What Are Small Commercial Loan Lender Alternatives
It has been said that if you can start a small business and make it a success, then you can do anything. Consequently, if you need small commercial loan lender alternatives, you can find them and use them to do great things.
You may have been told that there is no such thing as small commercial loan lender alternatives. However, many things seem impossible at first… until you accomplish them.
Why It’s Important to Find Small Commercial Loan Lender Alternatives
There are many reasons why you may need small business funding fast. For example, you might need to make payroll but don’t have enough cash on hand due to an accounts receivable gap. It’s also possible to be presented with a profitable business opportunity that you must jump on right away.
You may also experience seasonal fluctuations in sales and cash flow. As a result, this could affect your inventory demands and cause you to have to purchase materials quickly or leave you stuck with too much inventory and a short shelf life.
Turning to a traditional small business loan lender is futile for fast cash. They typically have lengthy applications that can take days to complete. You also have to supply mountains of paperwork, such as business plans, accountant letters and cash flow projections. After all that, they still may take more than a month to give you an answer.
In business, the ability to raise fast business finance is often the only factor that separates a successful business from an unsuccessful one. Studies have shown that more than half of businesses that start today won’t be around in five years.
Where Can You Go Other Than a Small Commercial Loan Lender?
Decades ago the only small commercial loan lenders were banks, but over the years banks required more and more collateral. Research shows that traditional banks deny approximately 80 percent of small business loan applications. Taking their place are companies like Financing Solutions (www.financingsolutionsnow.com), which provide lines of credit, cash advances and debt restructuring financing.
At Financing Solutions, the process is fast and easy. You simply have to answer a few questions, provide supporting documentation and you will have a decision on your application in about an hour. Once approved, you can have the fast business funding in your account the same day.
Why Opt for Alternative Lenders
Banks are not in the habit of granting fast business loans of less than $200,000. Therefore, they are not the ideal choice for most small businesses. On the contrary, alternative lenders account for more than five billion dollars in small business funding.
Also, alternative lenders tend to be more transparent in their business practices regarding terms and fees. Just try getting a straight, uncomplicated answer about loan granting criteria from a traditional bank.
When you choose an alternative lender, it is vital to find one that offers a quick turnaround and positive experience. Many businesses are finding the best results with Financing Solutions. They can give you the fast business money you need to grow and thrive.