In The News


10 22 2014

10 22 2014

How To Prepare Your Business For Black Friday, Holiday Shopping

The “official” kickoff to the holiday shopping season—Black Friday—is less than 50 days away. For consumers, that means it’s time to look yourself in the mirror and figure out whether you’re going to max out your credit limit online or in the flesh.

But for small business owners, it’s a different story. Imagine the onslaught that ensues each holiday season when wallets and pocket books open with frequency—and urgency—you haven’t seen all year. Or many years: According to a recent Deloitte forecast, spending during the coming holiday season is expected to increase by as much as 4.5%, buoyed by an improving economy and rising consumer sentiment. These are circumstances that usually require additional staff, equipment, inventory, etc.

But that, of course, requires money. Money that banks are not always looking to lend to small businesses. So increasingly, small businesses are turning to alternative lenders to get the cash they need. So we talked to David Gilbert, CEO of National Funding, a San Diego-based alternative lender that will do $200 million in loans and equipment leases to small businesses this year. He shared with us what Westchester businesses should be doing to prepare for the uptick in demand and how you can finance it.

Hire Additional Staff

Gilbert recommends reviewing projected sales for each of the holiday months and plan out whether you will need additional staff. Higher-than-usual sales around the holidays can make it a short-term necessity.

Lease Equipment in the Short Term

Determine what, if any, equipment you will need to accommodate the increased holiday sales. Often, businesses need to rent additional cash registers, point-of-sale systems, and mobile credit card readers to cut down on checkout lines.

Stock Up on Inventory

Understanding your product or service demands during the holiday season is critical. As a small business, Gilbert says, the last thing you want is to run out of the season’s hottest gift. Plan strategically when stocking your holiday inventory and stock up as much as possible.

Know Your [Lending] Options

While applying for bank loans can be time-intensive and complex, alternative lenders provide easy, quick turnaround for all of the above small business needs. Gilbert advises small business owners to have a plan to secure financing in place at least one month before Thanksgiving.

“The majority of the marketplace is made up of small, mom-and-pop businesses, and that entire sector usually doesn’t have the strong balance sheet or financial statements that banks are looking for,” explains Gilbert. Gilbert says alternative lenders are a good option for small businesses because they are more concerned with a business’s cash flow, the time of year, and the industry in which you’re operating than the traditional creditworthiness indicators a bank would rely on (which tend to be weaker for small businesses).

Find Out How Much Funding You Qualify For

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Terms & Conditions

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, text-messages, 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, text-messages, 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.


Text Messaging:

By providing my wireless phone number to National Funding, Inc., I agree and acknowledge that National Funding, Inc. may send text and multimedia messages to my wireless phone number for any purpose. I agree that these text or multimedia messages may be regarding the products and/or services that I have previously purchased and products and/or services that National Funding, Inc. may market to me. I acknowledge that this consent may be removed at my request but that until such consent is revoked, I may receive text or multimedia messages from National Funding, Inc to my wireless phone number.

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.