With location so important to a small business, entrepreneurs look far and wide for a nice piece of real estate, only to find pricing exceeds their budget. Before they know it, business owners need more cash than expected. And, with everything else they have to do, no one ever explained daily financial operations.
Opening a gift shop, book store, restaurant and bar, or hair salon, business owners will face at least three problems that can make or break a small business: realty loans, ready capital, and financial systems.
- When it comes to real estate
New business owners may have a passion and energy, but they probably don’t know real estate. They need a third party advisor to analyze what the owners can afford, how they can put together the most beneficial loan package, and what equity options they can build, use, and exploit:
- VA loans for active military, service veterans, and surviving spouses of military. Eligible vets can buy a residence with no down payment and reduced interest rates. That can free money to invest in your business.
- Jumbo Loan, customized for self-employed business owners, can still let you buy that home you wanted while giving your business a chance to get off the ground.
- Credit repair may be necessary if you want the loans you need. But, loan professionals know where to look for issues and how to solve the problems.
Borrowing is scary under normal circumstances, but it’s a real burden when you are juggling all the obligations of owning a business. A qualified experienced expert can reduce that hurdle.
- When it comes to capital
New business owners are invariably surprised by the money they need. They grossly underestimate what the startup process costs, and that alone can crush the spirit. Regardless of the surprise and fear, there are sources to help fill the unpredictable gaps.
Forbes points out the risks in do-it-yourself, crowdfunding, angel investors, and “friends, family, and fools.” But, there are workable options:
- The Small Business Administration (SBA) provides extensive information on resources for startup capital. It offers loans and direction to the Business USA Financing Tool.
- Local banks may have capital available, but their ability to risk depends on the limits and restraints in new lending rules.
- One-stop business resources like Maverick Bankcard a customized financing program that permits the business to repay the advance through a combination of monthly ACH payments and a percentage of credit card processing.
- When it comes to financial systems
Most entrepreneurs have bigger pulls on their energy than handling daily business transactions. Still, they have to process money, including payments, taxes, payroll, and the like.
Maverick Bankcard form small business relationships as a control central for financial transactions with software and hardware for point-of-sale, credit card processing, accounting systems, check processing, and fraud prevention.
With special disciplines serving restaurants, gas stations, retail stores, and hospitality, they understand needs for business funding and merchant cash advance. Custom client relationships also facilitate transactions for e-commerce, mail-order, and non-profit operations.
So, in the face of problems that can make or break a small business: realty loans, ready capital, and financial systems, you can find all you need in terms of experience, specialization, and support. Florist, Bed & Breakfast, Wine Store, and more, they all find the sort of help that relieves them to reduce their worries and build their business.