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

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 u2013 and not burn itself out too early to succeed at scale.<br>

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

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

  2. 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.

  3. 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.

  4. 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?

  5. 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.

  6. 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.

  7. This is where a cash advance financing business like Cresthill Capital comes in: CresthillCapitalis 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.

  8. How Can These Companies Help Me Fast? • Cresthill Capitalreviews 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.

  9. 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.

  10. 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.

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