Laws & Legislation


05 13 2013

05 13 2013

Small Business Owners Concerned about Health Insurance Costs

With the new healthcare laws set to take effect in January 2014, more small business owners may want to consider taking out a small business loan to cover the rising costs of health insurance. According to a recent CBS News report, many entrepreneurs with a workforce of more than 50 employees are especially worried about how the Affordable Care Act will affect their enterprise.

The ACA mandates that any employer with 50 or more staff members must offer all full-time workers and their dependents minimum employer-sponsored health insurance coverage. Under the new law, a full-time employee is defined as a staff member that works 30 or more hours a week for the organization. Employers that do not supply these benefits to their workers face paying a penalty of $2,000 a year per each non-insured employee.

Small business owners unsure of how to comply, budget new expenses

As the tenets of healthcare reform can be confusing, some small business owners are concerned that they lack clarity on how to comply with the new laws and fear facing fines.

“We want to do the right thing,” small business owner Hans Rockenwagner​ told CBS. “Give us the pertinent information so we can educate ourselves on what we need to do.”

Other small business owners are anxious they will not be able to afford the new costs and fear that paying for their employee’s healthcare benefits will hurt their bottom line.

According to a U.S. Chamber of Commerce survey, 75 percent of small business owners believe healthcare reform will increase their expenses.

Although ACA proponents have said anxieties arise anytime a new law is passed, some lawmakers have become the voice of small business concerns in Congress. Like Sen. Max Baucus​ (D-Mont.) – who incidentally helped put together the healthcare law and referred to the reforms, if they are not implemented correctly, as a “train wreck coming down” at a recent hearing, CBS reported.

Despite uncertainties, the full-scale implementation of the ACA is set for January 1, 2014 and small businesses need to be prepared.

As healthcare reform leads to new healthcare-related expenses it may require small businesses to come up with some extra funding. Employers, who opt not to extend coverage to employees and pay the penalty fine instead, may want to obtain capital to cover the fees. Small business owners in need of a loan or merchant cash advance can contact National Funding to learn about what financing options are available.


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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.


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, 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.


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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.


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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.