Ali Mayar, the CEO of Platinum Rapid Funding Group, knows quite a bit about the world of finance. His company’s main focus is to help businesses reach their goals by securing the amount of funds needed to take the next step. I was able to ask him a few questions about the type of businesses he works with, as well as general financial tips for those in business to ensure sustainability and success.
What is the most satisfying part of your job?
I think it’s rewarding to see people have success in the business world after we have helped them. I know that Platinum Rapid Funding Group plays a small role in the entire process for some of our clients, but it is an important one.
Is there anyone type of business that you help out more than others?
I would say we definitely have a wide variety of businesses that we help when it comes to funding so there is not just one. The beauty of our system is that really any type of business can benefit from something like this and especially businesses who experience variable periods of income over the course of a calendar year.
As far as the size of certain businesses we work with, we certainly work with quite a variety in that department as well so it’s difficult to define what’s typical or normal as each new prospect or client we communicate with has unique needs. Everything can be customized, so as long as you have been in business for over a year, no business is too big or too small.
What is one pitfall people should try to avoid after securing funds from Platinum Rapid Funding Group?
Probably the worst thing a person or business could do after receiving funding is to use it for personal things or to satisfy obligations completely unrelated to the business.
It is simply impossible to make payments on a consistent basis if that is what is done. There are better options as well for people who need money for personal use and it’s important to disclose that in advance so there are no surprises for all parties, down the road.
Most of the people and businesses who come to us are truthful about exactly what they want to use the funding for.
We are clear about discussing the use of funds when completing the funding process. As long as a person or company uses funds for their intended purposes, it’s almost always a win-win for everyone.
What’s your forecast on small business growth for 2019?
Economists are knowledgeable about what goes into a small business growth forecasts for any year. There are definitely going to be more and more small businesses popping up around the United States. Some will fail, some will thrive, and some will breakeven.
Everyone has a plan, it just comes down to sticking to that plan in order to have success. We will see what happens as far as that goes, but business growth isn’t slowing down any time soon.
Any financial tips to give to business owners that aren’t related to your company?
The more money a person can save before actually going into business, the better. It is sometimes easier said than done, but it will help with a lot of early planning and should help business owners make smarter decisions and stay more disciplined when it’s their own money they’ve worked hard for being utilized at the most important stages of the business.