We are passing through the most critical time for business and finance as many analysts are predicting another economic recession is inevitable. One end-result would be scarcity of cash that will have a significant impact on Diverse Business Enterprises (DBE).
DBEs know cash is the life force of a business. According to a US Bank Study, 82% of business failures occur either due to poor cash flow management or poor understanding of how cash flow contributes to the business. At every step, from establishing a business to operations and expansion, cash is the driving force that controls every action. But the major issue DBEs face is the reluctance and unwillingness of banks to lend them money.
The Council for Supplier Diversity strives to facilitate DBEs securing the cash they need to sustain and prosper by connecting them with companies and financiers who have an interest in investing in small and diverse businesses. These lenders are selected based on their expertise and insight into supporting DBEs. You can keep staying at the point where you started by managing things on a day-to-day basis or you can plan big by benefiting from the Council for Supplier Diversity’s business lending services.
Take a look at the following opportunities made available to you with additional cash flow:
- Business Growth. Growth of any business is impossible without additional cash to spend on new possibilities. Marching towards any goal requires cash and once you have it, you are unstoppable.
- Bidding for new projects. DBEs thrive by winning new contracts and for bidding on new contracts you need cash to deposit before bidding. The additional cash makes it easier for you to bid on new projects.
- Cover losses or emergencies. Business and losses are like day and night; always chasing each other and there is no way to survive a loss or emergency without cash.
- Funds marketing budgets. You offer excellent services and products but potential customers do not know about them and the only way to build a strong brand image and credibility is by launching a formidable marketing campaign that needs money. Additional cash is always handy to supplement your marketing campaigns.
- Inventory building. The efficiency of a business depends on always-updated-inventory but it can’t be done without cash. You can build a robust inventory to push your business towards a higher trajectory if you have sufficient funds.
- Equipment acquisition. Adequate equipment empowers your team to drive the business forward efficiently and effectively. You need regular upgrades to and purchase of new equipment to stay ahead in your field and you can only do it if you have cash.
- Reinvention and remodeling. Being stuck with the same business model brings down even the biggest of empires. Constant remodeling is essential to stay relevant and the availability of cash makes it possible for businesses to do so.
- Operational expansion. Even if you are starting a business in a backyard, you would want to expand it globally. Hard-work, strategic planning, hardcore marketing and sufficient funds are what you need to realize your dreams.
- Cash flow management. Nobody needs to be educated on the importance of cash flow management for a business but no matter how precise your finance team goes by, issues arise with the cash. But with additional money on your side, you can let go off all our worries.
- Keeps you competitive. Competition never slows down rather it intensifies with the arrival of each new player in the business and with enough money by your side, you can’t complain of not being competitive due to cash deficiency.
It suffices to say that additional cash is critical for the smooth functioning of your business. The Council for Supplier Diversity’s business lending services can be the lifeline for all the diverse business enterprises.
The Council for Supplier Diversity can Help You Secure Lines of Credit
We can help you obtain the funding you need through our network of traditional and non-traditional lenders. Our lenders are industry leaders selected based on quality of product, and their willingness to offer special solutions to our diverse businesses. A high percentage of borrowers obtain the loans they need.
How it works:
- Our service is FREE to registered diverse suppliers
- All connections are based on your answers to a short survey
- After you submit the survey, we connect you to lenders based on your profile
In addition to traditional lending, we have resources to help you regardless of industry, time in business, credit score, or most other reasons you may have been declined before.
Fill out this short form to get started – For Asset/Receiving Financing – or give us a call at (858) 537-2281.