08 12 2013

08 12 2013

Small Businesses Hiring Increases in July

According to a new report from ADP, hiring increased within private companies across the United States in July. The ADP National Employment Report for July 2013 found that more than 200,000 jobs were added in the private sector during the month, up from June’s 198,000 figure. Despite the economic challenges still facing entrepreneurs, small business owners made a significant contribution to the growth, adding 82,000 jobs to the economy, representing 41 percent of overall job growth in July.

The ADP job growth figures were shaky and unpredictable throughout 2012, and have experienced uneven month-to-month gains and losses during the first half of 2013. In February of this year, for example, 198,000 jobs were added to the economy; in March, that number dropped to 124,000. Over the next three months, gains were made again, leaping from 141,000 jobs created in April to the most recent 200,000 July figure.

Optimism abounds while some remain uncertain

According to ADP’s data, job growth beat economists’ expectations. Throughout 2013, businesses with fewer than 50 employees have experienced substantial job growth, adding more than half a million jobs to the economy. The 500,000 new jobs accounted for approximately 40 percent of job growth in the private sector on a month-by-month basis.

Updated unemployment figures are scheduled to be released this week by the U.S. Department of Labor Statistics. Although job rates have risen over the past year, the most recent government reports listed the national unemployment rate at 7.6 percent in May of this year. Some of the unemployment statistics can be attributed to the loss in industrial and manufacturing jobs – while many small and large businesses have increased hiring, manufacturing jobs decreased by 5,000 in July.

Fueling further optimism, it has been reported that consumer spending is also on the rise. The Bureau of Economic Analysis recently reported that the national economy grew by 1.7 percent in second quarter 2013, outstripping economists’ projections. Economists are attributing this positive trend to an increase in exports, investments, and consumer spending.

Many small business owners are still wary of the announcement, however, as many wait for word from the Federal Reserve on whether the central bank will decrease asset purchases beginning as soon as September. Many small business owners rely on this news as a way to forecast their own potential for business success.

Small businesses that are experiencing higher growth rates may be looking to expand operations to capitalize on possible increased consumer spending. One of the best ways to improve a business is to replace out-of-date equipment. Small business owners can come to National Funding, a small business lender, for guidance on equipment financing and other operational needs.


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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.


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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.