Whether you are a bakery, beauty salon, auto shop or some other small business, cash flow may often be an issue. Revenues can be short in a month but there is no less demand from suppliers who demand to be paid. Or you have a business opportunity to take advantage of, or you need to scale up to stay competitive, but you lack the funds to go forward.
Yes, you can go to a traditional financial institution but the loan process can be complex, time consuming and judged by narrow credit criteria alone.
Payfirma is proud to partner with BillMarket, to offer our merchants financing up to $300,000, with most approvals coming within 24 hours.
BillMarket is an innovative financing solution combining the powerful insights of Equifax, the consumer reporting credit agency, and Thinking Capital, the Canadian leader in providing alternative financing solutions for small businesses.
With BillMarket, you can quickly get access to the capital that your business needs for growth and survival, with a simple online approval process and flexible repayment terms.
How BillMarket’s Approval Process Works
To get approval and find out how much financing your small business is eligible for, just click the link to the BillMarket page. Answer a few simple questions about you and your business and you will instantly see your Equifax Small Business Grade, which is used to show how much you can borrow.
Once your small business is “certified,” you can have access to loans that can range from $5,000 to $300,000, with a choice of short and longer repayment options – 60 days up to 12 months!!
While different financial institutions use different criteria to decide loans, Thinking Capital has its own, which do not solely depend on credit score. It will analyze many aspects of your business, including future earning potential, and can often offer financing with different pricing terms. (In some cases with credit issues, a co-signer may be required).
During the online application process, you will be prompted to connect your bank account, or provide your bank statements. BillMarket requires a minimum of three months of data in order to determine how much financing you are eligible to receive.
BillMarket is available to Canadian businesses, in operation for a minimum of six months, with average monthly card sales of at least $7,000.
The Benefits of Using BillMarket
Once signed up for BillMarket, you can get up to $300,000 in hassle-free working capital – with repayment terms tailored to your needs – to invest back in your company, whether it is to increase your sales force, buy larger processing facilities or for some other important business reason.
Or, it takes just one click to get suppliers paid on time (when your suppliers are signed-up on the platform). From your online dashboard, simply indicate what is due to whom and the platform will make the payment for you, helping to improve your business with stable cash flow, increase your buying power and make timely payments on your own terms.
With BillMarket, you can get the capital you need now, or have it at hand when you require it down the road. It will quickly pay to start the application process now.