All business startups need capital to launch, along with cash flow to keep the business running until it’s profitable.
Maybe you’ve come up with a fantastic idea but have no cash to get started? Or, you’ve managed to get your business up and running but are now short on cash flow.
You don’t want your great new idea to fizzle out simply because of a lack of funds to see it through to the next phase.
So, if you’ve been asking yourself the question, “where can I get instant cash for a startup?”, this post will provide the answer. There are always options. It’s just simply being aware of those options.
Get a Quick Cash Loan
A quick cash loan, also referred to as a fast cash loan, is really just a small Personal Loan provided by a private lender.
There are two key reasons why you want to approach a private lender for a quick cash loan and not a bank. Firstly, banks don’t offer smaller Personal Loans. Generally, they often have a minimum of $5k. The second reason is that you generally won’t get money quickly when you seek finance from a bank.
With private lenders, it’s a totally different story. If you apply early enough in the day, there’s a good chance your loan application will be assessed and approved that same day, with the cash in your nominated account by the end of the day or the very next business day.
You can also borrow much smaller sums from private lenders. Maybe you only need $500 or $1,000 to cover your needs. No point getting into debt with a bank for $5K when you only want a fraction of that amount.
There are many ways to use quick cash loans too. You could put some of the money towards advertising and marketing your products or services, or even creating an online presence and having a website built. Or, you might simply want to have the cash on hand to keep you afloat while increasing business turnover.
One of the biggest killers of new Australian startup businesses is a lack of capital or poor money management. This is where a quick cash loan can really save the day and your enterprise.
A Pawn Loan Is Another Excellent Option
While Personal Loans are unsecured loans, you could also opt for a Pawn Loan if you have something of value that you could leave with the lender as collateral. Maybe you have a private vehicle or a company car.
The way Pawn Loans work with private lenders is you can basically borrow up to 60% of the market value of your vehicle, business equipment or valuables such as expensive jewellery and watches. A vehicle isn’t restricted to cars either. It could be a van, truck, motorbike, caravan, boat and so on. So long as you own it outright and can produce rego papers, you’ll be able to negotiate a Pawn Loan. The only other stipulation with vehicles is they must be less than 10 years old and have driven less than 150,000km.
Just like with the quick cash loan option, there are a number of ways to use Pawn Loans for startup businesses.
As an example, you might have a client order to fill but don’t have the funds available to get it done. You know you’ll be receiving a healthy payment from the client once you’ve fulfilled the order, so in the interim, you could get a Pawn Loan against the value of your car, get the cash you need, fulfil the order, get paid and then pay off your Pawn Loan.
The end result will be a satisfied customer and a tidy profit for your business.
Pawn Loans really are a good option to keep in mind for business owners and entrepreneurs.
So, the answer to the question of, “where can I get start up finance?”, is to seek a Personal Loan or a Pawn Loan from a private lender such as Cashify Loans. We provide fast service and competitive terms on both our Personal Loans and Pawn Loans. Come to us first and get your business cash flow on track today.
Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.