Open Collaboration Meets Professionalism – A Tour of the CDL facility

Sequel to the official inauguration of our Corporate Head Head in Lagos, Tech Africa Team visited the office for a tour on the facility. They were introduced to different divisions and Units in the company including a visit to the Ladi Balogun Theatre. The facility has all the amenities of work space that encourages work life balance. A state of the art gym and relaxation lounge.

Click this link to read the complete- https://techpoint.africa/2018/10/17/credit-direct-limited-new-office/ 

#Creditdirectlimited #emergencyloans #quickloans #onlineloans #paydayloans #Money #Alert #Sharpsharp #Collateralfreeloans #NoCollateral #Noguarantor #Noaccountopening #Nopreliquidationfee #quickcash

 

Rules to handling your personal finances

A hungry man is an angry man, same applies to a wealthy man is a happy man; Your financial situation reflects your total well-being and how best you perform depends largely on how well you take care of yourself. The same way you take care of your body is the same way you are expected to take care of your finances and this should be a priority of your thoughts.

We all have our ways of life and directions in handling things. We grew up with habits defined by our cultural lines but when it comes to finances, there are standards that we all live by. Just like you have regular checkups and dates with the doctors you should also have time to reflect on your financial health. There is structure in financial management and there are a lot of things to do to ensure we stay financial literate. We have laid out 4 basic personal finance rules that can guide you on starting out:

Getting multiple streams of income

Back in the day it was strange to have multiple streams of income. People were ok with just one job and all that came from it. Your salary was just enough to sustain you all month but the truth is there is no security in one stream of income. The economy is tight and it makes it almost difficult to sustain on one income. You should therefore set up a side business that would support your regular income. This can help you fund your lifestyle and hey! if you need a loan for it, Credit Direct Quick cash Loans have you all covered.

Your Salary and Your savings are totally different

Your salary is what you get paid when you meet the set expectations of your employer but your savings is what pays you. You work today so you can get paid, so also you save today so your future is secure. No matter how you procrastinate, your lack of savings today would dent your happiness in future; It would always certainly catch up with you. Imagine how you would have to explain to your children in future how you failed to save. The key to financial security is setting aside a certain portion of your salary now and planning for the future

Companions

“Birds of a feather flock together”… If you hang around loose spenders, you would end up with holes in your pockets. Cut your coat according to your cloth. It means live within your means. No matter how you try to fake it, you are not it. If you know you cannot afford a particular lifestyle then you must not continue faking it cos you would end up in debt and attendant issues. Don’t live for others, never stress to impress anyone and always stay in touch with reality.

Impulse buying

A lot of us are guilty of this. We buy what we want and not what we need. Some people have 4 sets of the same shoe type in different colours. Most of us rush to buying expensive “Aso ebi” for weddings when we really don’t need them. We live to impress people daily and end up running down our finances. To manage your finances, you need to reduce spontaneous buying to its barest minimum.

If you judiciously adhere to this step by step process, you would certainly build a good savings habit and progressively grow your finances. Well, with Credit Direct Limited, you are guaranteed PEACE OF MIND. We grant Quick Loans without collaterals in few hours and you can get Fast loans online to enable you start off on your new stream of income. Pay bills and live a good life with our low interest loans.

Call our lines 01 4482225 or send an email to cashtogo@creditdirect.ng. Loans available for salaried employees only

Quick Loans, Emergency Loans, Fast Loans, whatever your needs, we have it. Contact us today

What Do You Know About Quick Loans…. 1

While applying for a loan from a bank, it’s essential that you know certain information, both for personal awareness and so you can educate other potential borrowers.

A loan may be considered as a sum of money advanced by one or more individuals, organizations and/or other entities to other individuals, organizations or entities to enable them meet certain planned or unplanned events. The borrower is often required to pay back the loan, usually along with interest charged over a stipulated period. Most of the time, the lender bears the risk that the borrower may not repay a loan even though this risk is often skillfully managed.

There are several types of loans given by various financial institutions and these may be Secured loans or unsecured loans.

Secured loans are protected by collateral that serve as a guarantee for the loan amount. Valuable assets are put up as collateral and these assets serve as security in case of a default.  A borrower may consequently place a home or other property as leverage to guarantee that they will repay the loan at the agreed duration and the lender puts a lien on those assets until repayment is done. If the borrower defaults on the loan payments, the lender can claim the collateral and sell it to recoup the loss. This is why when you apply for a secured loan the lender will want to identify which of your valuable assets you plan to put up as collateral.

Unsecured loans on the other hand are loans that do not involve any assets as collateral or security. They are mostly personal loans, quick loans and short-term loan which have no guarantees attached to them. Such loans are usually given on the basis of a borrower’s credit record and financial position. As these loans are without collateral, some financial institutions do not venture into them and for those who do, the approval process for such unsecured loan are typically lengthy, but definitely not with CDL.

Some eligibility criteria considered before you can access unsecured loans of your preferred amount are your credit score, the authenticity of your employment and other documents applicable to the Know Your Customer (KYC) policy.

It is also advisable that while considering a loan facility you make sure the institution providing such a loan has Payment Protection Insurance. This ensures the principal repayment of your loan in the event of any unforeseen circumstances so that no burden is passed down to your Next of Kin. Credit Direct Limited has this adequately covered on all our loan packages. The family of a loan beneficiary receives an amount as part of this legitimate claim if the borrower dies before the loan is fully repaid and such a loan is also fully cancelled.

At Credit Direct we provide a variety of unsecured loans, (Quick Loans, Payday Loans, Collateral Free Loans, and Emergency Loans. We have a reputation for fast loans without collateral, quick turn around time and low interest rates…

Watch out for the 2nd Part in the coming week.

Cheers.

 

Learn How and When to Take Loans

Sometimes we simply get overwhelmed by our numerous responsibilities and cannot control our personal financial needs which is why we take loans from friends, family members, financial institutions etc. – and as financial integrity demands, we should return what we have borrowed. All the same, there are factors that you might want to consider when taking loans.

  1. Liquid Asset/Available Money

The first thing to consider is how much you currently have (readily available) and how much will you continue to have (again, readily available) over the period of time it will take to repay the debts. This is usually influenced by the flow of money from your sources of income. It is important to know how much cash you have or will have at hand, because your available money will affect the debt repayment plan.

  1. Understand the Terms of the Loan

Every Legal Agreement comes with its rules and guidelines. It is important that you fully understand
the terms of your loans – and not just understand them but be faithful to them. Don’t assume but instead recognize where there are penalties for some actions. Keeping to the terms encourages your lenders to trust you and in turn, improves your chances of collecting another loan in the future.

  1. A Repayment Plan

In movies, every spectacular jailbreak or elaborate sting operation begins with the famous white board. A game plan. The need for a repayment plan cannot be exaggerated. It might require some strategizing and negotiation, but by all means create a way to pay your debt back.

A repayment plan helps ease you into repaying your debts. If you agree to spread the repayment over six months and you realize that you will be unable to keep up, it’s better for you to renegotiate the plan rather than to put yourself under pressure only to defer your payments. Loan agreements are like promises, and no one likes unfulfilled promises.

  1. Other Financial Obligations

Your debts do not cancel out the existence of other financial obligations, such as the kids’ school fees, monthly bills etc. While clearing off your debts, don’t leave your other financial responsibilities hanging. Also plan for them and prioritise them into your debt repayment plan. Sometimes, you can even take loans to help fulfil such obligations like school fees loans, cash loans etc. In conclusion, it’s always good practice to repay your debts. It is never advisable to collect loans without sticking to the agreement made with the lender.

5 REASONS WHY OUR LOANS ARE MOST SOUGHT AFTER

  1. COLLATERAL FREE LOANS- Our loans are without collateral’s, it means we do not ask for your car, your landed properties or your mother’s birth certificates. You can take a loan and not lose any of your belongings.
  2. NO PRE-LIQUIDATION CHARGE- When you take our loans, you can liquidate at any time and not face any charges as we do not have any penal charges on your loans. You can walk into our branches at any time, liquidate and smile out.
  3. NO ACCOUNT OPENING- You do not need to open any special account or transfer your salary account to us before we grant you a loan. We accept any account that has been serviced over a 12 month period.
  4. QUICK TURN AROUND TIME- within hours of complete documentation, you would receive your payment. We boast of exceptional customer service that follows you all through your loan tenure.
  5. INSURANCE- All Credit Direct Limited loans are fully insured and so you are immune against issues arising from job loss or death. Another reason why you need to contact us today.

At Credit Direct Limited, we guarantee PEACE OF MIND. Get Quick Loans online within hours. (Emergency Loans, Payday Loans, Collateral Free loans today)
Call 01 4482225 or 0700CREDITDIRECT, you can send an email to cashtogo@creditdirect.ng or visit www.creditdirect.ng/apply

Save Money As You Get Credit

A lot of people get unsecured loans and still don’t have enough to repay or live on. They get into debt even after the pay-day and sometimes don’t have enough for repayment.  It’s been a major problem and debts keep increasing. We give loans without collateral at www.creditdirect.ng and care about our client’s financial life.

Major questions asked are, how do I pay my repayment for the “no collateral loan” I collected, cover my daily expenses, have enough to save and yet gain more interest on my money? Saving is a good way out.

Of all the money you make, you can save some to keep for yourself, spend some, while you also have enough for your repayment. Remember, only the money you save is yours to keep. The money spent on things goes to the people from whom you buy.

A savings account is a type of bank account where you securely deposit your money and wait for it to earn you interest. A lot of Savings accounts require that you open an account and constantly make deposits into that account. You can even earn interests on their investments over a specific period.

Here are a few benefits of running a savings account:

  1. The more money you add to your savings account, the more you earn in interest. You deposit your money and, after watching the principal ‘grow’ for a while, the increase over the original amount is yours to keep!
  2. A good savings attitude can help you earn a good credit score. A good credit score indicates that you are able to repay your loan on time and perform other financial obligations. A bad credit score on the other hand, indicates you are unable to pay your bills on time and this can prevent lenders from giving you a loan or attract high interest rates.
  3. When repayment of all unsecured loans are to be made, it wouldn’t be a burden. Defaulting on payments or paying your monthly dues late will do you no good at all, it’s therefore important to have a few cash saved to avoid a default. You might want to take some of that savings and pay down your loans.
  4. Your savings can serve as a fall back solution during financial emergencies. It’s always important to have money in the bank for when “something” happens.
  5. If you have a substantial amount of money in your savings account, you can take it out of your savings account and earn more money with it by investing the money in a Fixed Deposit account.
  6. The savings account will help you build a solid cash base for the future. Living paycheck-to-paycheck is no way to live a healthy financial life.
  7. Also, if you do not have a credit history and want to get access to a pay-day loan, you can use a good savings deposit as a social capital to secure the loan or to assure lenders that you can make repayments when due.

We at www.creditdirect.ng care about you and, we want you to have a healthy financial life.

Don’t forget to check our social media handles,

My NYSC Business Story

So I was a fresh graduate. I’m about going for NYSC and  needed to boost my employability rate. I really didn’t have the job experience expected, but while on campus, I contested for elections – and won, held leadership roles in my fellowship and department. Some months before I started my youth service, I applied for an internship position at many large organizations but got rejected. Reality dawned on me, I had few job options, it’s either I go for masters, a top up degree after service was over, run my own business or stay jobless.

 

During the first month of my service year (on camp), A lot of companies came to talk about their services and one of these was Empower the corps (www.empowerthecorps.com.ng) a product of Credit Direct Limited, (Nigeria’s Number Collateral free loans company) www.creditdirect.ng. They give loan without collateral and they said they can help us run a small business during NYSC with a startup fund of up to 100k. Although the duration of the NYSC was one year, it didn’t matter much to me, I just wanted to gain some business experience, get me busy, increase my ability to get a job post-NYSC and increase my earning during my service year.

 

During SAED while on camp, I’d learnt how to make beautiful hair styles and give guys a very good haircut. 2 weeks post Camp at my PPA, I discussed with my hair specialist at home and became more acquainted with the business. All I needed now was a quick available cash to startup something at the Local Government I was posted to. I remembered Credit Direct LTD, called them (01-4482225) and was told to apply online.

 

As at the 3rd month, I applied for a loan online at www.empowerthercorps.com.ng attached all needed document and communicated with an agent. All this was done and completed online. Within a few hours, I got the “kpan kpan” on my phone. It was a credit alert from Empower The corps. My joy knew no bound. J J

 

I immediately called my hair specialist at home for support. He gave me some quick hints and …swoosh… I went into action. I got a small space close to the corpers lodged, bought a small generator of N11,000, a good electronic sterilizer to treat clippers after use and a comfortable revolving chair where customers will sit on. I got a good local carpenter to fix a table cabinet and chairs where other waiting customers can seat at an affordable price. I also bought a good standard mirror as well.

 

The returns per week was whao!! I was 3times richer that other corps member. I trained a few others and did a Free Hairdo Projects for Secondary School Students (FHPSSS) as a state project (this actually got a state recognition from the state government).

2 Years down the line, I currently work with a multinational firm and this was secured via a referral from that Hairdo community project I did. My business is still actively booming as I was able to fixup one of the community student to continue the business and I get weekly returns. All this thanks to Credit Direct for the sharp! sharp!! money I got.

I currently have a stable income job that I can use to get a pay-day loan at any time and a young booming business.

 

I’ll tell other corps members to be reminded that you don’t have to be a professional to start a business (might not be a barbing salon). You need the determination, learn a skill and don’t forget to have a mentor on that business to call on when advices are needed.

 

If you desire to a quick loan in the business, call Credit Direct 0700CREDITDIRECT or visit their website. Discuss with them and ensure you all agree all conclusions.

Does Money Actually Matter In Relationships?

Money is problem enough especially when you are single and alone and trying to do almost all of life’s requirements. (House, Cloths, food and luxury) Then the hard part comes in …. Having another person in the equation and things almost takes another dimension

Money, despite what any of us wants to believe about “love conquering all”, really matters when you’re in a relationship. Now this is not about letting someone pay for dinner on a date; We all know that even though we’re empowered feminists, it’s nice to be pampered to a nice night out by someone else often and also, you’re kidding yourself if you think that’s the extent of how money will factor into your relationship. Love might, indeed, conquer all, but trust me love still needs a roof over its head, it still needs to have some level of comfort around and probably also doesn’t want to have awkward conversations about financing a romantic getaway.

Financials, because of the expectations that come with it, and because of the way it dictates not only what you can do with your life, but what your limitations are as a couple. And if you ever decide to join financial forces, sometimes individual wants are subsumed by what’s best for both of you. So naturally, having an open discussion about money is very important to not letting financial issues blow up in your love-struck faces. When you’re in a serious relationship with someone, it’s very common for most of your money to become “Our money”. No, this doesn’t always happen; a lot of married go through their relationships and even marriages with near complete financial independence, which is great if that’s what you want. But for others, money becomes a more vaguely joint effort as the relationship moves forward.

And there are consequences to this: If you live together, you need to pay rent, bills, buy a new seats, ornaments etc. Your financial Top lists become the relationship’s financial priorities. While it’s definitely still okay to spend some money on yourself, well some really big purchases would have to be run through good defense. Before you start saying things like “But it’s my money! I earned it!” (Which is very correct, but also) here are six reasons why money actually matters in a relationship:

 

  1. Relationships should be even—and you need to be clear about this

Relationships should always be even and equal, and that means a lot of different things to different people. Some people think “equal” means a down the line 50/50 split in finances, but often that’s not always possible. Think about it, not both of them would earn the same amount or the same experience. If this occurs then there should be a clear understanding and a definite arrangement on the how this would be achieved.

Money can become important when one party can’t keep up with the other financially but is still expected to. Knowing exactly what both partners are expected to contribute to a relationship is important to clarify, so no one ends up feeling exploited or out of their depth.

  1. You don’t want to unexpectedly need to support someone

It’s almost very important to know how much your partner makes. It is really ideal. Now this does not suggest you need to start asking for bank statements, bank balances or last transactions on the second date, but if you’ve been together for a while, and plan to stay together, or if you’re planning to get married or move in together, you don’t want to have “Surprise! I’m broke!” suddenly come up. It’s more than fine to support your partner in trying times, and have them do the same for you, you should be able to stand by your partner during trying times, you don’t want to wake up one day to someone simply expecting you to carry them. You want to know that while your partner might not always be in a comfortable financial situation, their ultimate goal is to be able to put money in the bank, not to ride on your coattails like some lazy freeloader.

  1. You need to prepare for an unexpected support system for your partner

Yes, it is normal that there are times you might need to support the other person in your relationship. There might be unforeseen circumstances like job loss, big bills and low moments in relationships.

You need to understand that when it comes to money, if you’re in a serious relationship, you’re in it together. Their hard times are your hard times now, and vise versa.

  1. You need to set same financial priorities

You need to make sure that you are both capable of being reasonable, respectful and communicative when it comes to everyday spending, and that you share the same goals when it comes to spending and saving in general. Getting to know your partners spending habits is essential in building a trust worthy relationship.

For example, when one person wants to save for a new dining room table and the other person is impulsively dropping N100, 000 on a night out with friends in choice spots in Lagos, there’s a pretty fundamental mismatch in priorities, which isn’t healthy and isn’t sustainable. When you’re partnering with someone, especially when you’re living together, your spending habits matter, and will always affect the other person. While you can’t demand someone run every penny by you, you should trust that your partner isn’t going to blow money the two of you need on something frivolous. You can’t police your partner, so you need to be able to trust their judgement with finances, and that’s much easier when the two of you share similar goals.

  1. Planning a financial future together is important

A stable relationship often involves planning a future, whatever that looks like: Getting a house together, buying a car, having kids, taking lots of vacations or simply living the kind of life you need. Whatever your dreams looks like, money is important because where you spend it is going to dictate how you live, and how you achieve your goals together. It is advisable to spend wisely and open to each other as you go on.

  1. Fighting about money? Way too easy.

If you are not extremely aware of how money functions within your relationship, it can be destructive and It can ruin your relationship. If you don’t communicate and have an open dialogue about your finances, you can very quickly find yourselves fighting over each other spending habits. You use money every day. Money affects everything from where you live to what you have for as a meal and how you spend your lives. You need to pay particular attention to it.

Need A Collateral Free Loan For Vacation? Things You Need To Know.

It’s almost summer and everyone is talking about travelling and treating their families. This is an amazing idea as it helps you bond with your family and relieve the stress of the year all the pressures and work related issues, But before you go ahead, we believe there are somethings you need to know. Using a loan to pay for unnecessary expenses, like travel or weddings, can be a slippery slope to poor financial habits, such as spending more money than you have. In general, vacations should be paid for with money you already have, and if you don’t have enough money, you need to save up until you do.

If you are also planning to go on a vacation or to spend quality family time and looking for ways to pay for holiday travel without going broke or living in unbearable debt – a personal loan is the right option for you. Many financial institutions including Micro Lending organizations are offering personal loans to feed your travel appetite be it for a domestic or an international vacation.

A personal loan for vacation can be the best alternative, but you need to evaluate the pros and cons before you make the final decision. So before you decide to take a huge gamble on a loan for vacation, please here are somethings to consider that would guide you through it.

Why personal vacation loan can be an attractive option?

  • The process of personal loan disbursement is quite fast. For us in Credit Direct Limited, it is as easy as ABC and can be secured within a few hours. So for travel plans made with family and friends at the drop of a hat, opting for a Cash To Go loan will save you a lot of time and related worries.
  • It’s easy to budget, easy to compute, your repayment options are stated clearly to you, so you can plan well. Which means right from the beginning, you know what amount needs to be paid back as your monthly installment.
  • It is unsecured (collateral and guarantor free) loan, which means you don’t have to put your home, valuables on the line or put people on the spot to get funds.

Need Loans for Vacation? Things to have in mind

Since you have decided to get a loan for your next summer vacation, then here are some tips to note

  • Set up a limit on your cash and your spending habits. This would help control your withdrawals while on vacation and in essence reduce the chances of overspending. Also, create a 10% margin on these funds for contingency expenses or any overshooting of expenses as the loan approval and disbursal will be done only once.
  • Borrow within your limits per your repayment capacity rather than going for unnecessary luxury expenditures during the trip. Note that you are going to have fun and not to impress anyone There is a clear trade-off between the itinerary cost (including food, lodging, etc. costs) that you choose and your loan amount. Thus, if you spend above your means during your stay in vacation, you will end up stretching your monthly budget and increasing the chances of default at the time of repayment.
  • Try to keep the repayment tenure as short as possible, while balancing it with your monthly budget. A longer term means faster repayment period. Also, in the future you may need additional funds for business, vehicle, medical expenses or a home. In that case your overall eligibility may take a hit due to sizeable existing loans that show up on your credit report.

It is very critical to note that vacations, whether they are planned well in advance or spontaneous, do not come cheap these days. Therefore, it is advisable for you to have arranged enough funds before you travel. However, in case your vacation expense exceeds your current funds, a personal loan can be explored as the best option. However, do remember that, it is important to use the funds wisely, and have a repayment plan well-arranged so you can enjoy your vacation in peace.

At Credit Direct Limited, we have tailored collateral free loan packages for you, your vacation would be extremely enjoyable with our loans, it’s easy, fast and convenient, and you can book loans and get payment within hours. Let us help you plan your next vacation. Call us today on 0700CREDITDIRECT, or 01 4482225. You can send us an email on cashtogo@creditdirect.ng or visit www.creditdirect.ng/apply for collateral free loans.

9 Cash Flow Management Strategies for Small Businesses

Are you a small business owner? Do you have challenges managing your cash flow? We are in a good position to give you the best advice for small businesses when you are facing cash-flow issues. Below, we have described 10 strategies to help improve your businesses cash position. Not all of these strategies make sense for all businesses. However, some combination of these can be employed by any business. You can apply some and see the results.

In cases, there are alternative cash-flow management strategies that small business can use to ease the strain on their working capital. Here are some of those: 

  1. Ask for a deposit

Companies whose product or service requires substantial cash or effort before they deliver are good candidates for asking clients for a mobilization fees or deposit payment. Graphic designers, web designers, marketing agencies, PR agencies and even construction companies fall into this bucket. Not all clients may be willing to make a deposit. The only thing that is guaranteed is that you won’t get what you don’t ask for. So, encourage your customers to ask their customers for a deposit. That might be just what they need to get on solid footing.

  1. Ask customers to pay faster

Another option for managing cash-flow is to get customers to pay faster. This can take several forms. The simplest form is to give vendor discounts, you can advise them that payments received after 7 days gets a discount of some sort or payment on the spot gives you access to other benefits.

  1. Cut or Delay expenses

In the event that customers won’t pay faster, another option is to delay expenses. The strategy can take on a variety of forms, depending on the business. Manufacturing companies may consider using lower cost inputs to deliver the same goods or service, while a service company may opt for spending less time on the same work. Companies should also consider exhausting existing inventory before purchasing new inventory, or hiring part-time or contract employees to replace full-time employees.

Also consider how your client’s personal expenses impact their business. Given how much of their expenses may be personal in nature—either indirectly via the salary they pay themselves, or directly as a sole proprietor—they might want to consider what opportunities they have to cut back on their personal expenses. It may entail eating out less, downsizing, living more frugally or delaying a vacation. Out of all the variables listed here, personal expenses are the ones business owners have the most direct control over.

  1. Request more favorable payment terms from vendors

As they value their clients, vendors have a strong incentive to help finance their customers’ purchases. Getting an extra two weeks to make a payment could be the difference between missing payroll and expanding. If your payment terms are 15 days, ask for 30 days. If they are 30 days, ask for 45 days. Depending on your relationship with your vendors, you’ll find that at least some will be open to a more favorable arrangement. And, be persistent! Perhaps you’ve tried asking for more favorable payments terms before, but were declined. You have little to lose by asking again, either inquiring the same vendor or a different vendor. Of course, the more timely and dependable you are with them, the more willing they will be to extend their terms.

  1. Finance purchase orders

For manufacturing or merchandising companies that require a significant amount of cash to fulfill their purchase orders, financing purchase orders could be a solution. Once you have a purchase order on hand, the financing company will pay the vendor so you can get the merchandise or inventory the company needs to fulfill the purchase order. This eliminates the problem of getting a large order, but not being able to fulfill it because of cash to buy the inventory or materials.

  1. Increase margins

Increasing its margins will help a business spin-off more cash that can be used to fund operations. The only two ways a business can increase its margin are by increasing what it charges or decreasing the cost to deliver the product or service. Neither of these may be feasible for a majority of businesses. However, raising prices is a real option for businesses with strong demand for their product or service, or with a unique product, offering or value proposition that is not available from competitors. Any increase in prices will have to be positioned carefully to avoid alienating customers.

  1. Sell or lease idle equipment

When cash is tight, everything should be on the table. This is especially true of idle equipment that can be sold for cash or leased to another company that can put it to use. Even if the company is using the equipment, it should consider that the same equipment could be rented for much less, while the proceeds from the sale can be used to fund the business in the interim.

  1. Sell future revenue

A merchant cash advance is a viable strategy for consumer businesses like retailers and restaurants. It involves taking a loan that is automatically repaid via a percentage of the credit and debit card transaction volume received by the business. This strategy is especially viable for businesses with strong transaction history. Just make sure that the company’s margins can support the cost of the financing. Otherwise, they could be paving their way to financial ruin.

  1. Turn down, shift or post-pone work

Managing cash-flow is as much about timing as anything. Getting a year’s worth of business in one month is overwhelming for most businesses. On the flip side, insufficient business could mean shutting the doors. Thus, managing the volume of business for consistency can be a helpful way to manage cash-flow. This may entail turning down or postponing work certain times of the year. This strategy is not realistic for companies with strongly seasonal business. Retailers, snowplowers and tax accountants will not be able to change the seasonality of their business.

Final words

Given these strategies, consider which make the most sense for your client’s business. Working capital is the fuel that powers small businesses. By understanding the options available to them, your clients will be much better equipped to manage their working capital and, in turn, maintain and grow their operations.

Remember we are here for you with well-tailored loans that fits your every need. No matter where you are, we are a phone call away and our representatives are sure to meet your every need. Call 0700CREDITDIRECT today.