BROOKLYN, NY–(Marketwired – Jul 16, 2014) – In the city that never sleeps, speed is the measure by which most accomplishments are measured.
But no matter where you live or work, speed — especially the speed to accessing capital in fewer than 24 hours — is essential for small business competitiveness and success. While recent news reports focused on the U.S. economy’s sluggish 2014 start, little attention was paid to equally important positive indicators: May consumer spending increased, automobile spending surged, incomes increased for the fifth month in a row, and the savings rate reached an eight-month high. Best of all was June’s robust jobs report with 288,000 jobs created as the unemployment rate ticked downward to 6.1 percent, the lowest since September 2008.
To many economists, this is a strong signal that the post-recession recovery continues and is likely to gain momentum. It also means that consumers have money to spend. If small businesses aren’t planning ahead, they may be unable to meet that pent-up demand. Key to that expansion is securing the business loans needed to grow a company as fast and efficiently as possible. That’s why Advance Funds Network (AFN) is committed to helping small and medium businesses across the country secure business loans. Doing so allows businesses to cover their overhead, pay employees or purchase equipment that can help expedite production lines. Securing a $600,000 loan in less than a day is well within their capabilities.
Protecting the U.S. Economic Backbone
As the U.S. economy continues to find its stride, it’s important to stress the value of $600,000 business loans. Manhattan may be home to big businesses, but small and medium-sized businesses form the backbone of American economic health. According to U.S. Census data, 90 percent of U.S. firms employ fewer than 20 workers, while firms with fewer than 500 workers make up 99.7 percent of the nonfarm workforce. To call small and medium businesses in America the backbone of the economy is almost an understatement. For these businesses, often $600,000 is the difference between keeping the lights on and closing up shop.
“There’s a reason we use the word currency as a synonym for money or cash. From the root word ‘current,’ money, like a river, is supposed to flow through the economy,” said Douglas Haddad, the company’s managing director. “By providing much-needed funds without the hassle and red tape typical of banks, Advance Funds Network ensures currency flow rates don’t slacken. By lubricating the wheels driving American business, we help the U.S. economy grow larger and faster, proudly doing so from the bottom up one client’s business at a time.”
Whether it’s funding $5,000 or $5 million, Advance Funds Network can secure businesses the credit lines they need to expand their business (provided your business has a minimum $10,000 average monthly sales, among additional easy-to-meet criteria). Repayment is possible through fixed payments on set intervals including, daily, weekly and monthly schedules, or a percentage of sales, a percentage of credit card sales or a combination of each. Generally, the terms are usually repaid in six to 24 months.
