06 04 2013

06 04 2013

U.S. Entrepreneurship Rate at Highest in More Than a Decade

Perhaps encouraged by the rising tide of the national economy, more Americans are engaging in entrepreneurial activity, so much so that the percentage of entrepreneurs as a part of the overall population is at its highest level since before the new millennium began.

Considering the influx of entrepreneurs into the world of small business, financing might be hard to come by, as greater demand and stricter lending standards could severely hamper some entrepreneurs. Looking to alternative routes of financing for small business loans may become a company’s best bet.

Highest rate of entrepreneurship since 1999

According to the 2012 Global Entrepreneurship Monitor (GEM) U.S. Report produced by Babson College and Baruch College, the total domestic early-stage entrepreneurial activity rate last year was 13 percent, the highest such rate since first being tracked.

One of the driving factors behind increased entrepreneurship was better economic sentiment: More than 43 percent of Americans believe good opportunities exist for starting a small business, an increase of more than 20 percentage points from 2011. Overall, 56 percent think they have the resources to start a business today.

Further breaking down the demographics of U.S. entrepreneurs, researchers found that increasingly, women and minorities took up entrepreneurial activity. There are seven female entrepreneurs for every 10 men engaged in small business. Additionally, 16 percent of first-generation immigrants had started an enterprise in 2012; comparably, just 13 percent of non-immigrants did the same.

Financing obstacles still exist

Despite entrepreneurship levels reaching all-time highs last year, the study exposed a number of difficulties small business owners encounter when trying to fund their enterprises.

Just 16 percent of small business funding examined by researchers came from banks, leaving 82 percent of financing to be drawn from personal savings, families and friends – a dangerous proposition for entrepreneurs.

Researchers found entrepreneurs needed a median level of $15,000 in financing to start their business, yet much of that comes from bootstrapping and relatives and friends. This can create problems for entrepreneurs, as the study noted American small business owners faced two-thirds the proportion of business disruptions caused by financing when compared to other innovation-driven economies.

Because financing remains a trouble spot for many small business owners- especially when it’s sought from banks – entrepreneurs can consult with National Funding on access to working capital loans and equipment lease financing to build their businesses.

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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.


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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