Existing businesses seeking business financing have a harder time than start-ups, in securing a business loan. Entrepreneurs in search of start-up capital for their businesses can invent favourable figures in their projections used in convincing the bank to provide financing. A business owner looking for additional financing for his already established business does not have that luxury.
The bank wants to see cash flow figures. But lets face it, your looking for financing because you are in a cash flow crunch. Unfortunately the bank does not want to get involved in a risky deal. There might be a lot of potential for your business but it’s hard for the bank to ignore that your receivables have not been steady and your development costs, overhead, and incurred debts are discouraging. At this point, if the banker chooses to continue the meeting, your business plan comes into question. So what’s the plan? Are you there to expand or survive? Many businesses need additional financing just to survive. But the bank has little trust and hates to gamble, so convincing the bank to get involved in your struggling but highly potential venture is never an easy job.
The good news is that financing is available. Businesses, regardless of credit or a positive balance sheets, can utilize a business cash advance as an alternative to business loans or other traditional small business financing options. The application process is very simple, transfer of funds is fast and the only determining factor for approval is the volume of credit card sales your business does per month.
If your business processes more than $2500/per month in credit card sales, get a fast cash injection up to $250,000 and improve your business cash flow situation with an unsecured business cash advance from FastUpFront!