Online Business Lending in 2017

Online business lending will not be slowing down in 2017. In fact, more loans will likely be given out this year, as the need for capital to expand businesses increases. This does not come as a shock to online lenders.

Last year was an interesting time for the lending community. For the first time, big banks took it upon themselves to enter the industry of online business loans to compete with online lenders like Fast and Easy Funds. Business loans increased dramatically, and the merchant cash advance remained one of the most popular online business loans for entrepreneurs.

What 2017 has in store for us:

  • For starters, most online business loans. The general consensus is that technology is speeding up the process of online lending, making it cost effective and easier for business owners to get the capital they need.
  • Minority owned business are going to have more access to online business loans. Business loans for woman will be a focus for online lenders.
  • For the first time in eight years, the republican party will have the presidency. For the first time in almost 100 years, one party will hold the house, the Senate and the Presidency. This should make for some interesting consequences economically, because a more fiscally conservative ideal will be held by all major branches of government. This could mean more freedom for online lenders; thus, more access to loans like the merchant cash advance.

It is certain that 2017 holds a new set of challenges for us all, but the outlook is optimistic on all sides. Learn more about the business loan options at Fast and Easy Funds and allow us to make sure your 2017 is a year of positivity and growth.

The Top 5 Rules for Startups

Mark Cuban is one of Americas most iconic entrepreneurs. He is a famous investor, television personality, and owner of the Dallas Mavericks, Landmark Theatres, and Magnolia Pictures.  Many entrepreneurs look to Mark Cuban for advice and guidance on starting and running a successful business.

Fast and Easy Funds chose the top 5 most important rules for startups we think will help you with your very own business:

  1. Do not start a business unless you are completely invested in it. If your heart is not in it, do not waste your time. If you have an exit strategy, your heart is not in it.
  2. Be intentional with your hiring. Your team should be diverse in backgrounds and perspective, but should also agree on the core values of your company.
  3. Keep your office open. Cramping employees into cubicles and shutting everyone off from each other hinders morale and productivity. According to Cuban, “Open offices keep everyone in tune with what is going on and keeps the energy up.”
  4. Sales cure all. Cuban says regardless of a company’s issues, if they can generate sales they will be successful.
  5. Make the job fun for your employees. Investing time and energy in your work is important, but one of the top rules for startups is to monitor the stress and accomplishments of your employees. If stress levels are too high, modify their work. If the accomplishments are consistent, reward them.

As Cuban says, “It comes down to finding something you love to do and then just trying to be great at it.”

Inventory Financing Benefits Small Businesses

Fast and Easy Funds’ inventory financing loans have helped many small businesses by providing them access to working capital. Inventory financing loans are particularly appealing to retail companies since they can help strengthen their business and allow them to deliver superior customer service to their patrons.

Fast and Easy present the ways in which inventory financing for small business allows for cash flow to purchase additional inventory and grow your business:

– Having access to additional inventory by using an inventory financing loan will allow the store room and displays to be completely stocked with merchandise. From the customer’s perspective, seeing full shelves or seeing that inventory is in stock is a relief in the fact that they can probably find what they are looking for. If you are out of a product, then this translates to zero dollars in sales for the business. Inventory financing ensures that your store’s inventory is stocked and ready for sale, at all times.

– If you have been turned down for a loan due to non-existent credit or poor credit, then taking out a loan based on your existing inventory is a good option that will allow you to build or heal your credit score. Most banks do not offer traditional loans based on inventory lines of credit.

– Seasonal businesses benefit greatly from inventory financing during slower times. In order to adequately prepare for a surge in sales in busier months, businesses need to be prepared and inventory financing loans can make this happen.

Deciding if Inventory Financing is Right for your Business

Financing is one of the toughest aspects to owning a small business. Many small businesses get their financing from investors, bank loans, and/or credit cards, these can actually negatively impact your credit score. If your company has a longer sales cycle, your business may encounter cash flow problems that will make it difficult to make monthly payments with these types of loans.

One option that may work for your business and revenue model is Fast and Easy Funds’ inventory financing. Inventory financing allows you to use your business’ biggest investment, your inventory, as leverage as collateral against a loan. Businesses choose to use inventory financing during periods of the year when they need to increase inventory, since it gives them extra money and inventory to meet demands.

Fast and Easy Funds knows that with any business decision that involves money, you need to carefully weigh the pros and cons of inventory financing.

Pros:

  • It doesn’t count on your credit
  • Decisions for inventory financing are made fastly
  • Inventory financing has low barriers for entry; it is a fairly low-risk proposition for the borrower
  • Fast and Easy offers inventory financing on in transit inventory

Cons:

  • Many lending agencies consider inventory financing to be a high-risk investment
  • You have to keep in contact with your lender regularly
  • Floating interest rates can be variable and cause borrowers to pay more in fees which does not get applied to the loan’s balance

Finding funding for your business can be a challenge, but Fast and Easy Funds has a variety of funding options. If you need help getting funds for your business visit Fast and Easy online today and get cash fast!