Are you aware that most new businesses fail within the first year of operations? This isn’t because the company is poorly run, or that the product or service isn’t any good. Rather, they tend to run out of capital without the means to raise more. Banks are only willing to lend so much, and friends and family are typically the last place you want to go to borrow money. This is precisely when a company like Ezbob comes in handy!
Taking out a loan with Ezbob is not only fast, it’s easy. The last two things you want when trying to get a loan is a long complicated process. To illustrate just how quick and easy the process is consider that the application process typically takes a mere 10 minutes, and you can receive approval within 60 minutes.
Of course with any loan there is some minimum criteria that a borrower must meet in order to obtain funding. First, you need to be over 18 years of age and registered within the UK. You will need a valid business debit card and a minimum annual turnover of £10,000. Lastly, you will need to have been within business for 1 year. While the first year tends to be the most difficult period to do business, just know that your funding options will be there after 12 months.
Some common business uses for funding is usually equipment and inventory! You need your equipment to make the product, and you need a lot of product so that you can meet any sales orders that come in. Also, many business will invest in people as well as marketing. Human capital is just as important to any business as money. If you don’t have the right people in the right positions it can result in failure. Also, even the greatest product and/or service can go unnoticed unless it is properly marketed and advertised.
One of the features I like best about using Ezbob for funding is that it is a 24/7 operation. Whether it’s a holiday or weekend, or even the middle of the night, you can obtain funding from any internet connected device with just a few clicks. The best part, unlike many other lending institutions, you won’t receive any early payment penalties or additional costs.