Rebuilding in the Construction Business: Alternative Funding Options for a Changing Industry

The construction industry has had it's hurdles. The sector is slowly improving and returning to levels before the crippling economic recession. A recent study projected substantial growth in 2016, with value of construction starts set to reach $712 billion dollars.  Expansion in growth of the construction industry is promising.

Smaller construction firms may not have access to the funds
that larger construction enterprises might have.
(Photo by Elvert Barnes).

According to the Bureau of Labor and Statistics, the construction industry had an annual revenue of around 1.73 billion dollars in 2015.  More promising is the rise in single-family home construction, allowing small construction business owners to benefit from the prospering industry. Unfortunately, as with many small businesses, expenses can occur that may make it difficult for construction businesses to stay afloat. Smaller construction firms may not have access to the funds that larger construction enterprises might have. 

There is a growing need for technology such as 3D laser scanners and building information modeling. Having additional funds can make these technologies and reality for your business. It has also been documented that there is a labor shortage in the construction industry. Having additional funds can help you to hire and train a solid employee-base. Through non-traditional lenders,  the money is available for construction businesses. 

Silver Rock Funding connects small construction business owners with lenders. Funding options are unique to the business owners needs and qualifications. A popular option is a merchant cash advance. Using a merchant cash advance allows a construction business owner to pay back funding with future receivables or a portion of credit card receipts. If you believe that your construction business can benefit from funding, fill out an application at no cost. For more information, call Silver Rock Funding at 1-800-ROCK-163.

A Great Time to be an Entrepreneur

Small businesses are important to the economy for many reasons. A key indicator to the health of the US economy is the

Small business owners are highlighting the
surge in the American Economy

state of small businesses: small businesses employs half of the private work sector. Chief economist of Moody Analytics, Mark Zand, believes that the environment for small businesses is better than it has been since the recession ended in 2009. Here's why we agree:

Entrepreneurs Feel Confident

As the economy took a downturn, many business owners were left feeling hopeless. Luckily, it appears as though that has changed. According to new results from the Small Business Barometer poll by Allstate, business owners are optimistic about the future. 53% of the polled entrepreneurs stated that right now is the best time to own a small business. Their confidence may not be in vain, 73% of those business owners believe that funding is "readily available."

Additional Hiring

There has been so much talk in the media about job losses and growths, that it can be difficult to know what is going on in the economy. However, statistics show us that small businesses are steadily increasing their hiring. The employee count of small businesses have went up an average of 2.2% per year for the last 3 years. The ability and need to hire new employees is a great sign that things are looking forward, not only for small businesses, but for the economy in general.

Improved Funding Opportunities

Although big banks have decreased their number of approvals for small business loans, small businesses that are in need of funds have not been left in the dust. Alternative lending sources are becoming more reliable in assisting entrepreneurs in growing and maintaining their businesses. Private lenders have changed small business lending.

3 in 5 loan requests are approved by non-traditional lenders, that is nearly triple the number of approval rates of banks. Now more than ever, it is easier for small businesses to cover payroll expenses, equipment malfunctions, or expansion by acquiring a small business loan for which they usually would not qualify. Silver Rock Funding connects entrepreneurs to lenders who can tailor a plan to meet a variety of needs. Qualification is based on a number of factors, including business income and time in business. Traditional credit scoring is not seen as essential.

With increased hiring and additional opportunities to access funding, small businesses are highlighting the re-surge in the American economy. If you are an entrepreneur who needs additional funding to continue reaping the benefits of the growth of small businesses, apply for funding online. For more information contact a Silver Rock Funding representative by calling 1-800-ROCK-163.

Spilling the Beans on Coffee Shop Funding

There has been a rise in successful independent coffee shops.
(Photo by Nan Palmero)

Coffee shops (or cafes if you're fancy) are the fastest growing niche in the restaurant business. Since the average American coffee drinker consumes 2.7 cups of the caffeinated beverage, it is easy to see why. Coffee is the second most sought-after commodity in the world, after crude oil. Which is believable if you have found yourself in any coffee shop on a Monday morning. This has made the coffee industry extremely lucrative. Although big brands like Starbucks account for the majority of revenue, independent coffee shops are making a mark of their own.

In recent years, there has been a rise in successful independent coffee shops and brands.  Many store owners have found it difficult to get needed funding in times when they really need it. In emergency situations when a drip coffee machine malfunctions, it is virtually impossible to run a coffee shop. Yet, traditional forms of lending have become increasingly unreliable. Alternative lending methods can help coffee shop owners compete with the "green mermaid" also known as Starbucks.

Expenses such as that new espresso machine, renovations, or hiring additional baristas can be a burden to cafe owners. Silver Rock Funding can connect you to loan options that can be tailored to the needs of cafe owners, regardless of their credit-standing.  One popular option is asset-based loans. Asset-based loans are secured by valuable property, including equipment. Once an application is submitted, Silver Rock Funding will connect you with a lender. The lender will assist you to find a funding opportunity suitable for your cafe. Connect with Silver Rock Funding today and find the right solution for your business.

Digging for Gold - Jewelry Store Loans in a Changing Industry

Funding for marketing can help small businesses
Photo by Melvin "Buddy" Baker

Although there has been a rise in internet commerce for some time now, brick and mortar stores are still important to brands. Walking into a jewelry store and having a full view of diamonds and pearls is far greater than clicking through an Instagram boutique.  In late 2015, Amazon left customers perplexed when they opened their first physical store. Customers still cherish being able to see products up-close and personal.

Many consumers, however, will still be making purchases based on the advertising that they see on both traditional media and the web. For business owners, covering the costs of marketing your business  and maintaining your inventory can be tough. Now more than ever, operating a jewelry business has become complex and more expensive. With the market for jewelry stores becoming more immersed, it is important for jewelry store owners to get the right funding to keep up with the changes in the industry. Your small jewelry business may have only been open for 5 years or it may be a family business, either way additional money for advertisements, merchandise, and other expenses can help keep your store afloat.

If you need a loan for your jewelry store, Silver Rock Funding can help your business with several small business loan options. Regardless of your credit profile, you can get the small business loan that you need. Silver Rock Funding will take the time to learn more about your jewelry business to understand your needs.  One popular option is the merchant cash advance, this funding option allows you to pay back your loan using your daily credit card receipts. Once you submit your completed application, you will be assigned a Funding Manager to assist you with the process.

Cutting Your Teeth; Emerging Dental Practice Loan Options

While estimates obviously vary, it is clear there are more than 115,000 dental practices across the United States and about 130,000 full-time equivalent practicing doctors. While

Dental practice loans can assist in a firms' growth.

that number might seem small, it is important to recognize the permanence and ubiquity of this field of medicine. From small practices to national powerhouses, dentists are a significant part of the economy and continue to grow. A recent article in Dental Economics looked at the challenges that exist for young dentists looking to grow their practice and boost their returns. The other huge element here is the amount of debt incurred by the dental student just to get to the point where they can be at a break-even point. 

There is no doubt that the alternative lending space and specifically those that focus in the dental category can help the emerging dental practice. Whether it its financing marketing expenses or simple capital improvements, the opportunities are there. Silver Rock Funding has emerged among numerous options as a destination for the savvy dental practice owner looking for a small business loan or funding. From our cutting-edge technology to our rapid growth, Silver Rock has helped dentists get the funding they deserve to grow. 

Making a Plan: How Entrepreneurs Win on the Weekend

So you are about to kick back and enjoy the weekend right? Easy afternoons and margaritas? Well, for most business owners you know the work never stops. Whether it's dealing with employees, buying merchandise or strategic late night planning, being the boss is tough. Small businesses are tough, enigmatic and can keep you up at night and we know that. So what does that mean for you? You have to start keeping your weekends organized too.

A great article in Business Insider dove into this exact concept and we highly recommend it for our entrepreneurs and small business owners out there. One of the great takeaways was to keep a schedule during the weekend--even if that's the last thing you want to do:

Former Arkansas Governor Mike Huckabee says you need to have a plan for the weekend, setting specific hours or minutes aside for activities you want to do.Then you have to commit.
Huckabee advises: "If you know you want to read a book, then get the book out and have it set aside and make plans to read it. Say it's going to be at 1. When that starts, get on it. Don't wait until that afternoon, then think — could I read? Or listen to some music? Or take a walk? Then you'll sit about wasting an hour of what little time you have figuring out what to do with the rest of it."
You have to be disciplined and commit to the decisions you make. 

However you are going to spend the weekend is your business--just maybe make a plan?

Healthcare and Social Assistance - Loans

The health care industry is one of the largest single industries in the world with over $1.668 trillion in annual revenue according to some recent estimates. Furthermore with nearly 800,000 companies in the space, the growth within this sector is astonishing. While companies continue to find revenue opportunities in this industry, costs do add up for assisting in growing these companies. At Silver Rock Funding we have found exciting and innovative ways to work with many businesses in this category get funding for things like:

The healthcare industry continues to grow.

• Office improvement and relocation
• Expansion of an existing practice
• Sales and purchases
• Business debt consolidation
• Commercial real estate
• Equipment financing      

Regardless of your credit situation there are programs available through Silver Rock Funding that help businesses in the healthcare and social assistance loan space. If you make at least $10,000 a month currently and own your business we can get you pre-approved for a loan. You could get your firm between $5,000 and $500,000 to grow your company. Let us know how we can help your firm today at Silver Rock Funding.

Exciting Times at Silver Rock Funding

Over the last 50 days, Silver Rock Funding has matched businesses up with over $2 million 

in funding. Business owners if you’re ready to grow your firm, Silver Rock Funding can help. Whether its getting cash for expansion, renovation, equipment, payroll or something else, Silver Rock Funding is here. 

From the doctor's office to the limo driver, Silver Rock Funding has been able to help businesses of all kinds grow. If you own an existing business and have been making at least $10,000 a month and need cash, then Silver Rock Funding may be able to help. We all know that business lending has become increasingly difficult with banks, credit unions and other funding sources tightening their lending criteria-that's why Silver Rock Funding is here. 

Learn about Silver Rock Funding and experience the Silver Rock difference today. 

Car Dealer Business Loans - Fact or Fiction?

We've told you about how car dealerships are occasionally a tough space to get business funding for.

We've also seen how the banks have somewhat abandoned the small business owner to the point that funding rates from the banks have almost completely evaporated. So what does that mean for the car dealer who is still looking for answers? Give up? Didn't think so. With Silver Rock Funding, you have the opportunity to look at new ways to finance and alternative lending sources. Just like the good salesmen and the bad salesmen working your sales floor--some lenders are better than others. Consider the differences in behavior according to the Joe Verde Group:

72% of customers tell their salesperson they are “just looking” at the initial greeting.
71% of customers say they bought their vehicle because they like, trusted and respected their salesperson.
85% of consumers say their salesperson DID NOT control the sales process, build any rapport or interviewed their sales person.
88% of customers said they received a lousy presentation and demonstration.
50% of customers said they bought on the spot when they got what they felt was a good presentation and demonstration.
93% of customers did not get a service walk as part of the sales process.
94% of salespeople are not confident of the price in the close.
90% of sales people DO NOT do any follow-up whether the customer purchases or not.
82% of customers cannot remember the sales persons name 1 year after their purchase.
78% of customers who visit your showroom buy a vehicle somewhere.
85% of customers made up their mind to purchase a vehicle before they left their house.
38% of customers purchase within 4 hours of visiting their first dealership.
57% of consumers purchase within 3 days of visiting their first dealership.
90% of customers purchase within 1 week of visiting their first dealership.

30% of customers have a family member who will purchase a vehicle in the next 90 days.

When it is time to get started on a small business loan, we could help provide you with the financing you need. You could be approved within 24 hours and you could have funding in your account in as little as 72 hours.

Your car dealership loan is a safe and easy way to get the small business loan and alternative funding you are looking for. For most small business loans, you are going to need to submit six months of bank statements and three months of merchant processing statements.

Pizza Business Loans?

Who needs a business loan to get a slice of pizza? Well, no one. But from franchises to mom and pop Pizza shops, Silver Rock Funding has been helping pizza joints get cash for expansion, renovation and even new ovens. Since opening our doors in 2014, Silver Rock Funding has helped businesses get access to over $6 million in funding and restaurants are a big reason why. Pizza shop loans sound like a crazy concept, but consider this: the pizza industry brings in $32 billion a year and there are over 70,000 pizzerias in the United States. So what does that mean for you as a business owner looking for funding? Well, we've done this before and you aren't alone. With affordable options to work around your budget and structure, Silver Rock Funding is able to work with you to get you the cash you need and deserve.

Additionally, the pizza industry is dominated by the independent--which is good news for those of us that like to support the little guy out there. Not everything is Pizza Hut and Domino's, after all. Although, if you watch TV and specifically NFL games, you know it does kind of feel like Papa John's is everywhere!