Kids and teens aren’t the only ones with back to school needs, business owners are searching for back to school business funding, too.
Back to school business funding is a loose term that refers to the end of summer needs that business owners have. Seasonal business owners often find, depending on the industry, that their needs for business funding fall either at the start of the summer season or the start of the holiday season.
Non-seasonal businesses often experience end of summer demand spikes that require back to school business funding.
Why businesses need back to school business funding
The need for back to school business funding arises for the same reason there is a summer slump that slows down sales. People are returning from vacations and getting back into their normal lives, hiring picks up again, and the ripple effect created from regular back to school shopping reaches into many industries.
Back to school shopping for elementary school, middle school, high school, and college highly impacts the retail industry, which often has slow sales in the summer when less people are at malls. The retail industry effects manufacturing, marketing, transportation, food and beverage, finance, and more.
Overall, companies are settling back into normal business operations as sales increase and employees are returning from vacations.
What it’s used for
Back to school business funding is used for a variety of assets depending on the industry. Since retail is the biggest industry affected, a boost in working capital is primarily used for:
- Staff needs and payroll
- Starting new projects
- And more!
The early fall is also the time when businesses would start any other projects they need to have done before the holiday rush ties up all free time and cash flow. If a project isn’t done by late October, with or without funding, cash flow could be strained for the holiday season which could result in a major loss in profit.
How to get it
FundKite is ready to fund businesses in need of back to school business funding! The back to school rush is right around the corner so if you’re finding you need fast funding for a boost in working capital, we can get it to you in less than 72 hours.
First, go to this link to apply.
Once we have your basic business information, we will contact you to discuss your business and potentially make an offer.
To make an offer, we require minimum 520 business credit score, minimum $30,000 in monthly revenue, minimum 6 months in business and can fund $20,000 to $2,000,000 amounts.
FundKite offers several programs for different styles of funding depending on your cash flow. Call us today to learn more and receive a free quote, no application fee or credit check!