In The News


10 27 2014

10 27 2014

Ready for the Holidays? 5 Small Business Saturday Survival Tips

With holiday shopping expected to grow this year, Small Business Saturday is a great time for small retailers to increase their profits and customer bases.

According to a recent forecast by consulting and financial advising firm Deloitte, US holiday shopping and sales are expected to grow by as much as 4.5 percent in the 2014 season, with purchases expected to total between $981 billion and $986 billion.

The study also found that more consumers are becoming aware of Small Business Saturday. In 2013, consumers who knew about Small Business Saturday spent $5.7 billion with independent merchants that day, which is up 3.6 percent from 2012, according to a survey from American Express.

So, how can you take advantage of Small Business Saturday’s growing success? David Gilbert, CEO of small business lender National Funding, shared five ways small business owners can prepare.

1. Make sure you’re adequately staffed. The holiday shopping season is the busiest time of the year for most retailers. Gilbert advised small business owners to review their projected sales for each of the holiday months and determine whether they will need to hire additional employees. This may not be an option year-round, Gilbert said, but higher sales during the holiday season could make it possible, not to mention a short-term necessity.

2. Lease additional equipment, if necessary. If you anticipate significant increases in sales, you may need more equipment to get you through the season. Determine, in advance, if you need things like additional cash registers, point-of-sale systems or mobile credit card readers, Gilbert said. If you do, rent your equipment with a short-term equipment lease.

3. Stock up on potentially popular items. The last thing you’ll want is to run out of your most popular merchandise before the season is over. That’s why it’s critical to understand your product or service demands during the holiday season, Gilbert said. Plan strategically in advance, he said, and stock up on popular items.

4. Boost your marketing strategy. The holidays are the perfect time to rethink your marketing strategy and increase your advertising plans. Gilbert recommended that business owners take advantage of their increase in sales by using new funds to create a comprehensive marketing campaign that will draw customers to their store.

5. Know your financing options in advance. If you think you might need additional funding to get you through the holiday season, make sure you research your options and don’t wait until the last minute. Because applying for bank loans can be time-intensive and complex, Gilbert suggested that business owners consider alternative lenders during the holidays because of their quick turnaround. Just make sure you let your lender know exactly what you want.

“[Business owners should approach] a lender with their express needs for financing — additional staff, increased marketing and advertising, payroll, inventory, equipment, and such,” Gilbert said. “Any good lender will advise based on those needs, and those needs alone, rather than trying to sell unnecessary products.”

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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.