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Unsecured Business Lines of Credit For Startups

Unsecured business lines of credit are similar to a cash advance from a credit card. Instead of a credit card company, though, you are getting the line of credit extended from a lender. The lender will give you an amount of credit, and you can use it when you need it. You maintain a balance owed plus interest on that balance and make payments as agreed upon. An important thing to note here is that since it is unsecured, it means you don’t have to put up any collateral to get it. (more…)

By |September 23rd, 2015|Uncategorized|0 Comments

What You Should Look For In a Franchise?

Owning a business is a great opportunity for a hardworking and hardy person, but it is imperative that you first do your homework to make sure that you set yourself up for success. Some tips for what to look for in a franchise are detailed below. (more…)

By |August 25th, 2015|Uncategorized|0 Comments

This Is Why You Should Choose Factoring Receivables

It is an exciting time to be in business. With more different options for financing and fundraising than ever before, your opportunities can be managed in a way that fits your business; instead of finding a way to make your business fit the strategies that work with the funding. This provides a new way for companies that would find traditional business loans with fixed payments and (usually) secured assets a real challenge. Loans that are based off future sales, outstanding invoices, and other mechanisms that are less dependent on history and more dependent on the future can really help a developing business grow. One of the best ways to take advantage of this is by factoring receivables to free up your cash flow.

Factoring Benefits

Factoring is a way of gaining a cash advance on your outstanding invoices, and it is one of the lowest-risk forms of financing available to small business owners. Some factoring agreements even include explicit protection from default for the borrower, and they can do this because the borrower is not technically the one who has to repay the loan. Instead, the factor collects payment through the invoices owed to the borrower at the time the loan is made.

This allows you to use factoring receivables as a way of getting your outstanding invoices now, minus a percentage and some fees, and that can allow you to put that money to work right away. As your customers pay to factor, they will deduct their fees from the payment and forward any leftover balance to you, so you still do collect a portion of the money that was not advanced, too.

Limitations and Considerations

As you might be able to imagine, factoring opens up a lot […]

Why Equipment Leasing & Financing Will Work for Your Business

The urge to maintain complete control of a business through outright ownership of all operational assets is a natural one, and, in a few rare instances, it may make sense to act on this instinct. For many businesses, however, the benefits of equipment financing or equipment leasing outweigh those of outright ownership. For these companies, leasing or financing equipment provides several ways to stay agile and viable in the marketplace by avoiding opportunity costs that are incurred when large chunks of capital are tied up in expensive equipment.

Keep Cash Flowing

A large outlay of capital for equipment purchases reduces a company’s ability to budget for other operational needs. This is especially troublesome for new businesses, which may be strapped for cash as they struggle to establish themselves in the marketplace. Equipment financing and leasing frees up cash flow, so that instead of allocating the majority of resources to the acquisition of necessary equipment, operators are able to fund other areas of the business including marketing, research and development, and expansion.

Stay Relevant in the Face of Changing Technology

Even the best companies will fail if they allow their services to be obsolesced by new technology that changes the rules of the game. A shipping company that purchases a fleet of trucks that run according to this year’s fuel efficiency capabilities will be at a competitive disadvantage in the marketplace if next year a rival begins using a newly introduced truck that allows them to save money by cutting fuel expenditures. By entering into leasing agreements, businesses can avoid being locked into long-term commitments to the equipment they use, allowing operators to stay nimble and ready to adapt to new technologies that advance quality and efficiency standards in […]