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ALTERNATIVE BUSINESS FINANCING |
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“I have dedicated my life to helping the Indian cause. During the last three decades I have been pleased to witness the blossoming of Indian enterprise. As success follows success and economic development expands, the need arises for cash flow to preserve, manage and grow your business.
My partners and I started One Sky Financial Solutions because we believe that only an American Indian-owned
company can be sensitive to the unique needs of Indian Country. I believe that no other company can match what One Sky Financial Solutions is offering: first-rate financial solutions and personal service from an American Indian-owned company.”
— Joel M. Frank Sr.
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All business owners wish that a bank could finance their business. Most new business owners quickly learn that receiving traditional bank financing can often be next to impossible. In fact, only 30% of small businesses are eligible for traditional bank financing.
Traditional bank financing is FICO score driven, usually only available to property owners (with a strong secondary source of repayment) and requires that the business be profitable with contained growth (less than 10% annual growth). Businesses are also required to show that historically they generate enough cash flow to support the repayment of the loan. In addition, the business must be at least two years old and without annual loss.
Just because a business begins its life without support from a bank, it is not unusual for a business to eventually position itself to attract some form of bank financing. Knowing that a bank will not even consider financing until a business is at least two years old, the question becomes, what do we do along the way?
Two options that certain types of business have at their disposal to help them are Factoring and Accounts Receivable Financing.
Contact Charles Faremouth at One Sky Financial to learn more about how we can be your partner of Choice for all of your financing solutions. |
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