Growth in consumer lending and credit cards has been fueling the payments industry in recent years. What’s the current situation? What changes is the world economy undergoing these days? Who can help you with the right merchant cash advance? Just read below to know.
Consumer Lending in the US
One of the online lenders, which also operates as a partner for banks, has raised an extra $50 million with the purpose of funding its expansion plans. A financial services company based in California has recently announced it’s raised $300 million in new equity funding. The moneyputs off the need for the rapidly growing Silicon Valley lender to focus on an initial public offering.
This San Francisco-based lending company aims to use the funds for keeping on hiring top talent and gaining a larger scale. This is a privately held company that currently has over 550 employees, and intends to hire hundreds more in 2019, as one of the company’s spokeswomen mentioned.
According to the lender’s vice president of communications, it’s safe to say that their company has an extremely strong interest in this round. The $300 million in new funding grants them a striking runway to go on growing and scaling.
Global Economy Growth: Get a Merchant Cash Advance
In the 2nd half of 2018, global growth slowed drastically, thus representing3.2% from 3.8% in the 1sthalf. This is what the IMF says about industrial production and world trade. Gita Gopinath, chief economist at IMF, notes that a global recession isn’t one of the baseline projections. However, this doesn’t mean there’re no downside risks. In fact, there’re many of them.
What about your business? Do you have the necessary working capital to avoid facing major financial problems? If not, just consider working with a reputable alternative online lender that can approve your for business funding such as a merchant cash advance fast and easily, charging you the lowest rates in the industry.
When it comes to global economic growth predictions for 2019, the IMFforecasts several key risks. The latter risks include a US-China trade war, and a potential British exit from the EU. The European Union’s economy isn’t growing the way it used to currently, and the difference is rather significant. Such slowdown has made the professionals in the field cut their predictions concerning the global growth.
Let’s look at the US economy. So, it’s obvious that a fiscal stimulus driven by tax cuts was less active as compared to what was expected previously. US Treasury yields or the return on an investment in a US government debt obligation, e.g., a bill, note, or bond, slid on concerns around the global economic outlook.
On the other hand, the S&P 500 index and the Dow Jones Industrial Index dropped over half a percent. This was taking place while there were worries about a US threat to hit tariffs on hundreds of European goods would account for a further economic slowdown.
The reality is that it’d be quite important for several major economies such as China and Germany to take short-term actions. As Gopinath notes, this is a delicate moment for the world economy. So, keep your finger on the pulse and work only with a true payment expert to take your business to new heights without challenges.
Author Bio:As the FAM account executive, Michael Hollis has funded millions by merchant cash advance solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.