Government Shutdown Forces Small Businesses to Seek Alternative Financing
Just a few days into the U.S. government shutdown, small-business owners are already feeling the negative effects. Vital federal services that assist small business cash flow and capitalization requirements have been halted or curtailed. Until Congress agrees to fund these programs, the shutdown’s effects will only increase.
Small Business Services Are On Hold
Here are a few of the government services pertaining to small businesses that are affected:
• All Small Business Administration loan guarantees are halted. Additionally, it has curtailed assistance to firms seeking government contracts.
• First-time home buyers and low-to-moderate income borrowers are facing delays in Federal Housing Administration loan underwriting. Many home buyers and sellers are small business customers.
• Lenders are unable to verify applicants’ income information because IRS income tax transcripts are not available.
• The federal E-Verify system is offline during the shutdown, which means businesses cannot ascertain if job seekers can legally work in the U.S.
Merchant Cash Advance to the Rescue
For a small business whose financing options are on hold during the government shutdown, a business cash advance is a perfect alternative. World Global Financing is a nationwide company specializing in unsecured small business loans and other finance packages for small enterprises unable to procure a loan from traditional lenders.
With WG Financing’s simple application process and +75 percent approval rate, they provide an ideal alternative for a merchant cash advance or unsecured small business loans any time your business requires short-term or emergency working capital. A business cash advance is usually available within 48 hours of your application for any use such as improving production, purchasing stock or increasing your customer base.
WG Financing also offers alternative vendor financing to your customers so that your customers can purchase more of your business’ goods or services. Your customers can choose among several convenient lending access methods.
Key Features of WG Financing’s Alternative Lending Process
Application requirements are simple to meet:
• A poor credit history is acceptable
• Collateral requirements are no required
• You choose your repayment terms
• A business plan is not necessary
• Paperwork is minimal
• You receive a loan decision within 48 hours
With the ability to loan from $3000 to $1 million, WG Financing has loans to suit any small or medium-sized enterprise. For an injection of cash, extra capital for projects or other needs, WG Financing is just a phone call away.