4 Ways to Use Expansion Funding to Grow Your Salon

Whether you are looking to buy a new location or expand your current salon, expansion funding can be key. Most businesses do not have enough cash on hand to expand without help. That is why eBusiness Funding exists. We are looking to help those salon owners with dreams of expanding but just aren’t sure where to start.

How Can You Use Expansion Funding?

Buy a New Location

Buying a new location is a big step for many companies. They want to see their business succeed and expanding but coming up with the cash is hard. But when you want to be in a more convenient location, open up a second store, or simply purchase a larger space, expansion funding can help. Thankfully, eBusiness Funding has simple requirements that make your life as a business owner much less stressful. We want to see you thrive.

Build on an Addition

Considering undergoing construction at your salon location? Contractors can be hard to deal with especially if you don’t have the established funding from the beginning. They like to deal with cash and we help make that happen. When adding on an addition, we know you can’t be out of business for long which is where having cash on hand can be key. And getting the funding right when you need it can be key.

Add on New Services

If you have been dreaming of bringing in new services to your salon or spa, expansion funding can help! For example, if you have been thinking of offering massage therapy or pedicures, this is the funding method for you. As an alternative funding provider, it is designed with you in mind. When you apply, there is no need to submit a business plan because we know that how you plan to use the funding is for the good of your business overall.

Online Product Marketing

If you are considering opening up an online store to sell your salon products, now is the time to do it. Expansion funding can be used to help you employ a webmaster or increase your product inventory. By applying with us today, you can have the funding you need fast! In fact, it can be in your bank account in as little as three days.

So if you are ready to take the next step when it comes to driving your business forward, we have the expansion funding you need. Don’t wait for the opportunity to pass you by. Apply with us today and start growing your dream.

5 Reasons to Use eBusiness for Small Business Lending as an Accountant

Running an accounting business is not easy. As you wait for clients to pay you for your services you still need to have working capital to keep the lights on. That is where eBusiness Funding becomes a great option for small business lending.

It is no secret that from January to April accountants are going to be slammed with work. This often means stressful and late nights while you work hard. But it can also mean traditional funding will take too long and too much of your precious time to go through the approval process. But you have other options. So why should you choose eBusiness Funding for your small business lending needs?

Less Stress

Worrying about not being able to pay your employees back is stressful. This can wreak havoc on your life and your business. You may find yourself cutting corners on many things. A merchant cash advance can help get you the funding you need because we know when you need to spend money, you should.

Easy Requirements

It isn’t easy to be approved for traditional small business lending. The requirements are complex and take a lot of time. This is often time that many accountants do not have especially during busy season. That is why with just a few simple clicks and two requirements many accountants choose to work with us.

No Business Plan Required

If you have to submit a long detailed business plan of how you plan to use the funding, you will often be deterred. As an accountant, you may just need funding to tide you over through the holidays until your busy season really picks up. Traditional institutions are not always eager to lend to a business with this problem. But we want to help.

Fast Funding

When you need funding, you need it quickly. Whether the IRS just added a new form to the tax process or all accountants are now required to operate under new conditions that require more money to keep the lights on, we have you covered. It takes just three days to get the funding deposited into your bank account from the time you have accepted our offer.

High Credit Card Transaction Volumes

A merchant cash advance is a great small business lending option for those that do a majority of their sales through credit card transactions. This is because our payback process is designed to take a fixed daily percentage of your credit card sales. This will happen until the amount has been paid back.

If you are an accountant and in need of small business lending, we are here for you. An alternative funding provider can make all the difference when you need the funding fast! See for yourself by applying today!

The Holidays Are Coming – 3 Reasons Why You Will Need Short Term Funding

The holidays mean long and busy hours. Retailers nationwide are training staff, ordering extra inventory, and preparing for massive amounts of returns. Many businesses need to find short term funding to accommodate the intense ramp up and to take advantage of peak season sales. That’s where we come in. eBusiness Funding is committed to empowering small businesses for growth.

3 ways Short Term Funding could rescue your Small Business this Holiday Season

Let Us Help You Meet Payroll

Seasonal workers are precious gems among retailers before the holidays. Seasonal hires are usually brought on as extra assist for full-time employees. These shift schedules typically consist of late nights and busy holiday weekend hours.

Because sales often take a lot of time to turn into profits, this rapid increase in staff can be hard on companies. Thankfully, this hardship is only temporary and can be combated with short term funding. 

Short term funding is a reserve for most retailers that work busy holiday seasons. The peace of mind that accompanies settling debts as you receive payment for your holiday sales is undeniable.

Inventory is important, we want to help you purchase it

Many retailers rely on previous holiday sales to plan the following year’s inventory purchase. This is important but can be very expensive. Short term funding can help with the additional cost of the seasonal inventory. Trust us, you don’t want to be the business that runs out of stock before the major sales season has even begun. Together, let’s make sure that this doesn’t happen.

If you can meet our two requirements, we have you covered for the funding. As long as you are generating $10,000 a month in revenue and have been in business for at least six months, you have a 90% chance of qualifying. We want to make funding simple. The holidays are stressful enough, especially in the retail world.

Increase Your Marketing – Everyone Should Know that You’re Open for Business!

Getting people through the doors is harder now than it has ever been. That’s why ramping up your marketing plan is essential. The additional cost of marketing, on top of inventory and staffing can be too much for a business to take on. Thankfully, short term funding can come in quite handy. Unlike a traditional loan, eBusiness is not going to ask for a plan of how you will use the funding. We trust that you know most about what your business needs to succeed. And empowering you for success is what we care about the most.

Short term funding is not easy to come by especially when you say that it’s for holiday sales. But as small business owners, we understand what holiday sales can mean for you. Don’t wait until it is too late – apply now!

Saving With Business Debt Consolidation

Business Debt Consolidation – Does it Make Sense?

Have you been collecting debt for several years and now you don’t know how to get out from under it? Are you considering business debt consolidation? Having multiple business loans or alternative lending products with high-interest rates can really put a damper on your free cash flow.

Business debt consolidation is an option that allows you to combine several of your loan products into one large loan. Having multiple lending products without the ability to comfortably pay them back can be harmful to your personal credit score; as well as, the business’ credit score. Allowing your debt to grow can hurt your ability to get another loan product down the line when you are looking to enhance your business.

Loan stacking has become an issue in today’s small business world because the approval rates for traditional loan products with low-interest rates are so low. Businesses are being forced to take higher interest loans with a smaller balance, leading to additional loan products being created.

A large factor to being able to qualify for a bank loan in the future is the amount of debt your business carries. Banks will look into how you have handled debt in the past and if you have kept it in balance with your business’ profitability. Business debt consolidation can be a great option for a business to help refinance their loan products into a single monthly bill to pay. It will allow you to combine your loans into a new lower-interest loan. Having a single source to pay off will help a business focus on the task at hand, bringing down the total debt.

However, as a funding choice, it carries negatives with the positives. Knowing both is key to making an informed decision

Business Debt Consolidation—Pros

• Lower monthly payments
• Lower interest rates
• Single monthly payment

Business Debt Consolidation—Cons

• Spend more over time
  • Because you are paying back one large bill vs. several smaller ones in a shorter period of time, the interest can sneak up on you.
• Debt can still grow
  • Because you will have a lower monthly payment, you will have cash coming in you are not used to having. You have to be careful to be smart with you money. You can put it towards your principle payment on the loan or save it for the business’ needs.
• This is a band-aid for a bigger problem
  • Remember that just because you can consolidate your debt into a lower monthly payment doesn’t mean that it will solve your problems. You must ask yourself, how did you acquire so much debt in the first place? That is the problem you must address while you pay down your debt.

But just like anything it is important to consider all of your options. Traditional business debt consolidation is not for everyone. Some businesses do not have enough debt for it to make sense. Others have too much debt that they can’t be approved. Depending on your level of debt there are different options out on the market for you.

Alternatives to Business Debt Consolidation

eBusiness Funding helps businesses that may struggle with traditional lenders. To do this, we provide merchant cash advances. These are accessible to a wider spread of businesses than bank loans or private lenders. 95% of businesses that meet our simple requirements qualify for funding. All you need is to be in business for at least six months, with over $10,000 in monthly revenue. With us, it’s not about past credit history or collateral, but about your business’s potential.

It’s important to us that you use the funds we offer in the most helpful way possible. As a result, so we place no limit on how you spend our advances. Payroll, expansion, repairs, spend on what you need! We also get you your funds fast, sometimes as soon as 72 hours after you first apply. Repayment is also very simple. Rather than large monthly payments, we take a set part of your future sales. This is set up by our skilled consultants. This percentage stays the same, so if business slows down, you pay less.

Interested? All it takes to begin is filling out a simple contact form. We’ll be waiting, and are looking forward to helping your business get the funding support it needs.

Where To Look For Small Business Funding

Small businesses are the backbone of the U.S. economy, but it can often be difficult to get funding. Small businesses are less likely to find funding from lenders, so you need to be creative. This article is going to go over some of the many ways that you can pursue small business funding.

Traditional Lending Options

First of all, most small business funding most often comes from common sources.  These are more viable if your business has been built up, so be mindful of the state of your business if you pursue this path.

Bank Loan. Receiving a bank loan is becoming more difficult. Strong collateral and good credit can help secure a traditional bank loan.

SBA Loans. Small Business Association loans are growing in popularity in today’s market. If you meet the criteria this can be a great option.

Nonprofit Microloans. Nonprofit microloans, such as Kiva, get used  for small businesses in developing countries.

Self/Private Funding

These sources of funding can be very useful, but generally are only available in certain circumstances. In general, these are viable but not sustainable.

Family and Friends. Sometimes, support begins at home. If your family believes in your business, they can be financial backers. Many looking for small business funding use this as a start.

Business Lines of Credit. If you have good personal credit (around a score of 700) this could be an option for you. Granted, many business owners looking for funding may have some credit trouble.

Prize Money or Contests. If you’ve got a great business idea and time to enter, this could be for you. Contest exist where the prize money goes towards funding your business.  In addition, this can also serve as advertising and promotion for your new business.

Personal Savings or Assets.  Selling off your assets or using your savings can provide quick cash. Just make sure you don’t risk too much to get your business up and running.

Government Funding Options

Government Small Business Grants. Grants are industry-specific generally. These also have guidelines on how you use your funds, as well as outcomes that you need to achieve as a result of the lending.

National Association for the Self-Employed. NASE offers grants and scholarships for self-employed business owners. However, like a grant, you are responsible for meeting certain goals grant.

Local Government. Each state and local government has a branch which assists with grants and loans.

National Institute of Health Funding. Funding is available through NIHF. However, to qualify, your business will need to conduct certain types of research and meet certain criteria.

Alternative Funding

These off-beat sources are becoming more popular as funding is harder to find. Here are some of the many options.

Crowd Funding. A growing lending method in the financial market is crowdfunding. Crowdfunding websites allow you to create a personal web page. These pages explain the goal funding will help achieve.

Venture Capital. There are strict criteria involved with venture capital.These may block off many businesses from this form of lending. At the same time, it’s still a possibility.

Industry-Specific Funding. Certain industries have sources of funding for businesses in their category. This is a great way of tapping into your local resources, as well as getting your community involved.

Local Agreement. Small businesses and nonprofits may be willing to work with you. These can help increase patronage of your business, in turn generating extra cash flow. This is especially applicable to businesses selling goods.

Franchising. Franchising your brand is a great way to raise funds for your business. Businesses that are is thriving but need extra management and capital to expand are good candidates. At the same time, this isn’t for everyone.

Community Agreements.  Try reaching out to small businesses or nonprofits in the community. These increase your presence in the community and the market, while increasing foot traffic. As a result, you could develop new customers. You might need to do some volunteering as a part of the agreement.

Merchant Cash Advances For Small Business Funding

Another one of the more popular options out there are merchant cash advances, such as those provided by eBusiness Funding. Our aim is to support businesses that may struggle with traditional lenders. To do this, we provide merchant cash advances that are accessible to a wider spread of businesses than bank loans or private lenders. 95% of businesses that meet our simple requirements qualify for funding. All you need is to be in business for at least six months, with over $10,000 in monthly revenue. With us, it’s not about past credit history or collateral, but about your business’s potential.

It’s important to us that you use the funds we offer in the most helpful way possible, so we put no limits on your spending. Payroll, expansion, repairs, spend on what you need! We also get you your funds fast, sometimes as soon as 72 hours after you first apply. Repayment is also simple. Rather than large monthly payments, we take an established percentage of your future sales. This percentage stays the same, so if business slows down, you pay less.

Sounds good? If you’re ready to begin, all you need to do to start is fill out this simple contact form. We’ll be waiting, and are looking forward to helping your business get the funding support it needs.

What Do You Need For A Small Business Loan?

Are you thinking of expanding your premises or hiring and training new staff? Not sure of the small business loan requirements, though? Do you need new equipment? Or are you just a little short on cash flow at the moment? These are all the reasons you might be in need of a small business loan.

Applying for a small business loan can be a tedious and time-consuming task. It can also be quite obtrusive to provide all your personal and business financial records, and scary to use your personal assets as collateral. It’s important to break down some of the aspects you need for business loans in order to increase your chances.

The Necessities For Small Business Loans

Good Credit History

Don’t wait until you need a small business loan to build good credit. This applies for both personal and business loans. Good credit can take years to build, especially if you’re aiming for a high FICO score. Always maintain a good working relationship with your lenders and potential lenders by making payments on time and keeping accurate up to date financial records.

If you do have past issues in your credit history be prepared to discuss this with your lender and take steps to satisfy any outstanding debt to rebuild your credit history.

Strong Business Plans

A solid business plan is not only a great asset for yourself and your business but assists when applying for credit, especially from traditional lenders who love to be bogged down in paperwork. Even if you don’t need one when applying for credit it’s always a good idea to have a formal business plan in place for your business to thrive and succeed.

Your Personal Resume

Much like a solid business plan, a good personal resume is a must. It’s important to update your resume from time to time. Things to note include your recent roles and emerging formatting and layout that both employers and lenders like to see. Depending on your lender, you may have to provide your personal resume when applying for a business loan, so make sure you have one on hand at all times.

Profit and Loss Statements

A good business owner will already be using profit and loss(P&L) statements. These are generally part of your monthly, quarterly and annual financial processes. If you’re not, it’s time to start. Much like a business plan and personal resume you may need to supply a P&L Statement when applying for business credit. Even if you don’t, P&L statements help business owners keep track of their business assets and liabilities. Without this, how do you know if you can service the repayments on the loan you’re about to apply for?

Alternatives To Small Business Loans

It’s a reality to many small businesses that they won’t be able to hit every mark on this list. Some of these require time, keeping startups out of the fold. Other times, a lack of collateral or past credit issues will hurt your chances. Several alternate funding options are here to service those in the business community who can’t meet these hard criteria. One of the most popular options in this area is merchant cash advances.

eBusiness Funding helps businesses that may struggle with traditional lenders. To do this, we provide merchant cash advances that are accessible to a wider spread of businesses than bank loans or private lenders. 95% of businesses that meet our simple requirements qualify for funding. All you need is to be in business for at least six months, with over $10,000 in monthly revenue. With us, it’s not about past credit history or collateral, but about your business’s potential.

It’s important to us that you use the funds we offer in the most helpful way possible, so we place no restrictions on how you spend our advances. Payroll, expansion, repairs, spend on what you need! We also get you your funds fast, sometimes as soon as 72 hours after you first apply. Repayment is also very simple. Rather than large monthly payments, we take an established percentage of your future sales. This is set up by our skilled consultants. This percentage stays the same, so if business slows down, you pay less.

Interested? If you’re ready to begin, just fill out this simple contact form. We’ll be waiting, and are looking forward to helping your business get the funding support it needs.

Sources Of Funding For Small Businesses

The question of funding for small businesses can be a struggle for any small business owner. As rewarding as this can be, running your own business carries constant challenges, from maintaining staff to financial struggles to making sure you are providing the services your clientele want. It’s easy to get swamped in some of the day-to-day functions of business, but you also have a responsibility to keep your business financially healthy. To do so, outside funding is often essential. The question is though, where do you begin?

What Options Do I Have For Funding My Business

The good news is that there are lots of different lenders out there that provide funding for small businesses. However, this can be a bit overwhelming at first. To help break this down, let’s look at two main categories:

 Traditional Funding Sources

• Government resources
• Banks
• Private lenders

Many will recommend small business loans for banks, and there are good reasons why. Small businesses are likely to get low interest rates, which is crucial. However, the fact of the matter is that increased regulation is causing banks to hold back on their small business loan offerings. Private lenders and government resources can be valuable as well, but don’t be surprised if there are specific requirements that you will have in order to get funding. Generally, if your business is just starting out, it can be hard for you to find funding.

 Non-Traditional Funding

• Micro-lending
• Peer-to-peer lending
• Crowd funding
• Merchant Cash Advances

If you have trouble getting funding, these may be better sources. In general, there is less of a barrier to entry, but there may also be other issues, such as higher interest rates or lower amounts of money being available. In some cases, like crowd funding, there is no guarantee at all how much funding you will get. Before looking at options for your funding for small businesses, it’s important that you evaluate your business.

Questions to Ask Before Choosing a Lending Method

• Why do you need the money? Are you looking to fund payroll? New equipment? Maybe a new business?

• Banks are going to want to see the whole picture. You should be prepared with all your business information.

• Who is taking on this loan? Depending on the type of business you may be personally responsible for the debt.  This means a bank can hold your personal assets as collateral if the company doesn’t pay.

• What does the management team look like for the company?

• Traditional companies want to know who they are lending too. It makes a difference and banks will check the credit history of those people listed.  A background check may also be completed.

• How fast do you need the money? Non-traditional lenders have shorter turn around time frames. There is also currently less regulation in the space. However, with less regulation comes increased risk to the lenders. This risk is mitigated in the form of higher interest rates.

• In most cases when you apply for a bank loan you are required to submit a business plan.  As well as your financials from the last several years.  If you are looking for reoccurring funding a traditional loan may not be appropriate. You may want to consider another alternative.  You can also talk to your bank about a line-of-credit.

Using Merchant Cash Advances

 eBusiness Funding provides alternatives to traditional small business loans. By working with us, you can get funding for small businesses quick, with minimal roadblocks If you meet our minimum requirements, you can be approved and funded in a matter of days. The benefits of choosing eBusiness Funding include:

• No upfront costs.
• No application fees.
• Up to a $500,000 cash advance, based on your current financial strength.
• Cash in hand as soon as 72 hours.
• 90% of applicants  who meet our requirements get approved.

Get started with eBusiness Funding for the funding your small business needs with more accessibility and speed than many of the options out there. Fill out the simple contact form on this page now and get the financial support your business needs.

I Want To Find Funding For Small Businesses, Where Do I Start?

The funding game in business is not an easy one to play. The game is competitive especially if you are looking for funding for small businesses. There are millions of small businesses in the world today and they all need funding for one reason or another. Mom and pop shops, startups, agencies, the list can go on of what makes a small business. And they are fighting for the limited number of small business loans banks are willing to give out.

Banks make it super competitive to receive funding for small businesses. This is because of their extremely high standards to receive a business loan. But it is also due to the highly regulated world we live in. Only 25% of those who apply for funding from a traditional financial institution receive the loan. That means that 75% of those who apply are denied and are left without the funding they need to operate or grow their business. But if you have been denied for a small business loan from a bank, there are other options out there for you.

What are other alternative funding for small business options?

Friends and Family

Your friends and family can be a great tool to leverage when it comes to your funding needs. Who is going to believe in your business more than the people who raised you? Or the people you have grown up with? The best part is that they are not going to ask for collateral, typically, in exchange for the loan.

Business Credit Cards

This is an option for a company that is looking for access to cash quickly but knows that they can pay it off each month.

If you have a business credit card you must keep in mind:

• The risks of losing the card or having it hacked online.
• If an employee misuses the card, what you will do about the additional charges.
• How carrying a balance can will affect your credit score if you can’t pay off the card each month.
• Will the line of credit be sufficient to pay for what your business needs?

Crowdfunding

Peer-to-peer lending has grown in popularity over the last few years. This is an opportunity for businesses to find people they don’t know who believe in their business model. But it is also important to know the difference in the types of crowdfunding.

As an owner, you want to make sure that you know what you are giving up. Are you offering equity or rewards? Or are you just looking for donations for your business? Are these things you are willing to give up? How much are they going to cost you in the end? Make sure you have considered the pros and cons and know what you are signing up for with this funding method.

Merchant Cash Advance

A merchant cash advance is a good option when considering funding for small businesses, especially if you are a company that generates a lot of their sales through credit card transactions. It is also a good option for contractor-type workers with a lot of clients. These can include construction workers, restaurants, or retail.

This type of funding is done through a cash advance, to get small businesses the money they need fast. At eBusiness, our merchant cash advance takes just three days from the time to you apply and are approved to get you the funding you applied for.

We have made our application process simple. Bank applications are confusing and long to fill out. The number of requirements you have to meet for a traditional lender makes it challenging for even the best business to be approved. That is why we only have two basic requirements.

If you have been in business for at least six months you are half way to qualifying. The other half is that you generate at least $10,000 a month in revenue. If you meet both of these requirements than all you need to do is apply!

Ready To Get Started?

Contact eBusiness Funding now at 305-985-6593 or complete the contact form on this page now.