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.