Alternative Funding Options for Small Kansas City Businesses in Growth Mode - Kompass Funding

Alternative Funding Options for Small Kansas City Businesses in Growth Mode

Covid-19 changed the landscape for small businesses around the country and especially in Kansas City. “The Payment Protection Program (PPP) was a good band-aid, but now small businesses are really looking for that growth capital and it’s been a challenge for them to find that,” according to John Minnis, CEO of Kompass Funding.

Traditional funding isn’t as accessible as it used to be. And, although every small business can’t qualify for a bank or SBA loan, there are other ways they can access capital – solutions they may not even know exist. In this podcast, Minnis and Abigail Nolte, operations manager with Kompass Funding, share their insights on small business funding options.

Listen to this podcast to hear about:

Some of the biggest challenges small business owners are facing in Kansas City today.

What alternative funding solutions are available – from bridge loans to invoice factoring programs – and how to figure out which one is best for your business.
The top three characteristics business owners should look for when considering a lender.
A temperature check on the economy.

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SMBs face roadblocks seeking credit insurance. Here’s how alternative funding solutions can help

We recently wrote about recessionary fears and rising inflation; to counter these fears, many business-to-business (B2B) companies are considering trade credit insurance (TCI), an important risk management tool for small to mid-sized businesses (SMBs) that sell goods or services on credit.

How much should business owners worry about recent bank failures?

Since March 10, two large banks have collapsed; first Silicon Valley Bank (16th largest bank in the U.S. based on assets, and second-largest bank failure in U.S. history) followed by New York-based Signature Bank, the third largest bank failure to date.

With recessionary fears looming, here’s how SMBs can prepare for what’s ahead

Considering the current economic climate, the rate of inflation and a potential recession looming, preparing workable solutions to implement ahead of financially stringent times is imperative for small and mid-sized businesses (SMBs) who don’t have the resources and financial stability of larger organizations. Because of these limitations, traditional financing options from bank loans to lines of credit aren’t always accessible or sufficient.

Get the funding you need, when you need it.

Give us a call to discuss your business funding objectives, so our advisors can show you examples of similar businesses leveraging cash-flow solutions to scale their business quickly.

You can customize and manage how you want to factor with Kompass Funding, so you get the funding you need, when you need it. Our clients can even avoid waiting 30 to 60 days for your customers to pay invoices, we pay you the amount of the invoice within 24 hours and assume the risk of collection.

Now you can focus on growing your business.

Let's talk.
Call us at 913-728-0530

Or email us at clientsupport@kompassfunding.com

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