All startups regardless of the industry to which it belongs have one thing in common – it needs funds for starting as well as running the show. While the funds required for generating the initial inertia during the start is essential, it is equally vital even after takeoff. In fact, the latter requirement could turn out more important because the inability to pump funds into business on an ongoing basis can make it suffer. Lack of funds is any business owner’s nightmare, and once you have set it going, it would hit you very hard to see the prospects fading. Depending on the nature of the business, you have to explore all options for funding, from traditional lenders to alternative lenders as well as alternative methods like crowdfunding. For ongoing funding, explore the model of revenue generation that could provide direction.
Are Commissions the main revenue for your business?
If your business earnings depend heavily on commissions, then the options of funding get quite restricted. The traditional lending sources like banks and financial institutions are not too keen to place their money in such businesses. Alternative lenders are your only option, but it could still pose other problems because the rates of interest are very high. Unless you can arrange for funds at low interest, it does not make sense. Although it might seem that you have exhausted all your options, there is still good hope because you have yet not explored the last resort. Yes, we are talking about commission advance like the types offered by NPC commission express. Keep reading to know more about the method that would help you to take a well-informed decision.
Advance commissions provide a lifeline to business
When you are struggling to figure out what would be the best funding of your commission based business, the offer for advance commissions would appear irresistible. And, truly irresistible it is because you can speed up the process of collecting outstanding payments that converts the earning into funds that you can use for business. Timely availability of funds injects new life into the business as cash flow eases and you enjoy better liquidity. The quicker you can put back the money in business better would be the growth prospects. Some companies exclusively offer commission advances, and you can tie up with anyone to achieve your goals of the business.
Use your business credentials for securing advance commissions
Whether you are in the travel business, insurance or real estate, if you earn commissions which is the only or major source of revenue, you can qualify for advance commissions. You have to convince the lender with documentary evidence that you have a firm deal executed but awaiting the commission after some time and make them agree to buy the commission at a discount. You can avail the majority of your expected earnings from the deal while the little amount that remains would come to you once the deal closes.
The best part of the arrangement is that it involves neither any credit checks nor security deposit to get the money.
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