Today the world has came into an era of internet of Things (IoT) and printing has found a place in the online web commerce. No other technology than this has the potential to transform our world in such a quick time. What matters the most is not only the service or its quality, but also the flexibility. Moreover, it is a process without much of the complexities. It is not just, about what one wants but it also is about “the how.”What is a web-to-print software solution?Printing has been a part of human civilization since many years. What the world today knows is web-to-print. Web to print is a technological advancement where World Wide Web is in use for printing purposes. Technology has given this opportunity where customization is possible in every sphere of life. Demand is of customized products and online web-to-print software solutions a medium, which supplies that demand.If you are in the printing business and if you are looking for cross-city, cross-country or even cross continent selling, you need an online store. A web to print storefront is a tailor made digital print shop. This shop stations all the features and tools which you need for printing purposes. Right from the tiny little things like pens, pen drives, t-shirts, mugs, and many more products can undergo customization. Let us now check out the importance of a web-to-print storefront.What are the advantages of web-to-print software solutions?The print commerce has been through a severe change. Web-to-print software solution gives an opportunity to you, to your store, and to your print e commerce. It is a technology driven innovation using which makes printing possible using online websites.ScalabilityAn online web-to-print solution is a medium, which has the potential to give you the thrust of scalability. You should not be taking it for granted as it removes all the barriers of locality. It gives your store an online platform using which you can interact with people all over the world. Above all, it gives your customers the treasure of personalization and customizations.Creates Brand ValueBranding is extremely important for any business. The web-to-print storefront gives you an opportunity to brand your store. With its elegant and standard designing, you can create the brand of your own store or you can rebrand your already existing store.Build Stronger RelationshipsBring your store online and build stronger relationships with your customers by using the analytics tool. You get to know your customers closely; you get to interact with them more smoothly. You can even deal with their grievances before they even come and complain to you! With an online store, you can also attach a customer relationship management (CRM) tool and build stronger relationships with them.Sell Customized ProductsThe competition and the scope of opportunities have been immense with the growing population and technological innovations. If you do not give your customers what they want they surely will leave your store! You need to break all the shackles and launch your store into one of the online portals and give your customers the taste of their desires. This reduces your overall rejection rate and increases the usability. In addition, you can also magnify your return of investment.No More LimitationsIt gives e-com entrepreneurs & existing print business owners to leverage technology and simplify the complicated and time-consuming custom printing process. All the physical limitations of receiving a bulk of orders and then delivering are no longer a limitation with the web-to-print software solutions. The transactions become easier, transparent as the tool also integrates the online payment feature.
Many small business owners struggle with obtaining business finance, and there is absolutely nothing unusual about this. Getting a business loan for small businesses, such as retailers, restaurants, garages and so on, is not as simple as one would think from the bank.
This is not to say however, that getting a business loan is not possible. It all depends on where one goes looking for the loan. Typically, there are two primary options that business owners have, approaching their local banks and going to a private funder or lender.
Banks and small business loans
Banks look at applications for small business loans from their perspective and their perspective is determined by their criteria. When we speak of criteria, there are numerous criteria and these are all non-flexible as well as stringent.
Typically, banks require high credit scores, which should be around about 700 or over. If a business applying for a loan with the bank lacks excellent credit, their application will be rejected simply based on that one criteria. In conclusion to banks and credit scores, business funding with bad credit with a bank is not a possibility.
This is not to say that there are not a number of other criteria, which banks follow carefully and take equally seriously as well. The criteria of banks have been established over the decades based on shared experience, and these criteria are across the board.
As is generally acknowledged, banks are not very keen on funding small business loans. The reasons for this are many and one of the primary reasons is that, small businesses are considered to be high risk investments from the banks perspective and experience.
Private funders and small business loans
With a private lender the situation is completely different from what a business owner will experience with a bank. Private lenders have a completely different list of criteria to provide cash advance for business owners.
As private lenders primarily offer MCA (Merchant Cash Advances), the criteria for these is simple. An MCA loan is an unsecured loan, and does not require high credit scores either. As a result it’s easy to qualify for this kind of funding.
However, many a small business owners don’t look upon MCAs from a friendly perspective, and they do have their reasons. The interest rates are higher than traditional bank loans, and most business owners want low interest rates.
The point with MCAs is however not to compete with bank financing, as they are both in quite different arenas. Apart from the fact that they are both financing for businesses, the entire process, requirements, features and all other details related to the funding are completely different.
With an MCA loan the question how to qualify for small business loans does not really apply. Only in very few cases are small businesses turned away by private lenders. Generally, most businesses receive the funding they require for their business.
MCA loans V/S bank loans
Merchant cash advances or MCA in short are generally accompanied with high interest rates. Far higher than what the bank provides, and the reason for this is these are unsecured short term loans.
There are many businesses who would never qualify for a traditional bank loan, regardless of how badly they need it or want it. If their credit scores are low, or if they are unable to provide the collateral the banks require their applications will be rejected. This is not to say that there are not a lot of other grounds on which small business loan applications are not declined by banks. Also, banks are under not obligation to provide funding to those they choose not to. This leaves many small business with no other option.
For an MCA loan a business requires nothing much in the way of credit scores and collateral. The basic criteria for an MCA loan is mentioned here, as follows. The business should be at least 12 months old and a running business. The owner of the business should not be in active bankruptcy at the time of the loan application. Finally, the gross income of the business needs to be at least $10 thousand a month.
The easy criteria makes it simple to obtain an MCA, and the drawbacks are definitely the interest rates and the duration for some business owners. However, those who capitalize on such business funding are those business who either have no choice, or those who require quick business loans. Some of the advantages are the processing time frames, which can be as little as a couple of days.