When thinking about the fundamentals of a successful business, most people overlook the importance of financing. Financing is one of the most crucial elements a company needs to have long-term success. Getting loans from traditional lenders can be challenging, especially for those with credit issues or no collateral to offer. We’ve assessed and collected 5 different modern financing options for your business to utilize.
Top Financing Options for 2021
Clearbanc
Clearbanc is the world’s largest eCommerce investor, investing $1.5 billion into over 4,000 different E-Commerce businesses. They work with Authorize.net to help provide businesses with loans and get paid back based on sales generated, plus a fee. Clearbanc is a great option for small businesses as they do not take equity or personal guarantees. They can invest between $10,000 to $10 million into your business depending on the size. Clearbanc can also help you pay for inventory, allowing you to pay back after it sells.
Stripe
Stripe is an easy-to-use online payment processing platform. It allows businesses to send and receive payments via the internet. Stripe was founded in 2010 and has grown globally with some of the world’s biggest companies using it as their preferred payment processor. Stripe makes it easier for vendors to start and build an online business by building a set of products that saves them hours. Utilizing Stripe allows you to take payments from credit cards and transfer those payments into your company’s bank account within seconds.
Payability
The specialty of payability is their capital advance. Payability can fund your Amazon, Shopify, and other eCommerce stores with capital advances of up to $250,000, with no credit checks, hidden fees, or complicated paperwork. Payability remains one of the largest and fastest-growing eCommerce financing options with over $3.5 billion of growth capital deployed.
PayPal
PayPal is an all-in-one payment solution that allows your business to reach millions of online shoppers worldwide. As a merchant, PayPal easily allows you to accept credit cards for your eCommerce. You can also transfer money to friends and family within seconds. It’s one of the safest and most secure ways to accept payments from your buyers. Additionally, those with an eCommerce store should consider using PayPal Checkout as it converts about 85% higher than a checkout without PayPal.
QuickBooks Capital
QuickBooks Capital is a service that provides business loans to eligible recipients. It’s a great financing option for small businesses as QuickBooks Capital reviews all your business’s attributes and overall performance to effectively fund your business. Using this service helps grant you access to a variety of credit offerings such as peer-to-peer loans, small business administration loans, and short/long-term loans. When applying for such loans, Quickbooks will analyze your business and banking transactions along with personal and business credit reports. Taking in all this information, they can create a 100% customized loan for you. QuickBooks Capital also makes it possible for business owners to compare rates across various options without hurting their personal credit score.
Helping You Pick the Best Financing Option
Business owners already have a lot on their hands. The stress of finding and choosing the right financing option for your business just adds to the hardships of starting a company. At Agile Planners, we work alongside you to take care of your CFO services allowing you to focus on running the big picture aspects of your business. For those who need assistance financing their business, contact us today to see how we can help.
