Lack of cash flow is one of the most commonly cited problems faced by small business owners, especially for seasonal businesses or businesses that rely on invoicing or have long accounts receivable periods.
Sometimes, small businesses need an infusion of working capital to keep up with industry changes and continue to grow and pass on the benefits of their growth to their communities. Funding is available from traditional lenders like banks, and some industries and regions can apply for grants or special financing programs, but the application process for these funding options can take months, and there’s no guarantee of approval. Most applicants are rejected, especially for small loans for small businesses, businesses that operate in a high-risk industry, or businesses have low credit.