by 
Photo by Anna Nekrashevich
Small businesses might be (as the name implies) more humble organisations than their larger competitors, but they have their place in any economy. Small businesses are very often the backbone of the economy, and an indicator of a healthy economy at that. However, like any business (large or small), these businesses must be able to find funding (and in a timely manner) to seize opportunities, innovate, and expand. The pathways to traditional funding can often be rigid, slow, and ill-suited to the dynamic nature of a modern enterprise. This has led many savvy entrepreneurs to explore alternative financing solutions. Lamina is one such option for many Vancouver businesses, offering a fast, convenient, and flexible method of sourcing capital at sensitive times.
Here are some of the key factors that make Lamina such an inviting pick when you need a quick cash infusion:
1. Unmatched Speed and Accessibility
When a critical piece of equipment fails or a time-sensitive inventory opportunity arises, waiting weeks or months for a decision from a conventional institution is simply not feasible. Organisations like Lamina are built for speed. The application process is streamlined; you can apply within 10 minutes and get funds deposited into your account within the hour. Business decisions are frequently made within days (if not hours), and the sooner you can get your funds, the better. Having access to a rapid means of capital infusion like Lamina’s empowers business owners to solve urgent problems and seize fleeting opportunities without the worry of untimely delays.
2. Flexible Qualification Criteria
For many new or growing businesses, limited credit history or fluctuating revenue streams can prove major barriers to securing support from large banking corporations. Lamina, however, employs a more holistic approach to their assessments. Rather than focus on credit score, their criterion for eligibility is based on a steady income and being at least 18 years old. This flexible evaluation model opens the door to a wider range of borrowers who might otherwise be overlooked by more traditional lenders. Rather than focus on a credit score (which may not be fully reflective of an entity’s ability to repay), Lamina’s approach acknowledges that a borrower’s current health and potential are more telling than past financial history in and of itself.
3. Designed for Specific, Immediate Needs
Short-term financial arrangements like Lamina’s aren’t intended to be one-size-fits-all solutions for massive, long-range projects. Rather, they are perfectly suited for addressing specific, well-defined, and immediate objectives. A business might need a quick capital injection to help purchase a new commercial fridge as part of a hardware upgrade, or manage a temporary cash flow gap between major client payments, or get a little funding to complete an order for additional supplies from your providers (e.g., sourcing industrial gas from sources like Josef Gases). Because the repayment schedule is itself short-term, these arrangements often align directly with the expected return on these specific investments, which gives the borrower a window to generate revenue to repay the borrowed amount and settle the arrangement without a lingering long-term obligation.
4. Preservation of Ownership and Control
For any passionate entrepreneur, maintaining ownership and control over their creation is paramount. Many avenues for raising capital (such as bringing on investors) require the sacrifice of equity, which means a loss of a percentage of the company itself, which can mean a loss of autonomy and a requirement to answer to outside partners. Lamina’s services, however, are a form of debt-based funding. The business receives the capital it needs in exchange for a promise to repay it over an agreed-upon period. The owner’s equity remains untouched. This critical distinction ensures that the entrepreneur retains full control over their company’s strategic direction, operational decisions, and future, making it an attractive option for those who wish to grow their businesses in small ways without diluting their stake.
Lamina provides a simple, fast, and easy method of securing funds when you need them most. When you need cash in a hurry, it pays to have emergency financial aid that can offer that much-needed capital with minimal fuss, and that’s what Lamina offers small businesses like yours. So, the next time you need to borrow a little scratch to stay afloat for the short term, you know who you can count on.
