BLOG – Your First Time Applying for Funding

What an achievement! You’ve started your first business… or perhaps you’re growing it and need access to cash to grow.  Irrespective, many small businesses, startups and young entrepreneurs find it challenging when applying for business financing or funding to achieve their goals. Most of these small businesses in South Africa are “unbankable” as they don’t seem to have a track record or financial history. Don’t be deflated or overwhelmed. Make use of alternative funding solutions like ours. That’s the fundamental reason for ProfitShare Partners’ birth; we exist to fund small businesses, thus ensuring inclusive economic growth.

BLOG – Your First Time Applying for Funding, ProfitShare Partners

What is funding, and how does it work?

Funding allows you to give your business the boost it needs to pay for purchase orders or fulfil contracts from large established corporates. This access to funds allows small businesses to procure resources needed to fulfil the order without selling shares in their business to raise the capital. At PSP, we merely take an agreed share of the profit per transaction. We have a team of experts that help you throughout the process, and eventually, we groom our clients to be “bankable.” As a business owner, this is undoubtedly reassuring and gives you the confidence to apply for alternative business funding.

BLOG – Your First Time Applying for Funding, ProfitShare Partners

Let’s get the feelings out the way.

Have you applied for funding before? How did you feel? Were you nervous and more stressed than you already were? Were you confused and overwhelmed? Or are you planning to apply for funding and need guidance. Whatever it is, we’d like to share some guidelines about your first time and help you overcome the fears and challenges.

BLOG – Your First Time Applying for Funding, ProfitShare Partners

Time to do the homework.

If you’re a young business, then the likelihood of getting funds from a bank are slim to none. Don’t despair though, ProfitShare Partners provides funds to small businesses who have secured a Purchase Order (PO) or contract with a large corporate. There are other options to get access to cash for your business. All you have to do is ensure that you’re looking in the right places – like our website, for starters. We also have a team of experts that can help you through the application process and the deal. Reach out to them for advice: queries@profitsharepartners.com

BLOG – Your First Time Applying for Funding, ProfitShare Partners

What are the qualifying factors?

Now that you know that there are alternative funding solutions at your disposal, you can understand what the requirements to apply are. If you’re applying for a healthy sum of funding, you can imagine that the deal’s details are critical. Check out how much cash you can access and the documents required before you go through the application process. You can eliminate the feeling of anxiety by being prepared before completing the application process.

BLOG – Your First Time Applying for Funding, ProfitShare Partners

Who do I contact if I get stuck?

You may want to speak to someone to help you through the process, to help you get answers to questions that you may be unclear of or even if you have a complex order. Never fear when PSP is near. Reach out to our supportive and friendly team of experts at queries@profitsharepartners.com, and they will swiftly respond to your query with a helpful response.

BLOG – Your First Time Applying for Funding, ProfitShare Partners

Now it’s time to apply.

You’ve reached the stage where you’ve overcome the nerves of applying, done the homework, understand the application process, and cleared any queries with the team. Here comes the exciting part! All you have to do is complete an easy online application on our website (In only 10 minutes), and our team will give you a yay or nay in less than 48 hours. If you receive a thumbs up from the team, you can expect payout in just 7 days for first-time applicants.

BLOG – Your First Time Applying for Funding, ProfitShare Partners

When you look at it, it’s not that overwhelming at all. We have state of the art technology, a supportive team and an excellent track record helping SME’s in South Africa. It’s all designed to assist you in achieving your business goals. We care about your business doing more business. We hope this blog helped you gain confidence in taking the stride to apply for cash for your business to grow and take it to the next level.

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