If you weren’t proud of your business you likely wouldn’t be…in business. One of my business loans for bad credit clients that has used our program to build their score up to the mid 600s sent me a quick little fact sheet that offered 4 things about small business here in the USA worth sharing. As you know here at Skytop Business Loans we offer solutions to businesses in all industries regardless of imperfect credit, collateral, or anything else – We know small business, We love small business, We Are Small Business.
The first fact mentioned was that small businesses make up 37% of high-tech employment. This is kind of surprising for a lot of people as they don’t expect such a large number but the tech industry here in the United States is really impressive and made up of many organizations of varying sizes. Immediately we think of Apple, and Google – But there are a lot of players involved that represent the small business sector. Over a third! Tech is changing, not just in size but by location as companies are moving from Silicon Valley and establishing great hubs in cities like Austin Texas, and many others. Traditionally Austin Texas would be known for its very rich history, an important Capital City in a great state. As I got older it became known for the South by Southwest Festival which offered music everywhere you look as well as more recently big name celebrities and the like. These days when I read an article about Austin, they’re talking about the second Tech Boom which is a result of their young, educated population. The Austin Technology Council predicts that 9000 new tech jobs will be created. Wow! No wonder we’re approving so many submissions out of the Lone Star State!
Did you know that the 23 million small business in America account for 54% of all U.S. sales? That’s quite a big figure when you really think about it. 54 cents of every dollar in the United States is spent with a Small Business. Some anticipated that to be smaller due to the monster companies we have here like Amazon, but to me it wasn’t so shocking. The small businesses we work with for lines of credit, cash advances, term loans, even equipment financing are producing very healthy revenue streams. We love Revenue here, we love cash flow, we don’t care about imperfect FICO scores, we don’t want to hold the title to your vehicle nor the deed to your home you do not need collateral you simply need a business that is capable of paying back a sum of money. We call that makes-sense underwriting. I don’t see that catching on with the major Banks anytime soon, how about you?
Social media cannot be avoided whether you like it or not. I personally enjoy it, also being in my thirties perhaps I look at it differently than the generation before me; that is not to say I don’t get weird Facebook messages from my retired relatives who are enjoying themselves in Sunny Florida from time to time. When it comes to small business social media is more important every day. Over 73% of small businesses are using social media. Beyond that many say they depend on it to drive new business, communicate with their existing customers, and stay up on industry news. Twitter, Facebook, Instagram, Tumblr, and the list really goes on are now household names easily accessible by most of the population. Have you found any success in social media for your business? What do you see that really works for you, what do you see that doesn’t? Let me know I’m genuinely curious our main box is Info@SkytopBusinessLoans.com
Speaking of social media and its many uses that leads me to the fourth quick fact I wanted to share with you today. That fact is simply that 88% of small business owners serve as their own main marketers for their businesses. That means that the true majority of business owners are doing their own marketing. I find that interesting, as when we work with small businesses to secure small business loans, lines of credit, and everything else we offer here at Skytop business loans very many times the money is being used for marketing. Personally I prefer to use professionals when it comes to my marketing as my return on investment is very good and I know that my time is better served working with my existing client base to move forward in our multi-phase programs and plans. Do use of funds does not matter to us here at Skytop. As long as you can use the money to grow your business it is a good idea, and will increase the probability of paying us back in a timely fashion ; that being said, we don’t ask for any drawn-out business plan or specifics when you secure working capital through us. In fact the closest we will come to anything like that it is of course when we originated SBA Loans which require some tax returns, some basic financials, nothing too crazy – generally all we need are three months of bank statements as that will show me cash flow, that will show me your approval.
Regardless of how you personally promote your business, no matter the industry, even if you’re looking for a home-based business loan – as long as the cash flow supports the payment we will be able to move forward. When asked my opinion on use of funds as from time to time I am by the clients and have been with me for a few years, I advise them to Market and I advised them to do it creatively. I know that if you are reading this right now, and I asked you what your favorite GEICO ad campaign was – you would be able to tell me. That is really saying something!
Let me know what you think, and give me a call to talk about options our office line here is 844-323-LOAN, that’s 844-323-5626 . We are standing by and would love to put together a no-obligation quote for you to get the cash your business needs to grow in as little as 72 hours! Thanks for reading we look forward to hearing from you soon.