Negosentro.com | Where Entrepreneurs Can Find Hidden Funding | If you’re looking to inject some cash into your business, you may already know that the major banks are currently rejecting about 80% of all small business loan applications.
But, there is “hidden” funding out there for small business owners who know where to look for it. Where is it? How do you find it? And how do you access it?
Keep reading to learn about alternative funding options that not enough small business owners know about.
A Merchant Cash Advance
There is one option that was actually made for small business owners like you: the merchant cash advance (MCA).
An MCA could give you access to up to $500,000 in funding, with very flexible repayment terms. An MCA is not a form of lending, it’s a form of funding. This means its qualification criteria are more flexible, and so are the repayment terms.
You would repay your advance by remitting a small percentage of your transactions, as opposed to making a static monthly payment. This means that if your sales are down, you won’t have to make as big a payment.
Payvant Capital is one of the leading MCA providers and you’re invited to go to Payvantcapital.com/services/merchant-cash-advance/ to start your application right now.
Small Business Grants and Programs
The hidden market may be closer than you think. The more locally you focus, the more opportunities you can find. Do a deep search online for business funding opportunities in your city, town or area. There are always groups and organizations that seek to boost local business.
You also might qualify for other specialized small business grant programs such as:
- Small business grants for women
- Small business grants for people with disabilities
One of these programs could be the funding opportunity your business needs to grow and scale. The application process can be lengthy, but there is nothing to lose by applying.
The main selling point is that a grant is not a loan and you don’t have to repay it. These organizations aren’t worried about getting paid back—They’re focused on rewarding potential.
This method is really growing in popularity because it’s fun and can be very lucrative.
If you can create a video, presentation, and product that captures the hearts or attention of enough people, you can raise some serious funding; seemingly overnight.
However, the truth is that the process is far from overnight and successful crowdfunding projects take weeks or months to prepare and carry out.
The odds of success are also not overwhelmingly in your favor. Everyone talks about big success stories, but nobody likes to talk about the fact that over 60% of Kickstarter campaigns will fail. You could invest a lot of your scarce time and money into this and have nothing to show for it.
In the world of small business, there is certainly no such thing as free money. However, hidden money certainly exists.
Explore all of your options in alternative funding such as merchant cash advances, small business grants, and crowdfunding. Odds are good that at least one of them will reveal a hidden opportunity that you will someday be very happy you found.