Hurricane Matthew may not have wreaked as much havoc to the State of Florida as predicted, but Ace Biz Funding has seen the affect that the storm had on Florida business owners. Many small businesses closed in preparation for what was going to be the storm of the century, and the downtime hurt profits. Governor Rick Scott authorized the distribution of emergency business loans up to $25,000 for businesses that experienced property damage and/or lost profits during the downtime from the storm.
The Emergency Bridge Loan program was put into effect on Monday, October 10, and the state will be accepting applications until November 11. Businesses must demonstrate loss and have between two and 100 employees. It is not unheard of for states to create programs that offer emergency business loans after natural disasters, as a means to stabilize local economies. The Small Business Administration has outlined what constitutes the need for these emergency business loans and offers guidelines to obtain one in such situations. The disaster assistance guide can be of great help to business owners who need to know where they stand.
As a provider of online business loans, Ace Biz Funding knows how even one day without operations can cause real damage to a small business’ finances. These emergency business loans will go towards making businesses whole again.
Business owners should consider contacting online business lenders like Ace Biz Funding as an additional means to weather the storm of difficult financial times.
The first thing on every entrepreneur’s mind when the economy goes on the upswing is growth. Client growth, physical growth and revenue growth. The recession may finally be over, regardless of the gloomy reports of a second recession from the Duetche bank. At the moment, growth is the mindset. Entrepreneurs are looking into business loans, online loans, and building while the economy is looking good. Fast And Easy Funds understands this trend and recommends that business owners always be careful and mindful of potential shifts in the economy.
As more reports of business loans and online loans increasing drastically, and regulations coming, it is easy to be swept up in the possibility of expansion. Ace Biz Funding has explained that small businesses are bouncing back from the recession, which can be seen significantly since May of this year. There is nothing more exciting than the possibility of industry back on the rise in the United States.
Many local entrepreneurs turn to online business loans as their only means of capital, and that is understandable, but the fact remains that it is your duty to be mindful of the loans you are taking. When considering easy term loans from Ace Biz Funding, remember that the length of the loan and what you can afford are the two main factors to consider.
Although we agree that avoiding big banks simply to bypass the headaches that are inherent in the application and repayment process, it is important to note that online business loans are easy to get, but they still have to be repaid. Do your homework and find out what’s best for your business.
The online lending scene has had a year of ups, downs, and a few twists and turns. For one, more regulation and government oversight has been a hot topic in the financial sector recently. Additionally, competition from big banks granting small business loans has shaken up the industry. The average online lender services like asset based lending and cash advances is experiencing some growing pains.
As a sense of legitimacy enters the world of online lending, the industry itself is shifting to take on new responsibilities and adapting to the new market. As a proprietor of cash advances and other business lending practices, Ace Biz Funding understands the importance of maintaining pace with the ever-changing financial market.
The financial market has always been a difficult sea to navigate. It would seem that more proof of the existence of Adam Smith’s invisible hand guiding the market can be found in the decision made by big banks to reconsider how they award business loans in 2016. The decision for JP Morgan and Wells Fargo to follow in the footsteps of online small business loan lenders is also prove that it is working.
What’s next for the online lending industry, small business loans and cash advances? Exponential growth is expected, as well as big banks creating some competition, but there is skepticism that big banks will be able to be successful in lending small business loans in the same fashion as smaller online lenders like Ace Biz Funding.
Last week’s blog post delved into the recent study that confirmed that most Americans are financially illiterate, and this week we delve a little further into those repercussions. Deutsche Bank experts say we are headed for a second recession and it is likely that soon entrepreneurs will be requesting more and more emergency business loans.
Fortune Magazine reported a 60% chance of returning to a great recession in the next 12 months. Experts report that the “difference between yields for long-term and short-term bonds have been shrinking.” Since this was the case for the last seven recessions, experts believe another is coming.
Financial education and literacy affects the outcome of not only individuals or classes, but it could also have disastrous effects on the country as a whole. We could be heading for a second recession simply because we are not being careful with our money.
Emergency business loans can and often do save companies from shutting down, and in the long run, this has a better effect on the country as a whole. But if we enter into a second recession, emergency business loans will increase, and if business owners are not careful, they may find themselves in worse shape than before.
Ace Biz Funding understands the importance of financial literacy. If emergency business loans increase dramatically in the event of a second recession, we want our clients to be prepared. Full articles that define our online business loan services can be found on our website.
If we truly are headed for another recession, be smart, start now and get educated.
A study conducted by the U.S. Financial Capability Organization has confirmed what most have probably expected: Americans are financially illiterate when it comes to understanding business loans. It seems that as a people, Americans are bad at budgeting, saving and financial decision making. From online business loans, to cell phone bills, Americans just don’t understand the bigger implications.
Time Magazine said that the study “estimated that nearly two-thirds of Americans couldn’t pass a basic financial literacy test,” and the overall percentage of those who have passed has dropped significantly.
It’s not hard to understand why; there simply isn’t enough financial education in our formative years. Schools teach algebra and calculus, but students graduate not understanding business loans, having little to no knowledge of monthly budgeting techniques.
As a financial service company that offers online business loans, Ace Biz Funding understands the importance of educating the public and entrepreneurs about loans, interest rates and financial structures. Our financial loan articles detail as much as possible to promote the understanding of business loans as a core value.
When online business loans are met with skepticism, it can be attributed to a misunderstanding of business loans in general. If something sounds too good to be true, then it is; that’s the phrase that dictates whether loans are utilized properly or not.
Online business loans can be the difference between the life or death of a business, but they must be used correctly. There is no quick solution to this problem. It is up to us to hold each other to higher financial literacy standards.
The small business lending company, Ace Biz Funding, realizes that sooner or later most businesses will have to consider how they will finance their company’s operations. Whether company owners decide to take out a small business loan, draw from their savings, or another option, they will need to make the decision that is best for the company. Many people are wondering how entrepreneurs are faring on the various avenues to find their business financing solutions. Providers of working capital for small businesses explain what is happening in three of the biggest areas of funding in 2016.
– Bootstrapping: Funding your business yourself is the simplest but most difficult financing route. On the plus side, you are in complete control of your finances. On the other hand, you are on the hook for every penny you invest into your company.
– Alternative Lenders: Most recently, the business finance world has exploded with alternative lenders such as Ace Biz Funding. Alternative small business lending companies provide faster, smaller, and easier to attain loans through online application and transfers process.
– Traditional Banks Loans: Plenty of small businesses are still turning to the more traditional way of receiving working capital from bank and the Small Business Administration (SBA). While there is still a lingering perception that banks are not lending, this is not the case.
– Raising Capital: Many people turn to venture capitalists and angel investors to get their company’s the working capital it needs. This avenue of raising working capital requires a well-written business plan, solid financial projections, and a surplus of confidence. A digital presence also helps securing working capital through fundraising.
– Crowdfunding: Crowd funding is fastly becoming a go-to option in a world for businesses who wish to raise money without the pressure of formally pitching a business plan to investors. Crowdfunding is the process of raising money through an online platform such as Kickstarter, Indiegogo, and GoFundMe.