Business owners are starting to rethink the way they finance their businesses. Newer, alternative funding options have been gaining popularity fairly recently, and for good reason.
Traditional means of obtaining small business funding are becoming a thing of the past. Within the past couple of years, the number of small businesses seeking capital through banks has gone done by 27 percent – and it is predicted that percentage will continue to fall over the next couple of years.
One of the reasons why traditional bank loans are still a business owner’s go-to is because not many people realize that there are other options available to them. Or, if they are aware of these options, there may be misconceptions that have been cemented in their minds due to a lack of education on how exactly these alternative lenders work.
What should you know about business financing that you may not already?
Before you start the process of acquiring capital for your business, it’s important that you are aware and well-versed on the ins and outs of business funding.
Traditional bank loans aren’t – and shouldn’t be – your only option.
EIN Cap believes that a small business’ worth shouldn’t be defined by their credit score. We understand that you are low on cash. If you can show us exactly how your business is growing, you want to help you finance that continued growth moving forward. It is a lack of finances that has been holding you back. We offer merchant cash advances that will allow you to access working capital in a “cash-flow friendly” way that ensures you will not have to pay those fixed monthly amounts. This new approach to small business finance is how we have been able to support thousands of small businesses.
Your credit score will not determine whether you qualify for funding.
We are very transparent with the business owners who seek capital from us. We will ask to see your credit score, but that will not be the deciding factor on whether we think you’re a good candidate for funding. We want to see the health of your company, which will show us whether small business funding will work to grow and sustain your business. If so, we will work with you to ensure you are receiving the capital you need to push forward.
The waiting period to receive your funding will not take months.
You shouldn’t have to wait months to go through the approval process. That is only hindering your opportunity for growth. Getting business capital through us is a fast process with high approval rates. You should have access to your money when you need it, which is why we pride ourselves in being able to wire money into your account 1-2 days after you have been approved.
Don’t shy away from alternative options for funding! The services that EIN Cap provides should become the new go-to source of capital for business owners. To learn more about how we work or to start your approval process today, contact us!