Alternative Financing Options for Small Business Owners and Self-Employed Individuals

 

As a small business owner or a self-employed individual, finding the right financing options can be a challenge. Big banks may not offer the flexibility or rapid funding you need, but don't despair - there are alternatives. Let's explore some of the options available to you.

Small Business Capital: For small business owners seeking capital, there are a variety of options available. Many alternative lenders offer flexible terms and competitive rates, as well as quick and easy online applications. Some lenders may not require collateral, and can even provide funding in as little as 24 hours. These options can provide the capital you need to help grow your business, hire more staff, or invest in new equipment.

Gig-Worker and Self-Employed Funding: If you're a gig-worker or self-employed individual, traditional lending options may not be available to you. However, there are still options to help fund your business. Some lenders offer financing up to $50,000 with no credit check and a simple online application. This can be a great option if you need quick access to funds, whether it's to cover expenses during a slow period or to invest in your business.

No Fee Payment Processing: Payment processing can be a major expense for small businesses. However, some payment processors offer no monthly fees and the ability to save up to 40% on credit card processing fees. With a free secure online payment gateway, you can seamlessly accept payments from your customers without breaking the bank.

In addition to financing options, it's worth mentioning the Employee Retention Tax Credit (ERTC). This tax credit has been expanded and extended to help small businesses affected by the COVID-19 pandemic. Eligible businesses can claim up to $26,000 per W2 employee, making it a valuable resource for those struggling to keep their businesses afloat.

In conclusion, small business owners and self-employed individuals have various financing options available to them. Whether it's capital for your growing business, funding as a gig-worker or self-employed individual, or cost-effective payment processing services, alternatives to traditional lending are out there. With help from licensed CPAs, you can even determine your eligibility for the ERTC. Don't let funding and financing hold you back - turn to alternative lenders and payment processors for the help you need.