Applying for financing: what are the options? 

Entrepreneurs often face various obstacles when applying for additional business financing. In many cases, they turn to traditional financial service providers. After an extensive application process, the outcome is frequently disappointing. For example, starting entrepreneurs may not pass the application process because they are unable to provide annual financial statements or do not meet other requirements. 

Applying for financing without annual financial statements 

Imagine this: you run a successful business that is less than a year old, but you need additional funding to enable further growth, for example to purchase extra inventory. It could also be that, due to unforeseen circumstances, you face a financial challenge, such as a leak that requires you to purchase new equipment and secure additional funds to cover the cost. 

Fortunately, alongside traditional providers, there are parties that take a different approach. Instead of focusing primarily on how long you have been in business, they look at other criteria, such as your sales volume. The conditions are more flexible, and the application process is quick, allowing you to complete an online form in just a few minutes.  

Flexible payments based on revenue 

Another important advantage is that payments can be based on your revenue. Rather than paying a fixed monthly amount, your current situation is taken into account. When your business is performing well, you pay back faster. When business is quiet, you pay less. The interest rate, however, remains fixed. 

One partner for payments and financing 

An additional benefit is that some providers allow loan payments to be integrated with your transaction processing. Payments are then handled automatically. It is also convenient to bundle multiple services with one provider, as this saves time and simplifies administration. Once your business is known to a provider and they have insight into your financial situation, it is often easier to make use of additional services. 

Always insight into your business financing 

When choosing business financing, it is important to have clear insight into your financial position. An easy-to-use dashboard is therefore a major added value, letting you see at a glance where you stand and giving you confidence and control.