Every small business owner knows you need cash to help your business grow.
Of course you need startup capital to launch your new venture- but once you begin getting customers, you’re going to need more access to capital to fund the cost of filling those new orders. It’s often rare in business to collect cash payments before the orders are filled.
This period is one of the toughest for entrepreneurs to get through. They have worked so hard to create a business model and convince customers to actually buy! And now the fight for financial survival still isn’t over!
Almost half of all small business failures occur during the first five years and the most common reason is insufficient operating funds.
The business needs to find even more capital and on terms that it can afford. There is no sense in working that hard and then having to give up too much equity. The entrepreneur deserves to reap the rewards if the business survives. Finding funds can be a real problem, especially for first-time entrepreneurs. Often, getting an initial small business loan will require pledging your personal property or assets as collateral. This is unfortunate but unavoidable.
Not only do banks want collateral for their loans, they are particularly limited in the types of assets they can accept. They will accept financial assets like stocks and bonds and will accept real estate like land and buildings. Beyond that, they usually require all other business assets be pledged as additional security.
Pawnbank is an alternative lender providing you access to funding by freeing up cash from your own assets; Jewellery, Gold, Luxury Watches, Cars and much more….. find out more 1800 311 422