faster approvals can be obtained from companies such as Fast and Easy Funds. However, it’s still important to have an additional party on your side when seeking an online business loan.

Whatever you do, don’t apply for a business loan and refer your lender to anyone that could potentially damage your name. Your reputation is everything. Don’t allow slander to prevent you from obtaining what you need. The same goes for negative customer reviews. Take care of these items first, before you apply for a small business loan.

 

Business Plan First, Working Capital Loan Second

When starting out as a first-time small business owner, you may be wondering what the best steps are to be successful. One of the things that any first-time entrepreneurs finds that they need plenty of is working capital. For a small business, it can take a while to generate a steady sales stream and even longer before the business can become profitable. That’s why business owners often turn to banks and other lending institutions for small business loans as an answer for their difficulties with inventory purchasing, marketing, and any other business-related costs. However, it’s not a simple matter to acquire a cash advance or loan. There are certain procedures that must be followed first.

Establishing a Business Plan Before Applying for a Small Business Loan

Although it is a wise decision to seek the working capital needed for business operations from a lending institution, a detailed business plan has to be in place. It is important for lenders to know what you plan to do with the funds if approved for the loan as well as how you intend to recoup the money they’ve leant you. An outline of the business is especially for entrepreneurs seeking small business loans for seasonal businesses. Because they may experience short periods of extremely high sales and longer estimated periods of lows, they need to be express this clear to the lender.

Fast and Easy funds is one lending institution that offers easy cash advances, short-term loans, and asset based lending options to assist small businesses, but without a business plan, it’s unlikely that the applicant will receive the funding the are looking for. For that reason, before looking for the funding needed to grow your business, make sure that you understand your business and can explain it clearly to a lender so that your loan application is approved.

 

3 Tips to Stop, Drop and Open Up Shop

Being able to work for yourself is sure to be ideal for most people. Studies indicate there are 28 million small businesses in the United States. This may allow you to set your own hours and work as little or as much as you like.  The good news is that starting up a new business may allow you to achieve the results you want when it comes to having a more flexible lifestyle. However, this may be much more challenging to do than you thought it to be. It’s ideal to know some specific tips that will be helpful in making your dreams come true with your new business adventure.

 

Create a Business Plan

 

An in-depth business plan is the first thing you need to have in place before you start a new business. First time business owners learn right away that getting a business into a state of financial sustainability is not without challenges. While you can never truly be prepared for what’s to come, it’s important to lay out the foundation for your business. A good business plan should incorporate, among other things, your marketing strategy, target customer base, and quarterly plan for growth.

 

Research Your Market

 

When starting a new business, it’s vital that you understand the marketspace you’re entering. It’s difficult to develop sales without knowing what your potential customers are interested in. Additionally, you should learn as much as you can about your competition. What have your competitors done to be successful? In what areas have they failed? When it comes to business, knowledge is power.

 

Develop a Budget

 

The easiest way to go out of business is to expend all your assets. Most small business owners begin with little to no business credit, and are typically short on capital. It’s important to put in place a budget that enables you to manage and track spending. For business owners who find themselves in an early deficit, lending institutions such as Fast and Easy Funds can provide fast funding for business needs. Before applying for a small business loan, make sure that you have clearly outlined your expenses and what sort of capital you need to cover them while you work to become profitable.

 

Related: 3 Ways to Get the Best Deal on a Small Business Loan

 

 

Review the Pitch – The Shark Tank Podcast

Unless you’ve lived underneath a rock, you’ve heard of the popular TV show, “Shark Tank.” Shark tank is a show where entrepreneurs pitch their companies and products to a panel of investors. The investors (The Sharks) consist of multimillionaires Barbara Corcoran, Lori Greiner, Daymond John, Robert Herjavec, Kevin O’Leary and billionaire Mark Cuban. The capital needs of each entrepreneur can range anywhere from business expansion, purchase order fulfillment, marketing, employee hiring and so forth.

What Makes a Shark Tank Pitch Successful?

The Shark Tank sharks invest in companies based on certain principles. They want to invest in a business that displays strong sales, has a clear-cut business path, can compete with competitors in the market, and has an owner that is dedicated and informed about the market. Some individuals go to the Shark Tank expecting the sharks to play a large role in running the company. However, the sharks are looking to help young (in business years) entrepreneurs get to the next level while making a profit for themselves. This is generally through cash flow funding or an outright purchase of the company itself.
After a review of the pitch, the most successful entrepreneurs/brands were found to be:

  • Credible
  • Agreeable
  • Interactive
  • Captivating
  • Relevant
  • Entertaining
  • Confident
  • Powerful
  • Funny
  • Inspirational

Lending institutions, such as Fast and Easy Funds, look for some of the same qualities when determining whether to approve a small business loan. Entrepreneurs who take the time to carve out a business concept that can likely get a deal on Shark Tank will have a high probability of getting a loan approved anywhere else. The most important thing to take away after a review of the Shark Tank pitch is that opportunities are available for those who go for them.

 

Related: Misconceptions About Small Business Financing

 

South Florida Business Prepare for Season with Easy Cash Advances

South Florida Business owners, like all others, are no strangers to financial hardship. Every now and then, sales reports see a slight dip in numbers and business owners turn to Fast and Easy Funds for easy cash advances to cover expenses. Business loans for seasonal businesses are especially prevalent during the summer.

Why do Small Business Owners Seek Easy Cash Advances During Seasons of Slow Sales?  

Everywhere you look, small business owners are utilizing easy cash advances to sustain themselves. Part of the reason is because traditional bank loans with their high rejection rates and long application processes, have become less attractive to small businesses. This is a driving force in the demand for cash advances and often an easier alternative for entrepreneurs who want loans for seasonal businesses.

Differences Between Cash Advances

Of course, cash advances vary from lender to lender. Some may come in the form of a line of credit rather than a traditional loan. Consequently, not all cash advances are equal. Depending on the lender, you may have a good experience or bad experience. It’s important that wherever you go to acquire your short-term loan, that you go to a lender that’s reputable.

There are some cash advances that you can access simply by going to the ATM and using your credit card, applying online, or talking to your lender. These are typically easier, but charge a significantly higher interest rate. Another is a payday loan, in which an entrepreneur can take an advance on anticipated revenue.

For more information about cash advances and which is best for you, contact a rep at Fast and Easy Funds today.

 

Related: The Best Collateral to Use in Loan Applications

 

 

What Does the SBA Do Anyway?

What does the SBA do exactly? The SBA (U.S. Small Business Administration) is an independent agency of the federal government that works to aid, counsel, assist and protect the interests of small business concerns, preserve free competitive enterprise, and to maintain and strengthen the overall economy of our nation. The SBA works with private investment funds that search across the United States for promising businesses in need of debt or equity financing. The SBA doesn’t directly lend money to businesses. Instead, it backs loans that banks and other lending institutions make to small business owners.

How Can Small Business Owners Benefit from SBA Loans?

Any entrepreneur, be it a small business owner or a seasoned corporate entrepreneur, is fully aware of the financial difficulties associated with the first few years of opening a company. There are quite a few obstacles for an owner to hurdle including:

  • Establishing an unknown brand to a new customer base
  • Fighting off competitors who already have a foothold in the market
  • Allocating financial resources for growth while attempting to grow sales
  • Maintaining profitability during non-peak seasons

It’s in these situations that entrepreneurs ask themselves, “What does the SBA do and how can I benefit from them?” The SBA favors and supports the growth of ambitious small businesses. When acquiring business capital becomes an issue, small business owners can turn to lending institutions such as Fast and Easy Funds, who will then guarantee an SBA loan and help owners get their company back on track. SBA loans are the best way for small business owners to get added help with loan approval, especially when they’re out of options.

For more information on SBA loan acquisition, contact Fast and Easy Funds today. There’s no better place to go for easy cash advances, asset based loans and purchase order financing!

 

Related:  When to Turn to Lenders for Capital

 

Misconceptions About Small Business Financing

It takes money to operate and grow any business. Sometimes the demand can outweigh the supply, forcing entrepreneurs to seek out alternative options. That’s where small business loans come in. For many small business owners, the word “loan” has negative connotations. It’s understandable why that may be, as small businesses are known to climb upwards for long periods of time before they reach profitability. Here are some common misconceptions to that small business owners need to be aware of when considering small business loans.

“It’s always a bad idea to start a business with debt”

Small business loans aren’t the end of the world, nor does initial debt spell disaster for an entrepreneur. If you can secure start-up capital through crowd sourcing or other investors, then you will find yourself in the ideal position of not needing to take out a loan at all. Unfortunately, it’s no small task for new business owners to acquire the funding they need without taking on a business loan. Some businesses are in an industry that investors may not have an interest in, or if they are, they may have to relinquish equity in the company. Sometimes it’s best to begin with debt knowing that you have a high probability to pay it off than to lose partial control of your company.

“Lenders aren’t interested in supporting small businesses”

This is a misconception that deters new business owners from applying for small business loans. Though it is true that new businesses have short life spans depending on the industry, there are always companies that are willing to give new entrepreneurs a chance. Fast and Easy Funds in Boca Raton is a perfect example of one such lender. We specialize in financing options for new businesses, offering entrepreneurs opportunities to obtain the needed start-up capital to acquire inventory, fulfill purchase orders and other common small business expenses.

 

Small Business Loans Versus Mid-Sized Business Loans

There’s a large variety of financing options for Boca Raton business owners, each with its own benefits and drawbacks. However, the size and age of the business can greatly limit those prospects. That’s why it’s best to turn to the most reputable business lenders for inventory and purchase order financing needs: Fast and Easy Funds.

What are the difference in chances for small businesses and larger businesses to obtain loans?

It’s important to understand the different in small business loans and mid-large sized business loans. Larger businesses have more access to financing than smaller businesses for several reasons. For starters, small businesses don’t have the number of assets that larger businesses possess. This is important in the eyes of banks and small business lenders when they are considering loan applications. Business lenders want to ensure that they receive timely payments on loans and small businesses present more of a risk factor when it comes to payments. The assets that larger businesses hold can be used as collateral or sold to pay back loans, giving them more of an advantage over smaller businesses.

Additionally, larger companies possess a longer business history with established sales. This is a major advantage that they have over small businesses. Every small business owner is going to see struggles with inventory and purchase order financing, and must figure out how to obtain the capital needed to keep their business moving forward. Larger business owners have figured this out already, making them more investable in the eyes of lending institutions.

Reputations also play a strong factor in business financing. For instance, a Boca Raton lending institution may review an application from a small business owner whose company has only been operating for a year and a half. Although they’ve only been in business for a short period of time, their brand name has managed to spread among consumers in a manner that competes with established companies of over 20 years. Due to that brand recognition, they are more likely to be approved for a business loan.