It doesn’t matter what business you have in mind or are running, at some time you are going to require financing. Certainly, every start-up business will have those large starting costs and an established business that is growing will need to finance that growth.
New businesses battle to secure a loan from the banks
Funding for a business will depend a lot on the kind- and size of business you have. Some businesses have access to business loans from a bank that isn’t available to a start-up for instance. In fact, it is difficult for a new business to get a loan from a commercial bank, and when the loan-door has been slammed in their face, where do they go?
Financing for a start-up can be frustrating because where is the money going to come from to buy equipment and pay salaries and rent?
Where you look for the money will depend on how much you need and for what purpose. You can see that banks aren’t always likely to loan money to start-up businesses as they regard them as risky business ventures. However, a business that has been around for a few years and has built up assets that serve as collateral stands a bit of a better chance.
Look for financing elsewhere
Every entrepreneur needs plenty of money to start their own business, but the reality is that you have to prove yourself first before the bank will put up that kind of money. The best thing is to steer clear of the banks and to look for financing with PorterCapital.
When you look at customer reviews, you’ll see that the thread running through the reviews of the company are positive. Customers say that PorterCapital says ‘yes’ to funding businesses through invoice factoring when the banks have shouted out a firm ‘no’.
The company brings hope to businesses of all sizes, freeing up cash flow from unpaid invoices. They were founded in 1991 to offer working capital solutions to a host of different industries. As a direct lender and factoring company, they have provided billions of dollars in funding to businesses, providing them with hope and encouragement when there was none.
Every business will need financial help
Any business, whether new or established, is going to be needing cash to see them through bad times. These bad times can become too much for a business and many have had to close down. They weren’t aware of the corporate finance available to them.
Even those businesses that have had some capital reserved for hard times, the chances are that with the coronavirus they have had to use it up. The virus is a perfect example of hard times that most businesses didn’t budget sufficiently for, but for which they could use some funding to recover.