Top Financial Stresses that Small Business Owners Face

It’s easy to assume that all small business owners have a huge budget at their disposal – but the fact of the matter is that they face many of the same financial issues as the rest of us, only on a smaller scale. As such, this article will cover some of the most common financial stresses that small business owners face today, including how to deal with them and where to find help if you’re in over your head. Check out this article to learn more about some of the most common financial stresses that small business owners face today.

The Cash Crunch

Money is always on a small business owner’s mind. Whether it’s figuring out how to hire new employees or stay competitive in their market, a lot of thoughts and energy are devoted to managing cash flow. Unfortunately, as time goes on, one thing many business owners discover is that saving money can be as challenging as making it. However, with United Funding Group’s merchant cash advance program, you can solve your short-term financial needs and protect your long-term business goals by receiving funds in just one day. Learn more about how you can receive up to $500,000 via our merchant cash advance today!

Bad Credit

Having a bad credit score can make it difficult to secure a business loan, which is why many small businesses fail before they even get off of the ground. This can be especially true for first-time entrepreneurs. Luckily, cash advances are often available to help you with those start-up costs and fund your working capital. There’s no need to wait for banks or traditional lenders—you can work with United Funding Group today and get access to money in as little as 24 hours, so your business has all of its funding needs taken care of sooner rather than later.

Excessive Taxes

Taxes can often be a large financial burden for a small business owner. Tax preparation is one of those tasks you put off and dread until tax season, but it’s something you should never neglect. Not only will tax debt hurt your company’s credit rating, but also you can end up paying serious penalties and late fees in order to get caught up on your taxes. Working with United Funding Group can help lessen your stress by offering competitive merchant cash advances that are repaid over a period of time instead of taking out traditional bank loans or lines of credit.

Expensive Expansion

Every small business owner dreams of growing their company into a large corporation. But with those dreams comes a hefty dose of reality: Expensive expansion is a major financial concern for most entrepreneurs. This type of growth usually requires you to find more capital or tap into existing revenue streams in order to cover overhead costs. The easiest way to fund your expansion is through obtaining a merchant cash advance. Also known as short-term business loans, these financing products allow business owners to avoid high upfront costs and interest payments that are associated with traditional lines of credit and bank loans; plus, they can help you launch new ventures or take on additional workers quickly and easily.

Expensive Equipment

From small to large, every business needs equipment. This can include everything from computers and office supplies to cars and trucks. But when you own a small business, you often don’t have a big budget for equipment. Unfortunately, there’s no easy way around it. If you want your business to succeed in today’s economy, it has to stay competitive – which means having access to equipment like smartphones, laptops, and vehicles. There is a quick solution if your cash flow isn’t quite where it should be: a merchant cash advance. Contact United Funding Group today and see how we can help your business succeed.

Not Getting Paid on Time

Late payments from customers can be financially crippling for any business, especially those just starting out. Because invoices take time to prepare and send out, any delay in payment could mean having to come up with more cash than you thought necessary at first. Unfortunately, if you’re getting paid late regularly, it might mean less and less cash on hand until your credit score hits rock bottom and you can’t get a loan for what will amount to a business bailout. To avoid financial stress as a small business owner, make sure you understand your customer’s payment terms upfront—and stick to them religiously.

Losing Money on Inventory

One of your biggest expenses as a small business owner is inventory. And one of your biggest frustrations is probably when you purchase too much inventory and it goes unused or unsold. Even worse, many businesses find themselves in a position where they need to do costly custom jobs to sell off their surplus. Inventory mistakes can add up quickly and cause all sorts of stress on both your mind and bottom line. United Funding Group provides merchant cash advances that can eliminate these worries, allowing you to focus on what matters most: serving customers while growing your business.

Contact United Funding Group Today

United Funding Group is a direct funding source with a simple application process. Simply fill out our online application, and a United Funding Group representative will call you to answer any questions you may have regarding your merchant cash advance. We are committed to funding all business types and credit score ranges. If approved, we can wire your funds within 24 hours so that you have quick access to working capital—with no collateral required! Apply today and see how fast money can start working for you! See our full product offering here.

8 Benefits of Renovating your Office Space

How long has it been since you upgraded your office space? If you’re like most small businesses, the answer to that question is probably far too long—which means it’s probably time to get started on those upgrades! The benefits of upgrading your office space now go far beyond making your business look better; there are also plenty of business-specific benefits to consider. If you’re having trouble coming up with the funding to make this happen, though, don’t worry; that’s where a Merchant Cash Advance from United Funding Group can help!

1) Improved customer experience

When you renovate, customers can feel a difference. They’ll notice new furniture, fixtures, and technology. All these items provide benefits that help improve the customer experience. Customers notice when businesses make an effort to change things up and upgrade their office space. New furniture and decor will also lift employee morale which benefits both employees and customers. A place that looks modern and inviting will often attract more foot traffic than an older building with outdated fixtures. Improvements in small business offices show that you care about creating a positive experience for all visitors to your establishment, whether they are there for personal or professional reasons.

2) Increased productivity

Many small businesses don’t realize how much their workspace affects productivity and employee satisfaction. A cramped, uninviting space can make employees want to spend less time in it and more time at home. And that means lost work hours and lost opportunities to network with other local businesses. If you’re renovating because you are growing, consider investing in an open-concept design, which can boost employee morale by creating a sense of space and community—which is great for business networking. Open offices also allow natural light into workspaces, which improves moods and productivity, so even if there isn’t extra square footage available for each employee, consider using tall cubicles or partitions that offer less privacy but allow light through.

3) Employee performance

If your employees are comfortable and well-taken care of, they’ll be more productive. This holds true for everything from lighting to seating. Both are important when it comes to employee performance. A good lighting system can help improve concentration and make everyone feel more at ease with their surroundings. On a basic level, think about how much easier it is to work on something if you can actually see what you’re doing. It also helps if there isn’t glare that causes eyestrain or headaches after working hours in a fluorescent-lit office space all day.

4) Beautiful surroundings

Every employee wants to come to work in a healthy, inviting environment. Studies show that employees who feel positive about their workplace are more motivated and productive. Plus, they’re more likely to stick around and help build your business into something great. So why not set up an appealing office space? A simple way to do that is by renovating old offices and upgrading them with new furniture or amenities.

5) Keeping ahead of competition

Small businesses can also benefit from re-doing their offices. The workplace is one area that many small business owners tend to overlook when it comes to marketing strategy. In fact, most small businesses don’t even have a website and some don’t even have a social media presence, so how will anyone know about them if they are serious about attracting new customers? For any business – big or small – a modern office space can communicate professionalism and stability, both valuable assets in customer relations. A renovated office can set you apart from competitors as it gives potential clients a sense of what kind of business you run and who runs it. When people visit an outdated or run-down space, they may view that as an indication that things are not going well for the company.

6) Taking pride in what you do

A lot of small business owners take pride in their products or services and it shows. If you’re tired of paying high prices to rent office space, renovate your office space to match that feeling. From new desks to freshly painted walls, many companies look for ways to give their employees a professional and comfortable work environment. Investing in a clean, functional workspace can help attract top talent and show off what you’re working toward as an organization. 

7) Being environmentally friendly

We’ve talked about how environmentally friendly renovations can be good for business. In fact, many customers will choose businesses that are green because they believe those businesses are more conscious about their impact on the environment. That’s a win for everyone involved—and not just because you’ll be saving money on overhead expenses like utilities, but also because you’ll see an increase in employee productivity and morale. And if that isn’t enough to convince you to pick up a paintbrush and start sprucing up your office, consider that some businesses actually receive tax credits when they upgrade to green-friendly systems and practices. Talk about incentive!

8) Increasing employee morale

One of the biggest reasons why small businesses should renovate their office space is to improve morale. You can get a lot more done when you’re happier and more engaged. Good morale leads to higher employee productivity, which leads to greater profits for your business. It’s also worth mentioning that if you want to attract and retain great employees, you need a beautiful work environment in which they’ll want to work. In addition, people are going to judge you based on how nice your office is (even if they don’t consciously know it). Even if only subconsciously, employees will feel better about working at a company with an office that feels nice and clean, rather than one with ripped-up carpeting or gross bathrooms.

How a merchant cash advance will help you fund your project

A merchant cash advance, also known as an MCA, is a payment that you can get from a lender for your business. It’s especially valuable if you’re trying to renovate or expand your business and need extra funds. In addition to helping you with financing your project, MCA lenders also provide other useful services that can improve your business. If you’re interested in getting an MCA, take some time now before starting renovations or expansions—it will save you both time and money in the long run!

If you need cash and are looking for some extra funding, you should consider a Merchant Cash Advance from United Funding Group. From higher employee retention to lower operating costs, there are many reasons why your business would benefit from an improved office space. There’s no reason why any small business shouldn’t take advantage of these perks—and a Merchant Cash Advance from United Funding Group is just what you need to finance your renovations! 

To learn more about improving your office space today, contact United Funding Group today by filling out our online form or giving us a call at 1-954-287-4539. Don’t forget: if you’re looking for financing options that are designed with your small business in mind—including Merchant Cash Advances—we’ve got you covered there too! So don’t hesitate to speak with one of our representatives today.

Why Do Small Business Borrowers Opt for a Merchant Cash Advance?

Businesses have many needs, and finding the right financing solution can be a challenge. Cash flow problems are common in any business, so it’s good to know what you can do to prevent them from getting out of hand or even starting in the first place. With the help of an experienced merchant cash advance funding source like United Funding Group, you can start seeing the benefits of merchant cash advances now. Read on to learn more about why so many small business owners choose to use United Funding Group’s merchant cash advances when they need fast access to capital.

What Is a Merchant Cash Advance, Anyway?

A merchant cash advance, also called a business cash advance or online cash advance, is essentially an advance on your credit card processing fees. It works much like a traditional business loan and can be used to grow your existing business or start up a new one. If you run an e-commerce store or are in another industry where credit card transactions are processed by large third parties, you may qualify for up to $500,000 in financing—with rates that can be as low as 10 percent (compared with rates as high as 30 percent for small-business loans from banks). And unlike most bank loans, there’s no collateral required.

Why Do Small Business Owners Choose MCA?

In today’s economic climate, working capital can be hard to come by for small business owners. While banks may have rejected you in your time of need, there is an option that can help get you out of debt and back on track with little money down: merchant cash advances. In 2021 alone, United Funding Group sourced more than $500 million in short-term loans and funds to small businesses across America—and we are only getting started.

How Does The Application Process Work?

The application process is simple and fast. We will send you all of our forms electronically, and work with you every step of the way. Our underwriting department must make sure your business qualifies before we fund your loan, which means that it usually takes about 72 hours to get everything approved. But once we do, you’ll be off to start funding your next big project! The entire United Funding Group team is dedicated to providing first-class service from beginning to end—and beyond. You’ll have full access to our customer service agents any time you need us. Whether it’s day or night, during business hours or on weekends, we will always be there for you.

How Is the Money Distributed to Me, Exactly?

You’ll get your advance within 24 hours of signing your merchant cash advance agreement. The amount you get is based on a percentage of your daily credit card sales and can be distributed to you in one or multiple payments, depending on what you and United Funding Group agree to. Most borrowers receive 100% of their cash upfront, but there are some cases where additional fees are due up front. These fees are usually paid out by check or wire transfer, but United Funding Group does offer financing options to those borrowers who have been pre-approved. No matter how much money you borrow, however, you never pay back more than 20% of your daily credit card sales over 12 months.

Are There Any Fees Involved With This Type of Loan?

Many business loan types will include fees, and merchant cash advances are no different. The merchant cash advance from United Funding Group doesn’t include any origination or closing fees. In addition, your loan repayments are applied directly to your day-to-day business expenses so that you don’t have to worry about using profits to pay back your lender.

Useful Resources

If you’re looking to start or grow your business and would like access to more cash flow, you should speak with one of our merchant cash advance specialists at United Funding Group. We will walk you through each step of our process, so you know exactly what to expect during each stage. Our specialists can be reached at 1-954-287-4539, where we’ll answer any questions you have and explain how we can help put cash back in your business.

How to Easily Qualify for a Merchant Cash Advance

Looking to make an investment in your business? The merchant cash advance option from United Funding Group can help you grow faster and provide the resources you need to move forward with confidence. In this guide, we’ll discuss the basics of what a merchant cash advance is, how it works, and whether it’s right for your business. We’ll also answer common questions about how to qualify for one and how much funding you might be able to get through this kind of loan.

What Is a Merchant Cash Advance?

A merchant cash advance is an advance made to a business based on its future credit card sales. The business agrees to give its future credit card sales over to its merchant cash advance provider. In exchange, they receive money today in order to cover operating expenses and other day-to-day costs of doing business. To simplify things, you can think of it as someone buying your credit card sales in bulk so that you can receive payment today instead of 30 days from now. They take on all of the risks, which means if you don’t sell enough product, there’s no need for them to pay out anything; but if you do sell enough product, then they make money too.

Types of Loans Offered by United Funding Group

United Funding Group has more than 30 years of lending experience and a full suite of lending options available, including merchant cash advances. With fixed monthly payments and competitive rates, merchant cash advances are an ideal way to grow your business. And with no collateral required, credit scores aren’t important. If you want access to funding but don’t have an extensive financial history or high credit scores, it might be difficult—if not impossible—to find financing from another source. That’s where we come in. We offer fast loans backed by collateral as well as small-business lines of credit that can be accessed whenever needed. No matter what kind of loan you need, United Funding Group will work with you to determine which type works best for your company’s needs.

Benefits of Working with UFG

When you work with United Funding Group, we’ll help you understand how merchant cash advances work. With us, you can easily qualify—and we’ll guide you every step of the way. In fact, with UFG, it’s easy to see why our clients choose us time and time again: whether you need a business loan or any other kind of financing option that makes sense for your business plan; we’ll help guide your company through each step of its growth phase. 

The Easy Process

Most merchant cash advance providers are willing to offer loans up to $500,000. The funding amount you need will vary depending on how much money your business is losing each month and how fast you want or need to get back on track. You’ll be required to provide financial statements and other documentation, but your business won’t undergo any invasive audits from United Funding Group—it’s as simple as 1-2-3.

How Much Can I Borrow?

If you’re considering getting a merchant cash advance, you may be wondering how much you can borrow. In most cases, business owners borrow anywhere from $30,000 to $500,000. There are two factors that affect how much money a merchant cash advance lender will extend: 1) your monthly revenue and 2) your credit history. The higher your revenue and your credit score, the more money you’ll likely qualify for in an MCA loan. Please visit our website to learn more about how much we offer on our Merchant Cash Advance products.

Resources

Here are resources about merchant cash advance loans from United Funding Group. These may help you understand more about it and take the steps to apply. If you have any questions, please feel free to contact our team. We cannot wait to hear from you!

The Ultimate Guide to Merchant Cash Advances

How do Merchant Cash Advances work? 

This Ultimate Guide to Merchant Cash Advances from United Funding Group covers everything you need to know about rates, payments, and timelines for this business financing option. If you have any questions about Merchant Cash Advances after reading this Ultimate Guide, please contact us! We’d be happy to help you find the best financing option for your business!

Merchant Cash Advance Vs. Business Line of Credit

The two business financing options are fairly similar, but they have their pros and cons. A Merchant Cash Advance (MCA) is a non-recourse loan that’s funded from your credit card transactions. A Business Line of Credit (BLOC) has more flexible terms for when you pay back funds, but it also comes with significantly higher payments.

Understanding How Fees Work

When you receive a merchant cash advance, there are generally three separate fees that come with it: A finder’s fee (sometimes known as a broker fee), an origination fee, and interest. The way in which these fees work depends on whether or not you have a line of credit associated with your account and what type of transaction is being made. There are two main types of loans for MCA’s: Revolving & Non-Revolving lines of credit. You may choose either one depending on your individual needs. 

Transparency in the MCA Process

Business owners want to know all about their options and what it will cost them when financing a business. To ensure that you’re making an informed decision, make sure you find a lender who is willing to be transparent throughout your entire transaction, including interest rates, fees and payment schedules. Lenders like United Funding Group are committed to transparency through every step of their MCA process. Contact us today if you’d like more information on rates, payments and timelines associated with our services!

Funding Within One Business Day

A merchant cash advance is a method of business funding that offers access to capital within one business day. Because traditional financing is often tedious and time-consuming, merchants are turning to merchant cash advances (MCA) as an alternative method of financing.

What Kinds of Businesses Qualify?

Any business operating in North America with low-to-excellent credit rating can qualify for a merchant cash advance. UFG partners with companies in a variety of industries, including: insurance and property management, healthcare, hospitality and dining, IT services, and retail. If you don’t see your industry listed above but you’re still interested in learning more about merchant cash advances, contact us directly at (954) 287-4539 to learn more about what types of businesses qualify.

Understanding Rates & Repayment Terms

Understanding rates and repayment terms is one of the most important steps in getting a Merchant Cash Advance. Rates for MCA’s will vary significantly from one provider to another; getting a 10% loan from one provider is far different than taking out a 10% loan from another. Look into repayment terms as well – if you can take out a $50,000 loan at 5%, but your payments are $5,000 per month, that would be more expensive than taking out a $25,000 loan at 15%. Pay close attention to rates and terms when comparing different providers so you can find an MCA that best fits your needs. That being said, it’s common practice for businesses to borrow between 80-120% of their monthly credit card sales (and note: credit card sales isn’t synonymous with income—it doesn’t include cash purchases). This means that successful businesses will usually carry a balance equal to 20-60% of their overall annual revenue. 

Scheduling Payments by Pre-Authorized Debit (PAD)

Unlike loans and credit cards, merchant cash advances make scheduled payments by pre-authorized debit. Scheduled payments help merchants manage their cash flow more efficiently because they don’t have to worry about forgetting a due date or avoiding paying a payment fee. In addition, PADs allow merchants to request amounts less than $10,000; credit card transactions can have limits as low as $500. Just like every other form of business financing, merchant cash advances aren’t one-size-fits-all and should be customized based on your business needs.

Do I Need Additional Finance Options? Contact United Funding Group to Learn More!

To many small business owners, a traditional loan from a bank or credit union is an appealing way to get access to capital. But in some cases, those loans might not be available or may not come with an attractive enough interest rate. Consider another option: merchant cash advances (MCAs). These specialized financing options allow you to borrow money from a third-party lender—one that works with businesses in your industry—and you repay it through your daily sales proceeds. You can take out multiple MCAs for several different purposes, and each one will come with its own set of terms and conditions.

For more information or answers to any questions, you may have, contact United Funding Group today!

Is a Merchant Cash Advance Good for Your Business?

A merchant cash advance from United Funding Group can be an excellent way to finance your small business, but only if you do it right! Learn how to assess your company’s needs and if a merchant cash advance from United Funding Group fits into your overall financial strategy in this article on merchant cash advances.

What is a Merchant Cash Advance and Why Get One

A merchant cash advance (also known as MCA) is short-term financing that gets you cash quickly. The benefits of an MCA are numerous, with increased revenue being just one of them. If you’re currently looking to grow your business but don’t have enough capital on hand, then a merchant cash advance may be a good option for you.

Benefits of Merchant Cash Advances for Small Businesses

Unlike loans that require you to pay interest on your balance, merchant cash advances have few strings attached. You get to keep 100% of your credit card processing revenue, as well as keep your existing merchant account. There are no extra fees or hidden charges. And, you won’t be stuck with loans lasting several years—cash advances can be paid out in anywhere from 30 days to 12 months.

Understanding Payments, Rates, Fees and Timelines

Terms like APR, finance charge and commission can be confusing, especially when you’re looking at whether to get a merchant cash advance. To make sense of it all, it’s important to understand how these terms are used in business. If you need help figuring out what type of small business loan is best for your business, feel free to contact us or check out our guide on rates, payments and timelines. We’ll help you better understand what to expect from different financial services so that you can make an informed decision about whether a merchant cash advance makes sense for your company.

The Process of Getting a Merchant Cash Advance

The merchant cash advance industry is growing exponentially, as more businesses and business owners search for viable financing options. Before you jump on board with one of these loans, it’s important to know what’s involved in getting one. In order to qualify, you’ll need at least six months of business operating history, and be able to provide tax returns (or be willing to provide them when requested). Next comes something called proof of funds—where they take into account how much money you make on average per month. 

How to Use Funds From Merchant Cash Advance

A merchant cash advance from United Funding Group is your best option, here are some ways to use those funds: 

  • Make necessary upgrades: If you’re interested in new point-of-sale systems or credit card machines, now is an ideal time to do so. Not only will these upgrades make your business more efficient, but they can help prevent business interruptions.
  • Pay down debt: If you are carrying high-interest debt, like credit cards or even one of our personal loans, consider using funds from your merchant cash advance to pay it off. This can help lower interest rates on future debts and put you in a better financial position overall.

How Can You Afford Not to Get an MCA Loan?

Many small business owners take out merchant cash advances because they’re tired of hearing no from traditional lenders. Without an MCA loan, many businesses would never get off the ground or even survive through tough economic times. When you choose an MCA lender like United Funding Group, it’s easy to see why so many borrowers have gotten an MCA loan to finance their growing businesses. 

Why Choose United Funding Group as Your Provider?

While there are many financing options available to small businesses, most fail to meet all of a business owner’s needs. A merchant cash advance is a popular form of business financing because it offers more flexibility than traditional bank loans, which often come with strict repayment terms and high-interest rates. With United Funding Group’s flexible repayment structure, you can repay your capital in full whenever it makes sense for your business — whether that’s in 30 days or three years. We don’t charge any prepayment fees or hidden costs. Apply quickly here

So if you’re looking for small business loans that will work with your busy schedule and offer financial flexibility, then contact United Funding Group today!