It can be tougher than you think to get a small business loan, especially if you have a bad credit rating. Did you know that 45% of small-business loans are denied because of insufficient credit scores? You could still get approved for a loan in order to gain much-needed capital for your business, but you might be stuck with much higher interest rates. If you’ve ever had credit problems in ...
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Whether you've recently started a business or you’ve been in business for years, there are tons of questions that come up, especially when you're thinking about growth and whether or not you need a business loan. Some of these may apply: Have you taken out any business capital loans? Are you financing equipment? Are you leasing a business space? Are you paying vendors for supplies and services that enable you to ...
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What exactly is working capital? It’s a term used for measuring your company’s short-term financial standing and operational efficiency. In this article, we’ll discuss how to calculate your working capital, as well as strategies for keeping it at ideal levels. The goal is to improve financial stability for your company and possess enough cash to cover your expenses. We’ve compiled these 5 steps to help you increase your working capital: 1.Evaluate Your ...
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It was a little over a year ago when Ray Gonzales of Raven Concrete LLC reached out to Main Street Business Capital for financing help. Raven Concrete is based out of Glendale, Arizona and offers a variety of concrete and demolition services. Ray owns the company along with his brother, David. They were in desperate need of new equipment when they turned to Main Street Business Capital. “We were in ...
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Whether you are a brand new business looking to stock up on new equipment or an established company ready to add more pieces to your collection, figuring out how to finance the equipment can be difficult. Should you buy or should you lease? While there are some pros to buying equipment, we at Main Street Business Capital find that those pros don’t outweigh the cons. Having to deal with maintenance, repairs ...
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At Main Street Business Capital, we understand how difficult it can be to purchase new equipment for your business directly out of pocket. That is why we offer equipment financing to companies looking to expand and grow their business. Here’s how we helped our client, The Foundry, obtain the equipment they needed to see their business thrive. Based out of Seattle, Washington, The Foundry is a progressive clothing company that is ...
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Employees from Main Street Business Capital, a leader in small business lending, volunteered to be part of a recent surf day event for children with special needs. Run by the Best Day Foundation, the beach day took place on Saturday, October 8 in Seal Beach, California and was the final event of the year for the organization’s Orange County chapter. Over 100 volunteers came together to make the surf and water ...
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Many small businesses rely on a specific time of year to provide a spike in revenue. Oftentimes, it is toward the end of the year, during the holiday season. If your business is dependent on a seasonal surge of income, it’s important to implement a cash flow management strategy that addresses these fluctuations. It can be difficult to maintain an annual budget when a majority of your business capital comes during ...
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Things have changed in the past decade. After significant financial crises, regulations have become more and more strict in the lending industry. Such factors like the Dodd-Frank Wall Street Reform Act and the Consumer Protection Act have drastically altered the banking landscape in recent years. Unfortunately, because of problems caused by big corporations, it really has made it harder for small businesses to get capital loans. In the past, lenders built ...
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Main Street Business Capital, a leader in financing small business loans, is committed to supporting veterans, starting with one of its own employees, Systems Administrator Kristopher Gomez. At Main Street Business Capital, Gomez handles a variety of IT duties and makes sure the company’s systems work properly every day. But prior to working at Main Street Business Capital, Gomez was proudly serving in the United States Marine Corps for eight years ...
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