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July 3, 2022

4 Financial Challenges Business Owners Must Overcome

Your ultimate objective as a business owner is to be prosperous and acquire the financial freedom you have long desired. Your goals are not unrealistic, but it is crucial to remember that a business success does not always equate to financial success. Every day, major issues confront businesses, with financial challenges taking center stage. In order to avoid being caught off guard, it is wise to fully prepare. The following are the typical financial issues that you need to overcome:

Insufficient Cash for Operations Maintenance

You have been in business for some time, so you are aware that money is needed to make money. However, the bulk of business owners consistently struggle with controlling cash flow for daily operations. According to a 2019 poll, 33% of small business owners identified a shortage of funding as their worst financial concern. Even if you have yet to encounter this issue, you should be prepared because it is a persistent problem in all businesses.

To pay for ongoing expenses like rent and wages as well as additional expenses like paying business taxes, repaying loans, getting equipment and supplies, and more, your company needs money. When there is not enough money to keep running your business, try to increase cash flow by taking out a working capital loan, for instance. Keep in mind that poor finances might ruin the company you have worked so hard to establish.

Keeping to a Budget

The management of important company activities depends on budgets. Unfortunately, many business owners find it difficult to keep to budgets. This is a problem that you will eventually run across as your firm develops. Discipline is essential when it comes to adhering to your business budget. Make a realistic plan outlining your company’s objectives and potential for profit as a starting point. To make sure you are on the correct track, arrange monthly budget reviews. Constantly creating and revising your budget fosters accountability and aids in financial decision-making.

Unexpected Expenses

It is simple to overlook some charges that you cannot forecast when you manage a variety of recurrent bills. These expenses encompass repairing equipment, replacing goods that have been stolen, leasing equipment, adding extra security measures, repairing damage from accidents and other calamities, and others. Include emergency expenses in your budget to make sure these costs do not negatively impact your company’s operations. To determine the precise amount you must set aside for unexpected expenses, use your historical data. For instance, if your company’s A/C system needed maintenance last year, budget $300 more for that expense this year.

Marketing and Advertising Costs

One of the main difficulties that small business owners confront is marketing and advertising. It is difficult to find resources to compete with expensive marketing efforts launched by well-known businesses in your niche. This problem is not difficult to solve. Invest in efficient SEO methods rather than burning through your cash attempting to compete with major brands. Always produce useful material that raises your search rankings, and distribute it on many platforms. Regularly giving your prospects value will encourage them to seek out your goods and services. At some point, you will increase your leads, conversions, sales, and profits.

July 1, 2022

3 Ways Veterinary Loans Can Elevate Your Practice

As a veterinarian, you should be aware that in addition to ensuring the wellbeing of the animals in your charge, you also need to make sure that the appointment procedure is smooth and simple for the pet owners. It should be noted that even if your practice experiences exceptional success, you might not have enough money left over once all the bills are paid and certain recurrent expenses are covered. The following are a few strategies you can use veterinary loans to improve your practice.

Up-to-Date Tech

The harsh reality of the medical field is that having access to quality equipment means that your patients or animals will receive better care and treatment. You have a duty to maintain your technology up to date and give the animals the attention they require because pet owners are spending so much money to aid in the animals’ recovery. As a result, you can use veterinary loans to lease equipment if you notice that your equipment is old or not functioning as well as it once did. Because they will then be willing to put their trust in your ability to perform medical operations in the site of your business, which can help to ensure the loyalty of the pet owners.

Increasing Headcount

Customers leaving veterinary practices due to lengthy wait times is one of the main issues that business owners deal with. If you are unable to handle the volume of clients and they begin to cancel appointments, it could reflect poorly on your reputation and discourage future clients from using your services. You should use the business loan to recruit more support staff in order to combat this issue so that they can assist the clients and benefit from significantly lower wait times. If the demand is still too great, you can think about using working capital loans to recruit an additional veterinarian.

Marketing Purpose

It is critical that we move our services online in this era of technology. For this reason, investing in digital marketing methods is a good idea when trying to attract new clients. Keep in mind that running a veterinary practice is like running a company. Thus, you must never be content with your current clientele. Always keep an eye out for opportunities to increase your following. While retaining clients is crucial for businesses, acquiring new ones is equally vital if you want to assure the expansion of your practice. You can improve your marketing efforts by updating your website in addition to using print advertising through the funds from the veterinary loan.

Veterinary Loans to Elevate Practice

We hope you have benefited from our sharing on the different ways that veterinary loans can help in elevating the infrastructure of your practice. With correct funding and the right processes, you can take care of the current wellbeing of your clinic while also improving the overall customer experience. Having enough funds to always sustain daily operations is essential to continue practicing as a vet to support the needs of the pet/pet owner community.

December 2, 2020

Small Business Working Capital: Pet care (except veterinary services)

We all love our pets. For many people, pets are dearer to them than their children. The Petcare industry is worth billions of dollars in the US and that is not an exaggeration. Close to three-quarters of all households in the US own a pet. These numbers are staggering and they show no signs of abating. That is why pets and pet care have become a very profitable industry.

What is Petcare?

When we think of pet care, we immediately think of veterinary services. It is not like that anymore. Pet care is more than just taking your pet to your nearest vet in need of medical care. Pet care comprises a whole lot of services and activities that people tend to obtain for their furry (and not so furry) friends. Let’s take a look at some of the popular ones below;

Boarding facilities: It can be both for a day or on a long term basis. Pet owners like to lodge their pets in a safe, friendly, and hygienic place while they are away for work, holidays, or other commitments.

Pet Spas: Pet spas have caught on in recent times. They offer a host of services that include regular to luxury baths, manicures, pedicures, trendy haircuts, and whatnot.

Gyms and playlands: Pets can get bored with their daily routines and environment. They need a healthy dose of exercise and playtime daily. So, gyms and play centers have sprung up that cater to them exclusively.

Training centers: These are especially popular for dogs and cats. We all want them to be obedient and behave properly. A training facility with trained staff would help them become just that.

Opening a pet care center:

As you can see there are plenty of options when it comes to pet care. You can be innovative and come up with an entirely new idea when it comes to pet care. If your idea clicks, then you can be rolling in money very soon.

Cost of opening a pet care center:

The cost of opening a pet care facility comprises of a piece of land, located at a suitable place, hiring of trained staff, toys, equipment, and other supplies for the pets, and lastly, you will have to set aside a budget for advertising and marketing. If you do not own land, then you will have to lease a place and pay for its rent. Once you have drawn up a business plan adding up all the expenses you would know how much capital you need to start this business. You would also factor in your expected income and find out your working capital requirements for every month or so. Once you have the financial figures, you can start looking for a source to arrange finances for it.

November 10, 2020

Merchant Cash Advance or Short-mid Term Business Loan

Going right into the meat and potatoes of working capital made out by investors with terms ranging anywhere from 3-24 months is for the business owner to take advantage of the early prepayment discount that VIP Capital Funding has to offer. Why may you ask? Usually, a merchant cash advance has higher interest rates ranging from 20%-40% on average over the course of the term. That is a bit high but it is also a tax write-off just to add. But the point of this entire blog is to take advantage of the early prepayment discount ranging from 8%-15% if you were to pay the loan off within 30-120 calendar days. This is extremely beneficial for business owners who can invest in material, staffing, advertising, equipment, etc. and make a large gross return between 300%-500%. This way you are accelerating the growth of your business by taking on anywhere from $50k-$500k you can invest in what you need for a certain period of time and turn around and pay the working capital off at a much cheaper rate than if you were to drag out the entire term.

For merchants who cannot pay the merchant cash advance off early, the small business loan also remains beneficial because it can serve as working capital that keeps your own sweat money in your pockets while you are planting the seeds buying time for a more prosperous quarter by forecasting your growth plan. VIP Capital Funding serves 700+ industries but the concept usually remains the same across all businesses, and that is you need working capital to invest, you need to market to your clientele and lastly sell your product or service. There is a lot of planning and expenses involved but when executed correctly a Merchant Cash Advance backed by investor funding can serve of great benefit, as there are no strings attached and the capital is very flexible in what you want to use for your business. You’re not tied down by an investor who is taking a % of your gross or net revenue, it’s just you, a confident business owner with a vision to maintain or help grow your business to its ceiling. VIP Capital Funding’s expert financial consultants can help you right away to solve your financial business problems. Just visit vipcapitalfunding.com and fill out the web form or email [email protected]

November 6, 2020

Short Term-Mid Term Business Capital

VIP Capital Funding is a highly reviewed leading Fin-Tech Firm helping business owners obtain working capital to help your business grow.

Note: Because of COVID-19 we are only accepting $1,200,000 annual revenue minimum for the year and 600 minimum. We are doing our best to help everyone if you meet the requirements and tried getting funding before please reach out again. Due to heavy volume, it has been hectic.

Small Business Loans: Range from 6-12 months with interest rates from 10%-30%, mind you this is investor’s money so it’s going to be a little high investors’ want their return but hundreds of businesses we’ve helped have benefited from their capital significantly.

We are armed with aggressive under-writers who will make sure to reserve Merchant Cash Advance cash for you from our investors. If you have run out-of EIDL or the PPP loan, we are very confident in our ability to help you.

VIP Capital Funding’s Merchant Cash Advance Requirements:

*$1,200,000 Annual Revenue

* 600 minimum credit score

Loan Example:

*$150,000 annual revenue

*Total Payback: $194,0000

*Loan Term: 12 months

*Early Prepayment discount of 9% if paid off within 60 days

*Interest Forgiveness for early payment

November 6, 2020

One of the best ways to use a Merchant Cash Advance or Short-mid Term Business Loan that VIP Capital Funding can help fund you with

One of the best ways to use a Merchant Cash Advance or Short-mid Term Business Loan that VIP Capital Funding can help fund you with

Going right into the meat and potatoes of working capital made out by investors with terms ranging anywhere from 3-24 months is for the business owner to take advantage of the early prepayment discount that VIP Capital Funding has to offer. Why may you ask? Usually, a merchant cash advance has higher interest rates ranging from 20%-40% on average over the course of the term. That is a bit high, but it is also a tax write off just to add. But the point of this entire blog is to take advantage of the early prepayment discount ranging from 8%-15% if you were to pay the loan off within 30-120 calendar days. This is extremely beneficial for business owners who can invest in material, staffing, advertising, equipment, etc. and make a large gross return between 300%-500%. This way you are accelerating the growth of your business by taking on anywhere from $50k-$500k you can invest in what you need for a certain period of time and turn around and pay the working capital off at a much cheaper rate than if you were to drag out the entire term.

For merchants who cannot pay the merchant cash advance off early, the small business loan also remains beneficial because it can serve as working capital that keeps your own sweat money in your pockets while you are planting the seeds buying time for a more prosperous quarter by forecasting your growth plan. VIP Capital Funding serves 700+ industries but the concept usually remains the same across all businesses, and that is you need working capital to invest, you need to market to your clientele, and lastly sell your product or service. There is a lot of planning and expenses involved but when executed correctly a Merchant Cash Advance backed by investor funding can serve of great benefit, as there are no strings attached and the capital is very flexible in what you want to use for your business. You’re not tied down by an investor who is taking a % of your gross or net revenue, it’s just you, a confident business owner with a vision to maintain or help grow your business to its ceiling. VIP Capital Funding’s expert financial consultants can help you right away to solve your financial business problems. Just visit vipcapitalfunding.com and fill out the webform or email [email protected]

October 28, 2020

How to Get Capital Funding For The Flooring Business?

The flooring business is all the rage these days. It is considered a high-return venture and does well for its owners. The demand for flooring will always remain, not only for new homes but for old homes as well; whenever people decide to give their old floors a new look. So, that explains the reasons for its success as well as its popularity.

What is Flooring?

Flooring can mean a lot many things in today’s times. It can mean a hardwood floor, vinyl floor, flooring made of cork, tiles like ceramic, granite, stone, etc. and also the traditional mode of floorings like carpet, rugs, etc. New types of flooring keep popping up as new researches lead to the development of new and hybrid materials.

What is a Flooring business?

Flooring business is when you offer all and different types of floorings to prospective customers. You display various types of floorings at your showroom where customers can choose the ones they like. When purchased, you supply the flooring to the customers’ address, and if the customer so desires also install it there. So, basically, you sell, transport, and install the required flooring for your customers and that constitutes your business.

How much capital do you need for your flooring business?

This will depend on the proposed scale of your business. How many different types of flooring you intend to display in your showroom and whether or not you will transport them to the customers’ place along with installation etc.?

How to get capital findings for flooring business?

There can be two broad methods of getting capital funding for your flooring or any other type of business.

Debt financing
Equity financing

Let’s explore both of these concepts in detail now;

Debt financing:

Debt financing means getting a loan from somewhere to set up your business. It is one of the most common and most popular methods of raising capital. You can see that most businesses adopt this method and fulfill their financial needs. The lenders, in this case, can be;

Friends and family:

You ask your family members and personal friends for money. They may or may not charge interest from you.

Banks:

Banks can be both conventional and non-conventional. By non-conventional we mean those who focus on small scale businesses and provide collateral-free loans.

We at VIP Capital Funding are committed can also finance your flooring business to help it expand and grow. With our 95% approval rate of all the loan applications we receive, you will get your desired amount in your bank account in 1-2 days after applying for it. You can check the reviews section of our happy and satisfied clients’ at our website. You will come to know why we got 4.5 ratings at Trust Pilot. Under the stewardship of our Owner and Executive Managing Partner of VIP Capital Funding, Mr. Joshua Triplett we happily dole out money to the needy businesses that they can utilize as per their own discretion.

Angel investors: They can be a group of investors who have money to invest and are looking for avenues to park their extra funds in. You present your idea to them and they invest in it, provided them to find it attractive.

Crowdfunding:

Crowdfunding is when you sell your idea to random people over the internet and they respond favorably to your business proposal.

The lenders usually charge a rate of interest on the amount they lend and expect to get back their money along with interest. The amount is loaned for a fixed period of time and the rate of return also depends on the period of the loan. It is a business for them and they are not doing any philanthropy for you. It is a quick and practical way to raise money especially if you are a small business and do not want to raise a lot of money.

Equity financing:

Equity financing is when you give up part of the ownership of your business in exchange for the loaned amount. Equity financing takes place when the amount to be raised is big. The lenders also extend technical, administrative, and financial expertise to the debtor along with the money. This makes them a stakeholder in the business as they now want the business to succeed and grow. Equity financing is very popular in areas like the health sector, information technology, hi-tech industry, financial sector, etc. All these areas will benefit from this mode of financing.

Other modes:

You can also self-finance your business if you the savings or sell an asset to raise money for your business.

Conclusion:

We have highlighted two broad modes of financing for flooring or any other type of business for that matter. As the mode of financing largely depends on the nature of the business so we can conclude that debt financing would be a better choice of raising capital when it comes to starting a flooring business.

October 13, 2020

Everything to know about Merchant Cash Advance

No matter how you cut it, slice it, or dice it you will hear names from Merchant Cash Advance or Fin-Tech companies as Merchant Cash Advance being coined small business loans, small business funding, investor capital, and working capital. It is all the same thing, and this money is not bank money. It is investor money usually from people who are worth anywhere from $10M-$1B+ dollars with many of them being famous people. The investors understand it is a risky business investment with high reward, so the next time you see an interest rate of 40% or more, just know that the investor is taking a risk on your business, and instead of investing in something that will usually reap 5% or 10% the investor will be wanting 15% or more, then you have company and broker expenses.

This information above is valuable to anyone who is entering the fin-tech or merchant cash advance space as many businesses are still able to make a good profit by using the capital for hiring staff, purchasing equipment, or just general working capital expenses. VIP capital Funding however is a very experienced company that will not only give you the best chance of getting approved but will also go up to bat with the investors and lenders to give you the best possible offer. They do it better than anyone else as their reviews prove so. Their group of consultants has anywhere from 5-25 years of experience, and our mission is never trying to sell the business owner but help the business owner because when you run the numbers you will see a lot of times you are making a profit which will benefit your business and help it grow.

Joshua Triplett, Owner, and Executive Principal Managing Partner have almost a decade of experience in the fintech industry as he owns a leading firm with great reviews, he has a group of consultants who deploy strategies to help get the funds you want and need.

If you are interested in getting funds for your business, email, or call:

*Vice President Will Winston whose email is [email protected] | 919-521-8954

*Chief Financial Officer Kenneth Lewis whose email is [email protected] | 661-449-7305

*Senior Vice President Carlos Hernandez whose email is [email protected] | 919-300-0203

*Director of Risk Management Cheynne Chong whose email is [email protected] | 919-521-8451

Just know you are in good trustworthy hands with VIP Capital Funding as customer service and professionalism is top-notch, we are accredited by the BBB, and have spectacular reviews on Google, Best, Company, and Trust Pilot. Because of VIP Capital Funding’s success, every consultant breathes an air of confidence and certainty in helping your business get funded, grow, and prosper. We are dedicated, and personable as well which you will not see anywhere else. Communication and trust is very important to VIP Capital Funding. So if you need help getting your business funded with a small business loan, seek VIP Capital Funding, and we are sure to help you out.

September 23, 2020

Working Capital Helps Small Businesses grow 15%-30% annually

Let’s face it, 20% of small businesses fail within their first year and a total of 65% fail within their first 5 years. The last person you should blame is yourself if your business fails excuse it should be thrown out the window when running a small business. There is a lot of adversity and stress you have to handle on a day to day basis but blaming your failure on a small business loan is not correct.

Number’s don’t lie so let’s put this in layman’s terms and make it short and sweet. It doesn’t matter what industry you are in or the product that you are selling either. To succeed just like the 75% who are deploying capital you must make back $.75-$1 back for every $.75-$1+ you borrow.

If you fail you to do that there is no excuse is. You took your shot and failed, re-evaluate, and came back next time but as mentioned in previous articles. The recipe for success is a lot of trial and error, a lot of adversity, and being able to push through that builds character and confidence that leads you to the next bridge you cross in life.

September 17, 2020

Why should you use working capital to help grow your business?

There is a multitude of reasons why you should take on a working capital loan to grow your business but it all starts with cash flow as cash flow is king. It also begins with your risk tolerance and the speed in which you want to grow your business as well. If your business is in a trough, we will save that for later. So, let’s start with the first two reasons, cash flow, and risk tolerance. As a business owner you may be thinking my cash flow has been steady over the past few years but I want to increase my revenue and ultimately increase my net income, then there is a risk that comes to play if things don’t go right, you will have doubts of what if my product doesn’t sale quick enough or what if I can’t get enough customers to service. Well, you signed up as a business owner and an entrepreneur which was a big risk, to begin with, and any level of risk comes with a degree of failure or a degree of reward depending on the magnitude of the risk of reward.

My best advice in this is to follow your instinct and challenge yourself enough but not to the point where you can’t sleep at night unless you want that. Not everyone was meant to be Elon Musk or Jeff Bezos who operates with a large amount of risk and working capital. An injection of working capital will accelerate the growth of your business but everything needs to be calculated. For instance, if you are running an advertisement, you are going to need working capital for those ads but you will also need the employees to fulfill the needs whether it be product or service of the company.

In business, the fundamentals and concepts remain the same when it comes to achieving higher revenue and that is selling more of your product or service. Within those fundamentals and concepts in selling your product or service comes with more employees, more advertising, more management, more equipment, technology, etc. Although the reward will be higher the more you scale, the risk will be higher as well.

For example, your business has been doing $2,000,000 annually for the past 2 years. You want to increase this number to $4,000,000 annually, Whatever equipment, advertising, service, technology product, etc. that took you to get to $2,000,000 you will have to double down on that through calculating risks. We know as entrepreneurs there are risks but we push through that adversity because we want to achieve the reward. So, to wrap up the two segments of cash flow and risk, these are the two main reasons to use working capital to help grow your business.

Leading back to the third reason which was mentioned as your business being in a trough, where you are cash flow negative. You first need to strategically analyze your business on both the inflows and outflows of the capital. You don’t get many chances in businesses but an injection of capital to get you off a trough followed by a well-executed plan can help the start of the growth of your business.

September 15, 2020

If the funding will work, take it.

Further understanding of Merchant Cash Advance, so before reading this is an informative blog for people who get surprised by the term rates, but crunch the numbers and most of you will still do fine and make a profit. If it helps accelerate your business’s growth with the injection of the capital take it.

The Merchant Cash Advance industry has built a reputation for being reserved for businesses who are desperate for cash but this nowhere near the case,

Merchant Cash Advance is placed into 2 categories A-B Paper18%-30% interest on average

These are businesses with strong cash flow and a 600-640 credit score. The term lengths are usually 6-24 months pre-COVID and the amount of cash given is usually 80%-120% of the merchant’s deposit volume. In a recent report, 80% of business owners were satisfied with the capital received and showed handsome quarterly. Cost is usually the number one issue that comes to mind before taking on a merchant cash advance but if you have an investment opportunity planned that takes no longer than 6-8 months in which you will turn a profit on why not take it? You can’t go broke making a profit. Further, there are advantages that a merchant cash advance has over banks. One is that you can receive the money a lot faster, secondly, it is a lot more flexible, thirdly it is renewable, and fourthly there is no prepayment penalty. Remember we are not backed by banks; we are backed by investors who count on the merchant to use the money responsibly to help their business grow and not bite off more than they can chew by stacking beyond 3 positions. You can gripe about the cost which is tax-deductible, but if it helps accelerate the growth of your business if you were not to take it then take it.

C-D Paper 40%-49% Interest on average:

This paper is reserved for merchants with a sub 550-590 credit score. Usually, these merchants hit a trough and need to get out, and can’t find funding anywhere else. This isn’t the end all be all for the merchant and in a recent report, 72% actually benefited from the capital. Remember this is small business investor capital with profit margins being a lot higher than mid-size companies. With that said under the correct allocation, the money deployed can benefit the businesses’ s growth.

Bank Term Loans:

It’s not all roses and daisies, from my half of a decade of experience with thousands of applications only 1% was approved for a 10-year SBA at 8% APR. Do the math and that is 80% over 10 years. The other 5% were approved with 3-5-year loan terms with 10%20% APR. Do the math and we are talking near 50% as well. Both with no prepayment penalty. Capital rarely cheap whether it be by the banks or by investors.

September 10, 2020

How to get a Low Small Business Working Capital Loan Interest Rate

Ever since the COvID-19 Pandemic of March 2020 VIP Capital Funding has been hard at work helping small business owners obtain federal working capital loans at low interest rates. These products include the PPP (Paycheck Protection Program) and the EIDL (Economic Injury Disaster Loan). I Joshua Triplett being the Owner and Principal Managing Partner has experienced first had in the trenches of the struggle that small businesses have been facing. Several small businesses first don’t know where to start in applying, and secondly have no clue what to do during the funding process. Some $700 bullion was printed but there was no clear direction for small businesses to apply. VIP Capital Funding has been solving massive financial problems in the market place by representing small business owners by pointing them in the right direction for the Paycheck Protection Program (PPP) and hand holding the business owner throughout the EIDL process. You would be surprised as many business owners are in their 50s and lack the technological savviness to operate a PC. With that being said VIP Capital Funding has helped 100s of small business owners with low interest federal backed loans. We are extremely professional, confident, and personable at what we do; hence the great reviews we have been receiving.

Despite the low interest small business working capital we have been helping business owners get, they do have to fit the criteria in which I will outline both. Starting with the Paycheck Protection Program (PPP) one must have at least 1 employee and do $10,000 or more in revenue. Credit score is usually not an issue here. There is a 10-month deferment and it is forgivable as long as you are using it for payroll and mortgage/rental.

Next we have the EIDl where approvals range from $100,000-$150,000 on avergae. There has been a lot of fraudulent activity in this category so you will be asked a lot of times to confirm identity such as License, EIN Letter, Articles of Incorporation and Operating Agreement, along with the front and back of your driver’s license. This gives the loan officer proof that the money you will be receiving is going to a legitimate for your business. As mentioned in the reviews VIP Capital Funding has done an excellent job in the sales process by making sure all necessary documents are scheduled in and approaching the SBA representative relentlessly to get business owners funded. As per the terms of the EIDL, it is a very good loan despite it being unforgivable. It is a loan between $100,000-$150,00 on average with a 12-month deferment re-paid back in 30 which makes for a very cheap monthly repayment. Along with this to as per my knowledge early payment discount applies after 3 years. With it being a 30-year repayment, this gives business owners plenty of time to put the deployment of capital in great places to prosper.

With both loans combined this has been able to prop up the economy tremendously as business owners have capital to be put to work and slowly but surely employees will return to work as normal. If money ever grew on trees this is the first time in American history where money was stimulated into the economy at a magnitude where it was as if money did grow on trees. The next step for the economy is to get back to business as usual.

At VIP Capital Funding, our mission is to empower small businesses by providing them with smart and secure financing solutions. We are fully dedicated to delivering world-class service to our clients, ensuring their business growth objectives are met.