They say that when you are looking for something, you’ll know it when you find it. For example, you could be looking for a small business lender, but it’s more important to find the right one.
Every small business lender is not created equal. It is vital that you do your research, ask questions and read the fine print to find the one that is right for your unique small business funding needs.
Why it’s Hard to Find a Small Business Lender
Small businesses are the backbone of the American economy. There are approximately 30 million small businesses in this country and more than half of the working population works for a small business. With all they do, you would think that finding a small business loan provider would be easy, but that is sadly not the case.
Traditional banks have strict criteria, such as requiring tons of collateral and an excellent credit score, that most small business can’t meet. In addition, banks care more about shareholders than customers, meaning they must make a profit, so they avoid even the smallest risk. Therefore, they are less likely to take a chance on providing an instant business loan to a small business that is not perfect.
There are some other, nontraditional lenders that can help. However, they typically charge expensive fees and lock you into long term contracts so you will be stuck repaying your fast business loan for several years. Also, many of them use computer algorithms to make lending decisions, and if you don’t match their standards exactly, you will probably be denied.
Where Can Small Businesses Go for Financing
Thankfully, there are other options for small business financing. Alternative lenders, like Financing Solutions (www.financingsolutionsnow.com), are changing the way small businesses get funding to level the playing field and promote growth.
With Financing Solutions, you get favorable terms and a fast, easy application and approval process. By answering a few questions and providing supporting paperwork, you can have up to $150,000 in short term business funding in less than 48 hours. Existing businesses in most industries with at least $500,000 in yearly revenue are eligible to apply.
They consider all aspects of your business in determining eligibility. Also, you will always speak to a real person when you call. You can choose from several financial products, including debt consolidation, lines of credit and cash advances.
Finding the Best Ways to Grow Your Business
If your business has become stagnant, you may feel like you are wildly spinning your wheels but going nowhere. Every business can benefit from the energy created by shaking things up sometimes. This is how you learn and grow.
One thing to look at is the information and messages delivered by your company. Do they reflect who you are today? Does your content accurately say what you want customers to know about your brand? You may want to freshen up your topics to better control the conversation and increase your visibility.
You must also pay attention to the competition. Find their weak spots and ways that you can capitalize on areas where they are lacking. For example, you may notice people complaining that your competitor has a confusing online purchase process. If so, make sure you spread the word that yours is simple.
Of course, the greatest way to grow your business is to contact Financing Solutions. They will give you the fast business money necessary to go to the top of your industry.