Your Best Source for Business Working Capital

Open a New Location ~ Repair the parking lot ~ Repaint the exterior ~ Upgrade Your Dining Room ~ Add a Bar~Add An Outside Patio ~ Add Inventory ~ Replace that Old Equipment Before it Breaks Down ~ Do an Advertising Campaign to Increase Business ~ Buyout a Partner ~ Implement Your Emergency Capital Plan ~ Take a vacation to recharge yourself to be more productive and make more money.....
   A Dollar A Dime

On this anniversary of a great tragedy in American history, we must move forward with business. Those that were honored today would want that, as America must go on!
So you do you want to know about merchant funding? What is merchant funding? Good question. Merchant funding is the extending of credit to a business, that needs working capital. This working capital, when funded to the business / merchant can be used for a variety of business needs. The funder will underwrite the funding then fund the amount that the business qualifies for, or a lesser amount if the business qualifies for a greater amount. During the underwriting process, the underwriters, check and verify  ownership, check and verify credit worthiness, verify with the landlord, or mortgage holder the presents of a lease or mortgage longer than the length of the funding payback period, along with several other determining factors. Once the merchant/business, it's principles or owners past the scrutiny of the underwriters and all the paperwork is in order the funds with be disbursed to the appropriate parties. Those parties could be an equipment, food, or product vendor or as simple as all the funds going to the merchants designated bank account.
Today I would very much like to address a subject that is to often, overlooked by the  business person, starting, owning, running or managing a business in today business world.
The subject, "Credit". Yes Credit.  While there are many  many business owners and business principles that have good credit, there are many more, that have less than desirable credit. A business needs to have an owner or principle that has good credit, or a bank account full of cash. Most don't have the bank account full of cash, and many have bad or less than desirable credit, yet 97% of businesses will need funds for an emergency, expansion, or improvement, or just to meet the day to day obligations that come up while running a business.
Tomorrow, get your credit cleaned up.
Get your credit cleaned up, keep it cleaned up, and at the same time get that bank account filled with cash. While cash in king, the same way a good home cooked meal is something to be appreciated, credit can benefit a business the same way going out to dinner can give the cook at home a break. Credit can allow a business to do things, that the cash in the bank can't. While cash in the bank may be limited, credit can help leverage a businesses position. Where that lump sum can open a second or third location, which will in deed change the business forever can give more flexiblity.
Charles Lazrus, founder of Toy's RUS (r backward), was asked, just when his personal success came. Even though he was making a good living, and at that time had several stores, he said his success came when "he opened his second store".
Yo see, if you have a profitable business, that is paying it's bills and giving the owner a good living, and you open a second location, that is also profitable, then the personal overhead stays the same , and the extra profit starts making you, secure. Whether you do it with cash or credit, the result is the same. If you make the second location, as successful as the first, your financial well being will grow more than you know.
We always wonder. Will I be able to run that second location? The key to a second, and subsequently a third and fourth location, is to find the person that you can train to do you job, then step up to the second, train the right person, to run the second, then work closely with them. Check, recheck and check some more to make sure that while you are growing new units, the old ones as not slipping. I once had a great friend that started with one, then got a second and then a third. The only problem was that he wanted to much to play, and let them go into the ground. he once again did the progression from one to two then then locations, and again lost them all. You not only have to have to money to grow, then grow, but you have to be the right person.
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