The first and utmost important variable of any business is finance. Capital for business is among the four factors of production and operations in any venture. This statement is enough to highlight the importance of funding in any venture, be it small, medium, or large. No business can survive without sufficient financial backing.
Even in the cases of on-going business, there is always a need to keep contingency funds. These contingency funds are for an emergency. Ignoring the need for contingency funds can even collapse a business. However, even with due planning, an organization can run short of the funds required. In such a situation, experts like Business Backer come into play.
What Business Backer is:
Business Backer is a business financing service, based in Cincinnati, Ohio. It provides innovative solutions to your financial troubles. It focuses on providing funding sources to small businesses. The funding sources offered here are transparent and honest.
Key activities of the company:
This service provides three major funding solutions for small scale businesses. They offer a Cash Advance solution, which helps in managing cash flow and revenues as per peak periods of the year. The limit in this scheme is up to $200,000. It has daily, weekly, or semi-monthly payment options.
The other scheme is of Small Business Loan. Herein, a fixed sum is borrowed and has a pre-decided payment schedule. The limit here also is $200,000. The term for this loan ranges from 4-18 months. For Small Business Loans, the payment options are daily, weekly, or semi-monthly.
They also provide a Business Line of Credit package. This is an on-going line of credit, wherein the sum can be accessed based on the need of the moment. The limit of credit herein is $100,000. It has got weekly or monthly payment options with terms of 12, 18, or 24 months.
Mode of Operation:
The method adopted by the organization is very different from that of the banks. They tend to develop one on one relationship with their clients. First, they ask you to fill a form. This step helps them to ascertain your needs. Then the funding advisor will make you aware of all the options available with you. They will also advise you about the benefits and difficulties associated with each of their plans. You should keep in mind that all these would not affect your credit scores.
Some of the key benefits of this company are that they provide manageable payments, revenue loss protection, and no early payoff penalty. However, these benefits vary based upon your plan of choice. They also provide you with reliable funding advisor who keeps personal watch at your transactions to keep you in the business.
Application Procedure:
Whenever you apply for any financial service in a bank, the most frustrating part is the procedure involved. It may also take days to get your finances cleared. Banks often have some underlying conditions which are not easy for a common man to understand. Business Backer doesn’t follow all these hefty procedures. They have a user-friendly and straightforward application process.
To apply here, all you need to do is follow three simple steps. The first step is to fill out the application form, which checks your eligibility. The second step involves providing some bank records and finalizing your offer based on that. In the third step, you receive the money.
A financing agency can fulfill various business needs in the right way. But the sad truth is that not many financing agencies do that job properly. This is why you can rely on Business Backer. They have got the required technique, resources, and experience to help your small-scale business with all kinds of financial needs. They are your ideal solution to meet the needs of any small or medium scale business.
