Travel Guide | CSTCTD.org

For newly established or expanding small businesses, being able to finance the high costs of business travel can be difficult, especially if cash flow is tight. You may have considered turning to the bank for a loan, but a bank may be reluctant to approve financing with bad credit, a poor sales history, or no collateral. If you own a new or growing small business, you can finance your business travel expenses with a business cash advance. 

Business travel is expensive, and it doesn’t look like it is going to get any cheaper. According to recent industry projections, travel costs are expected to rise an additional 6-7% this coming year. This increase shows up in every area of travel, including airfare, lodging, and car rental.

We also cannot forget all the technological business traveler “must-haves,” such as a laptop computer and a smartphone sporting a range of options including, internet access, a digital camera, video, MP3, GPS, and  PDA capabilities. All of which come with a heavy price tag.

Without the numbers needed to negotiate better travel or purchase rates, small businesses can really struggle to get the financing necessary to support business travel.

A business cash advance is a financing tool used to improve cash flow. With it a new or growing small business can get the financing it needs to send out employees to meet with current and prospective clients or scope out new business opportunities.

There was a time when the costs of business travel centered around airfare, lodging, and a rental car. Not any more. For today’s business traveler, productivity means being well-equipped, and for the business that must send out its employees, this means a heavy price tag. Newly established or growing small businesses with a tight cash flow can better manage the cost of business travel through equipment leasing.

The list of standard hardware that today’s business traveler must have in order to be productive on the road is quite extensive. It includes a notebook computer, a smartphone supporting a range of features including internet access, a digital camera, video, MP3, a GPS navigational system, and PDA capabilities. Most of this must also be backed up by security software and equipment.

Not only is all of this equipment expensive, but rapid advances in technology will leave it outdated or obsolete in a few years.

Coming up with the capital to purchase such equipment can be difficult for the new or expanding small business. Many small business owners have successfully financed their technological equipment through equipment leasing. Moreover, by leasing their equipment, instead of purchasing it, businesses can choose to upgrade a device when the term of the lease comes to an end. This ensures that they will keep up with any advances in technology.