Finance & Lending

 

02 19 2014

02 19 2014

Small Business Owner Optimism Hits Recent High

It’s essentially known that confidence in the country’s economy still has some room to improve since its pre-recession levels, but a new report found that it’s slowly but surely recovering. The recent Wells Fargo/Gallup Small Business Index from January revealed that optimism among the country’s small business owners increased to 45 – up from 24 in October and reaching the highest score since third quarter 2008.

Overall financial situations, revenue, cash flow, business capital spending, number of jobs and ability to obtain credit now and in the next 12 months are all measured for the Small Business Index. The survey results show that all criteria showed improvements from fourth quarter 2013:

  • Twenty-two percent of owners believe they’ll hire this year, compared to 16 percent in the previous survey.
  • Fifty-seven percent said their cash flow for the next 12 months will be “good,” while 52 percent said the same thing in the last quarter of 2013.
  • The portion of owners who believe they’ll have increased revenue this year reached 48 percent, compared to 44 percent in the last survey.
  • Those who believe their cash flow in the next 12 months will be “good” increased from 46 percent in fourth quarter 2013 to 52 percent in the latest survey.
  • Finally, 23 percent of owners reported having difficulty obtaining credit, a decrease from 27 percent in fourth quarter 2013.

Increases in each area bode well for the economy as a whole, as small businesses are key to the country’s job market. When small business owners show their confidence through increased hiring and spending, Americans in general typically share the same sentiment, spending more money and investing more.

Small business owners who want to demonstrate their confidence by increasing spending and ramping up hiring should consult with a nontraditional lender like National Funding, which offer borrowers flexibility and ease of credit access.

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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.