My Business Took Off Better Than Expected, But I Need Funding to Grow

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My Business Took Off Better Than Expected, But I
Need Funding to Grow
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Starting a new business and having it take off
better than you expected is always good news.
However, as a result, you may encounter the
problem that you cannot handle the increased
business yourself. Although a better problem to
have than your business not succeeding at all,
depending on your specific kind of business, this
can be just as big a problem to solve so your
business can meet your market demand and not
burn itself out too early to succeed at scale.
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For instance, if you are in the software services
industry, building websites, early success may
mean that you need to bring on additional help
fast. You know that these people will need to be
high-quality and skilled in their field. You
could take on freelancers (independent
contractors) in the near term, but you know that
eventually you will need one or
more full-time employees.
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Even if you can make do with freelancers, you
will still need to pay them and many will likely
demand some of their fees up front. Though you
did have enough foresight to set aside funds for
certain third-party software costs and more
hardware, you were not expecting freelancer fees
or the expense of taking on an employee payroll
and the other costs of supporting a growing labor
force. You still want your business to keep
growing, so you do not want to turn down any good
work. What do you do now?
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Can You Go to the Bank for Help? Traditional
banks are not always willing to give you a loan
or line of credit to address this type of growth
problem, common as it may be for early-stage
businesses. After all, they have no guarantee
that after this sudden boom in demand for your
product or service, your customer base will
continue to grow, that you will retain the
customers you currently have, or that those
customers will keep spending at the same level
going forward, despite your own best instincts
and assurances.
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In the case of your website business, you know
website and online marketing cannot be static or
they will fail to bring in the business your
customers seek. However, you need enough money
soon to cover the professional fees, new employee
salaries, and other hard costs of ramping up
productivity. You have set up your business so
payment from your customers is expected 30 days
after your product is delivered and accepted.
Once these accounts start paying regularly, you
strongly believe you will be able to handle the
additional running costs, but until then, you a
merchant cash advance would certainly allow you
to begin the process of addressing the market
demand.
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This is where a cash advance financing business
like Cresthill Capital comes in Cresthill
Capitalis dedicated to helping micro and
small businesses get the funding they need to
enable them to address these kinds of good
problems that result from the unexpected early
success of your business.
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How Can These Companies Help Me
Fast? Cresthill Capital reviews your business
revenue stream and historical receipts, as well
as how you allocate your revenue to reinvest in
your business and to pay yourself and your
workers. In this case,CresthillCapital would also
review the professional fees or salary you intend
to pay workers to determine if it is in line with
its understanding of current and accepted
practices in your industry. If your business is
ultimately considered to be a good
risk, Cresthill Capital will work out the details
with you to match your business with one or more
merchant cash advance funders to provide your
business the best deal it can find on your behalf.
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Once you fully understand and agree to the
proposed terms of the cash advance financing,
contracts are prepared and signed by all parties
and your business can have the funds it needs
often within 24 hours and you can confidently
take on the obligations of additional workers.
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Prior to signing any contract, make sure you look
up things like CresthillCapital complaints. This
will show you how the company you are considering
handles people who are not happy with the
decisions they made.