Best Business Loans for Small Businesses
Can your business wait 6 months for an answer about financing? Are you are willing to fill out a lot of paperwork? Do you have tons of collateral and assets? Does your income statement/balance sheet look solid? For companies like this, then the best business loans for small businesses is from a bank.
However, you live in the real world. Here, uneven cash flow is a daily struggle and you may not know where your next dollar will come from. In this case, the best business loans for small businesses originate elsewhere.
Does a Bank Have the Best Business Loans for Small Businesses?
The first place that most small businesses turn to for a business loan is a bank. But over the past 10 years banks have been reducing the number of small business loans they grant. Instead, they mostly focus on companies with yearly sales greater than $10 million.
In addition, banks always require collateral. This way, they can be sure that they will still get their money back in case of default. That’s great for them but not for the average entrepreneur. Most small business owners just don’t have collateral.
Where to Go for the Best Business Loans for Small Businesses
Do you want to get a business line of credit set up quick? How much time do you have to fill out forms? To do business today requires flexibility and the right source of immediate business funding.
Thankfully, alternative lenders are now replacing banks by providing lines of credit or cash advances to small businesses and nonprofits without collateral. Still, it’s important to do your homework to find the one that is right for your business.
It may help you to know that Financing Solutions (www.financingsolutionsnow.com) is one of the first financing companies to realize that there are a lot of very good small businesses out there. They understand that all these companies need is a bit more funding to be a great success story or to help them through times when cash flow is down.
To be eligible for quick business funding from Financing Solutions, you will need at least $300,000 in yearly revenue and a personal credit score of 650 to qualify. Best of all, you can begin just by answering 10 simple questions online.
Best Business Advice from Top Entrepreneurs
It’s tough to find time to sit down and read a book about how to succeed at business. Therefore, here are a few quick gems from leading authors and business leaders to help you begin.
Nir Edal, author of How to Build Habit Forming Products: “Success comes from hard work, not a stroke of genius.” No matter how good your idea, nothing will come from it unless you are willing to work at it consistently.
Vanessa Van Edwards, Huffington Post columnist: “Sometimes having a rigid plan or business path can limit you.” One of the most vital aspects of small businesses is the ability to be flexible.
Stephen Halasnik, founding partner of Financing Solutions: “Always keep your eye on the bottom line.” When you find yourself unable to meet payroll or pay your bills on time, contact Financing Solutions for a business line of credit.