The Time Is Now For A Small Business Loan

By Author: Seth Mossberg
Total Articles: 3
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Potential new business owners have been watching the national news with keen interest. The New Year is bringing new promise. Unemployment is down to levels we have not seen in four years. The DOW has set records. Investors believe we have turned the corner. New home construction is up. Those making and marketing “made in the USA” are adding employees and production. For those who have been waiting for ‘just the right time’ to buy a franchise or begin a new small business, this may be the opportunity to open as the economy is gaining strength.

Like the professional you are, you have prepared for this day. You know there is a need for a company such as the one you want to begin. You have studied marketing trends and believe whole-heartedly that you have what it takes to bring in sales. You have prepared an excellent business plan and even scouted possible locations that are renter-friendly. The only thing left is for you to find a Small Business Loan so you can open your doors.

Borrowing from relatives is not an option – neither is borrowing from friends. Both avenues can lead to discord and hard feelings ...
... down the road, even if your sources did have the capital. You have considered a second mortgage on your home, but your spouse is adamant against it. Some friends who own their own companies have told you that there are lenders that specialize in making the smaller loans to start a business. They have told you that large banks are the least likely source to approve you. Sometimes the smaller banks have a better ratio of loan approvals to loan applications.

The Small Business Administration has options for entrepreneurs to borrow needed capital to start a new business. There are requirements that must be met in order for the SBA to federally guarantee a portion of the loan. However, it will be a bank or other lending institution that actually approves and funds the loan. If this is the way the applicant chooses to go, it takes a great amount of time and paperwork.

Company owners have another avenue to explore which has many more advantages. This is the Small Business Loan. Alternative Small Business Loan providers look at other factors than just credit scores. There are many more factors that these lenders consider when approving a Small Business Loan. You are more than just an account number; you are an individual.

A huge advantage of the Small Business Loan is that owners and entrepreneurs have reduced paperwork and quicker turnaround times than at the large lending establishments. With an answer in several days rather than several weeks, the anxious owner can have cash in the bank that much sooner and can take advantage of securing a good rental price or other business decision that calls for quick action.

There are websites and intermediaries who can point the novice borrower in the right direction. A great entrepreneur knows to seize an advantage when it is presented.

Author Bio:-

Seth Mossberg is a financial planning expert with the gift of writing. He has been writing about Small Business Loan for online magazines and journals with digital media prominence. His work on the Bad Credit Small Business Loans is well appreciated by experts with great standing in the market. For more information please visit our site www.advancedbusinessloans.com