Small businesses need financing occasionally, whether it’s start-up funding that is so very important or money needed to expand a young business that’s proven to have the product or service that customers want. Even an established company that does well almost all the time may find itself in need of a boost on the books during difficult economic times.

Those tough times may be general to the economy or might be specific to one industry; however, the need for funds may be there. But most business owners and managers know that they won’t be able to step out the door and into the bank to get whatever they need. There is a process to obtaining the money that your business needs and a few details you should understand when you begin your search.

Key Word: Alternative

Your first choice when you begin to consider financing might be the most traditional route – a loan from someone you sit with face to face at the local bank. But, before you take this step, you should consider a real alternative in the form of a cash advance. This can be a simple method and may be accessible when other sources are not available. In addition, this type of financing can often be ready to use in a matter of days.

In addition to putting the word “alternative” at or near the top of your list when seeking funds for your small business, you should also think about how “liquid” your money is and can be. If you have no operating funds or an amount so small that it doesn’t meet your needs and you have to wait for weeks to get financial help, you could safely say that your situation isn’t very liquid, in one sense of the word. However, if you can quickly and efficiently start making things happen financially, you might be able to say that your situation is rather liquid. Your business can keep moving forward with little stress.

Mohammad Hamdoun

The Goal

The goal when seeking loans for business in Surrey is to have control over cash flow, which doesn’t happen with classic time-consuming loans. So how do you achieve this alternative type of financing? You do it with a merchant cash advance, funds that are unsecured aside from being based on monthly average takings from the debit and credit card transactions. The business can access the cash advance and will pay that back plus a factor rate determined as a daily percentage of takings until repayment is made.

Factoring as a finance method provides cash up front with the company “selling” its receivables and takings to have access to funds. This is a great way to approach business finance for companies that fill orders or provide services well ahead of the time when customers and clients make payment. The basic requirements that your business must meet are: 12 months of card-processing history at minimum, average monthly card turnover of £3,500 at minimum, must own business premises or have 12 months left on your lease. Getting necessary funds in any economic setting can be difficult and stressful. This can be the alternative that you’re looking for.