When is it going to get easier to get cash—and what do we do in the meantime? This is a question that a lot of business owners are asking themselves right now.
Those are the questions small-business owners have struggled with since the economy took a nose dive. Many banks reacted to the financial crisis by tightening their standards, driving entrepreneurs toward other sources of financing, such as alternative lenders.
Now, despite the slow but steady recovery, it’s still tough for many small firms to get a traditional loan. Businesses that were once able to borrow whenever they needed the capital to grow or to survive are now struggling to keep their doors open.
I’m afraid I may lose my business and everything I’ve worked so hard to achieve.
Cash flow has been tighter than usual and sometimes I need a loan to make payroll or fulfill my obligations to my vendors. I’ve been in business for over 3 years, but now that the economy is picking up I’m unable to fully take advantage of the upswing in the market because of the lack of business lending from banks.” Khiem H. a restaurant owner in Long Beach, California told us.
Many business owners are looking for loans outside of traditional lenders. Increasingly more and more business owners are leveraging short term unsecured business loans to achieve their financing goals. Unsecured business lending isn’t a new industry and has been around for decades but has recently gained momentum among small to mid-sized business owners.
Unsecured business loans is a great option for businesses that need a short term loan with flexible re-payment options and funding in as little as 72 hours.
Instead of looking at just your FICO score we take a more 360 approach at your business to determine what your best lending options are. We work with several private investment firms that are able to give businesses the funding they need and fill in the gaps where traditional banks are failing to serve business owners.” Ronnie Sandlin COO of Leverage Funding stated.
Although business lending is expected to improve in 2015 many business owners feel more secure with alternative lending at their fingertips.
Having options and flexibility is very important to me Gene Morris owner of Good Morning Media in Seaside California said. “I rest a lot easier every night knowing that if my oven breaks, or the air conditioning unit goes out I’m able to access the cash I need when I need it so that I’m not in a situation where a small problem snowballs into something bigger because of the lack of capital.”
If you are a business owner or manager who wants to learn more about alternative business financing options you can learn more by calling: