11 10 2014

Businesses Capitalize on Consumer Sentiment, Holiday Expectations

11 10 2014

Capitalizing on Consumer Sentiment, Holiday Expectations

There’s been a lot of news regarding improving consumer sentiment making headlines lately – which is great news for owners looking to expand operations with working capital loans for their business. Now yet another study is adding to the positive trend.

The Conference Board Consumer Confidence Index stood at 94.5 in October, representing a considerable increase from the previous month’s reading of 89.

“Consumer confidence, which had declined in September, rebounded in October,” said Lynn Franco, director of economic indicators at The Conference Board, in a media release. “A more favorable assessment of the current job market and business conditions contributed to the improvement in consumers’ view of the present situation. Looking ahead, consumers have regained confidence in the short-term outlook for the economy and labor market, and are more optimistic about their future earnings potential.”

Franco went on to say this should be especially good news for retailers with the holiday season fast approaching.

Making the most of seasonal shoppers

There are plenty of strategies business owners can use to capitalize on more confident consumers this holiday season.

One option is to take out a short-term loan to make sure your inventory is well-stocked. However, it’s important to get the wheels turning sooner rather than later when seeking financing.

“Alternative lenders provide easy, quick turnaround for small business needs, but don’t wait until the last minute,” David Gilbert, CEO and co-founder of National Funding, told Inc. Magazine.

This time of year could also call for new equipment in order to accommodate a higher number of consumers. However, purchasing such equipment may not be a viable option financially. Fortunately, there are many types of equipment leases for business owners to take advantage of.

Gilbert went on to tell Inc. that owners should find out what, if any, equipment they might need to help facilitate increased sales activity.

“Some businesses need to rent additional cash registers, point-of-sale systems, and mobile credit-card readers to cut down on lines,” he said.

Whether you plan to take out a loan or invest in equipment leasing, there are plenty of options to choose from. The key is to figure out which one makes the most sense for your specific business.

For instance, while a more traditional working capital loan may be ideal for some businesses, a merchant cash advance that allows you to repay it based on a percentage of your credit card transactions in-store could be preferable.

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General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

US Patriot Act:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan.  What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number.  We will also ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver’s license or other identifying documents.

 

For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121.  Funding amount and credit approval is subject to a full credit profile review.