Emergency cash for small business purpose
Well, I know that you are good at financial planning and most time your cash flow is positive and what you only need is to get profits from your business into your bank account. That’s great way to do business, but there also might be some cases when the new project need to be started, new marketing method need to be checked or you just found great man to hire with great skills.
There are some cases when your cash flow might be negative and you might spend more than you earn, but actually it is not bad, it is great situation, as I believe in three months or less you will have a great improvement with your sales.
The biggest problem you might face is that you don’t have enough cash to run the idea you have. Sure, you can go to the bank and get some money out of there, but as we know bank credits are expensive and might take long time to get.
What you will do if today is holiday and you cannot go to the bank? Or if for some reason bank don’t want to provide you with loan? In the time of Web 2.0 there are some new online services for cash loans, if you do business online, invest money online and get profits from online business – why should you go to the offline bank to get a loan? Online services are not so complicated and will be inexpensive. They do their business faster with lower rates. So, it is good idea to try.
Another situation that you might face, there might be some bill you need to pay, if you won’t pay them on time you will have a bounced check. Sure, these people cannot wait; it is their business to get money for your on time. They don’t know anything about you or your business, they don’t know anything about cash flow you have, so the best option for you is to pay and pay on time. With Payday and ThinkCash you can pay money in this way, when ThinkCash’s rates are lower I’d prefer this company to pay installment loans.
Finally, the best idea is to have a good financial plan, which will take your business to the next level. While it is important to have positive cash flow, it is also important to measure and control your financial performance.
