5 Reasons Why You Should Consider a Business Cash Flow Loan

5 Reasons Why You Should Consider a Business Cash Flow Loan

By- Victor Talha

June 3rd 2014 - Business Cash Flow Loans - Kansas City - OCM Financial Group Small businesses and/or start-ups are heavily reliant on their cash flow…

…as they often have difficulty regulating what comes in and out on a regular basis but it’s also not uncommon for mid-sized businesses to run into difficulties that require a business cash flow loan. Here are some reasons that you should consider getting a business cash flow loan for your business.

1. Bank Loans are Harder to Get.

The recession hit the nation hard and changed some ideas about borrowing and lending. Cash flow loans are easier to get than traditional bank and business loans and don’t have the same requirements for credit.

2. It Doesn’t Require Collateral.

A cash loan is different because a business can use it for working capital and generate the collateral for the loan over time.

3. It’s an Opportunity to Organize.

Many cash flow providers request to see cash flow charts and collect data about a company’s banking, payment processing, and accounting information before acceptance. If your finances are not completely organized before you go in to ask about a cash advance you should take the opportunity to balance your books and get on top of the situation. Plus, you can get comparative ranking information from your loan provider.

4. The Interest Rate is lower than You Think.

Many people think that the interest rates for a cash advance may be up near 50% but the actual rate is consistently below 30%. Right now businesses are trying to encourage lending and the average has moved even farther down towards 20%.

5. It’s also Less Risky than you Think!

There are a lot of misconceptions about borrowing cash advance loans, especially from misuse in people’s personal lives. Businesses can use this money responsibly to make ends meet, expand for better customer service, and balance their cash flow. At OCM Financial Group, we understand the unique reasons you may have behind obtaining your business loan. Allow us to meet your needs with one of our custom cash flow loan products. Your approval is just minutes away!

The Neighborhood was Saved by a Merchant Cash Advance

The Neighborhood was Saved by a Merchant Cash Advance

By – Raquel Ellen Donate

Merchant-Cash-Advance-OCM-Financial-GroupNot too long ago, our neighborhood was almost without a pizzeria! Thanks to a smart and savvy local chamber of commerce member, the neighborhood was saved by a merchant cash advance. Sounds like this was no big deal, right? Well it may not be a big deal where you’re from, however, in my neck of the woods, we don’t care too much for the big name pizza franchises. Instead, we love our Romano’s Pizzeria, so much so that me and my family have been eating here since our grandfather’s time. Now, thanks to a merchant cash advance, our favorite pizzeria and Italian restaurant was saved from having to close it’s doors.

We are not certain what went wrong, however we are sure this deep recession did not make matters better.  After a few slow seasons, the owners had to put up their house in order to get a small loan to survive the dry spell on business. The recent harsh winter season was another nightmare along with broke down ovens and a few other essential items needed to run a successful eatery. After the winter was over, our neighborhood was in such dismay. Rumors had spread like wildfire stating that the owners of Romano’s were calling it quits! Let’s just say, everyone from the children all the way up to our grandparents were stricken with disbelief at the thought of losing everyone’s favorite pizza joint since the late 60’s. Some folks even set up a charity donation box. But it was just a drop in the bucket compared to the almost 6 figures it was going to take to save Romano’s.

Then one day, at a local chamber of commerce meeting, a gentleman was there from OCM Financial Group doing a seminar about how banks are getting tougher and stricter about lending any money out and how OCM Financial was able to get business owners the money they needed in less than a week! Attending this meeting,  was one of the owners of Romano’s. Quite serendipitous to say the least! Soon after the presentation was over, the business finance specialist was passing out his business cards when the Romano’s owner asked if he could apply for a merchant cash advance to save his restaurant, and the rest, as they say, was history. Less than 6 days later, Romano’s was able to order a new oven and fix the broken one.  Success! Neighborhood pizzeria saved and the tradition lives on!

How Much Working Capital Do You Need for Your Business?

Working-Capital-Business-Cash-Advance-Loans-OCM-Financial-1

How Much Working Capital Do You Need for Your Business?

As any small business owner knows, you need to have a sufficient amount of working capital in order to effectively carry out your company-related endeavors. By definition, working capital is the amount by which your assets exceed your liabilities. But how can you determine the amount of working capital your particular business needs?

For starters, the amount of working capital your business needs should be (at the very least) sufficient enough to pay your business expenses. Should you be thinking about a profit? If you are starting out, then you shouldn’t worry too much about profit just yet. It can take a few years to accumulate enough cash flow to surpass your basic payment needs. But you should, however, be thinking about how you will pay your immediate expenses.

Overall, you should determine what your fixed costs are (rent, utilities, payroll, taxes, etc.) then add at least 10-15% extra to cover any miscellaneous costs. It’s always good to give yourself a cushion because you never know when you might find yourself in a sticky situation.

Figuring out how much working capital you need also depends on whether your clients pay you immediately or if you offer a grace period. In that case, you need a greater amount of cash reserves to account for any delay in payment.

But if ever you do find yourself exceeding your limits, you don’t necessarily have to panic.

The OCM Financial Group helps small business owners obtain the cash flow they need when they need it. Think of our company as the other cushion that will break your fall when your liabilities exceed your assets.  If you need working capital today, give us a call so we help you keep your business running effectively.

 

Small Business Owner Shares Get Approved Business Cash Loans Info

Small-Business-Cash-LoansDuring these current times of financial instability and economic volatility, it’s refreshing to know business owners have business cash loans options available, still. Although traditional banking has been a strong foundation for most businesses in America and just about anyone with a strong business plan, collateral,  and verifiable references could secure a small business loan. Not so much the case anymore. To truly understand how tough it is out there, currently, we turned to the most reliable sources, our present applicants, to gather real life information on the current status of small business owners trying to obtain business cash loans.

Here’s a case in point, take Joel M. for instance. Joel has an extremely amazing business model that not only helps kids stay out of trouble, but Joel’s company actually helps inner city youth discover all there is to know about the NFL! Kids in grades ranging from K-12 and college level get to train with the pros and through rigorous training modules get a chance to be considered for recruitment. Pretty amazing working with kids and keeping them off the streets, right? Well, you’d imagine any bank would gladly see Joel’s business as a sound investment. Even besides the fact, Joel only needed to borrow approximately $8,000 to $10,000 USD for purchasing training equipment for his students. Going to the two banks he has investments in, turned up denied bank loan applications. When a family friend told Joel about the OCM Financial Group Facebook page, Joel searched immediately for the contact number. Soon enough, after speaking with a Financial Advisor and pinning down a few sound options, Joel was enjoying his $10,000 business cash flow loan. Payback terms were generous and will be easily managed. When asked if he would refer OCM Financial Group to his friends and family, Joel replied, “I will tell the country about your company. Thanks so much for saving my business, helping my kids get their sports training equipment, and helping me meet my business’s growing financial needs!” Another success story!

To view a related video on Business Cash Flow, click on link below: