Most business owners first think of banks when their operation needs financial assistance. Did you know that there are numerous other ways to finance your business other than through a traditional bank?
Alternative Ways To Finance Your Business
Numerous alternative funding agents and capital development companies are available to help you with funds for your various business needs. They offer a wide variety of products, some of which may be perfect, hand-in-glove fits for your business circumstances. Here are a few of these alternatives:
- Merchant Cash Advances. This form of financing provides an immediate infusion of capital taken against your company’s future credit card sales.
- Installment Loans. This entails providing a lump sum of money to a borrower, which is then paid to the lender at regular intervals until the principal plus interest is retired.
- Lines of Credit. This is like having a sum of money in the reserve to be used as business needs dictate.
- Short-Term Loans. Not only offer by traditional banks, but capital agencies also can provide a business loan.
- Invoice Factoring. With this arrangement, a financing agent buys your outstanding invoices for a little less than their full face value, giving you an immediate up-front infusion of working capital.
- Bridge Loans. A short-term loan back by real estate or some other type of asset is designed to “bridge the time gap” between the buying of a new property and the selling of an old one.
These are but a few of your options. Many other forms of funding are available for non-traditional banking sources