Where do you go when you’re looking for extra working capital? Your bank, for sure, maybe one possibility. Then again, maybe not. But it’s not the only place to source extra cash to strengthen your business.
For example:
- Factor your invoices. Improve cashflow by selling your accounts receivable to a factoring specialist.
- Get a loan from the US Small Business Administration (SBA). Interest rates are very low.
- Borrow online — but beware of scammers. Here’s a list of reliable lenders: http://tinyurl.com/bizloan-list
- Use crowdfunding. Raise money from a large pool of small investors. Search online for “business crowdfunding”.
Food for thought? That extra capital could take your business to the next level in 2018.
And if you need an insurance review, just give us a call: 844-631-4901