Monthly Archives: November 2018

Which financing options are best for your business needs?

Which financing options are best for your business needs?

If you’re planning to establish, buy or expand a business, Pango Financial offers a wide range of options to provide the funding you need. You can take advantage of these options individually or in combination to create a comprehensive financing package that fits perfectly with your long- and short-term goals.

Our financing options include:

DreamSpark 401(k) Rollover Plan: The most cost-effective way to unlock retirement savings, so you can invest in your business tax-deferred and penalty-free. Allows you to leverage funds in a qualified retirement plan [including 401(k), IRA, PSP, 403(b), SEP IRA, or government 457(b)] so you can own a portion of your business inside your retirement plan—without incurring taxes or penalties.

Small Business Administration (SBA) Loan: An SBA loan typically has easier credit requirements and lower monthly payments than bank financing. You can use the proceeds, between $100K and $5M, for any legitimate business purpose, including working capital, expansion and more.

Unsecured personal line of credit: This type of financing requires no collateral and provides a ready cash reserve you can use when needed. You pay interest only on your outstanding balance. As you repay the principal, it becomes available for re-use at a later time. To qualify, you’ll need a strong personal credit history, including no bankruptcies, with a FICO score of 680 or higher.

Marketable Securities: Offers relatively low interest rates because the loan or credit line is secured by your portfolio of eligible investment securities.

Factor (Accounts Receivable financing): Provides faster cash flow based on the value of your company’s accounts receivable. A buyer purchases your existing invoices for less than 100 percent of their value. Because it’s not a loan, there are no installment payments, and you can use the proceeds for any purpose. Available for established businesses (not startups) owned by individuals with strong credit and a FICO score of 650 or higher.

Equipment leasing: Offers fixed-rate financing for the use of business equipment over a fixed period of time. At the end of the term, you can purchase the equipment outright at a reduced rate or return it. No collateral is required other than the leased equipment itself. Minimum value: $10k.

Conventional Bank Loan: Provides capital for any business purpose for a fixed period of time at an annual percentage rate. Can be secured or unsecured. Offers predictable installment payments. Requires strong personal credit and a FICO score of 680 or higher.

To learn more about our funding options, including the innovative DreamSpark plan, call 1-855-WHY-PANGO (1-855-949-7264). Our advisors will walk you through the options and help you customize a financial plan that supports your business.

Promote your business for Small Business Saturday®

Promote your business for Small Business Saturday®

The holidays wouldn’t be the same without Small Business Saturday (SBS) on the Saturday after Thanksgiving, an initiative launched by American Express in 2010. This year, the big day is November 24. Last year, 7,200 business associations, state and local chambers of commerce, small businesses and other community organizers across all 50 states were SBS… Continue Reading

How to run a successful small business

How to run a successful small business

At Pango Financial we’ve helped thousands of entrepreneurs launch, expand or capitalize their small businesses. One thing they all have in common: a core belief in the inherent value of the product or service they’re selling. Translating that belief into a successful income-generating business doesn’t happen by itself. This is not news to you. Whether… Continue Reading

Business Credit Cards: Know the pros and cons

Business Credit Cards: Know the pros and cons

For sheer versatility, business credit cards are hard to beat—especially from the vantage point of a small business owner or entrepreneurial startup. But like any sophisticated financial tool, cards are better for some uses than for others. Should you open a business card account for your company? A lot depends on how and why you… Continue Reading