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08 15 2013

08 15 2013

NFIB Study Shows Slow Small Business Hiring

According to the National Federation of Independent Business (NFIB), employment fell in the small business sector for the third month in a row. The NFIB announced in a report that small businesses experienced a negative 0.11 average change in employment in July from the month before.

The study also found that 9 percent of small business owners brought on an average of 2.9 workers per company over the past months. The majority of small business owners – 79 percent – said their staff numbers stayed the same, while 12 percent of respondents said they had to let employees go.

The results of the NFIB study contradict statistics presented by the government and by payroll processor ADP, Reuters reported. ADP found that private companies added 200,000 jobs to the economy in July, and Reuters expects the federal government to announce that 184,000 jobs were added last month, going on to forecast that the government numbers will show a decline from June, when 195,000 positions were filled.

The NFIB survey found that only half of small business owners have tried to hire anyone in the last three months, and those who were looking had a hard time finding qualified candidates. The organization attributes the sluggish growth in hiring to a shaky economy and slow recovery from the recession.

The economy grew by 1.7 percent during second quarter 2013, the Bureau of Economic Analysis found. The Washington Post reported that increase was slightly up from the previous quarter’s growth, but is still lagging behind previous economic recoveries.

Small business owners who cut jobs often do so as a last resort to stay afloat. If a small business owner needs help making ends meet, they can come to National Funding for a merchant cash advance or for assistance with getting a small business loan.

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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.

 

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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.

 

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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.