The Nuts & Bolts of the Electrical Industry

There are over 500,000 electricians in the United States today. Think about that. This is a massive industry with a number of different sectors within it. With an industry that size it means there are some businesses making serious money. If your electricians business just needs a few extra dollars to give it the boost it needs and deserves, Silver Rock Funding can help. With access to traditional credit diminishing and some banks not lending to small businesses, Silver Rock Funding has stepped in to help. Now you can get up to $500,000 for your business to thrive.

Financing Small Business Loans

The process begins when you identify a need for your electrician business. Whether you need cash for supplies and equipment, salaries for your workers, or even repairs for your service vehicles, we can assist in the process. The process allows you to be approved within 24 hours and have the cash just 2 business days later. One of the most popular forms of financing offered through Silver Rock Funding is a merchant cash advance where you pay back your loan through a portion of your daily credit card receipts. This process gives small businesses like electricians the cash they need while not draining their savings. Your dedicated funding manager will work with you to explain all of the options your business has for funding. For most small business loans, you will most likely need to provide six months of bank statements and three months of merchant processing statements.

Our funding specialists will help to bring together all your materials and get the right funding for your electrical business or electrician shop. Get between $5,000 and $500,000 without draining your savings. Your business deserves the right loan from the right team.

Big Summer in Store for HVAC Businesses

HVAC companies can expect a busy summer.

As the summer rapidly approaches, one question is on everyone’s mind: how hot can we expect it to be? To answer that question, many turn to the Farmer’s Almanac. This year’s Almanac doesn’t appear to have good news. It predicts that this summer will be hot and “oppressively humid” for most of the United States.

“August will bring the hottest weather of the summer to cities along the coast,” says Kristen Rodman of AccuWeather.com

After last year’s brutal summer, this projection cannot be seen as a very promising one.

While most people are dreading the impending heat and discomfort, small businesses that work in the air conditioning field have a potential business boon to look forward to. As the summer heat grows more and more stifling, people with air conditioners will start to kick theirs into overdrive, potentially leading to failures. People without air conditioners will install them in an effort to keep their home from becoming a makeshift sauna. This is great news for any air conditioning repair or installation business.

One thing is required above all else for a small business to take advantage of these market conditions: money. It’s nearly impossible for a company to make the most out of a favorable situation without the proper financing. Silver Rock Funding can help your small business get the merchant cash advance it needs to seize the opportunities available. Small business loans from $5,000 to $500,000 can be approved often within 72 hours, making sure your business doesn’t miss a single chance to improve.

Summer Still Most Popular Wedding Season

The most popular months for weddings are June and August.

With Memorial Day squarely in the rearview mirror, summer is fast approaching. That means a few things: the pools open, people start heading off on vacation, and food starts to be cooked outside in some sort of grilling fashion. It also means another thing: weddings. Summer has long been seen as the wedding season, and this year looks to be no different. According to TheKnot.com, almost 40% of all weddings take place during the summer, with June and August being the most popular months. The wedding industry is shockingly large: 2.4 million weddings are performed every year, to the tune of an over $50 billion per year industry.

A tremendous amount of work goes into planning and carrying out a wedding. The average wedding is planned for over nine months. This means that weddings need the help of many different kinds of businesses: bridal shops, jewelry stores, catering services, florists, entertainment venues…you get the idea. There will always be people getting married who need small businesses to make their dream a reality, especially during the summer. Silver Rock Funding can help your small business get the merchant cash advance it needs to take advantage of the summer wedding boom. Our network of lenders can help you get business loans between $5,000 and $500,000, often within 72 hours, making sure you’re ready for all the opportunities that come your way.

Summer Tourism Projected to Increase

This summer is expected to be a big one for the tourism industry

This past Memorial Day weekend was the unofficial kickoff of summer, and was one of the busiest Memorial Days of the past decade, with more than 30 million people traveling. This summer looks to be just as busy in terms of travel. Weary from the record-breaking winter, one-fourth of all consumers say that they expect to spend more money this summer, especially on travel. This projection is great news for the hotel industry. Hotel research company Smith Travel Research predicts that this summer will be a boom for the hospitality industry in the United States, with occupancy in hotels for the summer rising to 71.2 percent and revenue per room going up to $82.90.

Many cities in the United States rely on tourism as a major part of their economy, especially during the summer. Maryland’s Ocean City gets about 8 million visitors a year, with the majority visiting during the summertime. In Long Island, New York, more than 4 percent of the state’s gross product comes from tourism, and more than 51,000 people work in the tourism industry on Long Island.

Taking advantage of favorable market conditions like this summer’s projection is crucial to the success of a small business. Businesses that get the most out of their potential are those that adjust and seize the most opportune moments. It can be nearly impossible to get the most out of your business without the proper financing. Silver Rock Funding can help get your small business the business loans it needs in order to rise as high as possible. Whether you’re a bed and breakfast hoping to take advantage of increased travel projections or a restaurant in a tourism hotspot, Silver Rock Funding can help get your business a merchant cash advance of anywhere between $5,000 and $500,000 for its business needs.

Travel Company Rises to New Heights

Transportation industry affords opportunity for consistent growth

Polina Raygorodskaya started her own online travel startup after getting stranded on a cross-country trip in 2011. Her company, Wanderu, helps bus and train travelers in the US book their next reservation. Raygorodskaya says she saw an opportunity for Wanderu when she noticed that many bus services in the United States didn’t have an online booking service. Now, just three years after its founding, Wanderu has announced a partnership with the largest intercity bus service in the United States: Greyhound Lines, which has 3100 destinations nationwide. The expansion doesn’t stop there: Raygorodskaya says that Wanderu also has plans to expand digitally by creating their own apps for iPhone and Android.

In this interconnected world, more and more small business owners are finding it possible for their company to rise to the level of competing with the big names in their industry. The travel industry is an area where growth is especially available – the global industry is expected to grow consistently by more than5% per year for the next decade, according to an Oxford Economics study. Expanding your travel company like Wanderu did is a great way to take advantage of this positive economic projection. However, funding issues can get in the way of your transportation company rising as high as it can. If you’re finding yourself struggling to fund your company’s expansion, Silver Rock Funding can help get you small business loans from anywhere between $5,000 and $500,000 for your business needs.

Poll Finds: Small Biz Owners Have Few Regrets

Small business owners appear increasingly optimistic

Encouraging news for anyone thinking of starting their own small business: a new poll shows that an overwhelming majority of small business owners wouldn't change anything about their choice. A new Gallup poll found that 84% of small business owners have no regrets about making the decision to start their own business. Since 2003, the percentage of small business owners who said that they would start their own business all over again has held steady at about 80%. Business owners said that the most rewarding parts of their choices were being their own boss and feeling a sense of pride and accomplishment.

However, many small business owners polled said that one of the most difficult parts about starting their business was financing. One source of help for small business owners worried about having enough money to expand their business is Silver Rock Funding. Silver Rock Funding’s network of lenders can help owners of small businesses get anywhere between $5,000 and $500,000 to fulfill any of their business needs. Whether you’re a restaurant in need of cash for renovations, or a trucking company in need of working capital to help compete with the bigger names in the industry, Silver Rock Funding can help get you the money you need.

Most loans can be funded within 72 hours, helping you get the cash you need to help your business grow – fast.

You Will Never Guess Who Got Surpassed as #1 Freight Company in One State

Even small biz owners can have big profits

Who would have known that J.B. Hunt Transportation Services of Lowell climbed to number 1 in freight services in Arkansas in 2013 after topping the former #1, FedEx Freight? According to a recent article on their rise, they "did it by continuing to emphasize services and not just trucking. J.B. Hunt reported revenue of nearly $5.6 billion in 2013, surpassing former No. 1 FedEx Freight, which reported approximately $5.4 billion."

The growth comes for J.B. Hunt after finishing 3rd in 2011 and growing revenue more than 10% since 2012. J.B. Hunt is certainly just one company in one corner of the country, but they do symbolize what a smart company can do to get market share. Whatever competitors you have in your space shouldn't preclude you from being able to crank away at the big dogs in the space and try to gain some traction. Additionally, loans of all different sizes can certainly serve as a method to assist in growth and development. 

It's important to also note that J.B. Hunt isn't the only one picking up steam in this competitive trucking industry.  The No. 10 USA Truck of Van Buren, No. 11 Maverick USA of North Little Rock, No. 15 Hines Trucking of Prescott and No. 16 Woodfield Inc. of Camden all reported revenue increases of more than 9 percent.

Good for them!

Women Starting Companies at Torrid Pace, AP says

Really exciting news from the Associated Press:

Female small business owners continue to grow in numbers

"Women are starting companies at a torrid pace. Between 1997 and 2014, the number of women-owned businesses in the U.S. rose by 68 percent, twice the growth rate for men and nearly one and a-half times the rate for all companies, according to an American Express analysis of Census Bureau figures. They are starting an estimated 1,288 companies each day, up from 602 in 2011-12, American Express says."

Many point to the fact that more and more individuals are starting small businesses because of the economic downturn of the last 5-6 years. At the same time, the disproportionate growth of females as business owners is exciting and helps diversify the marketplace. Results are always important too and early figures show great performance from female business owners too:

"About 70 percent of the women owners polled in a recent Ba
nk of America survey said they expect their revenue to rise over the next year, compared to 66 percent of men. Fifty-six percent of women plan to hire in the next year, compared to 50 percent of men."

As more small business owners have looked to grow their businesses, alternative funding sources have increased in their ability to help business owners get the small business loans they need to thrive and succeed. The much-discussed merchant cash advance option has been one of the most powerful ways to help small businesses because it allows businesses to access capital without draining their supplies.

Travel Estimates Increase For Memorial Day; 36 million on Roads

More Americans are Expected to Travel This Memorial Day

After a rough winter, businesses and consumers alike are expecting a better summer than in years past because more people have cabin fever. According to AAA, the automotive travel club "a total of 36.1 million people to travel 50 miles or more. If that estimate holds true, it would be the largest amount of people traveling during the holiday weekend since 2005." That means that more businesses than ever will be expecting travelers, vacationers and more to hit their stores. So whether your pizza shop will get more highway traffic or your boutique hotel will get more action, its great to know that there is light at the end of the tunnel.

A few key notes about the study:

• Of the total travelers, 31.8 million are expected to drive, up 1.3 percent from 31.4 million last year. 
• Gas prices are expected to be lower than last year's average of $3.63, thanks to rising supplies.
• Airports will be busier, with 2.6 million people expected to fly this year, up 2.4 percent from last year. 
• 1.7 million people will take a cruise, train or bus, a 6.5 percent jump from a year ago.
• Hotel rooms are likely to cost $3 more a night from last year, at an average of $169 per night. 
• The average cost of a round-trip plane ticket is $227, up from $215 a year ago. 
• Car rentals will average $44 a day during the weekend, up 1 percent from a year ago. 

How is One 74-Year-Old Piece of Clothing Worth $292 Million?

Happy 74th Birthday Stockings

"I remember seeing two things at the World's Fair: the first television set and nylon stockings...I thought they were amazing."

     - 91 year old Rosa Shufleder, who attended the fair with her father 

74 years ago today, on May 15, 1940, nylon stockings were introduced to the world by the DuPont company in Seaford, Delaware. Immediately, the nylon hosiery was a huge success: women lined up at stores across the country to obtain the precious goods. According to one story on the release, on its first year on the market, "DuPont sold 64 million pairs of stockings. That same year, nylon appeared in the movie, The Wizard of Oz, where it was used to create the tornado that carried Dorothy to the Emerald City." Today, nylon stockings are as ubiquitous as the Big Mac and jelly donuts. 
Today, the stocking industry is a $292 million industry and there is no stopping it. See the dominant leaders in the space below. While DuPont was already a major name in textiles before nylon stockings, it's important to note that they took a chance on an unknown product and helped it grow. Taking risks is all about understanding the environment and growing within it. Many small businesses today are taking risks with new products, innovations and even financing. Many small business owners have leveraged small business loans as a smart way to get the funding they need to grow as well.

Find more statistics at Statista  

 Learn more about how other small businesses can get their start here: www.silverrockfunding.com