Trends

 

05 06 2013

05 06 2013

Small Business Confidence Builds on Consumer Sentiment

Small business may be booming across the country. According to the Wells Fargo/Gallup Small Business Index, smaller firms were slightly more confident in April than they were since the start of the year.

The index, conducted during the first week of April, improved seven points to a positive 16, compared to a reading of positive nine in January and a negative 11 in November. While the index is down from a year ago, the latest monthly value is the third highest since July of 2008. Yet while optimism is growing, most small business owners said attracting customers is the most pressing challenge they face today.

Consumer confidence, home prices bolster small business hopes

Small businesses aren’t the only ones feeling a little more at ease in the current economic climate. Recently, The Conference Board’s index measure of consumer confidence rose to 68.1, which beat analyst expectations in a recent Bloomberg survey, in which economists predicted a reading of 61.

Recent housing price data also indicates small businesses’ hopes may be lifted by consumers upping their spend. Recent February figures for the S&P/Case-Shiller Home Price Indices showed average home prices increased 8.6 percent and 9.3 percent for the 10- and 20-City Composites, respectively, from February 2012. Each city included in the indices posted year-over-year growth for at least two consecutive months.

If consumers are spending, that is good news for small businesses, especially those in construction-related fields.

“The fact that [consumers] feel a little bit wealthier will give them a little more leeway,” Brian Jones, senior U.S. economist at Societe Generale, told Bloomberg. “You’re going to have a spring lull, and growth will re-accelerate in the second half of the year. I do think the labor market is genuinely getting better.”

Cash flow a bright spot for small business

While 48 percent of business owners said cash flow was very good or somewhat good over the past 12 months in the Wells Fargo/Gallup index survey, up from 41 percent in January, 53 percent of owners expect their cash flow to be very or somewhat good over the next 12 months.

Other survey results suggest small businesses may be in the market for financing: 61 percent of business owners said they were comfortable with their debt load.

Financing businesses, like National Funding, provide sound alternatives for small businesses with strong cash flows looking to attract new customers by improving their products and services with equipment leasing, merchant cash advances, and small business loan options.

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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.

 

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To help the United States Government fight terrorism and money laundering, Federal law requires us to obtain, verify, and record information that identifies each person that opens an account. What this means for you: when you open an account, we will ask for your name, a street address, date of birth, and an identification number, such as a Social Security number, that Federal law requires us to obtain. We may also ask to see your driver's license or other identifying documents that will allow us to identify you.

 

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.