Commercial Financing Helps You Strike While the Iron Is Hot

January 20th 2019 at 10:05pm Published by sharpshooteradmin

commercial financing

At SharpShooter Funding, we’re the financing experts for small and medium-sized businesses. We provide excellent service and varied solutions that cater to a variety of needs for such enterprises. We’re also proud to partner with Canadian wrestling legend, Bret “The Hitman” Hart

Like The Hitman, we believe that small businesses drive the Canadian economy and could benefit from more access to a private funding company that focuses on partner relationships and is powered by cutting-edge data science and the latest technology.

One of the invaluable services we provide is commercial financing in Canada by giving an influx of capital to rapidly growing small businesses. We believe that small businesses that have a forecast of strong cash flow and need money to take advantage of fertile market conditions, should strike while the iron is hot. Here are a few signs that commercial funding can transform your business into a larger and more robust company:

#1 Your Capital Can Barely Keep up with Growth

While you’re pleased by how fast your business is growing as you launch new products, hire more employees, and develop new business partnerships, your financial cushion is shrinking. If your financial forecast is strong but your current foundation is fragile due to a spike in operational costs, then you may need commercial financing.

#2 You Have More Business Than You Can Chew On

If demand is so high that your customer service or product quality is spreading then, then you may be getting more business than you can manage. If you have a sound expansion plan, then instead of scaling back your marketing and sales while you wait for a big bank to finance you, let SharpShooter Funding have a look at your books. We have a high approval rate and give funds quickly. You can use the extra capital to upgrade your location, hire more workers, or invest in other growth opportunities.

#3 You’ve Been Making Profits Consistently

If your net income has been regularly positive for a year, then your company could be ripe for expansion. Regular profits don’t last forever, so it’s important to focus on long-term success by growing your profits through expansion.

#4 Your Industry is Expanding

It’s a good sign when your industry is growing. This could mean that your investment in your growth will pay off. According to IBISWorld, some of the fastest-growing industries in Canada include cannabis production, telecommunications manufacturing, e-commerce, foreign currency exchange services, coffee & tea production, transit vehicle manufacturing, cosmetic product manufacturing, men and boy’s clothing manufacturing, heat & air conditioning equipment manufacturing, and concrete pipe & block manufacturing. Another rapidly growing industry is the clean-energy sector.

#5 Your Regular Customer Base Is Expanding

If you have a growing base of regular customers, then that means you have recurring revenue. And if these regular customers are demanding more products and services that you don’t have the resources for, then it may be a good time to invest in your growth. 

#6 You Have a Responsible Team

It’s important to have a staff of accountable employees who can manage the day-to-day running of your operation, allowing you time to focus on expansion. If your company can’t run a day without you, then you may need to wear multiple hats to make your growth ambitions successful.

#7 You Have a Plan for Your Growth

If you’re ready to grow, then you should have strategies in place to help you manage and invest your new capital in new inventory, equipment, or renovation. You should also have your market research in place and identify partnerships that you need to leverage for your expansion.

Typically, commercial funding is used for the following expenses:

  • Hiring and paying new employees to help you keep up with the increasing demand
  • Paying your new team until your profits grow
  • Training your staff to manage new responsibilities
  • Buying new supplies at discounted prices in bulk to sustain your growth
  • Buying new equipment that allows you to increase your volume
  • Marketing your company to further increase demand for your goods and services

If you go to a big bank for financing, you may have to wait 20 to 30 days for your application to be processed. What’s more, funding can take anywhere from 30 to 60 days. And if your business lacks a long history, collateral, a good credit rating, a huge profit margin, then you could be rejected at the end.

On the other hand, with SharpShooter Funding, you can be approved on the same day through a prequalification process where all industries are accepted. Moreover, funding is provided in 24 to 72 hours. At SharpShooter Funding, we don’t overly rely on traditional metrics. Instead, we base our decision your business’s health. The best part is that we approve over 75% of the businesses that apply for funding.

We Can Also Approve Applicants with Bad Credit

You may feel hopeless if you’re credit score is between 300 and 629. Usually, traditional funding options make such applications jump through hoops before eventually rejecting them. At SharpShooter Funding, we believe that small Canadian businesses deserve a chance.

  • If your personal credit is better than your business’s credit, then you can leverage this to get approval
  • If you a strong cash flow but poor credit, then you can put cash down to secure funding
  • You can try applying for a smaller sum and use that to finance your immediate needs and improve your credit
  • You can also leverage your assets such as future transactions to be approved for funding

We Also Offer Unsecured Business Funding

The disadvantage of putting up collateral or putting down cash to qualify for funding is that you will lose this should you be unable to meet the terms of the funding agreement. For businesses that don’t want to take the risk, or simply lack the collateral, SharpShooter Funding offers unsecured business funding to help meet payroll or other operational costs in a pinch. 

Unlike a bad credit role, this funding isn’t based on your assets. Instead, it’s based on your credit. We provide unsecured business funding to companies that can have the ability to pay off their funding based on their expected profit. Aside from being less risky, unsecured business funding are easier and faster. They also offer you more flexibility as they’re not based on fixed terms.

Whether you need commercial financing, an unsecured business funding, or fast and secured funding to help build your credit, you can turn to SharpShooter Funding. Our application process is easy and it’s quick. Unlike the big banks, we try to see your business’s potential.