Sell Structured Settlement Payments to Help Start (or Support) a Business
Before starting a new business, most people think through the pros and cons. The drawbacks, of course, are the level of risk and the need for upfront capital to get things off the ground. But most small business owners would agree that the upsides more than makeup for the challenges.
When you own your own business, you get freedom and flexibility. You get to grow your company in line with your vision, and you get the fulfillment of working for yourself. Starting your own company can be one of the best things you do for your quality of life, career path, and financial outlook.
All that said, there are times when things get lean. That’s a normal part of owning your own business, and it’s especially true in the early days. Fortunately, if you have a structured settlement, you can access the money you need to get your dream off the ground or weather challenging times (like, say, a pandemic).
To give you a better idea of how structured settlement payments can support small business founders, let’s take a look at two scenarios.
Funding your startup phase
The earliest days of establishing a new business are some of the scariest, and primarily because you need to find a way to get enough money to get things started. It takes money to buy inventory and equipment, hire employees, and rent office space. Plus, if you quit your job to start this undertaking, you’re going to want a way to keep income flowing into your household, too.
Enter: your structured settlement payments. Rather than leaving that money untouched so it can get slowly eked out to you, in most cases, you have the option to sell some or all of your payments. That frees up that money so you can use it how you need in these early, critical days of starting your business.
By liquidating a portion or all of your payments, you get the cash flow you need to start your business without unnecessary financial stress. Our Strategic Capital team can help you explore this cash flow option — and help you make the right decision for your professional and personal monetary needs.
Bolstering your business through a slowdown
The pandemic has not been kind to small business owners. Whether it drove away your customers, messed up your supply chain, or both, you might be weathering a slow season right now.
We’re seeing the signs of returning to normal, but it’s taking time. And if things are lean at your business, you might feel like that’s time you don’t have.
Fortunately, you can buy yourself a breather by selling your structured settlement payments. Whether you sell a portion l of payments just to ease cash flow or you sell your entire settlement to do some serious bolstering, your payments can give you the influx of money you need to get through this slowdown. In fact, that money could take you from barely surviving to thriving.
If you’re a small business owner looking to support your company through the tail end of this pandemic or you’re ready to start your own business, your structured settlement payments could be a powerful tool at your disposal. To learn more about your options, contact our team at Strategic Capital today.