EL PASO, Texas - December 22, 2022 - (Newswire.com)
Leading invoice funding company Viva Capital says the number of small businesses seeking nontraditional cash sources is climbing. Roughly six in 10 are skipping over traditional small business loans in favor of options like invoice factoring and creating new revenue streams. Viva's latest report, "10 Nontraditional Cash Sources for Small Businesses," explores some of the most common alternatives and is now live on VivaCF.net.
Small businesses have a lot of choices when it comes to nontraditional cash sources, the report notes. Businesses that might otherwise qualify for traditional loans can potentially work with venture capital, peer-to-peer lending, or specialty programs such as those offered by Community Development Financial Institutions and through the SBA microloan program.
"Small businesses often don't qualify for these types of funding because bank lending is tightening up again, or they can't get the level of funding they need," explains Greg DiDonna, President and Partner of Viva Capital. "Given the difficult economy and shifting consumer behavior, many are understandably concerned about having to pay back loans too."
As an alternative to funding, the report contends that creating new revenue streams can help some businesses increase working capital. For example, participating in affiliate marketing programs or referral programs can sometimes be lucrative enough to close a cash flow gap or fund growth.
DiDonna says that a debt-free funding solution such as invoice factoring also addresses both concerns and may work better for those who require larger amounts of working capital. It's like getting a cash advance on B2B invoices, so the balance is cleared when the customer pays their invoice, and the business has nothing to pay back. Most businesses will qualify for factoring for this reason too.
"Invoice factoring has built-in flexibility," DiDonna explains. "The business can choose which invoices to factor, and the level of funding available grows with the business when working with a company like Viva, so it's really a tailored fit."
Those interested in learning more about invoice factoring and other nontraditional cash sources for small businesses are encouraged to request a complimentary consultation at VivaCF.net.
ABOUT VIVA
Founded in 1999, Viva helps B2B businesses of all types accelerate cash flow through specialized funding solutions like factoring, accounts receivable financing, and asset-based lending. Their simple qualification process makes it easy for small and mid-sized companies to get vital funding despite a lack of credit or time in business. Additional information is available at VivaCF.net.
PRESS CONTACT
Armando Armendariz
915-615-6664
Contact Information:
Armando Armendariz
Director of Business Development
armando@vivacf.net
915-490-8773
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Original Source: Nontraditional Small Business Cash Sources See Surge in Popularity
