37% of Businesses in November of 2022 could not pay their monthly expenses! This is a problem. Can you guess why Business Owners are in this position?

Business does not have enough sales? Nope

Business is run poorly? Nope

There are a ton of these questions that could be answered with Nope! What is the reason? Some of these could be the reasons which are very common in business.

1. Owner is waiting for customers to pay 90 day invoices.
2. Owner needed to hire extra employees for the season before the sales came in.
3. Inventory prices went up and inventory must be bought before sales are made.
4. A recent renovation took place that used up more capital then expected.

Can you imagine more reasons a business might be short on Money?

This is all normal business practices and these can happen to any business. This does not mean the business is going out of business. It just means they need a little capital to keep going.

Can this be solved with a few simple loans? YES!

1. Waiting on Invoices to be paid- Factoring Capital
2. Hired extra employees- Line of Business Credit
3. Inventory Prices went up- Credit based Line of Credit
4. Recent Renovation- Line of Personal Credit

Need to upgrade your Equipment to meet orders? Equipment Financing is also an option.

Is your business and personal credit not great? There are loans for that also. All they are concerned about is if you have the sales to support the payments.

This 37% does not need to happen.

Another issue is the Banks.

Most Businesses go to their bank that they have their business account with to borrow money. The trouble with that is the big banks only lend to businesses that don’t actually need the money, especially now in the recession. To make things worse they take 6 weeks to give you an answer which could be NO! Businesses cannot wait 6 weeks for capital they need NOW!

Bounteous is here not only to get you the Money your business needs now but also to help cut your expenses. Have a free consultation and see if we can save you some money on credit card processing or software. Or better yet…upgrade your automation and get you more sales so you never have to borrow money again…unless you are expanding!

Look forward to chatting!