Borrowing – 20th CVETSMEM Mon, 21 Nov 2022 09:31:00 +0000 en-US hourly 1 Borrowing – 20th CVETSMEM 32 32 How Trade Finance is Helping to Elevate the Next Generation of Kenyan Businesses Mon, 21 Nov 2022 09:05:13 +0000 As a little Company homeowner, you know your local limits when accessing loans or other interim financing options just to cover the cost of property you intend to buy or sell. Importance of trade finance. Photo: Cooperative Bank.Source: Twitter There are many ways to obtain financing for your business, but not all of them offer […]]]>

As a little Company homeowner, you know your local limits when accessing loans or other interim financing options just to cover the cost of property you intend to buy or sell.

Importance of trade finance. Photo: Cooperative Bank.
Source: Twitter

There are many ways to obtain financing for your business, but not all of them offer you multiple advantages, because trade finance Is.

Many banks do not offer overdraft or ready protection for such transactions, even if you have a confirmed order for the products or goods.

Plus, you also don’t want to buy goods and they end up taking weeks or months to arrive from the international manufacturer.

It just ties your money to shipping, leaving your business stagnant and your bank accounts dry.

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On the other hand, if you are a large exporter, you don’t have the luxury of waiting for your export goods to arrive at a distant destination weeks or months later before getting paid.

Whether you run a small business importing your first batch of private label products from overseas, or a multinational managing massive inventory globally every year, trade finance makes import and export transactions possible. .

That’s why at least 80% of global trade depends on trade finance, to keep goods flowing even when business owners don’t have the cash to fund transactions themselves.

How Trade Finance Works

It’s simple: a commercial intermediary – bank or other lender – supervises and facilitates the various transactions between the importer (buyer) and the exporter (seller).

The intermediary, for example the Co-operative Bank of Kenyawho offers trade finance solutions—intervenes to finance the transaction between you and the seller, whether in the country or abroad.

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Trade finance involves several different parties: buyer, seller, financier, insurers and export credit agencies. It also covers a wide range of activities, which often include:

● Letters of credit, sent to the seller’s bank by your bank, which guarantees that the seller will be paid if all the required documents are available to confirm that the goods meet the conditions.

● Commitment or tender bonds, which your bank issues as security to the bidding organization to confirm that you will sign the contract if it wins an advertised tender.

● Performance bonds, which act as a guarantee to the contracting party, once your bid has been accepted, that you will perform the contract.

● Guarantees, which include prepayment (secured by cash, property, treasury bills, etc.), credit and bank/immigration security guarantees that you will comply with import regulations.

● Commercial loans, such as LPO or contract financing, invoice discounting, pre-import/pre-shipment/pre-export financing and post-import financing

All of these solutions are designed to help you grow your business by providing you with the extra cash to invest in the assets you need to thrive.

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For example, if you are interested in binding bonds, Co-op Bank can give you binding unsecured bonds of up to KSh 20 million at 1-2% of the tender amount.

This is available if you are negotiating with business, government, NGOs or parastatals and you will receive the amount within 30 minutes of submitting your application.

What you need to get Co-op Bank business financing for your business

Accessing the above trade finance products from Co-op Bank is easy, as long as you submit the required documents, including:

● A completed application form

● A copy of the tender notice

● Your national identity card

● KRA PIN certificate and Tax compliance certificate

● Memorandum of understanding and statutes

● Certificate of Companies Registry (CR12)

● Bank statements (at least 12 months old) for other bank accounts held by your company or related companies

Once these documents are ready, you can be assured that Co-op Bank’s experienced trade finance team will review them and contact you with instructions on how to proceed.

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The bank has the best solutions to ensure that your business continues to win, no matter what stage it is at.

Check The range of trade finance solutions from Co-op Bank for importers and exporters who can help you transact locally and internationally while facilitating the movement of goods and services and efficient trade.


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Wells Fargo has an affordable answer to a terrible loan product Fri, 18 Nov 2022 20:51:21 +0000 For many Americans, living paycheck to paycheck is a reality. Saving a little money at the end of the month to pay the next month’s rent is usually a big financial challenge. Other bills such as cars, electricity, insurance, telephones and internet connectivity require payments that must be timed delicately to avoid penalties such as […]]]>

For many Americans, living paycheck to paycheck is a reality.

Saving a little money at the end of the month to pay the next month’s rent is usually a big financial challenge.

Other bills such as cars, electricity, insurance, telephones and internet connectivity require payments that must be timed delicately to avoid penalties such as late fees or service interruptions.

Then, groceries, gas, and maybe even a little entertainment add up to growing monthly budgets.

For many people, increasing credit card debt creates more pressure on their ability to make those payments.

FRESH VINE WINE, INC. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q) Mon, 14 Nov 2022 21:07:08 +0000 The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and related notes to those statements as included elsewhere in this Quarterly Report on Form 10-Q. In addition to historical financial information, the following discussion and analysis contains forward-looking statements that involve risks, […]]]>
The following discussion and analysis of our financial condition and results of
operations should be read in conjunction with the financial statements and
related notes to those statements as included elsewhere in this Quarterly Report
on Form 10-Q. In addition to historical financial information, the following
discussion and analysis contains forward-looking statements that involve risks,
uncertainties, and assumptions. See "Cautionary Note Regarding Forward-looking
Statements" included elsewhere in this Quarterly Report on Form 10-Q. Our actual
results may differ materially from those anticipated in these forward-looking
statements as a result of many factors, including those discussed in Part I
"Item 1A. Risk Factors" included in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2021.


Fresh Vine Wine, Inc. (the "Company") is a premier producer of low carb, low
calorie, premium wines in the United States. Founded in 2019, Fresh Vine Wine
brings an innovative "better-for-you" solution to the wine market. We currently
sell seven proprietary varietals: Cabernet Sauvignon, Pinot Noir, Chardonnay,
Sauvignon Blanc, Rosé, Sparkling Rosé, and a limited Reserve Napa Cabernet
Sauvignon. All varietals are produced and bottled in Napa, California.

Our wines are distributed across the United States and Puerto Rico through
wholesale, retail, and direct-to-consumer (DTC) channels. We are able to conduct
wholesale distribution of our wines in all 50 states and Puerto Rico, and we are
licensed to sell through DTC channels in 43 states. As of September 30, 2022, we
hold active relationships with wholesale distributors in 48 states, up from 43
states as of June 30, 2022, and currently have additional states in which
licensing is pending. We are actively working with leading distributors,
including Southern Glazer's Wine & Spirits (SGWS), Johnson Brothers, and
Republic National Distributing Company (RNDC), to expand our presence across the
contiguous United States.

Our core wine offerings are priced strategically to appeal to mass markets and
sell at a list price between $15 and $25 per bottle. Given the Fresh Vine Wine
brand's celebrity backing, "better-for-you" appeal, and overall product quality,
we believe that it presents today's consumers with a unique value proposition
within this price category. Additionally, Fresh Vine Wine is one of very few
products available at this price point that includes a named winemaker, Jamey

Our marketing activities focus primarily on consumers in the 21-to-34 year old
demographic with moderate to affluent income and on those with a desire to
pursue a healthy and active lifestyles, which is reinforced through our sports
marketing partnerships across all four major United States professional sports

Our asset-light operating model allows us to utilize third-party assets,
including land and production facilities. This approach helps us mitigate many
of the risks associated with agribusiness, such as isolated droughts or fires.
Because we source product inputs from multiple geographically dispersed vendors,
we reduce reliance on any one vendor and benefit from broad
availability/optionality of product inputs. This is particularly important as a
California-based wine producer where droughts or fires can have an extremely
detrimental impact to a company's supply chain if not diversified.

The Company delivered strong first half 2022 top line operational results and is
looking forward to inclusion in future seasonal retail resets for both large and
national chains. The Company has heavily invested in inventory through September
30, 2022, specifically through advanced purchases of wine in response to
increased demand, as well to support the introduction of new varietals in 2022
including Sauvignon Blanc, Rosé and Sparkling Rosé. The Company believes that
this increase in inventory will allow the Company to meet balance of year and
early 2023 demand as well as mitigate supply chain risks the industry is facing.
The Company has added headcount in the first and second quarters of 2022 to
support operational growth and national sales distribution while also
maintaining a cash preservation plan. See note 15 to the accompanying financial
statements for additional information on the Company's cash preservation


Key Financial Metrics

We use net revenue, gross profit (loss) and net income (loss) to evaluate the
performance of Fresh Vine Wine. We also use the non-financial key metrics of
cases sold and point of distribution (PODs). For the quarter ended September 30,
2022, Fresh Vine Wine branded offerings sold approximately 6,200 cases of wine
(approximately 310,000 5oz glasses), compared to 6,200 and 8,400 cases in the
first and second quarters of 2022, respectively. The Company added 4,649 PODs in
the nine months ended September 30, 2022, bringing total PODs to 5,560, up from
911 PODS as of December 31, 2021. These metrics are useful in helping us to
identify trends in our business, prepare financial forecasts and make capital
allocation decisions, and assess the comparable health of our business relative
to our direct competitors.

                    Three months ended                 Nine months ended
                       September 30,                     September 30,
                   2022             2021             2022              2021
Net revenue    $    535,584     $    546,621     $   2,484,086     $  1,050,765
Gross profit   $    (65,962 )   $    223,810     $     434,436     $    343,692
Net loss       $ (2,560,040 )   $ (1,531,046 )   $ (11,405,173 )   $ (8,094,635 )

Components of operating results and trends that could affect our results of operations

Net Revenue

Our net revenue consists primarily of wine sales to distributors and retailers,
which together comprise our wholesale channel, and directly to individual
consumers through our DTC channel. Net revenues generally represent wine sales
and shipping, when applicable, and to a lesser extent branded merchandise and
wine club memberships. For wine and merchandise sales, revenues are recognized
at time of shipment. For Wine Club memberships, revenues are recognized
quarterly at the time of fulfilment.

We refer to the volume of wine we sell in terms of cases. Each case contains 12
standard bottles, in which each bottle has a volume of 750 milliliters. Cases
are sold through Wholesale/Retail or DTC channels.

The following factors and trends in our business have driven net revenue results
since January 1, 2021, and are expected to be key drivers of our net revenue for
the foreseeable future:

Brand recognition: As we expand our marketing presence and drive visibility
through traditional and modern marketing methods, we expect to build awareness
and name recognition for Fresh Vine Wine in consumers' minds. Brand awareness
will be built substantially through social media channels, where we are able to
immediately access more than 30 million potential consumers through our
celebrities' Instagram and Facebook platforms. Additionally, it will be built
through complementary sports marketing partnerships across the National Football
League, National Hockey League, National Basketball Association, and Major
League Baseball.

Portfolio evolution: As a relatively new, high-growth brand, we expect and seek
to learn from our consumers. We will continuously evolve and refine our products
to meet our consumers' specific needs and wants, adapting our offering to
maximize value for our consumers and stakeholders. Our growth mindset, coupled
with our differentiated production and distribution platform, will enable us to
accelerate growth and deliver on our value proposition over time.


One way in which we will evolve our portfolio is through product extensions.
Fresh Vine Wine added a sixth varietal, Sauvignon Blanc, late in the second
quarter of 2022 and seventh varietal, Sparkling Rosé, in the third quarter of
2022, currently offering seven varietals (Cabernet Sauvignon, Cabernet Sauvignon
Reserve, Pinot Noir, Chardonnay, Sauvignon Blanc, Rosé, and Sparkling Rosé)
within its product portfolio. In the future, we can use the same knowledge and
supplier networks to launch new varietals with much greater efficiency than we
were previously able to achieve.

Distribution expansion and acceleration: Purchasing by distributors and loyal
accounts that continue to feature our wines are key drivers of net revenue. We
plan to continue broadening our distributor network, adding new geographies, and
increasing each distributor's average order size as we accelerate growth.

Opportunistic evaluation of strategic acquisitions: With strong internal
knowledge and a depth of experience in private equity and the broader financial
services industry, we intend to maintain a strategic and opportunistic approach
to evaluating acquisitions and growing through acquisition. We will also remain
open to other inorganic growth activities, including joint ventures and
strategic alliances, as we seek to accelerate this business to market. While we
have not identified any prospective targets to date, we consider this a core
competency of our leadership team and believe that this presents us with a
viable growth alternative as we move forward.

Seasonality: In line with industry norms, we anticipate our net revenue to peak
during the quarter spanning from October through December due to increased
consumer demand around the major holidays. This is particularly true in our DTC
revenue channel, where marketing programs will often be aligned with the holiday
season and product promotions will be prevalent.

Revenue Channels

Our sales and distribution platform is built upon a highly developed network of
distributor accounts. Within this network, we have signed agreements in place
with several of the nation's largest distributors including Southern Glazer's
Wine & Spirits and RNDC, among others. While we are actively working with these
distributors in certain markets, they operate across the United States and we
intend to grow our geographic/market presence through these relationships. The
development of these relationships and impacts to our related product mix will
impact our financial results as our channel mix shifts.

? Wholesale channel: In accordance with sales practices in the wine industry, sales

to retailers and distributors occur below the SRP (suggested retail price). We work

in close collaboration with distributors to increase wine volumes and the number of products

sold through their retail accounts in their respective territories.

? DTC channel: Wines sold through our DTC channels are generally sold at the SRP,

although we periodically offer various promotions. Our DTC channel continues

grow due to a number of factors, including the expansion of e-commerce sites

and social media capabilities.

? Services to related parties: We have entered into service agreements with related parties

wine industry stakeholders to ensure representation and distribution

services. These services were suspended in June 2022 to enable the Company

lean team to prioritize growth and expansion of the Fresh vine wine Mark.

Wholesale channel sales made on credit terms generally require payment within
30 days of delivery; however our credit terms with Southern Glazer's Wine &
Spirits requires payment within 60 days of delivery. During periods in which our
net revenue channel mix reflects a greater concentration of wholesale sales, we
typically experience an increase in accounts receivable for the period to
reflect the change in sales mix; payment collections in the subsequent period
generally reduce our accounts receivable balance and have a positive impact
cash flows.

While we seek to increase revenue across all channels, we expect the majority of
our future revenue to be driven through the wholesale channel. We intend to
maintain and expand relationships with existing distributors and form
relationships with new distributors as we work to grow the Company. With
multiple varietals within the Fresh Vine Wine portfolio, we consider ourselves
to be a 'one-stop shop' for better-for-you wines. We continue to innovate with
new products at competitive price points and strive to enhance the experience as
we increase revenue with new and existing consumers.


In the DTC channel, our comprehensive approach to consumer engagement in both
online and traditional forums is supported by an integrated e-commerce platform.
Our marketing efforts target consumers who have an interest in healthy and
active lifestyles. We attempt to motivate consumers toward a simple and easy
purchasing decision using a combination of defined marketing programs and a
modernized technology stack.

Increasing customer engagement is a key driver of our business and results of
operations. We continue to invest in our DTC channel and in performance
marketing to drive customer engagement. In addition to developing new product
offerings and cross-selling wines in our product portfolio, we focus on
increasing customer conversion and retention. As we continue to invest in our
DTC channel, we expect to increase customer engagement and subsequently deliver
greater satisfaction. We also distribute our wines via other wine e-commerce
sites such as and and plan to continue to add affiliate
retail websites.

Percentage of Net Revenue by Channel

We calculate net revenue percentage by channel as net revenue made through our
wholesale channel to distributors, through our wholesale channel directly to
retail accounts, and through our DTC channel, respectively, as a percentage of
our total net revenue. We monitor net revenue percentage across revenue channels
to understand the effectiveness of our distribution model and to ensure we are
employing resources effectively as we engage customers. See Note 2 to the
accompanying financial statements for further details.

Cost of Revenues

Cost of revenues (or cost of goods sold) is comprised of all direct product
costs such as juice, bottles, caps, corks, labels, capsules, storage and
shipping. Additionally, we also categorize boxes and quality assurance testing
within our cost of revenues. We expect that our cost of revenues will increase
as our net revenue increases. As the volume of our product inputs increase, we
intend to work to renegotiate vendor contracts with key suppliers to reduce
overall product input costs as a percentage of net revenue.

Additionally, the Company includes shipping fees in all DTC revenues. These fees
are paid by end consumers at time of order and subsequently itemized within
cost of each individual sale.

As a commodity product, the cost of wine fluctuates due to annual harvest yields
and the availability of juice. This macroeconomic consideration is not unique to
Fresh Vine Wine, although we are conscious of its potential impact to our
product cost structure.

Gross Profit (Loss)

Gross profit (loss) is equal to our net revenue less cost of revenues. As we
grow our business in the future, we expect gross profit to increase as our
revenue grows and as we optimize our cost of revenues. For the three-month
period ended September 30, 2022 the Company experienced a gross loss due to the
timing of revenue recognition as net revenues for product shipped were
insufficient to cover fixed costs such as storage and shipping fees in
combination with variable product costs.

Selling, general and administrative expenses

Selling, general, and administrative expenses consist of selling expenses,
marketing expenses, and general and administrative expenses. Selling expenses
consist primarily of direct selling expenses in our wholesale and DTC channels,
including payroll and related costs, product samples, processing fees, and other
outside service fees or consulting fees. Marketing expenses consist primarily of
advertising costs to promote brand awareness, contract fees incurred as a result
of significant sports marketing agreements, customer retention costs, payroll,
and related costs. General and administrative expenses consist primarily of
payroll and related costs.

Equity-Based Compensation

Equity-based compensation consists of the non-cash expense resulting from our
issuance of equity or equity-based grants issued in exchange for employee or
non-employee services. We measure equity-based compensation cost at the grant
date based on the fair value of the award and recognize the compensation expense
over the requisite service period, which is generally the vesting period. We
recognize any forfeitures as they occur.


Comparison of three and nine months completed September 30, 2022 and 2021

Net income, cost of income and gross profit

                      Three months ended                                         Nine months ended
                         September 30,                  Change                     September 30,                     Change
                      2022          2021            $             %            2022            2021              $             %
Net revenue         $ 535,584     $ 546,621        (11,037 )         -2 %   $ 2,484,086     $ 1,050,765       1,433,321          136 %
Cost of revenues      601,546       322,811        278,735           86 %     2,049,650         707,073       1,342,577          190 %
Gross profit        $ (65,962 )   $ 223,810       (289,772 )       -129 %   $   434,436     $   343,692          90,744           26 %

For the three months ended September 30, 2022, net revenue was flat compared to
the same periods in 2021 due to timing of orders and seasonality. For the nine
months ended September 30, 2022, we experienced an increase of 136% in net
revenue compared to the same periods in 2021. The increase in net revenue for
the nine month period was primarily attributable to our increasing presence in
the wholesale market and additional varietal offerings. In correlation with
increasing sales, cost of revenues during the three and nine months ended
September 30, 2022 increased 86% and 190%, respectively, compared to the same
periods in 2021 due to volumes of shipments as well as higher storage fees.

Selling, general and administrative expenses

                         Three months ended                                           Nine months ended
                            September 30,                    Change                     September 30,                     Change
                         2022           2021             $             %            2022            2021              $             %
Selling expenses      $   296,408     $  92,638         203,770          220 %   $ 1,020,340     $   274,490         745,850          272 %
Marketing expenses        463,541       589,019        (125,478 )        -21 %     2,137,408       1,162,583         974,825           84 %
General and
expenses              $ 1,640,233     $ 613,161       1,027,072          168 %   $ 5,997,700     $ 1,535,459       4,462,241          291 %

For the three and nine months ended September 30, 2022, selling, general and
administrative expenses increased 85% and 208%, respectively, compared to the
same periods in the 2021. Selling, general and administrative expense increases
were largely driven by certain one-time charges associated with the leadership
transition described in Note 6 to the accompanying financial statements, as well
as increases in general and administrative expenses due to higher staffing
headcount and related salaries and additional consulting, legal and financial
expenses as operational activity increased from 2021 to 2022. In addition, the
Company incurs incremental costs due to the Company being a public reporting
company in 2022, such as higher professional services for accounting, finance
and legal, as well as higher insurance expenses and listing fees, among others.
The increase in selling expenses primarily relates to our sponsorship agreements
in the sports and entertainment industry. The period-over-period increase in
marketing expenses primarily resulted from increased advertising, social media
marketing, tastings, and other promotion materials and events. We typically
expect selling and marketing expenses to follow our sales volume growth as the
activities are intended to generate revenues, however we expect these expenses
to be higher in the initial growth phase of the Company and begin to normalize
in the coming quarters.


Cash Flows

                                        Nine months ended
                                          September 30,
Cash provided by (used in):           2022              2021
Operating activities              $ (12,261,556 )   $ (2,011,612 )
Investing activities                          -             (250 )
Financing activities                   (387,069 )      2,236,527

(Decrease) net increase in cash ($12,648,625) $224,665

Cash used in operating activities increased in the 2022 period primarily due to
$3,771,586 spent to accelerate our inventory levels to meet anticipated demand
as well as higher advertising and marketing expenses resulting from increased
sponsorships, marketing agreements and other promotions aimed at accelerating
our growth during 2022. In addition, the Company increased staffing levels to
support the increased scale of our operations, as well as other costs associated
with expansion into new markets. See note 15 to the accompanying financial
statements for information on recent cash preservation initiatives.

Net cash used in investing activities was $0 and $250 for the nine months ended
September 30, 2022 and 2021, respectively.

Net cash used in financing activities was $387,069 and net cash provided by
financing activities was $2,236,527 for the nine months ended September 30, 2022
and 2021, respectively. The cash used in financing activities during the nine
months ended September 30, 2022 was primarily to pay off outstanding debt. The
cash provided by financing activities in the nine months ended September 30,
2021 was primarily due to proceeds from issuance of member units.

Cash and capital resources

Our primary cash needs are for working capital purposes, such as driving
awareness through advertising and marketing spend, adding staff, funding
operations, and purchasing inventory. Prior to our December 2021 initial public
offering, we funded our operational cash requirements primarily with funds
advanced from Damian Novak, our Executive Chairman and co-founder, and entities
affiliated with Mr. Novak. We also received proceeds from the sale of Class W
Units representing membership interests in the Company, which converted into
common stock upon our December 2021 conversion to a corporation (the "LLC
Conversion"), and we received short term loans in the form of promissory notes
from two of our equity holders, which supplemented the loans from Mr. Novak and
his affiliates as sources of operating capital, along with limited cash flows
from our operating activities. See "Financing Transactions" below.

We have incurred losses and negative cash flows from operations since our
inception in May 2019, including an operating loss of approximately $11.4
million for the nine months ended September 30, 2022 and operating losses of
approximately $9.9 million and $1.3 million during the years ended December 31,
2021 and 2020, respectively. As of September 30, 2022, we had an accumulated
deficit of $12,022,524 and a total stockholders' equity of $8,141,971.

As of September 30, 2022, we had $3,415,316 in cash, accounts receivable of
$585,551, inventory of $3,930,646, prepaid expenses of $2,046,177 of which
$1,289,760 is current prepaid expenses. On September 30, 2022, current assets
amounted to $9,165,660 and current liabilities were $1,881,197 resulting in a
working capital surplus (with working capital defined as current assets minus
current liabilities) of $7,284,463.

We expect to incur losses in future periods as we continue to invest in our
business. The Company incurred net losses of $2,560,040 and $11,405,173 for the
three and nine months ended September 30, 2022, compared to net losses of
$1,531,046 and $8,094,635 for the three and nine months ended September 30,
2021, respectively. As reflected on its statements of cash flows, the Company's
net cash used in operating activities during the nine months ended September 30,
2022 and 2021, was $12,261,556 and $2,011,612, respectively.


Although the Company's revenue generated during the nine months ended September
30, 2022 represents a 136% increase over its revenues generated in same period
of 2021, in addition to paying IPO fees and settling pre-IPO net outstanding
related party debt in the fourth quarter of 2021, the Company's operating
expenses have significantly exceeded its revenues over these periods. During the
nine months ended September 30, 2022 the Company has purchased additional
inventory in efforts to mitigate supply chain risks and incurred additional
expenses in order to invest in sales and marketing activities and increase
staffing and infrastructure to position the Company for future growth.
Meanwhile, the Company has put in place several cash preservation initiatives
starting in the third quarter of 2022, as reflected by the decrease in our net
loss to $2,560,040 in the third quarter of 2022 as compared to $4,558,890 during
the second quarter of 2022. See note 15 to the accompanying financial statements
for additional information on recent cash preservation initiatives.

The Company currently holds no debt and will seek debt or equity financing in
the near term to sustain existing operations. If adequate financing is not
available, the Company may be forced to curtail near-term growth priorities,
take measures to severely reduce our expenses and business operations, or
discontinue them completely. Such financing may be dilutive. At the current pace
of incurring expenses and without receipt of additional financing, the Company
projects that the existing cash balance will be sufficient to fund current
operations into the first quarter of 2023, after which additional financing will
be needed to satisfy obligations.

Additional financing may not be available on favorable terms or at all. If
additional financing is available, it may be highly dilutive to existing
shareholders and may otherwise include burdensome or onerous terms. The
Company's inability to raise additional working capital in a timely manner would
negatively impact the ability to fund operations, generate revenues, grow the
business and otherwise execute the Company's business plan, leading to the
reduction or suspension of operations and ultimately potentially ceasing
operations altogether. Should this occur, the value of any investment in the
Company's securities could be adversely affected.

These factors raise substantial doubt about the Company's ability to continue as
a going concern. The financial statements do not include any adjustments
relating to the recoverability and classification of recorded asset amounts or
the amounts and classification of liabilities that might be necessary should the
Company be unable to continue as a going concern.

In an effort to preserve capital, the Company's leadership team has already
deferred certain investments in additional inventory, curtailed its sales and
marketing efforts and staffing, and taken other measures to reduce expenses and
business operations. Collectively, these cost reduction efforts have reduced the
Company's cash requirements by more than $6.3 million for the second half of
calendar year 2022, preserving capital for our highest priority expenses and
investments and providing additional runway for the growth strategy to gain
traction in market. See note 15 to the accompanying financial statements for
additional information on recent cash preservation initiatives, including the
termination of ten employees on the internal sales team and the engagement of a
third party vendor to more efficiently and effectively facilitate current and
future sales.

In parallel, the Company continues to execute its growth strategy, opening up
new distributor and retail relationships, expanding to new geographic markets,
and introducing new product extensions. As noted in note 15 to the accompanying
financial statements, the Company has also engaged a third party vendor as a
strategic approach to grow direct to consumer sales. The Company believes that
these efforts will further accelerate top-line growth in ways that will only
improve liquidity measures as the Company converts receivables to cash.

Financing Transactions

We have financed our operations through a combination of debt and equity financing.

Since the Company's inception in May 2019, Damian Novak, our Executive Chairman
and co-founder, and affiliates of Mr. Novak have incurred expenses on our behalf
or advanced funds to us from time to time as needed to satisfy our working
capital requirements and expenses. The reimbursable expenses and advances were
reflected as related party payables on our balance sheet and were not evidenced
promissory notes or other written documentation. On December 17, 2021, we used a
portion of the proceeds from our initial public offering to repay $2.0 million,
representing the outstanding amount of these related party payables, net of
related party receivables that Mr. Novak and his affiliates owed to us at that

In November 2020, we sold 50,000 Class W Units representing membership interests
in the Company to an investor at a price of $5.00 per unit, for gross proceeds
of $250,000. Such Class W Units converted into an aggregate of 309,672 shares of
our common stock upon the LLC Conversion.

In January 2021, we sold 40,000 Class W Units representing membership interests
in the Company to an investor at a price of $5.00 per unit, for gross proceeds
of $200,000. Such Class W Units converted into an aggregate of 247,738 shares of
our common stock upon the LLC Conversion.

During the period from April 2021 through September 2021, we sold an aggregate
of 60,388 Class W Units representing membership interests in the Company to
investors at a price of $34.94 per unit, for gross proceeds of $2,109,945. Such
Class W Units converted into an aggregate of 374,017 shares of our common stock
upon the LLC Conversion.


In September 2021, the Company entered into an agreement with an unrelated party
to pledge certain eligible accounts receivable for a cash advance at a
percentage of the outstanding amount, with the remaining balance due upon
collection from the customer. The agreement has an initial term of one year
which will automatically renew for successive one year terms unless the Company
provides a notice of termination at least 60 days prior to the termination date.
The receivables are pledged with full recourse, which means we bear the risk of
non-payment. The amounts advanced to the Company are classified as a secured
loan on our balance sheet and any fees computed on the outstanding amounts are
treated as interest expense on our statement of operations. See Note 12 to the
accompanying financial statements for more details.

In September 2021, we issued a $216,000 promissory note to a stockholder of the
Company that became due and payable upon the December 17, 2021 closing of our
initial public offering. In October 2021, we issued another $216,000 promissory
note to a different stockholder of the Company that became due and payable upon
the December 17, 2021 closing of our initial public offering. Collectively, the
stockholders holding these notes owned approximately 3.63% of our outstanding
shares immediately prior to our initial public offering.

In December 2021, we completed an initial public offering of our common stock,
in which we sold 2,200,000 shares. The shares began trading on The NYSE American
stock exchange on December 14, 2021. The shares were sold at an initial public
offering price of $10.00 per share, resulting in net proceeds to the Company of
approximately $19.2 million, after deducting underwriting discounts and
commissions and estimated offering expenses payable by us.

Significant Accounting Policies and Estimates

The Company's significant accounting policies are detailed in "Note 1: Summary
of Significant Accounting Policies" to the financial statements included in the
Company's Annual Report on Form 10-K for the year ended December 31, 2021. The
Company follows these policies in preparation of the financial statements.

Off-balance sheet arrangements

We have not engaged in any off-balance sheet activities as defined in Section 303(a)(4) of Regulation SK.

Accounting standards and recent accounting pronouncements

See Note 1 to our financial statements for a discussion of recent accounting pronouncements.

Emerging Growth Company Status

Pursuant to the JOBS Act, a company constituting an "emerging growth company"
is, among other things, entitled to rely upon certain reduced reporting
requirements and is eligible to take advantage of an extended transition period
to comply with new or revised accounting standards applicable to public
companies. We are an emerging growth company and have elected to use this
extended transition period for complying with new or revised accounting
standards that have different effective dates for public and private companies
until the earlier of the date we (i) are no longer an emerging growth company or
(ii) affirmatively and irrevocably opt out of the extended transition period
provided in the JOBS Act. Our financial statements may, therefore, not be
comparable to those of other public companies that comply with such new or
revised accounting standards.


© Edgar Online, source Previews

Man sent to jail for robbery in Kalamazoo, Kent and Ottawa counties Fri, 04 Nov 2022 18:05:00 +0000 KENT COUNTY, MI — A man accused of robbing credit unions and check cashing stores in western Michigan has been sentenced to six years in prison. Tommy Maurice-Sans Jurl pleaded guilty to credit union robbery during a November 18, 2021 holdup at the Lake Michigan Credit Union in Byron Center. Five other charges of robbery […]]]>

KENT COUNTY, MI — A man accused of robbing credit unions and check cashing stores in western Michigan has been sentenced to six years in prison.

Tommy Maurice-Sans Jurl pleaded guilty to credit union robbery during a November 18, 2021 holdup at the Lake Michigan Credit Union in Byron Center.

Five other charges of robbery or attempted robbery were dismissed in a plea agreement, but Jurl admitted involvement in all of the crimes.

He and co-defendant Redo Lamont Rolling, who allegedly acted as a lookout and getaway driver, split $26,000 in the LMCU heist.

Rolling is awaiting sentencing after taking his case to court and was found guilty on four of six counts: two counts of theft from a credit union, robbery and attempted robbery.

Jurl was sentenced this week by U.S. District Judge Hala Jarbou in Lansing. She ordered Jurl to spend three years on probation after his prison sentence was completed and to pay restitution of $36,266.

Jurl handed notes to cashiers or made threatening statements during the robberies, federal prosecutors said.

During the LMCU robbery, he handed a cashier a note that read, “give me 50,000 no dice pack (sic), because I’m wanted by the mafia,” according to court records.

The first theft took place on June 23, 2020 at Check ‘N Go in Oshtemo Township of Kalamazoo County. Jurl said he had six people waiting outside if the worker didn’t give him money, records show.

On July 16, 2020, he robbed Check ‘N Go in Plainfield Township, telling a worker there were “six mob members” outside. During a Nov. 24, 2021, robbery at Honor Credit Union in Wyoming, he told a worker to ‘fill the bags and don’t press the buttons’ and said he had people inside. outside.

During a November 30, 2021 robbery at the Lake Michigan Credit Union in Grand Haven, he said, “Don’t push any buttons, there are people out there who are going to kill me, I need of $25,000,” the court records said.

On December 2, 2021, he told an Instant Cash Advance Store employee in Wyoming, “I have 3 friends waiting outside with guns, I need you to fill this bag with cash “, the records showed. The worker, behind security plexiglass, refused and pressed a panic button.

The thief got nothing in the last robbery attempt.

Jurl had previously been convicted of a robbery on December 28, 2020 at the Cash Store in Norton Shores. He told a worker that the Mafia was going to kill his family, records show. He was released on November 9, 2021.

“Nine days after Jurl’s release from prison, he and Rolling committed the following robbery” at the LMCU in Byron Center, Assistant U.S. Attorney Daniel Mekaru wrote in a brief.

Investigators found footage of Jurl on Rolling’s cellphone showing apparent efforts to alter his appearance with wigs and costumes, the prosecutor said.

State police analyzed surveillance video of the alleged getaway car, a silver Ford Taurus, and used a partial license plate number to identify Rolling as a suspect. Investigators obtained a search warrant to place a tracking device on a 2002 Taurus registered in Rolling in Muskegon.

Both were arrested after the failed heist in Wyoming. Investigators determined that their vehicle was stopped near Instant Advance Cash Store before it started to move again.

Grand Rapids police stopped the vehicle minutes later at a gas station on South Division Avenue and Wealthy Street. Jurl’s clothes matched the description of the attempted robbery minutes earlier, Mekaru wrote

He denied any involvement. He later said Rolling planned the robbery. His plea deal required his cooperation with prosecutors.

Read more:

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Tractor Supply and Citi Retail Thu, 27 Oct 2022 21:22:58 +0000 Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, and Citi Retail Services, one of North America’s largest and most experienced retail lending solutions providers, today announced an extension of their existing consumer credit card offering. Presentation of the TSC+Visa+Credit+Cardan additional credit card option offered by Tractor Supply and Citibank, […]]]>

Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, and Citi Retail Services, one of North America’s largest and most experienced retail lending solutions providers, today announced an extension of their existing consumer credit card offering. Presentation of the TSC+Visa+Credit+Cardan additional credit card option offered by Tractor Supply and Citibank, NA

This press release is multimedia. See the full version here:

Tractor Supply Visa credit cards in front of the Tractor Supply store front (Photo: Business Wire)

Building on the existing, high-value benefits of the private label TSC Store Card which is available for in-store purchases, the new co-branded offer offers customers the opportunity to earn Neighbor%26rsquo%3Bs+Club rewards wherever Visa cards are accepted. Building on the 20+ year relationship between the two brands, customers who apply for and are approved for the new credit card will now have the opportunity to take Tractor Supply with them and continue to earn highly relevant rewards. The new TSC Visa Credit Card offers many great benefits, including all the benefits of the TSC Store Card and more. Key benefits include:

  • The choice of 5% rewards on purchases from Tractor Supply or special financing on purchases of $199 or more;1

  • 3% in rewards on qualifying purchases at gas stations, grocery stores and veterinarians;2

  • 1% in rewards on all other purchases;3

  • $0 annual fee;4 and

  • Acceptance wherever Visa is accepted.

“Tractor Supply is committed to providing our customers with great value every day. Whether it’s our existing private label card or our new co-branded TSC Visa credit card, our customers have the flexibility to choose the one that best suits their needs with relevant and compelling rewards,” said Kurt Barton, chief financial officer at Tractor Supply. .

“After more than twenty years of supporting Tractor Supply, we are thrilled to expand our existing offerings by unveiling the new TSC Visa Credit Card to offer our consumers the opportunity to earn rewards in categories loved by Tractor customers. Supply,” said Leslie McNamara, Business Head, Partner Management, Citi Retail Services. “By offering two compelling consumer credit cards, inspired by our company’s shared commitment to consistently creating an exceptional customer experience, we are confident that customers will find the right card to meet their needs.”

All Tractor Supply Cardholders – with the TSC Visa Credit Card or TSC Store Card – are automatically upgraded to Neighbor’s Club Preferred Plus status. With the highest status at their disposal, cardholders have access to an annual birthday gift, no-receipt returns, free pet bath services, free same-day delivery, free daily trailer rentals and free daily standard shipping.5 Points earned can be redeemed for rewards to be used at Tractor Supply and Petsense by Tractor Supply or for merchandise and services in the Neighbor%26rsquo%3Bs+Club+Market.6

“Providing consumers with choice that fits their lifestyle is critical as financial services continue to become more personalized,” said Kirk Stuart, North America Merchant Sales and Solutions Manager at Visa. “Together with Tractor Supply Company and Citi Retail Services, we are committed to providing more value and options to meet this growing consumer demand.”

In May 2021, Tractor Supply and Citi Retail Services announced a multi-year renewal of their consumer credit card relationship to help ensure continued brand loyalty during an exciting period of growth. To date, Citi Retail Services now issues three credit cards with Tractor Supply: the TSC Store Card for in-store purchases, the new TSC Visa Credit Card for purchases anywhere Visa cards are accepted, and the Tractor Supply Business Card which provides both fixed and renewable terms for business customers.

To learn more about Tractor Supply credit cards, please visit

About Tractor Supply Company

Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, is passionate about its unique niche, targeting the needs of recreational farmers, ranchers and anyone who enjoys living the lifestyle. rural, for more than 80 years. years. Tractor Supply offers a wide range of products needed to care for home, earth, pets and animals with an emphasis on product localization, exclusive brands and legendary customer service for the style of Life Out Here. With 50,000 team members, the company’s physical store assets, combined with its digital capabilities, provide customers with the convenience of buying the products they need anytime, anywhere, any way. they choose at the everyday low prices they deserve. As of September 24, 2022, the Company operated 2,027 Tractor Supply stores in 49 states, a consumer mobile app and an e-commerce website at In October 2022, Tractor Supply acquired 81 stores from Orscheln Farm and Home which will be rebranded as Tractor Supply by the end of 2023.

Tractor Supply Company also owns and operates Petsense by Tractor Supply, a specialty small pet supply retailer focused on serving the needs of pet owners, primarily in small to medium sized communities, and offering a variety of pet products and services. As of September 24, 2022, the Company operated 180 Petsense by Tractor Supply stores in 23 states. For more information about Petsense by Tractor Supply, visit

About Citi

Citi is a leading banking partner for institutions with cross-border needs, a global leader in wealth management, and a popular personal bank in its home market, the United States. Citi does business in more than 160 countries and jurisdictions, providing businesses, governments, investors, institutions and individuals with a wide range of financial products and services.

Additional information can be found at | Twitter: %40Citi | Youtube: | Blog: | Facebook: | LinkedIn:


2 See Neighbor%27s+Club+Terms+and+Conditions for more details.

3 See Neighbor%27s+Club+Terms+and+Conditions for more details.

4 As of September 27, 2022, the APR for purchases is 28.99% and the APR for balance transfers is 28.99%. These APRs will vary by market depending on the prime rate. The APR for cash advances is 29.99%. The minimum interest charge is $2. The cash advance fee is 5% of each transaction; minimum $10. The balance transfer fee is 5% of each transaction, minimum $10, and the transaction fee for foreign purchases is 3% of each US dollar purchase transaction. Visit for details.

5 See Neighbor%27s+Club+Terms+and+Conditions for more details.

6 See Neighbor%27s+Club+Terms+and+Conditions for more details.


See the source version on

Top No Credit Check Loan Providers For Bad Credit Loans: The Best Bad Credit Loans With Guaranteed Approval Mon, 24 Oct 2022 03:07:12 +0000 You could find yourself in a bind. It can be anything that needs money, as quickly as auto repairs, unforeseen medical expenses, or anything else. You may come up with a loan as a potential answer. You are concerned about finding assured approvals for negative credit loans. Additionally, you could not have the highest credit, […]]]>

You could find yourself in a bind. It can be anything that needs money, as quickly as auto repairs, unforeseen medical expenses, or anything else. You may come up with a loan as a potential answer. You are concerned about finding assured approvals for negative credit loans.

Additionally, you could not have the highest credit, which would lengthen the procedure considerably. Thankfully, getting a loan with terrible credit and guaranteed approval is feasible. They are real. If you’re fortunate, you could even be able to get financing the next day. Does it seem like it may be a scam? Though it is! Don’t just take our word for it; we’ve compiled a list of the best internet resources to assist you in obtaining a loan that is sure to be approved, although your FICO score suggests otherwise. Without further ado, here are the finest locations to apply for guaranteed approval for poor credit loans.

The Top 5 Brands For Guaranteed Approval of Bad Credit Loans

To decide which lenders may be trusted, we investigated the services they provide, the sorts of issues they address, and their reputation in the financial lending industry. We did extensive research into these platforms, assessed them using a set of standards, and then decided whether or not they should be on our list.

  • The Most Reliable Lending Platform For Loans With Bad Credit is GreenDayOnline.
  • DimeBucks: The Best Platform For Loans With Bad Credit Overall
  • PaydayDaze – Customer-focused Loan Seeking Services
  • Quick Loans Processed For People With Low Credit Scores | ZaxLoans
  • The easiest kind of bad credit loan available online is KashPilot.

#1. The Most Reliable Lending Platform For Loans With Bad Credit is GreenDayOnline.

You are introducing GreenDayOnline, the second online resource on our list. It also links you to lenders associated with it, much like DimeBucks. Several loans that are harder to obtain on other sites may be found here. They also offer incredible financing speed, allowing you to get your money the same day or, at the latest, the next day. You will get an online application to complete. In comparison to DimeBucks, the restrictions are a little more flexible here.

The straightforward online form will request the following information from you:

  • You must provide documentation that you are a valid US citizen. This includes a copy of your SSN and your residence documentation.
  • You must earn a consistent income. No information is provided on the source of this revenue, however. Disability or social benefits are two options. The source may be self-employment. Everything is acceptable.
  • Once again, you must have a bank account in your name.
  • We’ll also need your phone number and email address.
  • You must also be at least 18 years old.

After completing this procedure, GreenDayOnline will take the data you provided and send it to their network of lenders. Lenders that believe they can help your case will get in touch with you after they get it. Again, data encryption technology is used to secure all of your personal information here. Any trustworthy platform or lender will take precautions to prevent the abuse of your information.

You may get the following types of guaranteed approval for poor credit loans:

  • A personal loan is intended for various purposes and often has more flexible conditions. In any event, this depends on your borrowing habits and why you’re taking out the loan.
  • Student Loans – This is for you if you’re a student with poor credit, which is more prevalent than you may think. This is true for all costs associated with schooling.
  • Auto Loans: Want to purchase the automobile of your dreams? Having some difficulty? Get a car loan. This is for everyone who wants to pay for anything linked to a car.
  • Business Loans – Does this month’s cash flow seem a little thin? To get things moving well, you may need to invest some money. This loan is ideal for you if it describes your circumstance.

GreenDayOnline provides unsecured loans. This implies that you could get loans with higher interest rates and APR. The benefit is that no one will use your possessions as collateral. You won’t run the danger of losing your priceless items if you can’t make payments.

As its name suggests, GreenDayOnline focuses on helping those with bad credit. With this platform, all FICO scores are allowed. If they cannot assist you directly, they will assist you indirectly with any credit-related issues. On their website, there is a whole section devoted to financial education. This contains details on various loan types, how they operate, how to spot debt collection fraud, and other crucial subjects. There is yet more to it. They will connect you with alternative credit-related items if they cannot assist you in obtaining a loan. Such items may be credit repair businesses. Your credit score will rise. As a result, they are making it easier for you to get better loans.


  • A greater $10,000 borrowing limit is in place. If you have poor credit, this can be lower.
  • You have access to special loans that are not available via regular sites.
  • Comprehensive financial education geared toward assisting the client.
  • GreenDayOnline provides its services in all 50 states and is connected to several lenders in the United States.


  • Since the 1990s, GreenDayOnline has been a seasoned platform.
  • Quick funding time. Users have said that they got their money on the same day.
  • Its criteria are relatively lenient. There is no set financial goal that you must achieve.
  • Numerous personal loans, including business, vehicle, and school loans, are available here.


  • Not a lender directly.
  • On this website, the BBB doesn’t have the best reputation. On other reliable sources, there are also a lot of favorable evaluations.

Customer feedback

With GreenDayOnline, your APR rates align with the industry standard of 5.99-39.99%. Most clients are happy to accept a loan at this interest rate since it is a pretty acceptable rate.

You may borrow between $1,000 and $10,000 here. If your credit has been bad, this amount may be smaller, meaning that the most you may borrow is $5,000. However, most consumers have continued to claim that even having poor credit did not prevent them from getting approved for this loan.

#2. DimeBucks: The Best Platform For Loans With Bad Credit Overall

The top brand for guaranteed acceptance of poor credit loans is DimeBucks. It is a virtual platform that acts as an intermediary between the borrower and the lender. How is this accomplished?

DimeBucks only provides this service; it has a list of lenders who deal with various circumstances and scenarios. Each of them has its set of rules and regulations. With the help of DimeBucks, borrowers may find a lender prepared to consider their circumstances and current credit score.

Before they can be approved for a loan, DimeBucks customers must be able to check off a few items, such as:

  • You must make at least $800 monthly to qualify for a monthly income.
  • Must be 18 years old or above
  • You’ll also need a bank account of your own.

The use of DimeBucks and its services is completely free. With over 60 prepared to deal with instances like yours, they also offer an amazing selection of lenders. You simply need to sign a few simple pieces of paperwork you may obtain online to complete the procedure. Following your signature, the website starts working on locating your financial solution.

Additionally, DimeBucks provides a variety of programs and loans. Which are:

  • Installment loans are repaid in regular installments each month. You and your lender will agree on the details of these.
  • Title loans fall under the category of secured loans. They accept any asset as collateral, but the benefit is that they have low standards and don’t do any kind of credit checks. Additionally, secured loans sometimes have lower interest and APR rates. Additionally, they are renowned for getting granted promptly and for various sums.
  • Payday loans function like installment loans. You have a predetermined amount deducted from each pay period. Until the debt is fully repaid, this is carried out each month. They have higher interest rates since they are less secure than title loans. It would be beneficial if you were certain that you could repay these loans within the negotiated conditions.

You should remember that DimeBucks is not liable for any restrictions lenders could place on you. As a result, lenders may set their own APRs, payback periods, and other conditions; DimeBucks cannot impose its terms or negotiate on the lender’s behalf. They only link you, the lender, and you will deal with everything else.

Each state, except New York and Connecticut, has DimeBucks accessible. If you happen to be reading this there, you’re in a bit of trouble.


  • A million plus users.
  • I approve of poor credit.
  • Emphasis is placed on $5,000 short-term loans.
  • Free of charge.
  • Reviews that may be trusted.


  • Fantastic funding speed
  • Customer data is safe and shielded.
  • It offers a variety of loans.
  • We are obtaining money to handle the majority of personal emergencies.


  • The monthly income minimum seems a little onerous.
  • Living in New York or Connecticut can be a problem since those states don’t have it.

#3. PaydayDaze – Customer-focused Loan Seeking Services

You may also get loans from PaydayDaze, ranked third on our list and renowned for providing a high level of security for borrowers. PaydayDaze offers loans, which you may acquire by clicking here. If you’re interested in knowing more, you may visit their website. You simply need to provide them with the following information to be approved for a quick loan of up to $5,000: the amount you need, your zip code, and some personal data like your Social Security number, email address, and birth date. All that’s left to do is wait for them to accept your application after that. You just need to perform this one action, which is all that is necessary to acquire a rapid loan. The most recent PaydayDaze Review has a description of it.

If the loan is approved for you, the money may be sent into your account in hours rather than a day. Additionally, it won’t take you more than a few minutes to do any of these procedures. You get prompt answers. You do not need to worry about leaking any of your personal information. You should be aware of that. There is no need for you to worry about the revelation of any of your personal information if this is something that is causing you anxiety. This service will provide access to many direct lenders, which will be advantageous if you have difficulties managing your money.


  • There are loans up to $5000 available.
  • swiftly and simply
  • A simple program that is accessible online
  • Secure


  • Less than 24 hours for the transfer of monies
  • a simple and quick application procedure
  • I’ll protect your privacy.
  • reputable lenders


  • It could be difficult to locate an equal

Customer feedback

According to client testimonials, this loan can help you enhance your financial status by doing the necessary paperwork on your behalf and offering assistance. At the same time, you make efforts to make it better. This is only one of the several ways they may ultimately benefit you. Additionally, because each of the lenders has been properly investigated, you won’t need to worry about falling victim to fraud. Customers are hence devoted to this service.

#4. Quick Loans Processed For People With Low Credit Scores | ZaxLoans

Zaxloans is third on this list. In 2015, an online loan platform was created.

Although every website on our list caters to those with terrible credit, ZaxLoans stands out from the competition since it provides peer-to-peer lending as a loan option.

Peer-to-peer lending occurs when two people lend money to one another directly without going through a bank. It also takes 500 credit scores, which is uncommon.

ZaxLoans requires a few prerequisites. These are fundamental requirements like being 18 years old, being a citizen of the US, having a bank account, and giving your phone numbers. You will also be questioned about your employment, income source, payment method, and employer’s details.

Additional requirements include your social security number, proof of identification, and the state you’re from. Although it may seem like a lot of your data, you shouldn’t be concerned. To ensure that your data is secure, these markets employ encryption software.

In addition, you’ll be questioned about your occupation and if you presently possess a car.

The requirement that you earn $1,000 each month is the strictest one. Even though they could qualify for the loans, this might discourage many individuals from applying.

The APR you may anticipate from ZaxLoans runs from 5.99% to 35.99%, which is typically the average industry rate. The loan periods are likewise typical, ranging from three to seventy-two months.

ZaxLoans offers several financing options. Customers may acquire short-term loans for an automobile, medical, student, mortgage, and debt consolidation purposes.


  • The detailed application procedure is used to identify the most relevant lenders.
  • Everything is online, so there are a lot of conveniences even if there is no app.
  • A lender is quickly connected to you, and financing is completed with excellent quickness.


  • Loan types
  • BBB’s rating is B.
  • There is no collateral required since it provides unsecured loans.
  • Offers $10,000 or more.
  • Accepts credit scores of all kinds.


  • According to several evaluations, the website has been sending them too many emails.
  • High borrowing rates and APR.
  • zero direct loans

Customer feedback

According to the testimonials, ZaxLoans connects you with a lender appropriate for your situation, saving you valuable time. It doesn’t squander any of the data you provide. It doesn’t only link you up with lenders. Any lender with whom you are matched will be suitable for your circumstances.

The customers greatly value this security month. You won’t lose your possessions if you default, but you will be assessed a price. The clients place a high value on this security.

#5. The easiest kind of bad credit loan available online is KashPilot.

KashPilot is the item after that on our list. This one offers the biggest borrowing capacity compared to the other platforms we’ve discussed. You may get loans from $1,000 to a staggering $35,000.

Three different loan kinds are available here:

  • Inter-peer lending. This enables you to borrow directly from another person without using a bank as an intermediary.
  • Loans for individual installment. This enables you to repay any personal loans you take out in payments.
  • Individual bank loans. Enable you to take out a range of personal loans that may be used for anything.

You’ll be happy to learn that they are more lenient concerning application criteria than the platform before this one. If you want to use Kashpilot services, you must be:

  • A citizen or national of the USA.
  • Your social security number is required.
  • You must be at least 18 years old.
  • You must provide details about your bank.
  • A checking account in your name is required.

There isn’t a criterion for income here, but you must have proof of income. This might come from any source, including social security payments or disability compensation.

Here’s the typical APR of 5.99-39.99%. This may vary amongst lenders. Those with bad credit will have to contend with higher interest rates and APRs.

KashPilot uses your monthly income, payment history, and other criteria like these to determine how reliable a customer you are.

There are a plethora of lenders that KashPilot could be able to introduce you to. Thanks to this and the straightforward application procedure, you may complete the full loan-finding process quickly and efficiently thanks to this and the exact application procedure. It will take less time for you to select a lender and compare their rates, which will speed up the loan process.


  • The procedure happens quickly. In an emergency, this is a viable alternative for large loans.
  • The borrowing cap on this platform is the greatest of all we’ve covered thus far.
  • This website focuses on personal loans since they are common and may be used for many different purposes.
  • The application criteria are not as stringent as the other platforms listed here.


  • Good for various circumstances – a modest loan or a huge one, you’ll be able to handle most crises financially.
  • There are several lenders in the network. This speeds up the matching process.
  • All of your loans are unsecured, so you won’t lose any of your personal belongings.


  • Even if it does provide outstanding loans like peer-to-peer borrowing, there is not enough diversity overall.

Customer feedback

Only soft credit pulls, which do not affect your real credit report and score, are performed on our website. This explains why this service seems to be highly valued in many client evaluations.

This also allows you to compare prices from other lenders without negatively impacting your credit score through hard credit pulls. You ought to benefit from this. It enables you to collect data and choose the best course of action for your circumstances. Additionally, consumers seem to respect this truly.

How To Get A Loan With Bad Credit

You should hunt for specific requirements that meet your demands to get the finest poor credit loan feasible.

  • Interest rates: Make sure every item on this list has the lowest interest rate available.
  • Convenience – You must select a brand that makes applying for a loan simple.
  • Speed is important since you must select a loan to deliver the funds on schedule to cover your bills.

Loan alternatives

If you have terrible credit, there are a few alternatives to bank loans. Here are several possibilities:

  • Try to seek personal loans instead. They are accessible and safe and may be acquired from internet lenders like those on our list.
  • Can the loan be avoided? – You must be certain that borrowing money is your only alternative. Even while we’ve included several reliable sources for loans on our list, it doesn’t always imply you should start there. Ideally, you should avoid loans if possible. If you already have low credit, you don’t want to risk damaging your credit score by missing a payment. Conversely, making your payments on time will raise your credit rating. Every financial move you make should consider your credit score.
  • Credit card advances are available even to those with low credit scores.

Beginner’s Guide: Everything You Should Know Before Choosing To Take Out A Loan With Bad Credit

  • Terms and Conditions – A crucial component of the whole procedure are the terms and conditions. This is since the amount you are borrowing is merely the very beginning. The loan’s terms and conditions determine how it will be repaid. Big loans do not nearly lead people into debt traps as often as poorly understood terms and conditions.

What constitutes excellent terms and conditions? You may be askingboth the lender and the borrower profit from these. For instance, unfavorable terms and circumstances can include an extremely high-interest rate, even for loans for those with terrible credit; this would be taking advantage of your position; exploitation occurs when only one side benefits. A contract cannot be changed after it has been signed.

  • How to spot a debt scam – Any lender who exerts pressure or coercion on you is a fraud. Legitimate lenders will first fully explain their services to you and evaluate your circumstances to see if it is compatible with the services they provide. They will set up a reasonable strategy to help you if it is. This way, you won’t feel pressured to accept or sign anything.

These lenders are not looking out for your best interests. They’re probably trying to take advantage of you to earn fast money.

Additionally, you want to avoid any lender whose terms and conditions aren’t explicit. They need to be simple to comprehend. We ought to talk about them with you. Legal loopholes are often created using cunning wordplay. A warning sign is when you don’t grasp something and can’t adequately express it. Before giving you any credit, a competent lender will safeguard your information and go through your past. Watch out for those who don’t. Be as wary of anybody who asks you to fabricate any information, such as your salary. This is forbidden.

  • Before taking out any loan, consult a financial expert or a loan broker. This is done so that you are aware of all of your possibilities. You can acquire the finest loan for your circumstances if you do this since it will help you make the best selection possible. It is a good idea to get the assistance of loan brokers or financial consultants because they often know the rates offered by various lenders in their location. When it comes to taking out a loan, there is a lot to learn, so it doesn’t hurt to be informed.
  • The annual percentage rate (APR) and supplementary charges are further considerations. APR, as opposed to an interest rate, includes any extra costs associated with a loan, such as origination fees. These may gradually add up to a sizable amount. Any additional charges should always be discussed with your lender.
  • Terms of repayment: Repayment is an important component of loans. You are aware of the terrible effects of debt cycles. They could leave someone financially helpless. However, how do they begin? The repayment of personal and short-term loans is often when these debt traps begin. One of the most popular types of loans is these two. You’ll have to cope with increased interest rates starting the next month if you don’t pay them back. Understanding interest rates might be challenging, but a fundamental idea to keep in mind is that the rate will probably rise for each loan default. You can be required to pay back more than what was first negotiated. There is minimal possibility that you will repay with additional fees if you initially have trouble repaying the loan. You thus fail to repay once again, and the cycle continues. Your debt cycle has started. For citizens of the US, this issue occurs often. Mortgages and student debts are common issues for most individuals. You find yourself in a debt cycle as soon as you add a vehicle repair loan and a short-term personal loan to the mix. Make very certain that you can repay before signing.

Questions and Answers about the application process for payday loans

The loan application procedure could seem to be challenging. The lender often receives a variety of questions from borrowers. These kinds of concerns, whether they are regarding the method or the integrity, are quite common. It may be challenging to comprehend the variations among the many loan forms, how they function, the advantages and disadvantages of each, and the obtainable possibilities. Due to this, we have created a list of the most usual queries borrowers have about online markets and payday loans.

What risks come along with obtaining a loan in the short term?

There are a few risks associated with repaying these types of negative credit loans that must be considered. They have the potential to swiftly become debt traps if you don’t follow the repayment requirements. This is one possible disadvantage of a quick loan. The second benefit is that since they are small and short-term funds, the restrictions for participation are often less demanding. However, there is a caveat to this.

Their interest rates are much higher, which is a drawback. Your interest rates will inevitably be higher if you have bad credit. These risks might trap you in a vicious debt cycle where you are compelled to make loan payments on time while simultaneously trying to extend the loan. You must assess your capacity to make the necessary repayments on schedule. The effects of not repaying a loan may sometimes be much worse than the issues that the loan was designed to solve.

What Alternatives to Loans Do You Have?

If you find that you are not eligible for a loan or if you just do not want to subject yourself to the interest rates, monthly payback in installments, and other obligations connected with loans, there are alternative solutions accessible to you.

You have choices, including joining a credit union, which will be advantageous if you choose that path. Interest rates provided to members by these groups are often greater than those offered by banks. You may also borrow money from close friends and family members. It may be advantageous to look for an investor or an angel investor if your business cannot apply a line of credit. These investors often have a strong public profile and contribute their funds to business efforts.

Where and how can I get a better deal?

Only your credit score will determine if you are approved for an unsecured loan for people with bad credit. If you compare rates, seek financial advice or counseling, go to reputable lenders, and have a good credit score, you may be able to get the best deal for yourself. This will assist you in obtaining the greatest value for yourself. Good credit score holders are often quite simple to deal with and lend money to. You ought to be able to locate a good deal at most of the places you go.

If you have bad credit, it is even more challenging. You need to raise your credit score a little bit. To find out whether there is anything that may be erased, you might need to get a copy of your credit report from one of the agencies. Even while it may not directly lead to an increase in credit score, this will still help. Unfortunately, improving one’s credit in a real sense takes a lot of time and requires commitment and wise financial decisions. There is no fast way past this obstruction.

However, the following is a list of some more prudent financial choices you might make:

  • You are paying promptly. The most crucial factor in establishing your FICO score may be whether or not you have been delivering lay payments. The easiest action to raise your credit score is to make your payments on time.
  • You were repairing tarnished credit. Did you know that obtaining a copy of your credit report from any of the three major credit agencies is entirely legal? You may also verify them independently for any errors of any type. If you discover even one, you can challenge it, and if you are successful, the mistake will be eliminated from your report. You may verify them for any errors by yourself, and if you discover even one, you can challenge them. Giving DIY credit repair a try at any moment has no disadvantages.
  • You must meticulously document each financial transaction. The activities you’ve been engaging in lately affect your score. You ought to reduce the number of loan applications you submit. This may hurt your grade.

Conclusion: Using the best lending sites that approve loans for those with bad credit may avoid becoming caught in a debt trap.

Finding guaranteed approval for negative credit loans may be a highly stressful affair. When your credit score isn’t great, it may be difficult to get a suitable loan that doesn’t break the bank and trap you in debt.

We’ve compiled a list of platforms known for quick financing times for your benefit. These are all trustworthy sites that can assist you in finding the best loan for you as quickly as feasible. The monies should arrive the same day or, at the latest, the next day.

We hope this post helps you better understand the loan application process when you have terrible credit, how it all works, the advantages and disadvantages of one, and your alternatives. The more prepared you are financially before taking any loan, the more likely you will choose one advantageous to you and suitable for your needs.

8 best places to make money right now Wed, 19 Oct 2022 22:33:13 +0000 Courtney Hale / There are times when an emergency or an unexpected expense arises. If you don’t have an emergency fund to fall back on, you’re probably thinking, “I need money now,” and you don’t know where to find it. When payday is too far away to be useful, there are options and strategies […]]]>

Courtney Hale /

There are times when an emergency or an unexpected expense arises. If you don’t have an emergency fund to fall back on, you’re probably thinking, “I need money now, and you don’t know where to find it. When payday is too far away to be useful, there are options and strategies that could help you quickly find the money you need to solve your problem.

1. Sell items

When you realize that “I need money now”, the fastest way to get some quick cash is to look at what you currently have and sell it. Selling stuff is a good way to declutter your life, especially if you’re not using the goods you plan to sell.

Some of the most profitable items to sell and cash in quickly are:

  • Electronic devices such as mobile devices and video game consoles
  • Jewelry, especially gold
  • Designer items
  • Collectibles

Depending on the items you’re looking to sell, sources such as OfferUp, eBay, Craigslist, Facebook Marketplace, Swappa (for mobile/electronic devices), and Poshmark (for clothing and accessories) are good options. In most cases, all you need is to take clear photos of the items you are looking to sell and list them.

Do some research to determine the price of the item to sell quickly. And when you receive interest in your goods for sale, be sure to be careful when making a deal to avoid being scammed, especially on Craigslist, OfferUp, and Facebook Marketplace.

2. Take a side hustle

If you’ve exhausted your options to sell items, another good option is to take a side hustle to earn some quick cash. Some gigs don’t even require special skills to earn money now. The following platforms could help you increase your income quickly.

Food and grocery deliveries

You can earn money quickly by working as a delivery driver. In most cases, you will need a mobile phone and an app download, a driver’s license and an insured vehicle. If you meet the application requirements, you could start earning today. Some platforms worth trying include:


Uber and Lyft are the two most popular apps to work for as a rideshare driver. You could work in your spare time to raise the money you seek. In many cases, working after hours could help you earn more.

If you are unsure about driving passengers, an alternative is to work as a parcel delivery driver for Amazon Flex.

Earn rewards

Some websites work with brands that pay you to take surveys, watch ads and videos, play games, shop online, and more. Signing up is simple – in many cases, all you need to do is enter an email address to get started and a PayPal account to make a withdrawal. In other cases, you can cash out with e-gift cards. Cash reward websites worth checking out are:

Teach online

You don’t need to have any special skills to teach online. You can teach English to foreign students through websites such as VIPKid. Or you could be a homework tutor and advertise your services on Wyzant and TutorMe.

3. Rent your stuff

There are websites that allow you to list your property for rent. Why not make money from your existing assets, especially if you don’t use them all the time? Tools, spare parts, and vehicles are a few options. Some platforms worth checking out are:

4. Use your credit card

Having an open line of credit is a lifeline in an emergency. You can use your credit card to cover a last minute expense by using the card to make the purchase or get a cash advance.

keep in mind

A cash advance has higher fees than a regular purchase. And in both cases, you will have to pay off the balance on the card. Be sure to pay your installments on time to avoid damaging your credit and incurring additional fees and finance charges.

5. Take out a personal loan

If your credit card limit is not high enough to cover the expenses you need, a personal loan may be an alternative. However, personal loans often take time to apply for and be approved for – and require good credit.

For those who find it difficult to get a personal loan, payday loans or bad credit loans are available, but they come with very high interest rates which could create bigger problems later if you are not. not able to repay them quickly. Think of them as a last resort.

6. Look for public funding

Depending on the expenses you’re struggling with, you may be able to find government or community funding to help. There may be nonprofits or churches near you that could help. Some communities may offer short-term assistance that can help you with rent and utilities. Some hospitals offer subsidies or can write off hospital bills if you can’t afford it. The key is to research what is available in your city to find the help you need.

7. Pawned goods

If you have valuables that you are not ready to sell, you can pawn them. Wondering how a pawn works? You take your belongings to a pawn shop and the representative will appraise your items to determine what they are worth. They will lend you money based on the value of the item.

If you accept the loan, you will be paid, but you will have a certain period of time to repay the loan. If you do, your items are returned. If you are unable to repay the loan, the pawnbroker will keep your items and resell them to get their money back.

8. Ask for abstention

Forbearance basically means requesting a temporary deferral of your due payments. Although this option won’t put any money into your hand, it could free up some money that you would normally spend. Before choosing to delay any payments due, make sure you have your responsibilities clearly defined – you will need to make the payment in the future. Make sure you’ll be able to afford the payments later so you don’t find yourself in financial trouble.


Needing money now can happen to anyone. After all, life tends to throw the occasional curveball. You can walk through the situation with some knowledge of the types of options you might have. The options in this guide are some of the fastest ways to get money. Look for creative ways that help you avoid debt first.

Best Places to Earn Money FAQs

Many people have questions about ways to get money, the fastest way to do it, and where to start. Here are some answers to these questions.

  • How can I get money immediately?
    • One of the fastest ways to get money is to sell some of your possessions. It is also a good way to eliminate clutter from your life.
  • Who can give me free money?
    • Check with your local library or call 311 to find out if your community has programs that give you money for things like rent, groceries, or utilities.
  • Does Cash App allow you to borrow money?
  • How to make money in an hour?
    • You can earn money in an hour by selling goods, working as a delivery driver, or completing online surveys. This guide offers many ideas on how to get money fast.

Our in-house research team and on-site financial experts work together to create accurate, unbiased and up-to-date content. We check every stat, quote and fact using trusted primary resources to ensure that the information we provide is correct. You can read more about GOBankingRates processes and standards in our Editorial Policy.

Should consumer lenders migrate to SMEs? Sat, 15 Oct 2022 22:20:30 +0000 It seems pathetic to compare America’s westward migration of the 1800s to a well-funded fintech expanding its product line. But that’s exactly what I do. 150 years ago, traveling west to find greener pastures (and maybe even gold) was a route fraught with hopes, dreams, and extreme danger. You could stay in the built-up towns […]]]>

It seems pathetic to compare America’s westward migration of the 1800s to a well-funded fintech expanding its product line. But that’s exactly what I do.

150 years ago, traveling west to find greener pastures (and maybe even gold) was a route fraught with hopes, dreams, and extreme danger.

You could stay in the built-up towns of Eastern New York or Boston. While living in cramped and messy conditions, families could earn enough to support themselves. And so many remained.

Yet the promise and aura of the west, with its vast lands, fresh air and opportunity to start a new life, has forced large numbers of people to pack up their livelihoods and migrate via enormous wagon trains. Train tickets were too expensive for most.

Facing these groups to the west, however, were months plagued by disease, hunger, dehydration, exposure and of course the risk of being scalped alive and killed.

So it is today, even with an abundance of skim lattes and ping-pong tables at the ready, the management of a well-funded B2C lender must navigate difficult terrain if they are to expand their offering to consumers to SMEs.

If the physical consequences remain reduced, for a company like Zopa (on the eve of a potential IPO), the risk of investor scalping is an ever-present threat.

Recent News articles announced that the P2P consumer lender will seek to serve SMEs with a potential average transaction size of £100,000. This niche will place Zopa in new territory. Very far to the west.

I’m skeptical of claims that this move is a natural extension for Zopa. Overall, I find it interesting that B2C lenders aren’t focusing more on circling their wagons around financing the individual entrepreneur or micro-SMEs as early movers.

Even in an acquisition transaction, i.e. the purchase of an existing alternative lender for SMEs, this is an important supply gap to maintain. From a £500 loan for an employee still living at home, to providing a £100,000 risk price facility to a company and its directors.

If one is not careful, offering two products in such vast ranges can cause an identity friction point in hyper-growth organizations. Especially within the sales, product and marketing teams.

Consumer lending is all about speed, low contact, and user growth.

While SME loans (around £100,000) are indeed getting faster and more automated; it’s fundamentally more relational and focused on the price of risk (especially if you want your customers to come back).

I find micro SME and sole proprietorship financing (under £25,000) more closely aligned with a B2C offer for two reasons:

First, the regulations. In the UK, for example, loans to individual traders of less than £25,000 are classified as “consumer credit” and therefore must be regulated (unless the product is a special exclusion, e.g. advance merchant funds).

Second, and why the first point exists, when you lend to a sole proprietorship or a micro-SME, you are more or less trying to determine the strength of the individual behind the business. Rather than the company itself.

My aim here is not to attempt to discredit Zopa’s plans to acquire or create a financing offer for SMEs. Just to wonder how it’s done.

Many of those who took part in the gold rush over a century ago found their fortunes, and there is no doubt that Zopa’s rulers are full of smart individuals with good fighting odds. .

For me, a more natural migration is the westward opportunity for B2C lenders to move their intuitive lending experiences (and hard-fought regulation) into the vast and underserved space of micro-SMEs.

Why join the wagon train when you can afford to take the train.

What Retailers Can Deal With Overseas Product Shipping Delays Fri, 14 Oct 2022 21:15:35 +0000 Small business owners in the e-commerce and retail sectors have faced delivery delays since the start of the pandemic. But you can take steps today to improve the process and ease the pressure on your business. In this article, we explain how long you can expect shipping to take, why so many shipments are delayed, […]]]>

Small business owners in the e-commerce and retail sectors have faced delivery delays since the start of the pandemic. But you can take steps today to improve the process and ease the pressure on your business. In this article, we explain how long you can expect shipping to take, why so many shipments are delayed, and what small business owners can do to address these challenges.

How long does international shipping take right now?

Overseas retail delays are still occurring compared to pre-pandemic days. Shipping from China Previously, this took 40 days on average, but increased to 70 days at the end of 2021. Flexport’s Ocean Timeliness Indicator recorded a top of a whopping 114 days.

According to Global Supply Chain Pressure Index, shipping companies aren’t off the hook just yet – shipping times from several parts of the world to the US are still lagging behind. Chinese and European ports are a major source of many delays, with China continuous locks greatly contributing. Also, the cost of sending air freight from the United States to Asia is more expensive, which means you can pay more to get the items you need to sell.

Why do overseas shipments take so long?

Many factors contribute to shipping delays, such as the fact that 95% of the transpacific maritime industry is controlled by three alliances, which allowed them to increase the shipping costs. But the COVID-19 pandemic has exacerbated other issues and made the situation worse. Global ports were closed and there were not enough workers due to the virus, so cargo ships were very congested.

Most of the world’s shipping is done over the ocean. Thus, cargo ship delays, shipping container backlogs, port closures and labor shortages have caused significant delays for many U.S. retailers trying to maintain inventory. Not to mention that it is now more expensive to ship new products. The the cost of shipping is seven times higher than before the pandemic, according to the International Monetary Fund.

Even Amazon isn’t immune to the impact of shipping delays. Between 15% and 23% of the company’s products were out of stock by the end of 2021, CNN reported. However, small retailers without the resources of a large company like Amazon are feeling the greatest impacts.

What happens when a supplier does not deliver?

If delivery is delayed, retailers must deal with the real-time consequences of supply chain disruptions and product shortages. A positive customer experience is key to maintaining brand loyalty. According to a recent Oracle survey, more than half of consumers would switch brands after wanted items were out of stock or delayed between one and three times. So, if a retail business encounters a late shipment, a single out-of-stock item may be enough to convince customers to go elsewhere.

How does a retail business handle shipping delays?

Here are several steps retailers can take to reduce the stresses associated with supply chain delays and shipping delays.

Adapt to new consumer habits

American shoppers have adapted to the long lead times by starting to buy more in bulk, pre-ordering and increasing in-person purchases. Businesses need to be mindful and manage these shifts in buying habits as the supply chain is disrupted. Also, if it makes sense for your products, consider adding a subscription service or same-day pickup for your customers.

Get visibility

One of the most important ways to manage supply chain issues is to gain insight into the current delivery status of your products. Use supply chain visibility software that works for retail businesses like Descartes Macropoint, EnvelopeWhere Revision to see where your products are at each step of the process. Some supply chain visibility software allows you to choose your shipping route to also get the fastest delivery option.

Automate your inventory management

Use inventory management software to stay on top of your inventory needs. Tracking which products you need to restock allows you to plan orders in advance. So even if you experience shipping delays, you won’t run out of stock and can continue to fulfill customer orders. This software can also give you details such as items that are not selling so you can avoid ordering them again.

Offer transparency

You can avoid a lot of headaches by being honest and clear with your customers. If you think there might be delivery delays, let your customers know as soon as possible. Plus, be as open as possible with your customers about where their orders are by sending shipping status updates. Offering your customers discounts or refunds upon request if there are shipping delays and the order arrived too late to be useful is also a good idea.

Plan ahead

Giving yourself more leeway is the easiest thing you can do to manage supply chain issues. As long as your produce is non-perishable, you can order ahead for this holiday season. Consider buying in bulk for products that sell out to avoid shipping the same product multiple times. Additionally, allowing customers to pre-order products can give you more latitude in terms of delivery times.

Can you get compensation for shipping delays?

Your company may be able to get compensated for late delivery, although the process can get complicated. If you placed an overseas shipping order, you may be able to file a freight claim, which is a claim made directly to the freight carrier. However, you will need to be able to prove that delivery did not take place within a “reasonable time”, or within a reasonable time, which caused damage to you. The term “reasonable” is subjective, however, so you are not guaranteed to obtain compensation by following this claims process.

Cash flow solutions for retail businesses

Retail businesses need to keep their inventory well stocked to maintain and increase customer satisfaction, but that may not be easy when cash flow is an issue. Luckily, you can log into Nav and connect your retail business’s cash flow to get real-time insights into its performance and your next best move.

You’ll also be able to identify the financing options you’re most likely to qualify for, such as business credit cards and small business loans. You can apply for funding in minutes using Nav. These financing options can provide the cash needed to ensure you avoid shipping delays and keep your customers happy.

Here are some of the retail business loans currently available:

This article was originally written on October 14, 2022.

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Here’s what you need to know Wed, 12 Oct 2022 01:42:16 +0000 Cash withdrawal by credit card is chargeable. Details Cash is still needed for many purposes, although digital payment methods have grown rapidly in recent years. When we run out of money towards the end of the month or need it in an emergency, the most likely response is to use the immediate payment services or […]]]>

Cash withdrawal by credit card is chargeable. Details

Cash is still needed for many purposes, although digital payment methods have grown rapidly in recent years.

When we run out of money towards the end of the month or need it in an emergency, the most likely response is to use the immediate payment services or use the credit card at a ATM for withdrawing money. This may be the most practical way to instantly remedy a cash crunch, but it’s not a wise move.

Credit cards can be used to withdraw cash the same way we swipe a debit card at ATMs. However, in the case of a credit card, certain fees are involved in obtaining the cash advance. Interest rates on credit card cash withdrawals are high and it is not a financially prudent option.

Here are the charges or fees you have to pay when you swipe your credit card to withdraw cash.

Cash advance fees

When you withdraw money from an ATM with your credit card, a fee is charged for each withdrawal. These fees typically range from 2.5% to 3% of the amount withdrawn and added to your next credit card bill.


Interest is also charged on the amount you withdraw with the credit card. The interest rate on these cash withdrawals is usually high and can reach 3.5% per month. Also, credit card issuers don’t offer any interest-free period for cash withdrawals like they do for regular credit card transactions. This means that interest charges are applied when you make a cash advance from your credit card.

Credit score

Withdrawing money with a credit card does not directly affect your credit score. However, due to its high fees, you may not pay the minimum due and your credit card usage amount will also increase. This will negatively affect your credit score.

ATM maintenance fees

Most banks allow up to 5 free ATM transactions using credit or debit cards. Once you reach this limit, interchange or ATM maintenance fees are charged.

Benefits and offers

When you swipe your credit card to pay at restaurants and stores, banks may offer you discounts or special offers. But, when you use your credit card to withdraw cash, you may not be able to enjoy these benefits.

It is advisable to withdraw money from credit cards only when it is urgent and unavoidable.