What Are Alternative Small Business Loan Rates Like
Alternative ways of thinking are one of the things that make small business owners successful. To keep growing, you must constantly discover different strategies and other methods to get ahead. A good place to start is finding out what alternative small business loan rates are like.
You cannot allow your company to become stagnant by sticking to the same old ways of doing business with the same old traditional approaches for obtaining fast cash loans. It is important to research other options, such as learning about alternative small business loan rates.
What Are Small Business Loan Rates from a Bank Like?
Going to a traditional bank for small business express loans might seem like a smart idea. However, when you consider all the rates and fees banks charge, the decision may not be so wise after all.
Banks may offer competitive rates for a small business loan, but there are lots of strings attached. For example, they require tons of collateral, such as real estate or a blanket lien on your business assets. In addition, many banks insist that the key owners be personally obligated before they will give you fast business funding.
Applying for a fast business loan with the Small Business Association is not much better. They offer both fixed and variable interest rate structures but the lender is allowed to add an additional spread to the base rate to determine the final rate. Also, they charge expensive fees.
Where Do Companies Go for Alternative Business Loan Rates Today
Today’s banks are no longer interested in small businesses with sales under $5 million. Thankfully, a number of companies, like Financing Solutions (www.financingsolutionsnow.com), are now catering to small business with products that are just as inexpensive as bank rates.
At Financing Solutions, you can get cash advances, lines of credit and debt restructuring. These funding products represent an ideal way to deal with cash shortages, opportunities for growth and managing debt.
Most importantly, the process is fast and easy. It only takes a 15 minute phone call to get started and you will receive a decision on your application in about an hour. Once approved, you can have the quick business financing in your account the same day.
Alternative Ways to Jump-Start Your Growth
When it comes to increasing revenue and growing a company, many small business owners try to get more customers, and they stop there. They may not know that there are numerous, simple techniques that can help to quickly move them to a different level and ahead of the competition.
One thing you can do is adjust your billing cycle. Since most of your assets are likely in receivables, it is vital to get this money as fast as possible. With more cash in hand, you can jump on opportunities, complete projects and expand your business.
You can also reduce overhead by automating some systems. No, that doesn’t mean subjecting your customers to an unending telephone nightmare. Customer service is very important and you should have humans handle this whenever possible. On the other hand, there are many time consuming tasks, such as sales reporting, record keeping and accounting that could benefit from the wonders of technology.
Of course, the fastest way to improve your business is to contact Financing Solutions. They can give you the fast business cash every company needs to have for growth.