Fast Payroll Funding – You Should Know this Trick

Finding a lender to help you with payroll funding can be a challenge. The first question a lender will ask is, “why can’t your business’ cash flow pay for your payroll?”. It is not always that your business’ cash flow can’t pay for it. Often times businesses who are paid through contracts can have a challenging time with bills month to month, depending on when their clients pay their invoices. We see this a lot with our construction clients.

Not all financial institutions understand this. When they are reviewing a loan application they are looking at the potential risks with the business and how it fits into their portfolio.

You Can Be Turned Down By A Bank For A Number Of Different Reasons Including:

  • A short business history
    • Traditional business lenders look for at least a two-year business history and tax returns.
  • Amount of personal or business debt
    • If you have business partners, their debt will also be considered, not just the loan applicant’s.
    • This is applied to credit as well.
  • Poor credit
    • Personal or Business credit history is taken into account.
  • No collateral
    • Do you have personal assets to hold against the loan?
  • Lack of a business plan including:
    • Past financial documents
    • Three to five-year plan
    • Plan of how the funding will be used to enhance the business

One of the reason’s that businesses who are looking for payroll funding are often turned down is often the lack of a business plan. One of the details a bank is looking for is how the company plans to utilize the funding to grow their business. Payroll funding is a risk to the financial institution because it can show the business is in poor cash flow health.

What’s A Practical Solution?

Our Merchant Cash Advance is a form of business funding that focuses on helping you with things just like payroll funding. We want to help you with the daily operations of running your business while you wait for your clients to pay their invoices. Though similar to a loan, our product is different. Understanding that a Merchant Cash Advance is not a loan is important. We do not adhere to the same regulatory standards that the banks do. But just like a loan we have the same expectations that the funds are paid back.

The opportunity that a Merchant Cash Advance offers you is the ability to have cash quickly. We are able to get you cash in your hands just three days after you apply and are approved. We will advance you the funds so that you can meet payroll or any other operational expense. In exchange for the payroll funding, we will automatically take a percentage of your daily sales. This amount is a fixed percentage so unlike a traditional loan if you have a slow day or even month, you will not have to pay off a set amount each month. We will continue to take the same daily percentage until the advance and fees have been paid off.

When it comes to advancing payroll, there are some risks on behalf of the provider. Business owners should also be aware of the risks. As a business owner, it is always important to understand the contract you are signing when you accept any type of funding. You have to consider all of the pros and cons before making a decision.

Get Started Now

If you are ready to get the cash you need for payroll fundinggive us a call today. As long as you have been in business for six months and do $10,000 a month in sales, we will get you the cash you need fast so you can meet your payroll needs.

Call eBusiness Funding at 305-985-6604 or Complete the contact form on this page.


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Fast Payroll Funding – You Should Know this Trick
Most banks are not willing to offer you payroll funding through their traditional products; however, alternative providers are here to help. In this article we explain some crucial info you should know about your small business funding options.
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Andy L.

Andy L.

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