Small Business Lending & Loans
Regardless of your specialty, your first role as a small business owner is to put on an accounting hat and find a finance company that will offer you the small business lending your company needs. As the old saying goes, you’ll need to spend money to make money – but where is that money coming from?
The obvious answer is grants and small business loans, but is it the right answer for you?
Grants and small business loans are an option, but they can be difficult to qualify for. They often require lots of time, paperwork and rejection.
Recent surveys and bank data shows that small businesses, requesting loans in amounts less than even $1 million, can still hit a wall in establishing credit. According to quarterly regulatory filings, total outstanding credit for small companies dropped to $663 billion in the first quarter of 2010 from nearly $700 billion in mid-2008. That same year in July, a National Small Business Association (NSBA) survey reported 41% of business owners struggling to find adequate financing.
Select Business Credit can help your business!
While it looks as though the economy is still far from turning this trend around, your lack of a small business loan doesn’t mean curtains for your business. Turn to Select Business Credit for your financing needs. Our equipment financing specialists will work with you to explore options, reduce requirement restrictions where applicable, and potentially collateralize your loan request.