What’s the Best Financing Solution for Your Business?

Jun 19, 2018

Interested in how you can determine the best financing program for your business? What are the main factors to concentrate on when applying for business funding, including consumer financing solutions? Just keep on reading this article and you’ll know.

Business Funding: Consumer Financing Solutions

Both large and small business may need funding for this or that reason. If you’re a growing business, you’re likely to need new equipment or more space. What about new employees or additional branches or locations for your business?

Maybe you need more inventory, don’t you? The lack of working capital for paying rent or covering payroll can be another issue you might face.

Well, how are you going to meet your financial needs if you don’t have the necessary working capital? This calls for a pretty simple answer. You just need to get the right financing for your business.

No matter you’re having a tough time like slow sales, seasonality problems, or issues with equipment replacement, the right type of business funding can help you tackle all your financial problems with ease.

To find the right financing option for your business, you should start with several important steps, including understanding what’s available to you. To get a better idea of how you can find the best business financing solution for your business needs, just read below.

What’s the Best Financing Program for Your Business?

The funding strategy businesses select is unique to each of them. It should be precise for the give business. Before applying for financing, you, as a business owner, should know what options are available and what’s the path leading to the given financing solution. For this, it’s important to weigh all your options so to make the right decision. So, what to focus on?

1.      How Much Financing You Need

For this, you should constantly keep a tab on your business performance. You can do this yourself or turn to an accountant. Do a forecast every quarter, making an estimate of your business revenue and profit based on three, six months, and even one year into the future. As a result, you’ll be able to know when you’ll need funding and how much you’ll need, taking into account the specifics of your business and these financial calculations.

2.      The Size of Your Operation

If you have larger operations featuring a customer service desk or even have an on-site finance manager, overcoming the hardships associated with financing programs will be easier for you.

3.      The Gross Profit Margin of Your Business

Are you operating with low gross profit margins? If yes, you’re likely to struggle with the cost of in-house financing. Your type of business would better go for no-cost financing options since they’re the most viable programs for you.

4.      Product or Service You Offer

The majority of traditional banks and financial institution provide financing taking into account the industry you’re in and the type of product/service you offer. As you may know, high risk businesses can’t, as a rule, get approval from the mentioned lenders.

On the other hand, if you’re a home furnishings retailer offering refinished/refurbished furniture, some lenders will stay away from you. Happily, reputable alternative online lenders and payment processors are willing to work hard-to-approve merchants. You just need to take the time to find the right business funding provider or processor for your own company.

Consider applying to eMerchantBroker.com, the #1 high risk payment processor and a reputable alternative online lender in the US. EMB talks to every business owner so to provide funding solutions and payment processing services tailored to their own business wants and needs. With eMerchantBroker.com, you can enjoy the lowest rates and exceptional merchant services, including consumer financing solutions for your business.

5.      Whether or Not Your Competitor(s) Offer Financing

Find out if your competitor(s) offer consumers a way to pay over time. If this is the case, it’s not an advantage for you. Of course, this doesn’t mean you should offer an identical program. However, an expert lender can help you get the best way out and fight the competition without challenges.

As you see, before applying to business financing, you should consider several important factors so to easily determine the best option. Make sure you really need funding. Also, decide on the right type of funding. For more help, just turn to a true professional in the field.

Let us help you get a high risk merchant account today!

Get Started

Award winning.

  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

Live Chat