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!

Small Business Lending – Your Funding Guide

Small business lending is considered a necessity in today’s market. It doesn’t matter if you are just starting out or have been in business for years. Small businesses have unique challenges that large corporations to do not have to deal with. This has created unique funding needs and lenders are here to help.

Small businesses have several options that they can choose from. But how do you know what small business lending method is right for you?

First, considered how quickly you need the funds.

• Do you need the money for a future purchase?
• Do you need the funding immediately, like this week?

Next, think about what you are going to use the money for.

• Do you need the cash to pay back other obligations? Like meeting payroll.
• Are you looking to have a cash cushion for your business to hedge your risk?
• Do you need to purchase stock or supplies for day to day operation?

Finally, think about what happens if you don’t get the money.

• Is your business going to go under?
• Will there be a missed business opportunity?

After you have answered the questions above it is time to start understanding the different small business lending options.

Traditional Business Loans

With a traditional business loan, you are going to need a few things in order to be considered. You will need a complete business plan highlighting how you plan to use the money. Financial statements from the past few years. Both your personal and business’ credit history. And often financial institutions will require personal background checks on all the business owners for the company that is applying for the loan.

The benefit of a small business loan is that it often offers companies the lowest interest rates.

Business Credit Cards

Credit cards can offer you a quick way to pay for purchases. This source of funding should only be used when you need lower amounts of capital as you will have to pay it back within the month or face high-interest rates. It is recommended that you always keep your balance below 30% of your credit limit.

The other benefit of having a business credit is the perks of earning credit card rewards. Depending on the credit card provider you can earn free travel miles, received discounted gas, or cashback. It is basically like getting paid back for having the product.

Friends and Family Funding

This can often be a risky pool to draw from if your business can not pay them back at the agreed upon time. Unlike a loan officer at a bank, you have to see these people around the holidays.

Alternative Lending

One form of alternative lending is called a Merchant Cash Advance. With our cash advance product, we focus on getting you the cash you need, fast! Our short-term funding is focused on getting you approved for cash between, $5,000 to $500,000, in just 24 hours.  This is compared to other longer term loans that are tied to much larger values of money. Long term loans also have regular payback schedules.

With a traditional bank loan, you are going to pay back your loan with a set monthly amount. Our Merchant Cash Advance product takes a fixed percentage of your sales each day. That means that the amount we take is based on how well your business is doing that day, not on a predetermined amount.

Our alternative small business lending option is not a traditional loan in the way you are probably thinking. This is a funding option that is best defined as an arrangement where cash is provided to the business in advance. The funding is tied to the business’ daily sales. We advance your business the money it would receive in the future, now.

Getting Started

So are you ready to get started with our alternative to small business lending? Give us a call today (305-985-6848) or find out how much you qualify for here.

Start the process and we can have the cash in your hands in as little as 3 days!