The very first question arises in your mind is what is cash crunch and how does it come? When an organization does not have the money to function their own business positively or in the normal way, this situation is simply called a cash crunch. In this blog, you will learn to survive using a crash crunch with QuickBooks Funding Apps.
Obviously, cash is the primary need of any business, but when you want the cash to outspread your business, cash flow is low, or face the cash crunch. Then your business will become cash-challenged. Additionally, some reason is also answerable for crush crunch such as longer Account Receivable cycles, a volatile sales cycle, and is responsible for the needs of a fast-growing business.
Short-term cash crunch for any small business is the most challenging time because of the rapidly growing business slowdown and because of this reason, we go through some other issues related to business.
The main thing for surviving the crunch in business is using a small business loan. Invoice factoring is a method to take out a short-term small business loan, a way of credit, or other types of financing. Now the question that will come to your mind is How to use invoice factoring for business? It assists you when you need it or when you are waiting for funding. For example, if a customer pays sluggishly and your business has huge remaining invoices or receivables at that time factoring can offer you the funding. Here, you will get all the information about the Cash crunch and the related QuickBooks apps. For detailed information, contact QuickBooks Support. Experts will help you out with your problem and suggest to you tips to get rid of it.
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How to deal with Cash crunch?
QuickBooks Online will help you to fix this problem. You can connect the QuickBooks apps with the QuickBooks online and accomplish small businesses. Fund box, Blue Vine and QuickBooks Financing are small business financial apps.
To know more, download these apps and sync with QuickBooks Online. The App will access your QuickBooks data and give you information about financing like your business qualifies for financing and what is your credit limit.
The apps have numerous funding options. The providers will let you know which of their funding products are available to you. These apps recommend more traditional small loans or aid demystify invoice financing and start-up loans.
When you download these apps, connect with QuickBooks online or Create an account in QuickBooks Online. Keep in mind that the data that you provide should be up to date. Accomplish the business criteria with each provider and go through the terms of the loans product before you move further. Go for the best suitable option in apps and go in-depth knowledge of apps. After that, start your work on it.
Here are the 3 apps for small financing businesses.
1. Fundbox:
Fundbox offers the flexible funding that you need to grow and a rational line of credit that provides a small business. It does not take extra time to connect with QuickBooks accounts.
When a QuickBooks account gets connected with Fundbox, obtain a funding decision in hours and if approved, get funds as soon as the next business day. After approving a fund, your Fundbox dashboard displays the full list of your QuickBooks invoices. Now, you are able to select the ones that you want to advance with your Fundbox credit, all are from the QuickBooks account.
All the business users pay a fee for the fund box weekly or pay a flat and the full amount as advance at any time.
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2. BlueVine:
If you need fast funding for your business access the BlueVine app.
BlueVine offers two options for the small businesses
- Factoring
- Credit lines
Important features of the BlueVine app:
- Firstly, apply online. It connects in less than 10 minutes and approves within 24 hours.
- Provide your invoice or automatically sync it with your QuickBooks account and after that, upload invoices to your dashboard.
- One of the features BlueVine offers is the money upfront and the remaining fees directly minus BlueVine’s fees when the invoice is paid.
- Many people rely on BlueVine because they feel secure with this app.
- It sets up a bank account and P.O. Box in the business name and you will get paid directly from your client. BlueVine Factoring Offer approved $2.5 million for customers and you can get it within 48 hours in certain cases.
- In the case of QuickBooks customers, the standard current rate is 5-6 percent per week.
- The BlueVine line of credit gets approved within 20 minutes. BlueVine dashboard aid you to request funds Drawing funds and receive cash in your bank account within hours.
- Payback apiece draws with fixed monthly or weekly payments over 6 or 12 months.
- The line of credit is obtainable when you need it or when you have a cash crunch. BlueVine also provides credit lines up to $100,000 in equal or monthly payments.
Services:
- All these above steps will help you to explain the ways to deal with a cash crunch with QB funding apps. Additionally, you may need some technical assistance.
- To aid you in need, our technical support team for solutions is always available.
- You can feel free to get in touch with our experts 24*7.
- Also, You can choose to either chat with us live or email us according to your convenience.
- You can also call the QuickBooks support team at +1-520-463-7633 for a customized service on your problems.
3. QuickBooks Financing:
QuickBooks Financing have clever financing options
- Term loans
- Invoicing financing
- Lines of credit
- Small business Administration loans and many more
In this app, all the things are in one place. It provides a better option for your business. You can easily manage cash crunch with the QuickBooks Financing app. Simply, login to the app and go for the best suitable option for you. Accomplish the criteria of the business, take permission, and after approving you will get funded within 24 hours. It helps when you suffer a cash crunch and it maintains your business gap. BlueVine and Fundbox are not offered by Intuit but QuickBooks financing is licensed as Intuit financing.
So, these are all about the cash crunch and its related apps. If you face any difficulty in understanding this, dial the QuickBooks Support Phone Number. Experts will talk to you and give you the proper solution.