Small Business Funding help provide much needed cash flow to keep companies up and running. Funding provided to small businesses for various purposes by SharpShooter Funding©. These funding may have less restrictive requirements, enabling the small business to secure the funds. A small Business Funding may provide other incentives for the borrower, which could minimize expenses for the business. The rate of small business owners looking for a funding might be on the decline, but they still borrow a lot: $600 billion each year.
Small Business Funding exist to help businesses succeed, but many times business owners get them for the wrong reasons, and problems they thought would be solved spiral out of control. … If your company is profitable and you have decent cash flow, but you need funds to expand, then a funding is a good idea.
There are a few variables to consider when determining the right small Business Funding for your company. Think about whether a long-term or short-term funding option is best for your needs. If you just need funding to fulfill a large order or take advantage of a one-time opportunity, funding with shorter terms are probably best. If you need to purchase a piece of machinery that will last 20+ years, a long term funding is more cost effective.
To Improve Terms on a Larger Funding.
Probably the most obvious reason to consider Small Business Funding is to invest in an expansion opportunity for your business.
Learn more about what your business qualifies for with SharpShooter Funding©.
Here is a breakdown of the types of Business Funding:
We Can Design A Funding Program For Your Small Or Medium Size Business.
One of the most important things to determine before applying for Small Business Funding is how much you can afford to pay back on a monthly basis. Don’t be too ambitious when making this calculation in order to avoid defaulting and causing damage to your credit history.
You should determine exactly how much your business needs to borrow to achieve its goals. This should be a precise figure, not a range. Funding companies want to see that you’ve done your research and that you will spend their money in a way that will help your business thrive. They want you to succeed so they’re sure to get paid back.
To be considered creditworthy, borrowers must provide SharpShooter Funding© with adequate financial information to prove their ability to payback the funding.
Borrowers should expect to have good credit to qualify for Business Funding. Funding partners build an assessment of the applicant’s character by evaluating how they handled debt in the past.
FICO Scores are comprised of payment history (35 percent), types of credit (10 percent), debt (30 percent), new credit (10 percent), and length of credit history (15 percent). The history reveals the borrower’s ability to pay on time on their installment funding, credit cards, finance company accounts, and mortgages. Potential show stoppers include bankruptcies, excessive credit inquiries, liens, foreclosures, lawsuits, and judgements.
Here are five steps to help you qualify for a small-Business Funding.
The ability to pay back the funding based on collateral, financial reserves, and assets.
The borrower’s successful past performance in business (for a new business)
The borrower’s existing cash flow (for an existing business)