Cashsolv has never considered itself to be a standard business loan provider. In most cases, even if we are unable to provide business finance, we may be able to help in one way or another. We often receive comments on how we are different to a service that they have previously received. Our clients explain that when they are discussing their difficulties, they consider us not just a lender but a business professional who is keen to find the right solution for them.
The rise of the ebay business
With the rise of the internet there are more businesses then ever operating without physical premises. The internet allows entrepreneurs to offer their products to the world whilst incurring very little by way of start up costs and Ebay is a prime example of this. Thousands, even hundreds of thousands of businesses operate from the platform provided by Ebay and many of which are very profitable and successful.
Reliance on delivery companies causes problems with refunds
We have recently had the pleasure of helping such an innovative business. We were contacted by an Ebay bicycle shop that had found itself in difficulties as a result of the insolvency of a well known postal delivery company, whom it heavily relied upon. As a result of the stop on deliveries many customers had not received their bicycles and accessories as they were being held at depots around the country. The result of this problem was the potential of refunds having to be made to customers which would severely affect the company’s cash flow.
Potentially making matters worse, we all aware of Ebay’s very effective feedback system. Ebay buyers can rate the seller and leave comments, both negative and positive. Receiving negative feedback is not great for any business, however when it is broadcasted on the walls of your shop it can have a devastating effect.
Through no fault of its own the bicycle shop found itself in a crisis. The products that were in transit with the postal company were all but lost and the customers who were expecting receipt of products were holding the bicycle shop responsible. It was essential that the company resolved the unsatisfied customers in a prompt manner to avoid negative feedback posted to the shop. To limit the effects of the situation the director understood that he needed to provide customers with a refund or receipt of the products ordered, and paid for, by the customers.
Short term business loans can bridge the gap
The director of the company sought our advice and support. We discussed the various possible solutions and agreed that short term business loans were way forward. We understood that quick action was required to try to limit the negative feedback or bad publicity being received.
Traditional lenders often look at asset values within their customer’s businesses and some are perhaps not as well adapted to the new style of virtual businesses. At Cashsolv we understand that despite these companies not owning significant assets they can still be successful and viable borrowers.
For further information Download our Guidance Paper on 'How short term business loans can help your business finance problems', or view the following relevant pages:
- Business loans
- A guide to Short term business loans
- Emergency business loans
- Emergency business loan - why not use a bank
- A guide to Small Business Loans
- How quick business loans can encourage business turnaround
- How to get a quick business loan
- The pros and cons of secured business loans
- How to make business finance work for you
- A case study: How we helped a recruitment firm invest for growth
- A case study: Quick business loans could be the answer
- Business loan calculator
- Construction Finance